secwatch.observer — SEC 8-K summary
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Issuer:     EASTERN CO (EML)
CIK:        0000031107
Form:       8-K
Filed at:   2024-11-08T23:59:59+00:00
Accession:  0001214659-24-018628
Event type: leadership
Sentiment:  neutral
Materiality: 0.70
Item codes: 5.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

CEO Mark Hernandez resigns; Ryan Schroeder appointed CEO effective Nov 6, 2024
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- Hernandez received $530,500 base salary severance paid over 12 months, plus $140,787 bonus, 14,800 stock units vest, and $47,206 vacation payout.
- New CEO Ryan Schroeder will receive $475,000 base salary, STIP target 75% of base, LTIP target 75% of base.
- Schroeder previously served as CEO at Plaskolite LLC and President Americas at IMI Norgren.
- Hernandez resigned from Board and all positions; no disagreement cited.
- Separation agreement includes 12-month non-compete and non-solicitation covenants.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/31107/000121465924018628/0001214659-24-018628-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/31107/000121465924018628/y1182418k.htm
  HTML page:      https://secwatch.observer/filing/0001214659-24-018628

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