Fox's top lawyer Adam Ciongoli to step down, collecting $12.6 million for equity awards

Fox Corporation is changing its top legal officer. The owner of Fox News and Fox Sports said Monday that Adam Ciongoli, its chief legal and policy officer, will not renew his contract and will step down effective Dec. 1.

Ciongoli won't be leaving entirely. He will become a special advisor to the company through June 2028, helping with "ongoing legal, policy, and regulatory matters," according to its 8-K.

The exit package

Under a transition and separation agreement signed Monday, Ciongoli will receive a separation payment equal to one year of base salary plus his target annual bonus for fiscal 2027. Fox did not state the dollar amount of that payment in the filing.

His outstanding equity awards will be canceled in exchange for a cash payment of $12,595,784, the filing says. His vested stock options stay exercisable for three years after he leaves, and Fox will pay for COBRA health coverage for him and his eligible dependents through as late as June 1, 2028.

The advisory agreement pays an annual consulting fee of $1.75 million, in monthly installments of $145,833.33, over its 18-month term.

Who replaces him

Nicholas Trutanich, currently executive vice president and principal deputy general counsel, will become general counsel on Dec. 1 and report to Executive Chair and CEO Lachlan Murdoch, the company said in a press release filed with the 8-K.

Trutanich joined Fox in 2021 as chief ethics and compliance officer and has most recently led its litigation and ethics and compliance functions. Before Fox, he was U.S. attorney for the District of Nevada from 2019 to 2021.

His employment agreement sets a base salary of $1.4 million, a target annual bonus of $1.4 million and an annual long-term incentive target award of $2.2 million, according to the 8-K.

Fox also said Kristopher Jones, executive vice president and head of government relations, will report directly to President and Chief Operating Officer John Nallen starting Dec. 1.

By the numbers

• Cash for canceled equity awards: $12,595,784
• Advisory fee: $1.75 million a year for 18 months
• Trutanich base salary: $1.4 million
• Trutanich target bonus: $1.4 million
• Trutanich annual long-term incentive target: $2.2 million
• Effective date: Dec. 1, 2026

Sources

1. Fox Corporation, Form 8-K (Item 5.02) with Exhibit 10.1 transition and separation agreement, Exhibit 10.2 advisory services agreement and Exhibit 99.1 press release, filed Oct. 19, 2026, accession 0001628280-26-066365

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