RGC Resources enters CIC agreements with five executives, effective May 1, 2023

RGC RESOURCES INC

5 officers (CEO, CFO, COO, SVP, VP-HR) get 2x avg annualized cash severance if terminated within 90 days prior or 24 months after a Change in Control.
Equity vesting accelerated upon a Change in Control; benefits continuation for up to 24 months post-termination.
Agreements replace prior CIC contracts expiring April 30, 2023; term runs to May 1, 2026 if no CIC occurs.
Board also approved minor technical and administrative amendments to Code of Ethics (Exhibit 14.1).

Key facts

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Governance Changes SEC 8-K Item 5.03/5.05/5.06 confidence 0.9

RGC RESOURCES INC: The Board approved minor technical and administrative revisions to the Company's Code of Ethics (effective 2023-04-24).

Change: code of ethics
Effective: 2023-04-24

Exact text from the filing

At its meeting on April 24, 2023, the Board of Directors of RGC Resources, Inc. approved minor technical and administrative revisions to the Company's Code of Ethics.

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Source: SEC EDGAR

accession 0001437749-23-011384

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