secwatch.observer — SEC 8-K summary
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Issuer:     SEALED AIR CORP/DE (—)
CIK:        0001012100
Form:       8-K
Filed at:   2024-06-04T23:59:59+00:00
Accession:  0001140361-24-028719
Event type: leadership
Sentiment:  neutral
Materiality: 0.55
Item codes: 5.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Sealed Air President Americas Grasso steps down; CEO severance plan amended
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- Tobias Grasso, Jr., President Americas, steps down as executive officer June 4, 2024; advisory role through July 1, 2024.
- No change to Grasso's severance benefits under the existing Executive Severance Plan.
- CEO severance amended: 2x base+bonus for non-change-in-control termination, 2.5x for change-in-control.
- Amended plan provides pro-rata bonus and full equity vesting for CEO upon change-in-control termination.
- Severance provisions for non-CEO participants remain unchanged.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1012100/000114036124028719/0001140361-24-028719-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1012100/000114036124028719/ef20030540_8k.htm
  HTML page:      https://secwatch.observer/filing/0001140361-24-028719

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