Bausch + Lomb CEO Joseph C. Papa departing; retention program approved for other NEOs

Bausch & Lomb Corp

CEO Joseph C. Papa to leave; successor search ongoing.
Talent committee approved enhanced severance for other NEOs (2x salary + target bonus) for qualifying termination within one year after successor appointed.
Founder Awards granted in May 2022 get pro-rata vesting but shares/options remain restricted until spin-off, change of control, strategy change, or 2-year anniversary.
Each eligible NEO granted 35,000 RSUs under retention program, vesting 1/3 per year over 3 years.
Retention program aims to stabilize leadership during CEO transition.

item 5.02

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Departed

Joseph C. Papa

Chief Executive Officer

BLCO · Bausch & Lomb Corp

Filed: July 27, 2022, 7:59 PM ET

the recently announced upcoming departure of our current Chief Executive Officer (Joseph C. Papa)

Key facts

Extracted from this filing and checked against the source text.

Executive change SEC 8-K Item 5.02 confidence 0.95

Joseph C. Papa departed as Chief Executive Officer at Bausch & Lomb Corp.

Action: departing
Role: Chief Executive Officer

Exact text from the filing

the recently announced upcoming departure of our current Chief Executive Officer (Joseph C. Papa)

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Source: SEC EDGAR

accession 0000950103-22-013065

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