secwatch.observer — SEC 8-K summary
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Issuer:     Bausch & Lomb Corp (BLCO)
CIK:        0001860742
Form:       8-K
Filed at:   2026-10-13T10:09:48+00:00
Accession:  0000950103-26-015460
Event type: leadership
Sentiment:  negative
Materiality: 0.80
Item codes: 5.02, 7.01, 9.01
LLM model:  deepseek-v4.1-flash:cloud@v2

Bausch + Lomb CEO Brent Saunders exits with $75.5M separation; Thomas Appio named interim CEO
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- Brent Saunders departs as CEO and board member effective Oct 12, 2026 by mutual agreement; company says exit is not due to any dispute or disagreement.
- Separation Agreement: $75.5M lump-sum cash plus up to $50,000 in attorneys' fees; two years of group health plan participation; no other severance under his 2023 Employment Agreement.
- All of Saunders' outstanding equity awards (options, RSUs, matching RSUs, PSUs, leveraged PSUs, New Hire Grants) were forfeited and cancelled upon signing.
- Thomas J. Appio, BLCO board chairman since August 2026 and Bausch Health CEO since 2022, becomes interim CEO immediately while remaining CEO of controlling shareholder BHC.
- BLCO and BHC expect to raise FY2026 adjusted EBITDA excluding Acquired IPR&D guidance on preliminary Q3 results; details at the Oct. 28, 2026 Q3 report.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1860742/000095010326015460/0000950103-26-015460-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1860742/000095010326015460/dp254863_8k.htm
  HTML page:      https://secwatch.observer/filing/0000950103-26-015460

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