Fox legal transition plans announced October 19, 2026, will put Nicholas Trutanich in the general counsel role effective December 1. Adam Ciongoli will step down as chief legal and policy officer on the same date and begin an 18-month advisory assignment, with separate arrangements covering his departure payments and consulting fees.
Key Takeaways
- Nicholas Trutanich will move from deputy general counsel to general counsel on December 1, 2026.
- Adam Ciongoli’s departure terms include a $12,595,784 cash payment in exchange for outstanding equity awards.
- Ciongoli will advise Fox for 18 months at an annual consulting rate of $1.75 million.
Table of Contents
- Fox legal transition pairs an internal promotion with advisory support
- Ciongoli’s separation and consulting payments are distinct
- Trutanich’s agreement sets salary and incentive targets
- Conclusion
Fox legal transition pairs an internal promotion with advisory support
Fox’s October 19 Form 8-K sets out the coordinated leadership change and the agreements governing both executives. Trutanich currently serves as executive vice president and deputy general counsel, making the appointment an internal promotion rather than an outside hire.
Trutanich previously served as Fox’s executive vice president and chief ethics and compliance officer. Before joining the company, he was United States attorney for the District of Nevada.
The incoming and outgoing positions carry different titles: Trutanich will become general counsel, while Ciongoli is leaving the chief legal and policy officer post. Ciongoli’s continuing advisory assignment will cover ongoing legal, policy and regulatory matters.
| Item | Details |
|---|---|
| Trutanich base salary | $1,400,000 |
| Annual bonus target | $1,400,000; subject to participation in Fox’s annual bonus program |
| Annual long-term incentive target | $2,200,000 under the shareholder alignment plan or another company long-term incentive plan |
Ciongoli’s separation and consulting payments are distinct
Ciongoli’s separation payment will equal one year of his annual base salary plus his target annual bonus for fiscal 2027. The filing’s summary does not give the dollar amounts for those two components, so it does not establish a complete dollar total for his departure package.
Separately, Fox will cancel his outstanding equity awards in exchange for $12,595,784 in cash. His vested stock options will remain exercisable for three years after separation, but not beyond each option’s original term.
Fox will also pay for COBRA health coverage for Ciongoli and his eligible dependents until the earliest of June 1, 2028, eligibility for coverage from a subsequent employer or the maximum COBRA period.
Under the advisory agreement, Ciongoli will receive an annual consulting fee of $1,750,000, paid in monthly installments of $145,833.33 over the 18-month term. That consulting compensation is separate from the separation payment and equity-related cash payment.
Trutanich’s agreement sets salary and incentive targets
Trutanich’s employment agreement provides a base salary, eligibility for an annual bonus and eligibility for long-term incentive awards. The bonus and long-term award figures are targets, not amounts already earned or paid.
He will also participate in employee benefit plans applicable to comparable Fox executives and have access to severance and other post-termination benefits consistent with the company’s standard form of employment agreement.
Conclusion
The next scheduled milestone is December 1, 2026, when Trutanich’s general counsel appointment and Ciongoli’s advisory agreement are set to take effect.
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