other
confidence high
sentiment neutral
materiality 0.65
Flowers Foods amends Change of Control Plan for NEOs; adds prorated bonus, revised COBRA payment
FLOWERS FOODS INC
- Amended Plan adds prorated target bonus for year of termination as severance payment.
- Revised COBRA lump sum equals monthly premium times greater of 18 or severance multiple × 12.
- Change of Control and Good Reason definitions aligned with 2014 Omnibus Equity Plan.
- Restrictive covenants moved to signed separation agreement condition for severance benefits.