---
schema_version: "secwatch.filing_event.v1"
accession: "0000792987-22-000003"
form_type: "8-K"
ticker: "ASTE"
cik: "0000792987"
company_name: "ASTEC INDUSTRIES INC"
filed_at: "2022-01-05T23:59:59+00:00"
generated_at: "2026-06-27T20:47:13.510482+00:00"
event_type: "other_material"
sentiment: "neutral"
materiality_score: 0.3
calibrated_materiality_score: 0.3
confidence: "high"
source: SEC EDGAR
---

# Astec enters new severance agreements with CEO and four officers, enhancing benefits

## Summary
- CEO Ruffalo gets 2x base salary plus target bonus severance; other officers get 1.5x.
- Severance agreements have 3-year initial term with automatic one-year renewals.
- Non-compete and non-solicitation periods: 24 months for CEO, 18 months for others.
- Equity awards receive pro-rata vesting upon qualifying termination.
- Benefits include lump-sum cash, health coverage (24 months CEO, 18 months others), and outplacement up to $10,000.

## SEC filing metadata
- accession: 0000792987-22-000003
- form_type: 8-K
- ticker: ASTE
- cik: 0000792987
- company_name: ASTEC INDUSTRIES INC
- filed_at: 2022-01-05T23:59:59+00:00
- event_type: other_material
- sentiment: neutral
- materiality_score: 0.3
- calibrated_materiality_score: 0.3
- confidence: high
- sec_items: 5.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/792987/000079298722000003/0000792987-22-000003-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/792987/000079298722000003/a2022-01x05severanceagreem.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000792987-22-000003
- JSON: https://secwatch.observer/filing/0000792987-22-000003.json
- Plain text: https://secwatch.observer/filing/0000792987-22-000003.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.