secwatch.observer — SEC 8-K summary
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Issuer:     WESTINGHOUSE AIR BRAKE TECHNOLOGIES CORP (WAB)
CIK:        0000943452
Form:       8-K
Filed at:   2022-12-07T23:59:59+00:00
Accession:  0001140361-22-044669
Event type: other_material
Sentiment:  neutral
Materiality: 0.60
Item codes: 5.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Wabtec enters new severance agreements with CEO Santana, CFO Olin, and three other named executives
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- Replaces prior ECA and severance agreements with CEO Santana ($1.25M minimum base, 160% target bonus).
- Non-CIC severance: CEO gets 2x (salary + target bonus); other NEOs get salary + up to 1.5x salary + target bonus.
- CIC-period severance: CEO gets 3x (salary + target bonus); other NEOs get 2x (salary + target bonus).
- Includes equity vesting, benefits continuation, transition payments ($100K CEO; $50K others), and non-compete covenants.
- Agreements executed December 5, 2022; apply to Santana, Olin, DeNinno, Schweitzer, and Gebhardt.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/943452/000114036122044669/0001140361-22-044669-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/943452/000114036122044669/brhc10045145_8k.htm
  HTML page:      https://secwatch.observer/filing/0001140361-22-044669

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