Equinix said the Board approved Adaire Fox-Martin as its new President and Chief Executive Officer on March 7, 2024, with the start date no later than June 17, 2024. Charles Meyers will become Executive Chairman, and Peter Van Camp will resign from the Board.

1. 01

   Equinix said the Board approved Adaire Fox-Martin as its new President and Chief Executive Officer on March 7, 2024, with the start date no later than June 17, 2024. Charles Meyers will become Executive Chairman, and Peter Van Camp will resign from the Board.

2. 02

   The company said it approved Fox-Martin's initial annual base salary of $1 million, an initial target annual bonus under the 2024 Annual Incentive Plan of 150% of her base salary, and an initial equity award for fiscal 2024 with a grant date value of $18 million.

3. 03

   Equinix said Fox-Martin will receive a cash sign-on bonus of up to $412,000 and a sign-on equity award with a grant date value of $17 million in restricted stock units. The RSUs will vest over 2 years, with 25% vesting every 6 months after the Transition Date.

4. 04

   Equinix said Meyers will remain as Executive Chairman until the date of the Company's Annual Meeting of Stockholders in 2025 and will receive an annual base salary of $400,000. His target bonus for 2024 will be 150% of his base salary for the portion of the fiscal year before the Transition Date and 75% for the portion after it.

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Original filing

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