Summary by Futu AI
On October 30, 2024, Hewlett Packard Enterprise's HR and Compensation Committee modified the non-GAAP net income growth target for segment two of the fiscal 2022 Performance-Adjusted Restricted Stock Unit (PARSU) awards. This adjustment removes income related to Russia and Belarus businesses from fiscal 2021 and 2022 financial results, enabling a consistent year-over-year growth comparison.The modification was deemed necessary due to HPE's decision to exit operations in Russia and Belarus following the Russia-Ukraine conflict and subsequent sanctions. This exit negatively impacted the company's non-GAAP net income growth measurement for the fiscal 2022 PARSU awards.As a result of this modification, the total payout for segment two of the fiscal 2022 PARSUs is estimated to increase by approximately 37% compared to the payout without the adjustment. The PARSUs, tied to non-GAAP net income growth and relative total shareholder return, cover the performance period from November 1, 2021, to October 31, 2024.
Comment(0)
Reason For Report