secwatch.observer — SEC 8-K summary
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Issuer:     DARLING INGREDIENTS INC. (DAR)
CIK:        0000916540
Form:       8-K
Filed at:   2023-06-12T23:59:59+00:00
Accession:  0000916540-23-000024
Event type: other
Sentiment:  neutral
Materiality: 0.25
Item codes: 5.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Darling Ingredients enters new severance agreements with three executives
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- 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.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/916540/000091654023000024/0000916540-23-000024-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/916540/000091654023000024/dar-20230607.htm
  HTML page:      https://secwatch.observer/filing/0000916540-23-000024

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer