AI English summary of an SEC filing — figures as filed

The company said it appointed Thierry Pieton as Executive Vice President and Chief Financial Officer on January 21, 2025, effective March 3, 2025.

8-KDeparture or Appointment of Directors or Certain OfficersFiled Jan 21, 2025Period of report Jan 17, 2025Summary published (UTC) Oct 24, 2026

Key points

AI summary

The company said it appointed Thierry Pieton as Executive Vice President and Chief Financial Officer on January 21, 2025, effective March 3, 2025.
The company said Pieton's initial annual base salary is $850,000, and his target MIP payout for fiscal 2025 is 110% of base salary, prorated from the effective date. It said his aggregate LTIP target value is $2 million.
The company said it will pay Pieton a $3 million cash bonus in 3 equal installments to compensate him for compensation forgone at his prior employer. It also said it will grant him a one-time New Hire RSU with a grant date value of $2.5 million.
Medtronic said on January 17, 2025 the Compensation Committee approved a one-time RSU grant of $1,000,000 to Gary Corona, interim Chief Financial Officer. It said Corona will become Senior Vice President, Corporate Finance after Pieton joins.

Summary

AI-written

Analysis scope · Filing body and confirmed press-release exhibitWe analyzed the filing body and confirmed exhibits. This is not a review of other exhibits, investor presentations or the full earnings call.

Thierry Pieton Named CFO; Effective Date

The company said it appointed Thierry Pieton as Executive Vice President and Chief Financial Officer on January 21, 2025, effective March 3, 2025.

Source · Based on the filing body and exhibits

Pieton Pay: Base Salary, MIP and LTIP Targets

The company said Pieton's initial annual base salary is $850,000, and his target MIP payout for fiscal 2025 is 110% of base salary, prorated from the effective date. It said his aggregate LTIP target value is $2 million.

Source · Based on the filing body and exhibits

Pieton Sign-On Cash Bonus and New Hire RSU

The company said it will pay Pieton a $3 million cash bonus in 3 equal installments to compensate him for compensation forgone at his prior employer. It also said it will grant him a one-time New Hire RSU with a grant date value of $2.5 million.

Source · Based on the filing body and exhibits

Interim CFO Gary Corona RSU Grant and Future Role

Medtronic said on January 17, 2025 the Compensation Committee approved a one-time RSU grant of $1,000,000 to Gary Corona, interim Chief Financial Officer. It said Corona will become Senior Vice President, Corporate Finance after Pieton joins.

Source · Based on the filing body and exhibits

AI summarized the filing and translated the summary into English; it may differ from the original. For reference only, not investment advice. AI translated the published Korean report into English. Figures are copied as filed, not recalculated.

Original filing

The filing as submitted to SEC EDGAR. You can check the figures and statements of this summary against it.

View the original filing on SEC EDGAR ↗

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