Nordson discloses severance terms for departing EVP Gregory Merk; cash payment of ~$532K plus equity treatment

NORDSON CORP

Separation Agreement with EVP Gregory Merk, effective Jan 31, 2022, includes cash payment of ~$532,480 (base salary plus COBRA).
Stock options granted >12 months before departure continue vesting; exercisable until Jan 31, 2027 or 10-yr anniversary.
Restricted shares/units (except Continuation Award) vest pro-rata; performance share units vest pro-rata based on actual results.
CEO Sundaram Nagarajan assumes direct leadership of Industrial Precision Solutions segment after Merk's departure.
Outplacement and financial planning services capped at $5,000 each; customary non-compete, non-solicit, confidentiality obligations.

item 5.02

Executive movements

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Departed

Gregory P. Merk

Executive Vice President

NDSN · NORDSON CORP

Effective: 2022-01-31
Filed: February 2, 2022, 6:59 PM ET

the Company and Gregory P. Merk, the Company’s Executive Vice President and a named executive officer, agreed that Mr. Merk would leave the Company on January 31, 2022.

Key facts

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Executive change SEC 8-K Item 5.02 confidence 1.0

Gregory P. Merk departed as Executive Vice President at NORDSON CORP.

Action: departed
Role: Executive Vice President

Exact text from the filing

the Company and Gregory P. Merk, the Company’s Executive Vice President and a named executive officer, agreed that Mr. Merk would leave the Company on January 31, 2022.

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NORDSON CORP filing history →

Source: SEC EDGAR

accession 0000072331-22-000008

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