Power Solutions International finalizes separation agreement with ex-CEO Lance Arnett; $425K cash severance

POWER SOLUTIONS INTERNATIONAL, INC.

Cash severance of $425,000 paid in 12 monthly installments of $35,416.67 starting June 30, 2022.
Additional LTI payment of $17,708.33 and pro-rata KPI bonus; COBRA premiums paid for 12 months.
Arnett to assist transition at $250/hour for 12 months; non-compete and non-disparagement remain in effect.
Vested SARs (16,666+16,666+20,000) exercisable for 30 days; unvested SARs forfeited.
Mutual release and confidentiality provisions included; indemnification agreement remains in force.

item 5.02 item 9.01

Executive movements

Machine-extracted from this filing. Every card cites the SEC source. See all recent executive movements.

Departed

Lance Arnett

Chief Executive Officer

PSIX · POWER SOLUTIONS INTERNATIONAL, INC.

Filed: June 29, 2022, 7:59 PM ET

Pursuant to the Separation Agreement and of the resignation of Mr. Arnett, he is entitled to receive (a) cash severance payments of $425,000, payable in twelve monthly installments of $35,416.67 payable on the last day of each month beginning on June 30, 2022

Key facts

Extracted from this filing and checked against the source text.

Executive change SEC 8-K Item 5.02 confidence 0.95

Lance Arnett resigned as Chief Executive Officer at POWER SOLUTIONS INTERNATIONAL, INC..

Action: resigned
Role: Chief Executive Officer

Exact text from the filing

Pursuant to the Separation Agreement and of the resignation of Mr. Arnett, he is entitled to receive (a) cash severance payments of $425,000, payable in twelve monthly installments of $35,416.67 payable on the last day of each month beginning on June 30, 2022

View on SEC.gov

POWER SOLUTIONS INTERNATIONAL, INC. filing history →

Source: SEC EDGAR

accession 0001193125-22-185050

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.