Item 5.02. Departure of Directors or Certain Officers; Election of Directors;
Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.Xerox Holdings Corporation andXerox Corporation (collectively, "registrant" or "Xerox") announced today that their respective Boards have appointedXavier Heiss to serve as registrant's Executive Vice President and Chief Financial Officer, effectiveJanuary 1, 2021 .Mr. Heiss has been serving as interim Chief Financial Officer sinceSeptember 30, 2020 following the resignation of previous Chief Financial Officer,William F. Osbourn , Jr., as was reported in the Form 8-K Report filed by registrant onSeptember 11, 2020 .Mr. Heiss , 57, has been employed by Xerox for 32 years and has served in various leadership positions in finance, business transformation and sales. Prior to being promoted to Executive Vice President and President of EMEA Operations earlier in 2020,Mr. Heiss served as Xerox Controller and Chief Financial Officer of Xerox's Americas Operations. Prior to that, he served as Vice President of Xerox Financial Planning and Analysis and Global Finance Shared Services. In connection withMr. Heiss being named Chief Financial Officer, registrant has taken the following actions regarding his compensation, effectiveJanuary 1, 2021 : increased his annual cash base salary by$50,000 ; increased his annual cash target bonus amount by$50,000 ; and increased his annual long-term incentive (equity) target award amount by$900,000 .Mr. Heiss' total target 2021 compensation, reflecting these changes, will be: annual cash base salary of$500,000 ; annual cash target bonus of$500,000 ; and annual long-term incentive (equity) target award of$2,000,000 . A copy of registrant's news release announcingMr. Heiss' appointment is being filed as Exhibit 99.1 to this Current Report on Form 8-K.
Item 9.01. Financial Statements and Exhibits.
(d) Exhibits.
Exhibit No. Description of Exhibit 99.1 Xerox press release regarding appointment ofXavier Heiss as Chief Financial Officer. 104 Cover Page Interactive File (the cover page tags are embedded within the Inline XBRL document). 2
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