Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
Item 5.02(b) and (c)
On April 19, 2022, the Board of Directors of Samsara Inc. (“Samsara” or the “Company”) approved the appointment of Mr. J. Andrew Munk as the Company’s Chief Accounting Officer, effective May 4, 2022 (the “Effective Date”). As of the Effective Date, Mr. Munk will serve as the Company’s principal accounting officer. Mr. Dominic Phillips, the Company’s Executive Vice President and Chief Financial Officer, will serve as principal accounting officer until the Effective Date and will continue to serve as principal financial officer.
Mr. Munk, age 58, most recently served as Senior Vice President and Chief Accounting Officer of VMware, Inc. (“VMware”), a technology company, leading the company’s accounting functions from December 2019 to May 2022. Mr. Munk previously served as the Vice President and Corporate Controller of VMware from April 2016 to December 2019. Before joining VMware in 2013, Mr. Munk spent 14 years in controller and accounting positions of increasing responsibility at Applied Materials, Inc., last serving as Vice President, global accounting controller. Mr. Munk began his career in public accounting and attained the level of audit manager at Deloitte & Touche. Mr. Munk holds a Bachelor of Science in Business Administration & Accounting from California State University Fresno and is a certified public accountant (inactive) in California.
Mr. Munk has entered into a contract of employment with Samsara, pursuant to which he will receive an annual base salary of $330,000 and be eligible to receive a performance bonus of up to $132,000 annually. Mr. Munk will also receive a restricted stock unit award valued at $3.5 million, which will vest in equal quarterly installments over four years, subject to his continued employment.
In connection with his appointment as Chief Accounting Officer, Samsara expects to enter into its form of indemnification agreement with Mr. Munk. Mr. Munk is eligible to participate in the Company’s Executive Change in Control and Severance Plan, which may provide severance benefits to Mr. Munk in the event that he is terminated without cause in connection, or not in connection, with a change of control.
Mr. Munk has no family relationships with any director, executive officer, or person nominated or chosen by Samsara to become a director or executive officer of Samsara. Mr. Munk is not a party to any transaction required to be disclosed pursuant to Item 404(a) of Regulation S-K.
