secwatch.observer — SEC 8-K summary
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Issuer:     SOUTHERN CO (SO)
CIK:        0000092122
Form:       8-K
Filed at:   2022-08-17T23:59:59+00:00
Accession:  0000092122-22-000043
Event type: other_material
Sentiment:  neutral
Materiality: 0.35
Item codes: 5.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Southern Company amends change-in-control plans; updates severance calculation and equity vesting triggers
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- BPP eliminates 'Company Does Not Survive Merger' category; adds liquidation/dissolution and asset sale as triggering events.
- Equity awards granted on/after Aug 15, 2022: if no replacement award in Company Change in Control I, awards vest at greater of target or projected actual performance.
- Severance Plan: cash severance now based on greater of target annual incentive or 3-year average actual payouts; PSUs vest at greater of target or projected actual.
- Definitions of change-in-control events aligned between BPP and Severance Plan.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/92122/000009212222000043/0000092122-22-000043-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/92122/000009212222000043/so-20220815.htm
  HTML page:      https://secwatch.observer/filing/0000092122-22-000043

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