An announcement from Cytek Biosciences (CTKB) is now available.
Cytek Biosciences, Inc. has updated its Severance Benefit Plan, providing enhanced severance payouts and benefits to key executives in the event of termination. The revised plan, effective from February 20, 2024, offers substantial lump sum payments, COBRA premium coverage, and in certain conditions, accelerated vesting of equity awards, depending on whether the termination occurs within or outside a specified timeframe around a change in control of the company. This move aims to ensure financial stability for the company’s top employees in tumultuous times.
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