Hp Inc 8-K, filed Jan 19, 2021
Hp Inc (HPQ)
8-K
2021-01-19
For: 2021-01-12
View Original
Added on
April 09, 2026
About this 8-K
Hp Inc filed this 8-K on January 19, 2021, reporting on events of January 12, 2021.
Items reported
- Item 5.02: Director or officer change, or executive pay
- Item 9.01: Financial statements and exhibits
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)
(Exact name of registrant as specified in its charter)
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(State or other jurisdiction of incorporation)
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(Commission File Number)
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(I.R.S. Employer Identification No.)
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(Address of principal executive offices)
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(Zip code)
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(650 ) 857-1501
(Registrant’s telephone number, including area code)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
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Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
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Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
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Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
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Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
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Securities registered pursuant to Section 12(b) of the Act:
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Title of each class
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Trading Symbol(s)
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Name of each exchange on which registered
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Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405) or Rule 12b-2 of the
Securities Exchange Act of 1934 (§240.12b-2).
Emerging growth company ☐
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting
standards provided pursuant to Section 13(a) of the Exchange Act. ☐
| Item 5.02. |
Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
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On January 19, 2021, HP Inc. (the “Company”) announced that Kim Rivera, President, Strategy and Business Management, Chief Legal Officer and Secretary of
the Company, will step down from her positions as President, Strategy and Business Management, Chief Legal Officer and Secretary, effective February 1, 2021. On January 14, 2021, the Board of Directors of the Company appointed Harvey Anderson as
Chief Legal Officer and Secretary of the Company to succeed Ms. Rivera, effective February 1, 2021.
The Company has entered into an agreement (the “Special Advisor to the CEO Agreement”) with
Ms. Rivera, pursuant to which she will transition to serve as Special Advisor to the CEO, a non-executive officer role, from February 1, 2021 through December 31, 2021 (or such earlier date as Ms. Rivera’s employment may terminate). Subject to
the terms of the Special Advisor to the CEO Agreement, Ms. Rivera will
continue to be paid her annual base salary through December 31, 2021, her previously granted equity awards will continue to vest in accordance with their terms through such date, and she will be paid an annual cash bonus at target for fiscal year
2021. Upon her termination, Ms. Rivera will be eligible to receive, unless terminated for cause, severance benefits which are consistent with the severance benefits provided for under the Severance and Long-term Incentive Change in Control Plan
for Executive Officers, as described in the Company’s proxy statement filed with the
Securities and Exchange Commission on April 13, 2020. The Special Advisor to the
CEO Agreement provides for a customary release of claims.
The above description of the material terms of the Special Advisor to the
CEO Agreement is qualified in its entirety by reference to the full text of the Special Advisor to the CEO Agreement, which the Company expects to file
as an exhibit to the Company’s Quarterly Report on Form 10-Q for the quarter ended January 31, 2021.
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Item 9.01.
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Financial Statements and Exhibits.
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(d)
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Exhibits.
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The following exhibits are filed as part of this report: |
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Press Release, dated as of January 19, 2021
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104
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Cover Page Interactive Data File, formatted in Inline XBRL
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SIGNATURE
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.
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HP INC.
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DATE: January 19, 2021
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By:
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/s/ RUAIRIDH ROSS
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Name:
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Ruairidh Ross
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Title:
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Global Head of Strategic Legal Matters and Assistant Secretary
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Exhibit 99.1
| HP Inc. |
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| 1501 Page Mill | |
| Palo Alto, CA 94304 | |
| hp.com |
News Release
Focus on advancing disruptive innovation and accelerating corporate strategy
PALO ALTO, Calif., January 19, 2021 — HP Inc. today announced executive leadership appointments that further strengthen the company’s innovation capabilities and support its long-term growth strategy.
Sarabjit Singh ('Savi') Baveja has joined as Chief
Strategy and Incubation Officer. Leveraging HP's unique assets and competencies, Baveja will lead HP’s strategy, corporate development and new business incubation efforts focused on driving new sources of growth and long-term value creation. He
joins from Bain & Company, where he was a senior partner and head of new business incubation and also advised HP on a range of strategic business priorities. Baveja will work closely with the HP executive leadership team to identify, develop
and launch new products, services and business models across the company’s portfolio. This includes a focus on leveraging HP’s microfluidics technology to create disruptive new businesses and applications in the health and wellness space.
Tolga Kurtoglu has joined HP as Chief Technology
Officer and Global Head of HP Labs. Kurtoglu is the former CEO of Palo Alto Research Center (PARC) and global head of research at Xerox. Kurtoglu will lead HP Labs, one of the world’s most preeminent and seasoned industrial research laboratories,
where he will drive a renewed commitment to cutting-edge research and innovation. He will also lead the company’s technology strategy and engagement with the technical and scientific communities.
“Savi and Tolga each bring deep experience and expertise that support our strategy to advance HP’s leadership in Personal Systems and Print, disrupt new industries with our
technology and intellectual property, and transform our company for the future,” said Enrique Lores, HP President and CEO. “Their leadership further strengthens our ability to innovate for customers and capitalize on attractive growth opportunities
as we create new products, services and business models.”
Concurrent with these appointments, HP announced that Kim Rivera, President of Strategy & Business Management and Chief Legal Officer, has made the personal decision to
depart HP following a successful five-year tenure with the company. To ensure a seamless transition, Rivera will remain a special advisor to CEO Enrique Lores and the company through the end of 2021. The Board has appointed Harvey Anderson, HP’s General Counsel, as Chief Legal Officer and Corporate Secretary. Anderson will join the company’s executive leadership team.
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News Release
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“Kim has been integral to HP’s success since our early days as a standalone company in 2015. Her business acumen, legal prowess and purpose-driven leadership have made a
huge impact and built a deep bench of leaders across her teams. We will benefit from her contributions for many years to come,” said Lores.
He added, “I am delighted to welcome Harvey to the HP executive leadership team. His wise counsel, sound judgment and strategic acuity will continue to serve us well as we
deliver on our strategic priorities.”
All appointments are effective February 1 and each new role reports to CEO Lores.
Biographies
Sarabjit Singh ('Savi') Baveja - At Bain, Baveja
was a member of the firm's Strategy, Telecommunications, Media and Technology (TMT), and Advanced Analytics practices and served on the firm’s board of directors. His key focal areas included machine learning, artificial intelligence, and digital
disruption. During his three decades with the firm, he spearheaded multi-year transformations at several leading global technology companies and also founded Trooly, a predictive analytics startup that was purchased by Airbnb in 2017. Baveja holds
an MBA from Harvard Business School and a degree in electrical engineering from Stanford University.
Tolga Kurtoglu - During his tenure as the CEO of
Palo Alto Research Center (PARC) Kurtoglu led the transformation of PARC from a research organization to a world-class open innovation business. More recently, he was the Head of Global Research at Xerox, where he oversaw the company’s research
centers and distributed advanced technology and engineering teams. Prior to this he held roles at NASA Ames Research Center and Dell. Kurtoglu has numerous patents and publications in the fields of automation and machine intelligence, fault
tolerant system design, and 3D/digital manufacturing. He earned his doctorate in mechanical engineering from the University of Texas at Austin and his master’s in the same field from Carnegie Mellon.
Harvey Anderson - Anderson joined HP in 2017 as
deputy general counsel for the company’s Personal Systems and 3D Printing business units. He has more than 25 years of experience in public policy, regulatory compliance, corporate and commercial transactions, and IP litigation. Prior to joining
HP, he served as chief legal officer at AVG Technologies, a leading provider of software security solutions. He has also held senior legal roles at Mozilla Corporation, Seven Networks, and Netscape/AOL. Anderson earned his Juris Doctorate degree
from the University of San Francisco School of Law and his undergraduate degree in engineering from Marquette University.
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News Release
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About HP
HP Inc. creates technology that makes life better for everyone, everywhere. Through our product and service portfolio of personal systems, printers and 3D printing
solutions, we engineer experiences that amaze. More information about HP Inc. is available at http://www.hp.com.
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©Copyright 2021 HP Development Company, L.P. The information contained herein is subject to change without notice. The only warranties for HP
products and services are set forth in the express warranty statements accompanying such products and services. Nothing herein should be construed as constituting an additional warranty. HP shall not be liable for technical or editorial
errors or omissions contained herein.
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