TD SYNNEX (NYSE: SNX) sets new pay terms for Chief Legal Officer
Rhea-AI Filing Summary
TD SYNNEX Corporation updated the employment terms for Chief Legal Officer David Vetter, effective July 10, 2026. He will continue reporting solely to the CEO, with an annual base salary of $670,000 and eligibility for an annual incentive bonus targeted at 100% of base salary.
The updated terms include annual equity awards 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 executive officers. The offer letter also provides severance protections upon certain terminations, including in connection with a change of control, and includes non-solicitation covenants.
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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, and exhibit attachments filed with this report.
Key Figures
Base salary: $670,000 per year
Bonus target: 100% of base salary
Equity award value: Approximately $1,500,000
+3 more
6 metrics
Base salary
$670,000 per year
Annual base salary for Chief Legal Officer under the July 10, 2026 Offer Letter
Bonus target
100% of base salary
Target annual incentive bonus opportunity tied to performance metrics
Equity award value
Approximately $1,500,000
Annual equity awards’ fair market value for Chief Legal Officer
Time-based equity portion
60%
Portion of equity awards in time-based vesting restricted stock
Performance-based equity portion
40%
Portion of equity awards in performance-based restricted stock units
Effective date
July 10, 2026
Effective date of the updated Offer Letter for David Vetter
Key Terms
performance-based vesting restricted stock units, change of control, non-solicitation provision, good reason, +1 more
5 terms
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.
non-solicitation provision regulatory
"contains certain restrictive covenants, including a non-solicitation provision"
good reason financial
"or by Mr. Vetter for “good reason” (as such terms are defined in the Offer Letter)"
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.
AI-generated analysis. How Rhea-AI works. Not financial advice.
FAQ
What changes did TD SYNNEX (SNX) make to David Vetter’s compensation?
TD SYNNEX updated Chief Legal Officer David Vetter’s pay to include a $670,000 base salary, a bonus targeted at 100% of base salary, and equity awards worth about $1,500,000 split between time-based restricted stock and performance-based RSUs.
What is David Vetter’s new base salary at TD SYNNEX (SNX)?
David Vetter’s annual base salary is set at $670,000, subject to annual review. He also remains eligible for an annual incentive bonus and significant equity awards under the updated Offer Letter effective July 10, 2026.
How is the equity compensation structured for TD SYNNEX (SNX) Chief Legal Officer?
David Vetter will receive equity awards with a fair market value of about $1,500,000, with 60% in time-based restricted stock and 40% in performance-based restricted stock units, granted at the same time as other executive officers’ annual equity grants.
What bonus opportunity does TD SYNNEX (SNX) provide to David Vetter?
David Vetter 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 Compensation Committee and is prorated for any base salary increases during the fiscal year.
Does the updated TD SYNNEX (SNX) Offer Letter include severance or change-of-control protection?
Yes. The Offer Letter provides certain payments to David Vetter if his employment ends without “cause” or for “good reason”, including in connection with a change of control, and includes restrictive covenants such as a non-solicitation provision.
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): July 10, 2026
_________________________________________________
(Exact name of registrant as specified in its charter)
_________________________________________________
| (State or Other Jurisdiction of Incorporation) | (Commission File Number) | (I.R.S. Employer Identification Number) | ||||||
(Address of principal executive offices) | (Zip Code) | |||||||
(727 ) 539-7429
(Registrant’s telephone number, including area code)
(Former name or former address, if changed since last report.)
_________________________________________________
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligations 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 Symbol(s) | Name of each exchange on which registered | ||||||||||||
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. | |||||||||||||
(e) On July 10, 2026, TD SYNNEX Corporation (the “Company”) entered into an updated offer letter with respect to the terms and conditions of David Vetter’s employment with the Company as Chief Legal Officer of the Company, effective as of July 10, 2026 (the “Offer Letter”).
Pursuant to the terms of the Offer Letter, Mr. Vetter continues to serve as Chief Legal Officer, reporting solely to the Company’s Chief Executive Officer. Mr. Vetter receives an annual base salary of $670,000, subject to annual review, and is eligible to receive an annual incentive bonus targeted at 100% of his base salary as in effect as of the beginning of the fiscal year and prorated for any increases during such fiscal year with the actual amount of the bonus based on the achievement of performance metrics established by the Compensation Committee of the Company’s Board of Directors. In addition, the Offer Letter provides that Mr. Vetter will be granted equity awards with a fair market value of approximately $1,500,000, 60% of which will be comprised of time-based vesting restricted stock and 40% of which will be comprised of performance-based vesting restricted stock units. The equity awards will be granted at the same time as annual equity grants are made to all other executive officers.
The Offer Letter also provides for certain payments to Mr. Vetter in the event of a termination without “cause” or by Mr. Vetter for “good reason” (as such terms are defined in the Offer Letter) and also in the event of a termination without “cause” or by Mr. Vetter for “good reason” in connection with a change of control of the Company. The Offer Letter contains certain restrictive covenants, including a non-solicitation provision for the benefit of the Company.
The foregoing description of the Offer Letter is qualified in its entirety by reference to the Offer Letter which is attached hereto and filed as Exhibit 10.1 to this Current Report on Form 8-K and is incorporated herein by reference.
| Item 9.01 | Financial Statements and Exhibits. | |||||||||||||
(d) Exhibits.
| Exhibit No. | Description of Document | |||||||||||||
10.1#+ | Offer Letter with David Vetter dated July 10, 2026. | |||||||||||||
| 104 | Cover Page Interactive Data File (embedded within the Inline XBRL document). | |||||||||||||
# Indicates management contract or compensatory plan or arrangement.
+Schedules (or similar attachments) and certain information have been omitted pursuant to Items 601(a)(5), 601(a)(6) and/or 601(b)(10)(iv) of Regulation S-K. TD SYNNEX hereby undertakes to furnish supplementally a copy of any omitted schedule or exhibit to such agreement to the U.S. Securities and Exchange Commission upon request; provided, however, that TD SYNNEX may request confidential treatment pursuant to Rule 24b-2 of the Securities Exchange Act of 1934, as amended, for any schedules or exhibits so furnished.
SIGNATURE
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.
| Date: July 16, 2026 | TD SYNNEX CORPORATION | |||||||
| By: | /s/ David Vetter | |||||||
| David Vetter | ||||||||
| Chief Legal Officer and Corporate Secretary | ||||||||