other material
confidence high
sentiment neutral
materiality 0.55
Solaris adopts change-in-control severance plan for executives effective March 1, 2023
Solaris Energy Infrastructure, Inc.
- Plan covers CEO, named executive officers, and other key employees designated by Compensation Committee.
- Severance: lump sum of 2.5x or 3.0x (by tier) of base salary plus target bonus, plus COBRA subsidy up to 24 months.
- Full vesting of unvested equity awards, including PSUs at greater of target or actual performance.
- Qualifying termination requires involuntary without cause or resignation for good reason during 90-day pre- to 12-month post-change-in-control period.
- Benefits conditioned on execution of a release of claims; plan replaces prior severance arrangements.