other
confidence high
sentiment neutral
materiality 0.25
Enpro amends CFO Childress's change-in-control agreement, removes tax gross-up, adds scale-back
Enpro Inc.
- Amendment effective February 27, 2024 between Enpro and EVP/CFO J. Milton Childress II.
- Eliminates federal excise tax gross-up payments; replaces with scale-back provision to maximize after-tax retention.
- Company now has no outstanding agreements with excise tax gross-up provisions for any officer or employee.
- Scale-back reduces payments if excise tax would apply and after-tax amount is higher with reduction.
- Amendment aligns with company's standard form of change-in-control agreements since 2012.