other material
confidence high
sentiment neutral
materiality 0.40
Enviri amends change-in-control severance agreements; CEO gets 3x multiple
ENVIRI Corp
- CEO Grasberger receives 3x base salary + target incentive upon qualifying termination after change in control; three other executives receive 2x.
- New provision accelerates vesting of unvested equity awards if termination follows a 'Material Divestment' (sale causing ≥33% EBITDA drop).
- Agreements cover four named executives: Grasberger, Vadaketh (CFO), Kozak (CHRO), Hochman (GC).
- Automatic three-year term with annual renewal; protection period extends two years after change in control.