secwatch.observer — SEC 8-K summary
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Issuer:     SIFCO INDUSTRIES INC (SIF)
CIK:        0000090168
Form:       8-K
Filed at:   2022-06-29T23:59:59+00:00
Accession:  0000090168-22-000024
Event type: other_material
Sentiment:  neutral
Materiality: 0.50
Item codes: 5.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

SIFCO CEO Knapper gets new change-in-control agreement with 2x salary severance
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- New change-in-control & severance agreement with CEO Peter Knapper effective June 29, 2022, replacing 2019 agreement.
- On qualifying termination: lump-sum payment equal to 2.0 times annual salary plus 24-month benefit continuation.
- Long-term stock incentive awards vest pro-rata upon a qualifying termination.
- Agreement has no Section 280G gross-up; payments may be reduced to avoid excise taxes.
- Term: CIC-related obligations expire 2 years after change in control; non-CIC severance expires after 3 years.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/90168/000009016822000024/0000090168-22-000024-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/90168/000009016822000024/sif-20220629.htm
  HTML page:      https://secwatch.observer/filing/0000090168-22-000024

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