---
schema_version: "secwatch.filing_event.v1"
accession: "0001437749-23-017583"
form_type: "8-K"
ticker: "CRWS"
cik: "0000025895"
company_name: "CROWN CRAFTS INC"
filed_at: "2023-06-15T23:59:59+00:00"
generated_at: "2026-06-14T00:40:33.441981+00:00"
event_type: "leadership"
sentiment: "neutral"
materiality_score: 0.5
calibrated_materiality_score: 0.5
confidence: "high"
source: SEC EDGAR
---

# Crown Crafts CEO gets amended agreement: $400K base, 2x severance

## Summary
- Minimum base salary set at $400,000, subject to annual Board review.
- Severance equals 2x (base salary + highest bonus in last 3 years) on termination without cause or for good reason.
- Severance paid in lump sum within Change-in-Control period; otherwise 24 monthly installments.
- Time-based equity awards vest immediately on qualifying termination; performance-based vest as per award agreement.
- Non-compete and non-solicit restrictions apply during employment and up to 2 years post-termination.

## SEC filing metadata
- accession: 0001437749-23-017583
- form_type: 8-K
- ticker: CRWS
- cik: 0000025895
- company_name: CROWN CRAFTS INC
- filed_at: 2023-06-15T23:59:59+00:00
- event_type: leadership
- sentiment: neutral
- materiality_score: 0.5
- calibrated_materiality_score: 0.5
- confidence: high
- sec_items: 5.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/25895/000143774923017583/0001437749-23-017583-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/25895/000143774923017583/crws20230615c_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001437749-23-017583
- JSON: https://secwatch.observer/filing/0001437749-23-017583.json
- Plain text: https://secwatch.observer/filing/0001437749-23-017583.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.