Summary by Moomoo AI
IBM Corp has announced that Michelle H. Browdy will retire from her position as Senior Vice President, Legal and Regulatory Affairs, and General Counsel by the end of 2024, concluding a decade-long tenure. Additionally, the company disclosed compensation arrangements for its Chairman and CEO, Arvind Krishna, and other named executive officers. The long-term incentive awards are set to be granted on February 21, 2024, with the actual number of Performance Share Units and Restricted Stock Units based on IBM's average closing stock price prior to the grant date. The stock options' valuation will also consider a discount factor. The Performance Share Units are scheduled for payout in February 2027, while the Restricted Stock Units and Stock Options will vest annually over four years. This information, along with further details, will be included in IBM's 2024 Proxy Statement.