Lancaster Colony finalizes severance for departing subsidiary VP Stealey

MARZETTI CO

Carl Stealey's employment ends by March 31, 2025; transition period through that date.
Salary continuation from final date through June 30, 2026; COBRA subsidy until same date.
FY2025 and FY2026 annual bonuses paid at 70% of base salary target.
Partial vesting of RSUs (2/3 of 2022 grant, 1/3 of 2023 grant) on final date.
12-month non-solicitation and non-disparagement covenants apply.

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