secwatch.observer — SEC 8-K summary
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Issuer:     INNOVATE Corp. (VATE)
CIK:        0001006837
Form:       8-K
Filed at:   2023-09-21T23:59:59+00:00
Accession:  0001006837-23-000103
Event type: leadership
Sentiment:  neutral
Materiality: 0.55
Item codes: 5.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1006837/000100683723000103/0001006837-23-000103-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1006837/000100683723000103/hchc-20230921.htm
  HTML page:      https://secwatch.observer/filing/0001006837-23-000103

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