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Fox Corporation (NASDAQ: FOX) boosts pay, extends top leaders to 2030

Filing Impact
(Moderate)
Filing Sentiment
(Neutral)
Form Type
8-K

Rhea-AI Filing Summary

Fox Corporation has extended the employment and compensation arrangements for its top two executives, reinforcing leadership stability through June 30, 2030.

Executive Chair and CEO Lachlan K. Murdoch will continue in his role, with his target annual bonus set at $9,000,000 and his target annual equity award set at $20,000,000, both effective July 1, 2026. The filing notes he recused himself from all discussions and votes on his own package.

Chief Financial Officer Steven Tomsic also received a term extension to June 30, 2030. Beginning July 1, 2026, his base salary will be $2,000,000 per year, his target annual bonus will be $3,000,000 (rising to $3,500,000 on July 1, 2028), and his target annual equity award will be $4,000,000. Full terms are contained in a form of employment extension letter filed as an exhibit.

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Insights

Fox locks in CEO and CFO to 2030 with higher pay packages.

Fox Corporation’s board and Compensation Committee unanimously extended the employment terms of CEO Lachlan Murdoch and CFO Steven Tomsic to June 30, 2030. The extensions are paired with higher target cash bonuses and equity awards starting July 1, 2026.

For Murdoch, the package centers on a $9,000,000 target annual bonus and a $20,000,000 target annual equity award. Tomsic’s base salary moves to $2,000,000, with target bonuses rising to $3,000,000 and later $3,500,000, plus a $4,000,000 equity target.

These changes emphasize retention of the existing leadership team and a heavy use of variable and equity-based pay. The filing notes Murdoch recused himself from deliberations on his own compensation, and detailed terms are set out in the employment extension letter exhibit.

Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers Governance
Key personnel changes including departures, elections, or appointments of directors and executive officers.
Item 9.01 Financial Statements and Exhibits Exhibits
Financial statements, pro forma financial information, and exhibit attachments filed with this report.
CEO target annual bonus $9,000,000 Effective July 1, 2026 for Lachlan K. Murdoch
CEO target annual equity award $20,000,000 Effective July 1, 2026 for Lachlan K. Murdoch
CFO base salary $2,000,000 per annum Effective July 1, 2026 for Steven Tomsic
CFO target annual bonus (2026) $3,000,000 Effective July 1, 2026 for Steven Tomsic
CFO target annual bonus (2028) $3,500,000 Effective July 1, 2028 for Steven Tomsic
CFO target annual equity award $4,000,000 Effective July 1, 2026 for Steven Tomsic
Executive term end date June 30, 2030 Employment arrangements for CEO and CFO
target annual bonus financial
"increase, beginning July 1, 2026, in Mr. Murdoch’s target annual bonus to $9,000,000"
target annual equity award financial
"and target annual equity award to $20,000,000"
employment and compensatory arrangement financial
"approved an extension of the term of the employment and compensatory arrangement with Mr. Lachlan K. Murdoch"
Compensation Committee regulatory
"the Compensation Committee (the “Committee”) of the Board of Directors"
A compensation committee is a group within a company's leadership responsible for setting and reviewing how much top executives and employees are paid, including salaries, bonuses, and benefits. It matters to investors because fair and effective pay decisions can influence a company's performance, leadership motivation, and overall governance, helping ensure that the company’s management is aligned with shareholders’ interests.
Inline XBRL technical
"Cover Page Interactive Data File (embedded within the Inline XBRL document)"
Inline XBRL is a file format for financial filings that embeds machine-readable data tags directly inside the human-readable report, so the same document can be read by people and parsed by software. For investors it makes extracting, comparing and verifying financial numbers faster and more reliable—like a grocery list where each item also has a barcode—reducing manual errors and speeding up analysis.
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Understanding 8-K Material Events →
0001754301FALSE00017543012026-06-112026-06-110001754301us-gaap:CommonClassAMember2026-06-112026-06-110001754301us-gaap:CommonClassBMember2026-06-112026-06-11

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d)
OF THE SECURITIES EXCHANGE ACT OF 1934
DATE OF REPORT
(DATE OF EARLIEST EVENT REPORTED)
June 11, 2026
Fox Corporation
(EXACT NAME OF REGISTRANT AS SPECIFIED IN ITS CHARTER)
Delaware 001-38776 83-1825597
(STATE OR OTHER JURISDICTION
OF INCORPORATION)
 
(COMMISSION
FILE NO.)
 
(IRS EMPLOYER
IDENTIFICATION NO.)
1211 Avenue of the Americas, New York, New York 10036
(ADDRESS OF PRINCIPAL EXECUTIVE OFFICES, INCLUDING ZIP CODE)
(212) 852-7000
(REGISTRANT’S TELEPHONE NUMBER, INCLUDING AREA CODE)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
☐Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
☐Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
☐Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
☐Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Securities registered pursuant to Section 12(b) of the Act:
Title of Each Class 
Trading
Symbols
 
Name of Each Exchange
on Which Registered
Class A Common Stock, par value $0.01 per share FOXA The Nasdaq Global Select Market
Class B Common Stock, par value $0.01 per share FOX The Nasdaq Global Select Market
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company ☐
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐



Item 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

Amendment to Named Executive Officer Employment Arrangements

On June 11, 2026, the Compensation Committee (the “Committee”) of the Board of Directors (the “Board”) of Fox Corporation (the “Company”) and the Board each unanimously approved an extension of the term of the employment and compensatory arrangement with Mr. Lachlan K. Murdoch, the Company’s Executive Chair and Chief Executive Officer, through June 30, 2030. In addition, the Committee and the Board each unanimously approved an increase, beginning July 1, 2026, in Mr. Murdoch’s target annual bonus to $9,000,000 and target annual equity award to $20,000,000. Mr. Murdoch recused himself from all discussions and votes regarding his employment term extension and compensation adjustments.

On June 11, 2026, the Committee and the Board each unanimously approved an extension of the term of the employment and compensatory arrangement with Mr. Steven Tomsic, the Company’s Chief Financial Officer, through June 30, 2030. In addition, the Committee and the Board each unanimously approved an increase, beginning July 1, 2026, in Mr. Tomsic’s base salary to $2,000,000 per annum, target annual bonus to $3,000,000 (with a further increase to $3,500,000 effective as of July 1, 2028) and target annual equity award to $4,000,000.

The foregoing description of the amended employment arrangements does not purport to be complete and is qualified in its entirety by reference to the form of employment agreement extension letter filed as Exhibit 10.1 hereto and incorporated herein by reference.
Item 9.01. Financial Statements and Exhibits.
(d) Exhibits
Exhibit
Number		 Description
3.1
Form of Employment Extension Letter
104 Cover Page Interactive Data File (embedded within the Inline XBRL document).



SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
FOX CORPORATION
By: /s/ Adam G. Ciongoli
 Name: Adam G. Ciongoli
 Title: Chief Legal and Policy Officer
June 11, 2026

Source: View Original Filing on SEC EDGAR

FAQ

What did Fox Corporation (FOX) change in Lachlan Murdoch’s compensation?

Fox increased Lachlan Murdoch’s target annual bonus to $9,000,000 and his target annual equity award to $20,000,000, starting July 1, 2026. These adjustments accompany an extension of his employment and compensation arrangement through June 30, 2030 as Executive Chair and CEO.

How long are Lachlan Murdoch and Steven Tomsic now contracted to stay at Fox (FOX)?

Both Lachlan Murdoch and CFO Steven Tomsic have employment and compensatory arrangements extended through June 30, 2030. This formalizes long-term commitments for Fox Corporation’s top leadership and reflects the Board’s unanimous approval of multi-year retention for its chief executive and finance leader.

What new salary and bonus targets did Fox set for CFO Steven Tomsic?

Starting July 1, 2026, Steven Tomsic’s base salary rises to $2,000,000 annually, with a target annual bonus of $3,000,000. His bonus target further increases to $3,500,000 on July 1, 2028, alongside a target annual equity award of $4,000,000.

When do the new Fox (FOX) executive compensation levels take effect?

The updated compensation terms for both executives begin on July 1, 2026. That date applies to Lachlan Murdoch’s higher bonus and equity targets and Steven Tomsic’s increased base salary, bonus level, and equity target, with Tomsic’s bonus stepping up again on July 1, 2028.

Did Lachlan Murdoch vote on his own pay changes at Fox Corporation (FOX)?

No. The filing states that Lachlan K. Murdoch recused himself from all discussions and votes regarding his employment term extension and compensation adjustments. The Compensation Committee and full Board unanimously approved the changes without his participation in those decisions.

Where can investors find full details of Fox’s amended executive employment terms?

Full details are contained in a form of employment extension letter filed as Exhibit 3.1. The 8-K specifies that the summary is qualified in its entirety by reference to this exhibit, which outlines the complete contractual terms for the extended arrangements.

Filing Exhibits & Attachments

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