secwatch.observer — SEC 8-K summary
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Issuer:     EVERSOURCE ENERGY (ES)
CIK:        0000072741
Form:       8-K
Filed at:   2023-12-08T23:59:59+00:00
Accession:  0001104659-23-124692
Event type: other_material
Sentiment:  neutral
Materiality: 0.30
Item codes: 5.02
LLM model:  deepseek-v4-flash:cloud@v2

Eversource approves new severance programs for senior executives with CIC and involuntary termination benefits
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- New CIC severance: CEO gets 2.99x base+target; Senior Team gets 2.00x; equity acceleration and healthcare included.
- Involuntary termination not for cause: CEO receives 2.00x base; Senior Team 1.00x; unvested equity forfeited unless eligible for retirement.
- No excise tax gross-ups are provided under the new programs.
- Existing CIC agreements for Nolan, Carmody, Butler remain; CFO Moreira to enter separate agreement.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/72741/000110465923124692/0001104659-23-124692-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/72741/000110465923124692/tm2332504d1_8k.htm
  HTML page:      https://secwatch.observer/filing/0001104659-23-124692

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer