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8-K: Current report

SEC ·  Nov 5 21:06

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.
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.

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