Science Applications International Corp 8-K

What Happened Science Applications International Corporation (SAIC) announced on February 17, 2026 that the Board appointed James C. (Jim) Reagan as Chief Executive Officer, effective February 17, 2026. Mr. Reagan, age 67, had served as Interim CEO since October 23, 2025 and previously was Executive Vice President and CFO of Leidos (July 2015–July 2021). The company issued a press release disclosing the appointment and related details.

Key Details

• Effective date: February 17, 2026. Mr. Reagan was Interim CEO since October 23, 2025.
• Cash compensation: annual base salary of $1,200,000. Short-term incentive target equal to 150% of base salary (i.e., target cash bonus ≈ $1,800,000).
• Long-term equity awards: $7,500,000 in awards comprised of 40% restricted stock units (≈ $3,000,000) and 60% performance stock units (≈ $4,500,000).
• Other: eligible to participate in SAIC’s deferred compensation plan; if terminated without cause while CEO, he will receive benefits under SAIC’s Executive Severance, CIC and Retirement Policy. Filing notes no family relationships or related-party transactions requiring disclosure.

Why It Matters This is a material leadership change confirming the interim CEO as permanent CEO, which can affect management continuity and strategic direction. The disclosed pay package signals executive incentives (mix of cash and performance equity) that tie Mr. Reagan’s compensation to company performance. Investors should note the dates, compensation amounts, and severance provisions for governance and proxy/compensation context. The company issued a press release under Regulation FD to publicly announce the appointment.