Item 5.02 Departure of Directors or Certain Officers; Election of Directors;
Appointment of Certain Officers; Compensatory Arrangements of Certain
Officers
On June 14, 2021, the Board of Directors (the "Board") of F5 Networks, Inc. (the
"Company") appointed Mr. Michael Montoya as a director. Mr. Montoya will serve
as a member of the Board's Audit and Risk Oversight Committee.
In connection with his services as a director, Mr. Montoya 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 and Risk Oversight Committee.
The Board is expected to approve a grant to Mr. Montoya to be made effective
August 2, 2021 under the Company's 2014 Incentive Plan of restricted stock units
having a grant date value of $250,000.
Item 8.01 Other Events
On June 17, 2021, the Company issued a press release announcing the election to
the Board of Mr. Montoya. A copy of the press release is furnished as Exhibit
99.1 to this Form 8-K and is incorporated herein by reference.
Item 9.01 Financial Statements and Exhibits
(d) Exhibits:
99.1 Press Release of F5 Networks, Inc. dated June 17, 2021.
104 Cover Page Interactive Data File (embedded within the Inline XBRL document).
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