Sirius XM Holdings Inc. filed a Form 8-K on November 9, 2026, disclosing the appointment of Anjali Sud as Chief Executive Officer effective January 1, 2027, and the departure of Jennifer C. Witz from that role and from the board effective December 31, 2026.

Key Highlights

  • New CEO appointment: Anjali Sud, age 43, will become Chief Executive Officer on January 1, 2027, succeeding Jennifer C. Witz.
  • Annual base salary: Ms. Sud will receive a base salary of $2,600,000, with an annual target bonus equal to two times her base salary, payable at no less than target for 2027.
  • Sign-on RSU award: Ms. Sud is to receive a sign-on time-based RSU grant with a grant date fair value of $10,000,000, vesting one-third on the grant date and one-third on each of the first two anniversaries of the Start Date.
  • Additional equity grants: Two further awards of $4,500,000 each in time-based and performance-based RSUs are planned, plus annual equity awards of no less than $9,000,000 per year for 2028 and 2029.
  • Witz advisory role: Jennifer C. Witz will serve as an advisory consultant from January 1, 2027 through December 31, 2027, receiving a consulting fee of $175,000 per month.
  • Severance terms: Upon a termination without cause or for good reason, Ms. Sud is entitled to a lump sum equal to two times (or three times following a change of control) the sum of her base salary and the greater of her target bonus or last paid bonus.
  • Employment term: The agreement runs from January 1, 2027 through December 31, 2029, subject to automatic one-year renewals with at least 90 days' written notice required from either party to prevent renewal.

Sirius XM's CEO Transition: Sud's Background and Compensation Structure

Sirius XM Holdings Inc. (NASDAQ:SIRI), the audio entertainment company, disclosed the appointment of Anjali Sud to lead the company beginning January 1, 2027. According to the filing, Ms. Sud has served as a director on the Sirius XM board since March 2025. Prior to this appointment, she was Chief Executive Officer of Tubi, Inc., a free ad-supported TV streaming service and subsidiary of Fox Corporation, from September 2023 onward. Before that, she led Vimeo, Inc. as CEO from July 2017 to August 2023, a company described in the filing as "a provider of cloud-based software tools that enable creative professionals, marketers and enterprises to stream, host, distribute and monetize videos online and across devices."

The employment agreement, as described in the filing, is between Ms. Sud and Sirius XM Radio LLC, a subsidiary of the company. It provides for a $2,600,000 annual base salary and a target annual bonus of two times that amount. Three equity grants are planned under the company's 2024 Long-Term Stock Incentive Plan: a $10,000,000 sign-on RSU award with a split vesting schedule, $4,500,000 in time-based RSUs vesting annually over three years beginning on the first anniversary of the Start Date, and $4,500,000 in performance-based RSUs tied to metrics covering the period January 1, 2027 through December 31, 2029. The filing notes that beginning in 2028, annual equity grants will be no less than $9,000,000 per year for each of 2028 and 2029.

Regarding Ms. Witz, the filing states that the company entered into a transition agreement honoring the terms of her existing employment arrangement, including continued eligibility for a 2026 annual bonus and vested stock options remaining exercisable for the remaining period of their term. Her advisory consulting arrangement carries a fee of $175,000 per month, payable subject to continued provision of services. The Transition Agreement includes a release of claims and acknowledgement of her restrictive covenant obligations, according to the filing.

What Was Disclosed

Sirius XM Holdings Inc. reported the departure of CEO Jennifer C. Witz effective December 31, 2026, the appointment of Anjali Sud as CEO effective January 1, 2027, and the material terms of Ms. Sud's employment agreement and Ms. Witz's transition agreement, including compensation, equity grants, and severance provisions.