secwatch.observer — SEC 8-K summary
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Issuer:     Magnera Corp (MAGN)
CIK:        0000041719
Form:       8-K/A
Filed at:   2024-02-12T23:59:59+00:00
Accession:  0001104659-24-014952
Event type: m_and_a
Sentiment:  neutral
Materiality: 0.85
Item codes: 1.01, 5.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Glatfelter signs definitive agreement to acquire Berry's nonwovens & hygiene films business; new CEO named
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- Glatfelter will acquire Berry's HHNF business via Reverse Morris Trust; Berry to distribute Spinco shares to its stockholders.
- Curtis L. Begle, currently president of Berry's HHNF division, will become Glatfelter CEO upon closing; Thomas Fahnemann to resign.
- Glatfelter approved a $6.0M aggregate cash retention program for key employees, paid in two installments post-closing.
- Begle will receive $1M base salary, 100% bonus target, $4.6M annual LTI grant, sign-on equity, and double-trigger vesting.
- Transaction subject to regulatory approvals, Glatfelter shareholder approval, and other customary conditions.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/41719/000110465924014952/0001104659-24-014952-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/41719/000110465924014952/tm245924d1_8ka.htm
  HTML page:      https://secwatch.observer/filing/0001104659-24-014952

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