Gorman-Rupp signs new change-of-control severance agreements for CEO, CFO, general counsel
Bitget2026/10/02 12:40- Gorman-Rupp entered new change-of-control severance agreements on Oct. 1, 2026 for CEO Scott A. King, CFO Ronald F. Stoops, Brigette A. Burnell.
- CEO payout set at 3x base salary plus prior bonus amount, with a prorated annual bonus, if triggered.
- Other covered executive officers set for 2x base salary plus prior bonus amount, with a prorated annual bonus.
- Benefits also cover 18 months of COBRA premiums, retirement benefit uplift tied to 24 months of credited service, equity vesting acceleration.
- Terms apply if a qualifying termination occurs within two years after a change of control, or within six months before one.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
Vale (VALE.US) Q3 Net Profit Halved Year-on-Year to $1.26 Billion; Both Iron Ore Volume and Price Fell, But Revenue Still Surpassed Expectations
One of the world's largest iron ore producers, Vale, reported a significant 53% year-on-year decline in net profit for the third quarter of 2026, dragged down by lower realized iron ore prices and rising freight costs, falling short of market expectations.
Tokyo inflation and a BoJ rate decision come next for a flat Yen
Starbucks (SBUX.US) Q4 U.S. business recovers beyond expectations, new fiscal year growth guidance slows to 4%
Starbucks reported Q4 revenue of $9.14 billion, falling short of expectations. Same-store sales in the U.S. rose by 7.7%. Adjusted EPS was $0.80, exceeding forecasts.
Crypto prices
More
