secwatch.observer — SEC 8-K summary
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Issuer:     MIDDLEBY Corp (MIDD)
CIK:        0000769520
Form:       8-K
Filed at:   2026-05-26T20:30:47+00:00
Accession:  0001193125-26-239449
Event type: other_material
Sentiment:  neutral
Materiality: 0.40
Item codes: 5.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Middleby adopts executive severance plan with 3x CEO payout and amended incentive plan
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- CEO (Tier I) eligible for 3x base salary plus target bonus on termination without cause; same multiplier after change in control.
- Named executive officers (Tier II) receive 1x base+bonus without CIC, 2x after CIC; includes CFO, CTOO, CCO, CDO.
- Compensation Committee also adopted amended Value Creation Incentive Plan (VCIP) for cash bonuses based on performance goals.
- Severance requires execution of release and compliance with restrictive covenants; benefits forfeited upon breach.
- Plan effective May 20, 2026; supersedes prior severance arrangements for participants.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/769520/000119312526239449/0001193125-26-239449-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/769520/000119312526239449/d91692d8k.htm
  HTML page:      https://secwatch.observer/filing/0001193125-26-239449

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