The latest update is out from Mativ Holdings (MATV).
Mativ Holdings, Inc. has introduced a new Executive Severance Plan designed to attract and retain key employees, ensuring business stability, especially during any potential company takeover. The plan, effective from July 6, 2024, offers generous severance packages to top executives—based on salary and bonuses, healthcare premium payments, and accelerated vesting of equity and long-term awards—in cases of involuntary termination without cause or resignation with good reason, with richer benefits if the departure is linked to a change of control. Participants must agree to certain legal terms to receive these benefits.
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