Fox Corporation
06/11/2026 | Press release | Distributed by Public on 06/11/2026 14:03
Management Change/Compensation (Form 8-K)
Item 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
Amendment to Named Executive Officer Employment Arrangements
On June 11, 2026, the Compensation Committee (the "Committee") of the Board of Directors (the "Board") of Fox Corporation (the "Company") and the Board each unanimously approved an extension of the term of the employment and compensatory arrangement with Mr. Lachlan K. Murdoch, the Company's Executive Chair and Chief Executive Officer, through June 30, 2030. In addition, the Committee and the Board each unanimously approved an increase, beginning July 1, 2026, in Mr. Murdoch's target annual bonus to $9,000,000 and target annual equity award to $20,000,000. Mr. Murdoch recused himself from all discussions and votes regarding his employment term extension and compensation adjustments.
On June 11, 2026, the Committee and the Board each unanimously approved an extension of the term of the employment and compensatory arrangement with Mr. Steven Tomsic, the Company's Chief Financial Officer, through June 30, 2030. In addition, the Committee and the Board each unanimously approved an increase, beginning July 1, 2026, in Mr. Tomsic's base salary to $2,000,000 per annum, target annual bonus to $3,000,000 (with a further increase to $3,500,000 effective as of July 1, 2028) and target annual equity award to $4,000,000.
The foregoing description of the amended employment arrangements does not purport to be complete and is qualified in its entirety by reference to the form of employment agreement extension letter filed as Exhibit 10.1 hereto and incorporated herein by reference.
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