Kellogg Enhances Executive Compensation and Severance Plans

WK Kellogg Co (KLG) has released an update.

WK Kellogg Co has unveiled an Annual Incentive Plan offering cash incentives to key employees, including executives, based on business and personal performance metrics. They’ve also revised the terms for their restricted share units to modify retirement vesting, ensuring full vesting continues post-retirement, contrary to the previous pro-rata vesting arrangement. Additionally, the board has approved a Severance Plan providing robust benefits to senior employees upon termination under specific conditions, including a severance package and continued equity awards vesting. Moreover, changes to the Change of Control Severance Policy have been made, enhancing benefits and severance payments in the event of a company takeover.

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