GitLab up 11% after board adopts amendments to severance plan

In a regulatory filing, GitLab disclosed that on June 22, the board of directors of the company adopted amendments to the company’s existing severance plan, applicable to certain team members of the company, including the company’s named executive officers, in connection with a periodic review of the plan. “The amendments to the Plan include an amendment to the definition of “CIC Severance” to clarify that an individual’s equity awards may not be subject to cancellation by the Board in connection with a Corporate Transaction (as defined in the Plan) without consideration,” the filing stated. In Wednesday morning trading, shares of GitLab are up $4.62, or 11%, to $48.22.