FormFactor approves new severance agreements for execs and CEO with auto-renewal and expanded trigger period

FORMFACTOR INC

Compensation Committee approved new Change of Control Severance Agreements on July 19, 2022.
Agreements automatically renew annually unless Company gives 90 days notice before renewal date.
Benefits now triggered by involuntary termination within 90 days prior to change of control (previously only 12 months after).
CEO Mike Slessor's agreement: upon involuntary termination or resignation for good reason, receives full annual target bonus instead of pro-rated.
CFO Shai Shahar and other executives entered into the new agreements; prior agreements superseded.

This headline and bullets were generated automatically by deepseek-v4-flash:cloud@v2 from the public filing. Read the source on SEC.gov before relying on any specific claim. Not investment advice. See methodology for how this pipeline works.