secwatch.observer — SEC 8-K summary
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Issuer:     Ecovyst Inc. (ECVT)
CIK:        0001708035
Form:       8-K
Filed at:   2022-04-29T23:59:59+00:00
Accession:  0001193125-22-134185
Event type: leadership
Sentiment:  neutral
Materiality: 0.80
Item codes: 5.02, 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Ecovyst CEO Belgacem Chariag departs; Kurt Bitting named CEO; board authorizes $450M share repurchase
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- CEO Belgacem Chariag departed April 25, 2022; receives severance including base salary and target bonus for 24 months.
- Kurt Bitting (President of Ecoservices) appointed CEO effective April 25; Thomas Schneberger appointed President.
- Board authorized $450M share repurchase program over 4 years; repurchases may be made at management's discretion.
- Director Chris Behrens will not stand for re-election; Bryan Brown, Kevin Fogarty, David Bradley appointed to board; Fogarty named non-executive chairman.
- Bitting and Schneberger each receive $500K base salary, 100% target bonus, and PSU awards with $250K grant date fair value.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1708035/000119312522134185/0001193125-22-134185-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1708035/000119312522134185/d266206d8k.htm
  HTML page:      https://secwatch.observer/filing/0001193125-22-134185

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