Olin CEO Scott Sutton to step down by mid-2024; transition agreement details terms

OLIN Corp

Sutton remains employee through June 30, 2024; transitions to Special Advisor when new CEO starts (no earlier than Jan 31, 2024).
Base salary continues at $1.25M annualized; eligible for $1.75M consulting bonus (2023 target STIP), paid in two installments.
2022-2024 PSUs and certain stock options vest subject to service and release; other unvested awards forfeited.
Sutton provides general release of claims and agrees to non-compete, non-solicit, and confidentiality covenants.
He forfeits severance under company's plan but retains CIC plan eligibility until Transition Date.

item 5.02 item 9.01

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Departed

Scott Sutton

President, Chief Executive Officer and Chairman of the Board

OLN · OLIN Corp

Filed: November 2, 2023, 7:59 PM ET

In connection with the previously announced departure of Mr. Scott Sutton, President, Chief Executive Officer and Chairman of the Board of Olin Corporation (the “Company”), which is expected to occur in the first half of 2024, on October 30, 2023, the Company and Mr. Sutton entered into a transition agreement (the “Transition Agreement”).

Key facts

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Executive change SEC 8-K Item 5.02 confidence 0.95

Scott Sutton departed as President, Chief Executive Officer and Chairman of the Board at OLIN Corp.

Action: departure
Role: President, Chief Executive Officer and Chairman of the Board

Exact text from the filing

In connection with the previously announced departure of Mr. Scott Sutton, President, Chief Executive Officer and Chairman of the Board of Olin Corporation (the “Company”), which is expected to occur in the first half of 2024, on October 30, 2023, the Company and Mr. Sutton entered into a transition agreement (the “Transition Agreement”).

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OLIN Corp filing history →

Source: SEC EDGAR

accession 0000074303-23-000179

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