TD SYNNEX updates role and pay for Dennis Polk
TD SYNNEX Corporation updated the employment terms for Dennis Polk as Chair, Hyve Solutions Holdings, effective December 1, 2025.
Rhea-AI Filing Summary
TD SYNNEX Corporation updated the employment terms for Dennis Polk as Chair, Hyve Solutions Holdings, effective December 1, 2025. He will continue reporting solely to the CEO and remain on the Board of Directors.
Under the new offer letter, Mr. Polk will receive an annual base salary of $840,000 and be eligible for an annual incentive bonus targeted at 100% of his base salary, based on performance metrics set by the Board’s Compensation Committee. He is also slated to receive equity awards in TD SYNNEX common stock with a fair market value of approximately $1,500,000, allocated 60% to time-based restricted stock and 40% to performance-based restricted stock units, granted alongside other executives’ annual awards.
The offer letter includes severance protections, providing certain payments if Mr. Polk is terminated without “cause” or resigns for “good reason,” including similar provisions tied to a change of control of the company.
Positive
- None.
Negative
- None.
8-K Event Classification
2 items: 5.02, 9.01
2 items
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, or exhibit attachments filed with this report.
Key Figures
Annual base salary: $840,000 per year
Target bonus: 100% of base salary
Equity award value: $1,500,000 fair market value
+4 more
7 metrics
Annual base salary
$840,000 per year
Compensation for Dennis Polk as Chair, Hyve Solutions Holdings
Target bonus
100% of base salary
Annual incentive bonus opportunity for Dennis Polk
Equity award value
$1,500,000 fair market value
TD SYNNEX common stock awards for Dennis Polk
Time-based restricted stock portion
60% of equity value
Structure of Dennis Polk’s equity awards
Performance-based RSU portion
40% of equity value
Structure of Dennis Polk’s equity awards
Offer letter date
May 5, 2026
Date of updated offer letter with Dennis Polk
Effective role date
December 1, 2025
Effective date of terms for Chair, Hyve Solutions Holdings
Key Terms
annual incentive bonus, restricted stock, performance-based vesting restricted stock units, change of control, +1 more
5 terms
annual incentive bonus financial
"eligible to receive an annual incentive bonus targeted at 100% of his base salary"
restricted stock financial
"60% of which will be comprised of time-based vesting restricted stock"
Shares granted to an individual that carry limits on transfer or sale until certain conditions are met, such as staying with the company for a set time or hitting performance targets. Think of them as a locked gift that gradually opens; for investors they matter because they affect how many shares may enter the market later, signal management incentives and potential dilution, and reveal confidence in future company performance.
performance-based vesting restricted stock units financial
"40% of which will be comprised of performance-based vesting restricted stock units"
change of control financial
"in connection with a change of control of the Company"
A change of control occurs when the ownership or management of a company shifts significantly, such as through a sale, merger, or acquisition, resulting in new leadership or ownership structure. This change can impact the company's direction and decision-making, which is important for investors because it may affect the company's stability, strategy, and future prospects.
termination without cause financial
"in the event of a termination without “cause” or by Mr. Polk for “good reason”"
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
What role will Dennis Polk hold at TD SYNNEX (SNX) under the new offer letter?
Dennis Polk will continue as Chair, Hyve Solutions Holdings, reporting solely to TD SYNNEX’s CEO and remaining on the Board. The updated offer letter formalizes this position and associated compensation structure effective December 1, 2025. It also links his incentives to performance metrics.
What is Dennis Polk’s new base salary at TD SYNNEX (SNX)?
Dennis Polk’s annual base salary is set at $840,000 under the updated offer letter. This amount is subject to annual review by the company. His total compensation package also includes a performance-based bonus opportunity and equity awards in TD SYNNEX common stock.
How is Dennis Polk’s bonus structured at TD SYNNEX (SNX)?
Dennis Polk is eligible for an annual incentive bonus targeted at 100% of his base salary. The actual bonus amount depends on performance metrics established by the Board’s Compensation Committee, aligning his cash incentives with company and role-specific goals.
What equity awards will Dennis Polk receive from TD SYNNEX (SNX)?
Dennis Polk will receive equity awards in TD SYNNEX common stock with a fair market value of about $1,500,000. The package is split 60% into time-based restricted stock and 40% into performance-based restricted stock units, granted alongside other executives’ annual awards.
Does Dennis Polk’s TD SYNNEX (SNX) offer letter include change-of-control protection?
Yes. The offer letter provides for certain payments if Dennis Polk is terminated without “cause” or resigns for “good reason,” including when such termination occurs in connection with a change of control of TD SYNNEX. These protections are defined in the offer letter’s terms.
When was Dennis Polk’s updated offer letter at TD SYNNEX (SNX) signed?
The updated offer letter with Dennis Polk is dated May 5, 2026. It governs his role as Chair, Hyve Solutions Holdings, and sets his compensation terms effective December 1, 2025, including salary, bonus eligibility, equity awards, and severance-related provisions.
AI-generated analysis. How Rhea-AI works. Not financial advice.
