other material
confidence high
sentiment neutral
materiality 0.35
Methode amends change-in-control agreements; CEO gets 3x target bonus, NEOs get 2x
METHODE ELECTRONICS INC
- CEO Duda's termination payout now includes lump sum equal to 3x target annual bonus; previously lesser of target or prior year actual.
- CFO Tsoumas, COO Khoury, and CAO Barry receive 2x target bonus in change-in-control termination; prior formula used lesser amount.
- Amendments effective Dec 14, 2022; approved by Compensation Committee after annual review with independent consultant.
- No other provisions of change-in-control agreements were modified; form amendments filed as Exhibits 10.1 and 10.2.