INNOVATE Corp. COO Suzi Herbst to depart by mutual agreement on Oct 20, 2023

INNOVATE Corp.

Mutual departure of Suzi Herbst as COO and Corporate Secretary effective October 20, 2023; no disagreement with company.
Severance includes 12 months base salary paid bi-weekly, 12 months COBRA premiums, and full vesting of unvested equity awards on Nov 10, 2023.
2023 annual bonus of $602,055 to be paid at same time as other named executive officers; plus $10,000 outplacement benefit.
Employment agreement non-compete modified to cover broadcasting, steel structures, and Pansend Life Sciences competitors within US.
Separation agreement includes standard release of claims; confidential terms; cooperation clause through first anniversary.

item 5.02 item 9.01

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Departed

Suzi Herbst

Chief Operating Officer

VATE · INNOVATE Corp.

Effective: 2023-10-20
Filed: September 21, 2023, 7:59 PM ET

On September 21, 2023, INNOVATE Corp. (the “Company”) and Ms. Suzi Herbst, the Company’s Chief Operating Officer, determined by mutual agreement that Ms. Herbst’s employment with the Company would cease on or around October 20, 2023.

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Executive change SEC 8-K Item 5.02 confidence 0.95

Suzi Herbst resigned as Chief Operating Officer at INNOVATE Corp..

Action: resigned
Role: Chief Operating Officer

Exact text from the filing

On September 21, 2023, INNOVATE Corp. (the “Company”) and Ms. Suzi Herbst, the Company’s Chief Operating Officer, determined by mutual agreement that Ms. Herbst’s employment with the Company would cease on or around October 20, 2023.

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INNOVATE Corp. filing history →

Source: SEC EDGAR

accession 0001006837-23-000103

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