other material
confidence high
sentiment neutral
materiality 0.35
Roku amends severance plan for VPs and above; adds clawback provision
ROKU, INC
- Compensation Committee amended Severance Benefit Plan on Sept 13, 2022.
- Plan covers officers at VP level and above; provides severance on Qualifying Termination.
- For non-CEO, severance multiplier is 9; for CEO, multiplier is 12 months of Monthly TCR or Base Salary.
- Amended plan includes specific reference to Company's ability to recoup incentive compensation (clawback).
- Plan revisions include administrative changes, definitional updates, and conforming updates to laws.