secwatch.observer — SEC 8-K summary
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Issuer:     GORMAN RUPP CO (GRC)
CIK:        0000042682
Form:       8-K
Filed at:   2026-10-02T12:39:28+00:00
Accession:  0001193125-26-411320
Event type: leadership
Sentiment:  neutral
Materiality: 0.25
Item codes: 5.02, 9.01
LLM model:  deepseek-v4.1-flash:cloud@v2

Gorman-Rupp signs change-of-control severance pacts with CEO King, GC Burnell, CFO Stoops
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- CEO Scott A. King gets 3x annual base salary plus Prior Bonus Amount plus prorated annual bonus; other officers, including CFO Ronald F. Stoops and GC Brigette A. Burnell, get 2x.
- Benefits trigger on termination without Cause or for Good Reason within two years after a Change of Control, or within six months prior and primarily in anticipation of one.
- Executives also receive a lump sum of 18 months of COBRA medical premiums and a payment for 24 additional months of credited retirement-plan service.
- Equity: full vesting of time-based awards; performance awards pay at actual or target performance; a 280G 'best pay' cutback applies with no tax gross-up; benefits require a signed release.
- Agreements dated October 1, 2026 run one year with automatic one-year evergreen renewals absent notice; filed as Exhibits 10.1 and 10.2.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/42682/000119312526411320/0001193125-26-411320-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/42682/000119312526411320/grc-20261001.htm
  HTML page:      https://secwatch.observer/filing/0001193125-26-411320

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