secwatch.observer — SEC 8-K summary
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Issuer:     DONALDSON Co INC (DCI)
CIK:        0000029644
Form:       8-K
Filed at:   2023-01-31T23:59:59+00:00
Accession:  0000029644-23-000024
Event type: leadership
Sentiment:  neutral
Materiality: 0.30
Item codes: 5.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Donaldson adopts management change-in-control severance plan effective Feb 1, 2023
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- Plan replaces individual executive agreements; benefits are substantially the same.
- Double-trigger: lump sum cash payment of 2x (3x for CEO) base salary plus target annual incentive.
- Continued medical, dental, and other benefits for up to 3 years; outplacement services included.
- Plan adds requirement for executive to execute a release of claims to receive benefits.
- Restrictive covenants on confidentiality and non-disclosure are conditions of eligibility.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/29644/000002964423000024/0000029644-23-000024-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/29644/000002964423000024/dci-20230125.htm
  HTML page:      https://secwatch.observer/filing/0000029644-23-000024

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer