secwatch.observer — SEC 8-K summary
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Issuer:     Mativ Holdings, Inc. (MATV)
CIK:        0001000623
Form:       8-K
Filed at:   2024-06-10T23:59:59+00:00
Accession:  0001193125-24-158448
Event type: other_material
Sentiment:  neutral
Materiality: 0.55
Item codes: 5.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1000623/000119312524158448/0001193125-24-158448-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1000623/000119312524158448/d804091d8k.htm
  HTML page:      https://secwatch.observer/filing/0001193125-24-158448

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer