secwatch.observer — SEC 8-K summary
======================================

Issuer:     RGC RESOURCES INC (RGCO)
CIK:        0001069533
Form:       8-K
Filed at:   2023-04-27T23:59:59+00:00
Accession:  0001437749-23-011384
Event type: leadership
Sentiment:  neutral
Materiality: 0.50
Item codes: 1.01, 5.02, 5.05, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

- 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).

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1069533/000143774923011384/0001437749-23-011384-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1069533/000143774923011384/rgco20230424_8k.htm
  HTML page:      https://secwatch.observer/filing/0001437749-23-011384

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