Simply Good Foods (SMPL) has issued an update.
The Simply Good Foods Company has updated its executive severance and retirement benefit plans, introducing provisions that enhance payouts and vesting conditions in the event of a termination or control change. Key executives now have access to prorated bonuses and accelerated equity vesting should a qualifying termination occur around a change in control. Additionally, the retirement policy now allows employees aged 59 with seven years of service to benefit from continued vesting of stock options and restricted stock units, both performance-based and time-based. These amendments, effective April 17, 2024, aim to improve the financial security and rewards for the company’s senior employees.
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