secwatch.observer — SEC 8-K summary
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Issuer:     MATTEL INC /DE/ (MAT)
CIK:        0000063276
Form:       8-K
Filed at:   2023-03-24T23:59:59+00:00
Accession:  0001193125-23-079212
Event type: other_material
Sentiment:  neutral
Materiality: 0.50
Item codes: 5.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Mattel adopts amended executive severance plan with 2.0x/1.5x/1.0x multiples for top officers
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- Plan effective March 22, 2023; covers CEO, COO, CCO, CFO, and CLO.
- CEO: 2.0x severance multiple (24 months); CFO/COO/CCO: 1.5x (18 months); CLO: 1.0x (12 months).
- Non-change-of-control severance includes prorata bonus, equity vesting, health coverage, up to $50K outplacement.
- Change-of-control termination within 2 years: 2.0x lump sum, full equity acceleration, 2-year COBRA.
- CEO, CFO, COO get full acceleration and up to 3-year post-termination option exercise period.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/63276/000119312523079212/0001193125-23-079212-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/63276/000119312523079212/d466726d8k.htm
  HTML page:      https://secwatch.observer/filing/0001193125-23-079212

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