leadership
confidence high
sentiment neutral
materiality 0.65
CEO Mark Brugger and CIO Troy Furbay finalize severance; lump-sum payments total $9M+
DiamondRock Hospitality Co
- Brugger receives $6.885M severance, $418,497 pro-rata bonus, $3.5M in lieu of 2024 equity.
- Furbay receives $2.128M severance, $154,076 pro-rata bonus, $1.025M for 2024 contingent awards.
- Both executives' 2022 restricted stock, LTIP units, and retention awards vest immediately.
- PSU awards from 2022 and 2023 remain eligible; shares issued at target after performance period.
- CEO Brugger subject to 5-year non-compete; Furbay gets up to $10K attorney fee reimbursement.