other_material
confidence high
sentiment neutral
materiality 0.35
Qorvo increases severance multiples to 1.5x for most NEOs, adopts new Executive Severance Plan
Qorvo, Inc.
- Amended change-in-control agreements: cash severance multiple increased from 1x to 1.5x for most NEOs (CFO Grant Brown's multiple unchanged).
- COBRA coverage period extended from 12 to 18 months under change-in-control agreements.
- Performance-based equity acceleration now measured at greater of target and actual performance (previously at target).
- Adopted Executive Severance Plan for non-CIC terminations: severance equals base salary plus target bonus paid over 12 months, plus pro-rata bonus and 12-month COBRA.
item 5.02