secwatch.observer — SEC 8-K summary
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Issuer:     Firefly Aerospace Inc. (FLY)
CIK:        0001860160
Form:       8-K
Filed at:   2026-03-03T23:59:59+00:00
Accession:  0001193125-26-088567
Event type: other_material
Sentiment:  neutral
Materiality: 0.45
Item codes: 5.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1860160/000119312526088567/0001193125-26-088567-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1860160/000119312526088567/d946352d8k.htm
  HTML page:      https://secwatch.observer/filing/0001193125-26-088567

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