secwatch.observer — SEC 8-K summary
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Issuer:     CoreCivic, Inc. (CXW)
CIK:        0001070985
Form:       8-K
Filed at:   2023-12-15T23:59:59+00:00
Accession:  0001140361-23-057950
Event type: other_material
Sentiment:  neutral
Materiality: 0.40
Item codes: 5.02, 5.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1070985/000114036123057950/0001140361-23-057950-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1070985/000114036123057950/ef20016779_8k.htm
  HTML page:      https://secwatch.observer/filing/0001140361-23-057950

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