TD SYNNEX CORP 8-K

What Happened

• TD SYNNEX Corporation filed an 8-K on May 11, 2026 disclosing an updated offer letter dated May 5, 2026 for Dennis Polk, effective December 1, 2025. Mr. Polk will continue as Chair, Hyve Solutions Holdings, serve on TD SYNNEX’s Board of Directors, and report solely to the company’s CEO.
• The offer letter sets Mr. Polk’s annual base salary at $840,000, a target annual incentive bonus of 100% of base salary, and equity awards with a fair market value of approximately $1,500,000 (60% time‑based restricted stock; 40% performance‑based restricted stock units). The equity awards will be granted with the company’s annual executive equity grants.

Key Details

• Effective date: December 1, 2025; offer letter dated May 5, 2026; 8‑K filed May 11, 2026.
• Base salary: $840,000 (subject to annual review).
• Target annual bonus: 100% of base salary (paid based on Compensation Committee‑established performance metrics).
• Equity: ~$1,500,000 in awards — 60% time‑vesting restricted stock, 40% performance‑vesting RSUs; granted with annual executive grants.
• Severance/termination: Offer letter includes specified payments if terminated without “cause” or if Mr. Polk resigns for “good reason,” and similar protections in a change‑of‑control scenario.
• The full offer letter is filed as Exhibit 10.1 to the 8‑K.

Why It Matters

• This filing details executive compensation and retention measures for a senior leader overseeing Hyve Solutions, which could affect executive-related compensation expense and equity dilution over time.
• Equity and performance‑based awards align Mr. Polk’s incentives with company performance, while the termination/change‑of‑control protections provide retention and continuity for leadership of Hyve Solutions.
• For investors, the item is a governance/compensation disclosure—no operating results or other corporate actions were announced in this 8‑K.