UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d)
of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): April 7, 2020
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Emerging growth company | ||||
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Item 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
(e) In light of the disruption and uncertainty created by the global coronavirus (COVID-19) pandemic, effective on April 7, 2020, Michael S. Dell, Chairman of the Board of Directors and Chief Executive Officer of Dell Technologies Inc. (the “Company”), has agreed by waiver to effect a temporary reduction in the base salary otherwise payable to him, effective with the start of the Company’s second fiscal quarter on May 2, 2020. Mr. Dell has agreed to forgo, through the last payroll period in the Company’s current fiscal year, which ends on January 29, 2021, or until such earlier date as is determined by the Nominating and Governance Committee of the Board of Directors of the Company, receipt of all of his base salary except to the extent necessary to fund, on an after-tax basis, his contributions to continue to participate in the Company’s health and welfare benefits plans.
Mr. Dell’s salary waiver will not modify other rights under his employment agreement or other compensation except with respect to incentive arrangements applicable to Mr. Dell that are determined by reference to his base salary. Except for the amount of compensation for paid time off, the salary waiver is not intended to reduce any other Company employee benefit that is determined by reference to Mr. Dell’s base salary, except as may be required by applicable law.
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
Date: April 8, 2020 | Dell Technologies Inc. | ||||
By: | /s/ Robert Potts | ||||
Robert Potts Senior Vice President and Assistant Secretary | |||||
(Duly Authorized Officer) | |||||
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