Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers OnApril 1, 2020 , the Board of Directors (the "Board") ofF5 Networks, Inc. (the "Company") appointed Mr.Sripada Shivananda as a director.Mr. Shivananda will serve as a member of the Board's Audit Committee. In connection with his services as a director,Mr. Shivananda will be entitled to the customary compensation arrangements for the Company's non-employee directors (including entering into the Company's standard indemnification agreement for directors and officers); an annual retainer in the amount of$60,000 ; and an annual payment of$20,000 as a member of the Audit Committee. The Board is expected to approve a grant toMr. Shivananda to be made effectiveMay 1, 2020 under the Company's 2014 Incentive Plan of restricted stock units having a grant date value of$250,000 . Item 8.01 Other Events
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(d) Exhibits:
99.1 Press Release of
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