Wabtec CFO Patrick Dugan to depart Q4 2021; receives $2.52M in transition payments

WESTINGHOUSE AIR BRAKE TECHNOLOGIES CORP

CFO Patrick A. Dugan to leave in Q4 2021; transition agreement signed Sept 9, 2021.
Cash payment of $2,520,000 (two times annual salary plus targeted 2021 bonus).
Accelerated vesting of outstanding stock options and restricted stock; pro-rated performance units.
Continued healthcare coverage for 24 months; includes release, non-compete, and non-solicitation provisions.

item 5.02

Executive movements

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Departed

Patrick A. Dugan

Executive Vice President Finance and Chief Financial Officer

WAB · WESTINGHOUSE AIR BRAKE TECHNOLOGIES CORP

Filed: September 14, 2021, 7:59 PM ET

As previously announced by Westinghouse Air Brake Technologies Corporation (the “Company”) on August 11, 2021, Patrick A. Dugan, Executive Vice President Finance and Chief Financial Officer, will leave the Company to pursue other opportunities, and is expected to do so in the fourth quarter of 2021.

Key facts

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Executive change SEC 8-K Item 5.02 confidence 0.95

Patrick A. Dugan departed as Executive Vice President Finance and Chief Financial Officer at WESTINGHOUSE AIR BRAKE TECHNOLOGIES CORP.

Action: will leave
Role: Executive Vice President Finance and Chief Financial Officer

Exact text from the filing

As previously announced by Westinghouse Air Brake Technologies Corporation (the “Company”) on August 11, 2021, Patrick A. Dugan, Executive Vice President Finance and Chief Financial Officer, will leave the Company to pursue other opportunities, and is expected to do so in the fourth quarter of 2021.

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Source: SEC EDGAR

accession 0001140361-21-031241

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