Item 5.02 Departure of Directors or Certain Officers; Election of Directors;
Appointment of Certain Officers; Compensatory Arrangements of Certain Officers
(b)
Mukhtar Ahmed, President, Science Segment of Clarivate Plc (the "Company") will
step down from his position, effective April 1, 2022. Following such date, Mr.
Ahmed will remain available in an advisory capacity until October 1, 2022.
The Company's press release dated January 10, 2022 announcing this management
change is attached hereto as Exhibit 99.1.
(e)
On January 7, 2022, the Company entered into a separation agreement with Mr.
Ahmed. The separation agreement includes customary terms and conditions and
provides that Mr. Ahmed is entitled to the following: (i) cash, composed of
severance and a prorated portion of his 2022 bonus, in the total amount of
approximately $2,406,000 (converted from pounds (GBP) at the exchange rate as of
January 7, 2022) payable (a) one third within 30 days of October 1, 2022 and (b)
the remaining two thirds paid in four quarterly installments following October
1, 2022; and (ii) accelerated vesting of 28,591 unvested restricted stock units.
In addition, the period of time during which any vested stock options will
remain exercisable will be extended to December 31, 2024.
The foregoing description of the agreement with Mr. Ahmed contained herein does
not purport to be complete and is qualified in its entirety by reference to the
complete text of his agreement, a copy of which will be filed as an exhibit to
the Company's Annual Report on Form 10-K for the year ended December 31, 2021.
Item 9.01. Financial Statements and Exhibits
(d) Exhibits
No. Description
99.1 Press release issued by Clarivate Plc dated January 10, 2022.
104 Cover page of this Current Report on Form 8-K formatted in Inline XBRL.
--------------------------------------------------------------------------------
© Edgar Online, source Glimpses
CLARIVATE PLC 
