secwatch.observer — SEC 8-K summary
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Issuer:     METHODE ELECTRONICS INC (MEI)
CIK:        0000065270
Form:       8-K
Filed at:   2022-12-19T23:59:59+00:00
Accession:  0000950170-22-026750
Event type: other_material
Sentiment:  neutral
Materiality: 0.35
Item codes: 5.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Methode amends change-in-control agreements; CEO gets 3x target bonus, NEOs get 2x
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- 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.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/65270/000095017022026750/0000950170-22-026750-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/65270/000095017022026750/mei-20221214.htm
  HTML page:      https://secwatch.observer/filing/0000950170-22-026750

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