ADI said it appointed Richard C. Puccio, Jr. as Executive Vice President and Chief Financial Officer, effective February 5, 2024. The appointment was announced on January 25, 2024.

1. 01

   ADI said it appointed Richard C. Puccio, Jr. as Executive Vice President and Chief Financial Officer, effective February 5, 2024. The appointment was announced on January 25, 2024.

2. 02

   The company said Mr. Puccio will set its financial strategy and lead its global finance operations. He served as Chief Financial Officer at Amazon Web Services from May 2021 to January 2024. Before that, he spent nearly 29 years at PricewaterhouseCoopers, including 21 years as a Partner.

3. 03

   Under the Offer Letter, ADI set Mr. Puccio's annual base salary at $670,000 and his annual cash incentive target at 125% of base salary under the Executive Performance Incentive Plan. The company also will pay him a one-time hiring bonus of $500,000.

4. 04

   ADI will grant Mr. Puccio restricted stock units with a grant date value of $10 million on the 15th day of the month after his start date. The units will vest in equal annual installments over 3 years, beginning on the first anniversary of the grant date. He will also receive an annual equity award for fiscal 2024 with a grant date value of $5.5 million.

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