Darling Ingredients enters new severance agreements with three executives

DARLING INGREDIENTS INC.

New agreements cover Brad Phillips, John F. Sterling, and Rick Elrod, effective June 7, 2023.
Outside a Change of Control: severance = 2x base salary paid over 24 months, plus prorated bonus subject to performance goals.
Within 2 years of CIC: lump sum = 2x (highest base salary + target bonus) plus greater of actual or target prorated bonus.
Additional benefits: COBRA premium reimbursement up to 18 months, outplacement services up to $20,000.
Agreements expire Dec 31, 2023, auto-renew annually unless company gives 6-month non-renewal notice.

This headline and bullets were generated automatically by deepseek-v4-flash:cloud@v2 from the public filing. Read the source on SEC.gov before relying on any specific claim. Not investment advice. See methodology for how this pipeline works.