secwatch.observer — SEC 8-K summary
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Issuer:     CHEGG, INC (CHGG)
CIK:        0001364954
Form:       8-K
Filed at:   2024-10-21T23:59:59+00:00
Accession:  0001364954-24-000080
Event type: other
Sentiment:  neutral
Materiality: 0.55
Item codes: 5.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Chegg adopts new severance plan for CEO and CFO with enhanced benefits through Oct 2026
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- CEO Nathan Schultz and CFO David Longo covered under new Chegg Severance Plan, effective Oct 17, 2024.
- In a Change-in-Control termination before Oct 17, 2026: CEO gets 150% salary + 150% bonus, 18 mo COBRA, full equity vest.
- CFO under same scenario: 125% salary + 125% bonus, 15 mo COBRA, full equity vest.
- Non-CIC termination before Oct 17, 2026: CEO and CFO each get 125% salary + 125% bonus, 15 mo COBRA, 12 mo equity vest.
- Benefits reduce after Oct 17, 2026; plan supersedes prior Change-in-Control Severance Plan.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1364954/000136495424000080/0001364954-24-000080-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1364954/000136495424000080/chgg-20241017.htm
  HTML page:      https://secwatch.observer/filing/0001364954-24-000080

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer