Company: ASGN
Filing Date: 2025-03-04
Form Type: 8-K
Source: 0000890564-25-000012
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Company: ASGN Inc
Filing Date: 2025-03-04
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 January 30, 2025, the Company announced the appointment of Sadasivam (Shiv) Iyer as the Company’s President, effective as of March 1, 2025.

Mr. Iyer, age 52, brings over two decades of consulting experience to the Company. He most recently led Accenture’s Consulting and Industry X business across the U. S., Canada, and Latin America, scaling the company’s functional, industry, and technological advisory capabilities. Mr. Iyer also served as Managing Director at Alvarez & Marsal, a global consulting firm, from November 2020 to March 2021. Prior to his tenure at Alvarez & Marsal, Mr. Iyer joined Accenture in 2010 as a managing director in the Products industry vertical, before serving as Market Unit Lead, US Midwest. Mr. Iyer began his career at Wipro Infotech in India. Mr. Iyer holds his bachelor's and master's degrees from the University of Mumbai and an MBA from the Kelley School of Business at Indiana University.

In connection with joining the Company, Mr. Iyer entered into an employment agreement (the “ Employment Agreement”) as described in more detail below. The description below is not complete and is qualified in its entirety by reference to the Employment Agreement, a copy of which will be filed as an exhibit to the Company’s Quarterly Report on Form 10-Q for the quarter ending March 31, 2025.

Under the Employment Agreement, Mr. Iyer is entitled to receive an initial base salary (the “ Base Salary”) of $850,000 per year, and Mr. Iyer is eligible to receive a target annual cash incentive bonus (an “ Annual Bonus”) opportunity equal to 125 percent of his base salary in effect for the relevant year, with the maximum cash performance bonus equal to 200 percent of the target bonus in effect for the relevant year. The Employment Agreement further provides that Mr. Iyer is eligible for a monthly automobile allowance in the amount of $500, an annual physical examination allowance up to $1,500, tax preparation and financial planning services up to $2,500 annually, and reimbursement of up to $10,000 in legal fees incurred in connection with the negotiation of the agreement.

The Employment Agreement provides that Mr. Iyer is eligible to receive annual long-term equity awards in