---
schema_version: "secwatch.filing_event.v1"
accession: "0000950170-23-032456"
form_type: "8-K"
ticker: "CECO"
cik: "0000003197"
company_name: "CECO ENVIRONMENTAL CORP"
filed_at: "2023-07-11T23:59:59+00:00"
generated_at: "2026-06-13T10:18:47.950959+00:00"
event_type: "leadership"
sentiment: "neutral"
materiality_score: 0.6
calibrated_materiality_score: 0.6
confidence: "high"
source: SEC EDGAR
---

# CECO CEO Todd Gleason becomes at-will; gets 225K PSUs tied to $22-$35 stock price targets

## Summary
- Existing employment agreement not renewed; CEO becomes at-will effective July 5, 2023.
- One-time grant of 225,000 performance-based RSUs; vests in 4 years only if stock hits $22 (200% at $35) for 20 consecutive trading days.
- Housing allowance of $5,000/month for six months (Aug 2023 – Feb 2024).
- CEO enters severance plan at Tier 0 level (2x base salary plus target bonus on CIC qualifying termination).
- Severance plan amended to add Good Reason termination rights and enhanced benefits across all tiers.

## SEC filing metadata
- accession: 0000950170-23-032456
- form_type: 8-K
- ticker: CECO
- cik: 0000003197
- company_name: CECO ENVIRONMENTAL CORP
- filed_at: 2023-07-11T23:59:59+00:00
- event_type: leadership
- sentiment: neutral
- materiality_score: 0.6
- calibrated_materiality_score: 0.6
- confidence: high
- EDGAR index: https://www.sec.gov/Archives/edgar/data/3197/000095017023032456/0000950170-23-032456-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/3197/000095017023032456/ceco-20230705.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000950170-23-032456
- JSON: https://secwatch.observer/filing/0000950170-23-032456.json
- Plain text: https://secwatch.observer/filing/0000950170-23-032456.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.