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

ServiceNow amends CEO McDermott's employment deal, keeps him in service through 2030

Neutral Impact 4 of 5 leadership Written later

ServiceNow amended the employment agreement of CEO William R. McDermott and its Executive Severance Policy, both effective January 1, 2026. The amendment says he will remain with the company through at least December 31, 2030, in a CEO, co-CEO, or chairman role, and updates the severance terms he could receive on a qualifying termination. The filing describes these as contract changes and gives no financial results, so shareholders get clearer succession terms and severance terms but no new earnings or guidance.

Key points

  • Amendment dated December 23, 2025 keeps Mr. McDermott in service through at least December 31, 2030.
  • Upon a qualifying termination within three months before or 12 months after a change in control, the CEO may receive a lump sum of 2 times base salary plus target bonus, 24 months of COBRA benefits, and full vesting of unvested RSUs and PRS
  • Without a change in control, the CEO may receive one year of base salary in a lump sum, the actual bonus, and 12 months of COBRA benefits.

The filing

CompanyServiceNow (NOW)
Form8-K, current report
Filed with the SECDec 23, 2025, 5:12 PM ET
Accession number0001373715-25-000335

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 23, 2025.

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.