secwatch.observer — SEC 8-K summary
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Issuer:     Adeia Inc. (ADEA)
CIK:        0001803696
Form:       8-K
Filed at:   2023-02-15T23:59:59+00:00
Accession:  0000950170-23-002897
Event type: leadership
Sentiment:  neutral
Materiality: 0.25
Item codes: 5.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Adeia enters new change-in-control severance agreements with CEO and four other officers
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- CEO Paul Davis receives 200% of base salary plus target bonus upon termination within 3 months before or 12 months after a change in control.
- CFO Keith Jones, CLO Kevin Tanji, and two other NEOs receive 100% of base salary plus target bonus under similar conditions.
- Agreements have a 3-year initial term with automatic one-year renewals and extend 12 months after a change in control.
- Severance payments require execution of a general release and continued compliance with confidentiality covenants.
- Equity awards accelerate vesting upon a qualifying termination within the change-in-control window, with performance awards at target.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1803696/000095017023002897/0000950170-23-002897-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1803696/000095017023002897/adea-20230209.htm
  HTML page:      https://secwatch.observer/filing/0000950170-23-002897

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer