secwatch.observer — SEC 8-K summary
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Issuer:     Bausch & Lomb Corp (BLCO)
CIK:        0001860742
Form:       8-K
Filed at:   2022-07-27T23:59:59+00:00
Accession:  0000950103-22-013065
Event type: leadership
Sentiment:  negative
Materiality: 0.65
Item codes: 5.02
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1860742/000095010322013065/0000950103-22-013065-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1860742/000095010322013065/dp177761_8k.htm
  HTML page:      https://secwatch.observer/filing/0000950103-22-013065

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