In the past, Palm’s staff has sen quite a bit of shuffling: some people left, others returned and so on.
The latest SEC filing from Palm now claims the following:
Item 5.02(b) Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers
On April 12, 2010, Michael R. Abbott, Senior Vice President of Software and Services, submitted his resignation from Palm, Inc. (“Palm” or the “Company”), and his employment with the Company is expected to terminate effective April 23, 2010.
Item 5.02(e) Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers
Palm is implementing a retention program for certain key employees, including executive officers. The program includes equity awards and cash bonuses to be earned over a two year period provided that the individuals remain as employees of the Company. As part of this program, Jeffrey P. Devine, Palm’s Senior Vice President of Global Operations, and Douglas C. Jeffries, Palm’s Senior Vice President and Chief Financial Officer, each received a grant of restricted stock units pursuant to Palm’s 2009 Stock Plan and a cash bonus of $250,000.
Palm loosing its SVP of software and services is not too good – keep in mind that another company purchasing Palm would buy them not for the products, but rather the IP and staff. Nevertheless, stock is up 2% ATM…
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