secwatch.observer — SEC 8-K summary
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Issuer:     AVIAT NETWORKS, INC. (AVNW)
CIK:        0001377789
Form:       8-K
Filed at:   2024-04-18T23:59:59+00:00
Accession:  0001377789-24-000013
Event type: leadership
Sentiment:  neutral
Materiality: 0.35
Item codes: 5.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Aviat Networks enters new employment agreements with CEO, CFO, GC, and VP Marketing
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- CEO Peter Smith: base salary $650k, target annual bonus 142% ($923k min for 2024), LTIP target 354%.
- CFO David Gray: base $364,208, target bonus 50% ($182,104 min 2024); GC Erin Boase and VP Gary Croke each $318k/$260k base, 40% bonus target.
- Severance on qualifying termination: 1.5x (CEO) or 1x (others) of salary plus prorated target bonus; COBRA up to 12 months.
- Change-in-control termination: same multiples plus full equity vesting (performance at target) and COBRA up to 18 months.
- Agreements include 12-month non-compete and perpetual confidentiality; initial term one year with auto-renewal.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1377789/000137778924000013/0001377789-24-000013-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1377789/000137778924000013/avnw-20240415.htm
  HTML page:      https://secwatch.observer/filing/0001377789-24-000013

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