---
schema_version: "secwatch.filing_event.v1"
accession: "0001006837-23-000103"
form_type: "8-K"
ticker: "VATE"
cik: "0001006837"
company_name: "INNOVATE Corp."
filed_at: "2023-09-21T23:59:59+00:00"
generated_at: "2026-06-10T10:01:52.089929+00:00"
event_type: "leadership"
sentiment: "neutral"
materiality_score: 0.55
calibrated_materiality_score: 0.55
confidence: "high"
source: SEC EDGAR
---

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

## Summary
- 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.

## SEC filing metadata
- accession: 0001006837-23-000103
- form_type: 8-K
- ticker: VATE
- cik: 0001006837
- company_name: INNOVATE Corp.
- filed_at: 2023-09-21T23:59:59+00:00
- event_type: leadership
- sentiment: neutral
- materiality_score: 0.55
- calibrated_materiality_score: 0.55
- confidence: high
- sec_items: 5.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1006837/000100683723000103/0001006837-23-000103-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1006837/000100683723000103/hchc-20230921.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001006837-23-000103
- JSON: https://secwatch.observer/filing/0001006837-23-000103.json
- Plain text: https://secwatch.observer/filing/0001006837-23-000103.txt

## Key facts
- Executive change
  Suzi Herbst resigned as Chief Operating Officer at INNOVATE Corp..
  - Action: resigned
  - Role: Chief Operating Officer
  source text: 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.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1006837/000100683723000103/0001006837-23-000103-index.htm

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