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AI brief of an SEC Form 8-K · ServiceNow (NOW)

ServiceNow adopts executive severance policy; CEO and CFO agreements amended

Neutral Impact 3 of 5 leadership Written later

ServiceNow amended employment agreements with Chairman and CEO William R. McDermott, CFO Gina Mastantuono and Chief People Officer Jaqueline Canney, effective January 1, 2025, to incorporate a new Executive Severance Policy. The policy standardizes severance payments and benefits for the executive leadership team, including enhanced payments tied to a change in control.

Key points

  • Agreements dated December 24, 2024; amendments take effect January 1, 2025
  • Change-in-control terms: 2 times salary plus target bonus for the CEO and 1.5 times for other eligible employees, with 100% vesting of time-based RSUs
  • Non-change-in-control CEO severance: cash equal to annual base salary, actual bonus, and 12 months of COBRA coverage
  • Filing does not state a dollar value of potential payments

The filing

CompanyServiceNow (NOW)
Form8-K, current report
Filed with the SECDec 27, 2024, 4:13 PM ET
Accession number0001373715-24-000426

Items reported: 5.02 Director / Officer Change

Read the filing on SEC.gov ↗

Written by AI on Nov 8, 2026, 1:21 AM ET, from this filing only. Written later: this filing was briefed after the fact, when past filings were added to the site, so the brief may be read with hindsight; the filing itself is the record of what was known on December 27, 2024.

Briefs are written by AI from the filing text and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the AI's reading of the filing for shareholders, not a price forecast. Not investment advice.