Mativ Holdings adopts severance plan with enhanced change-of-control benefits for top executives

Mativ Holdings, Inc.

Plan covers CEO Julie Schertell, CFO Greg Weitzel, and two other named execs; effective July 6, 2024.
Non-CIC severance: CEO gets 2x (salary+bonus), others 1.5x; COBRA up to 24 months for CEO, 18 for others.
CIC severance: CEO gets 3x (salary+bonus), others 2x; COBRA up to 36 months CEO, 24 others; full equity vesting.
Time-based awards vest pro-rata on non-CIC; fully vest on CIC. Performance awards vest at target on CIC.
Plan requires signing release and restrictive covenants; replaces all prior severance arrangements.

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