Goodyear’s latest Form 8-K with the SEC is short, with big numbers. The board elected David E. Phillips executive vice president, chief legal officer and head of enterprise transformation, effective November 1, and the filing spells out what the extra hat pays: an $850,000 base salary, an $850,000 annual bonus target and an additional restricted stock unit grant worth $1,250,000, expected in February 2027.
Chief legal officers keep picking up jobs that are not strictly legal, and boards pay for the stretch. Handing enterprise transformation to the legal chief is a vote of confidence in the general counsel as a business operator. For the other end of the CLO pay story, see Fox’s exiting CLO package, and for what GC and CLO pay looks like below the proxy-statement level, our general counsel salary guide has the surveys. Ohio-based? See who’s hiring on our Ohio legal jobs page.
From the filing: “As a result of his additional responsibilities, Mr. Phillips will receive an annual base salary of $850,000 and will continue to participate in the Company’s Executive Annual Incentive Plan, with an updated annual target of $850,000.”
Read: The Goodyear Tire & Rubber Company Form 8-K at SEC EDGAR