Firefly Aerospace adopts Executive Severance Plan with defined benefits for CEO, officers

Firefly Aerospace Inc.

Plan adopted Feb 25, 2026; covers CEO (Tier 0), Section 16 officers (Tier 1), and VP-level leaders (Tier 2).
Qualifying termination without cause: CEO gets 1x base salary; Tiers 1-2 get 6-12 months base; plus bonus, COBRA, equity acceleration.
Within 24-month Change-in-Control window: CEO gets 2x base + 2x target bonus; equity fully vests immediately.
Death/retirement/disability severance: 1x base salary plus prorated bonus and equity treatment.
No excise tax gross-up; Section 280G cutback optional to maximize net after-tax position.

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