Company: UIS
Filing Date: 2025-02-19
Form Type: 8-K
Source: 0000746838-25-000005
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Company: UNISYS CORP
Filing Date: 2025-02-19
Form: 8-K
Item: Item 5.02
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Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

On February 12, 2025, the Board of Directors of Unisys Corporation (the “ Company”) elected Chris Arrasmith to Executive Vice President and Chief Operating Officer, effective April 1, 2025. As disclosed on December 5, 2024, Michael Thomson, the Company’s current President and Chief Operating Officer, will cease serving as the Company’s Chief Operating Officer on March 31, 2025, and will serve as the Chief Executive Officer and President and as a director of the Company, effective April 1, 2025.

Mr. Arrasmith, age 49, has been Senior Vice President and General Manager of Enterprise Computing Solutions of the Company since January 2022. Prior to this role, Mr. Arrasmith served as the Company’s Vice President, Business Solutions from July 2021 to December 2021. Prior to his roles at the Company, Mr. Arrasmith held various senior leadership positions at International Business Machines Corporation, a global technology company, from August 2018 to July 2021 and Amelia (formerly known as IPsoft Inc.), an American technology company, from May 2014 to July 2018.

Mr. Arrasmith will receive an annual base salary of $540,000 and an annual target bonus of 100% of earned base salary under the Company’s Executive Variable Compensation Plan. Mr. Arrasmith is also eligible for consideration to receive an equity award at the next annual grant cycle in 2025 and in subsequent years with a target grant date fair value of $1,200,000 under the same terms and conditions as all other grant recipients.

Mr. Arrasmith is eligible for the severance benefits as described in a severance agreement entered into with the Company in the event of involuntary termination and a change-in-control agreement entered into with the Company in the event of a change-in-control of the Company. Further details concerning the severance agreement terms and change-in-control agreement terms are described in the Company’s definitive proxy statement dated March 22, 2024, under the headings “ Executive Officer Severance Agreements” and “ Change-in-Control Agreements” respectively. Mr. Arrasmith will also receive health, welfare and retirement benefits that are generally available to salaried employees of the Company.

There are no arrangements or understandings between Mr. Arr