CoreCivic adopts executive severance plan and amends bylaws effective December 14, 2023

CoreCivic, Inc.

Board adopted Executive Severance and Change in Control Plan effective Jan 1, 2024, providing severance benefits to CEO, CFO, and executive vice presidents.
Termination without cause or resignation for good reason outside change-in-control period entitles executives to 12 months base salary continuation.
If termination occurs within 180 days after a change in control, executives receive lump sum of 2.99 times base salary plus health continuation payments.
Bylaws amended to remove requirement that stockholders own at least 1% for at least one year to submit binding proposals to alter bylaws.
Severance benefits conditioned on execution of general release and compliance with confidentiality, non-competition, and non-disparagement covenants.

Key facts

Extracted from this filing and checked against the source text.

Governance Changes SEC 8-K Item 5.03/5.05/5.06 confidence 0.9

CoreCivic, Inc.: Amended Article XII, Section 2 to remove the requirement that a stockholder or group own at least 1% of common stock continuously for at least one year to be eligible to submit a binding proposal to adopt, alter, or repeal any provision of the bylaws (effective 2023-12-14).

Change: bylaw amendment
Effective: 2023-12-14

Exact text from the filing

The amendments remove the requirement that a stockholder or a group of stockholders own at least one percent or more of the Company’s common stock continuously for at least one year before the stockholder(s) are eligible to submit a binding proposal to adopt, alter, or repeal any provision of the bylaws.

View on SEC.gov

13 governance changes filed in the last 30 days. Browse all governance changes →

CoreCivic, Inc. filing history →

Source: SEC EDGAR

accession 0001140361-23-057950

view filing index on sec.gov

view primary document

Machine-readable: JSON · Markdown · Plain text

This headline and bullets were generated automatically by deepseek-v4-flash:cloud@v2 from the public filing. Read the source on SEC.gov before relying on any specific claim. Not investment advice. See methodology for how this pipeline works.