inTEST finalizes separation agreement with ex-Division President Scott Nolen; $95k payout

INTEST CORP

Severance of $72,500 (3 months salary), $22,308 PTO payout, and $4,583 COBRA payment, totaling $95,266.
Performance shares vest at least 5,280 shares (88% of 6,000 target) based on 2023 results.
2023 Short Term Incentive Bonus of at least $65,250 to be paid in 2024.
Executive agrees to non-disparagement, cooperation, and return of company property.

item 5.02 item 9.01

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Departed

Scott Nolen

Other

INTT · INTEST CORP

Effective: 2024-01-09
Filed: February 7, 2024, 6:59 PM ET

on January 9, 2024, inTEST Corporation (the “Company”) and Scott Nolen mutually agreed that Mr. Nolen’s employment with the Company would end effective immediately.

Key facts

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Executive change SEC 8-K Item 5.02 confidence 0.8

Scott Nolen departed as other at INTEST CORP.

Action: departed

Exact text from the filing

on January 9, 2024, inTEST Corporation (the “Company”) and Scott Nolen mutually agreed that Mr. Nolen’s employment with the Company would end effective immediately.

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INTEST CORP filing history →

Source: SEC EDGAR

accession 0001437749-24-003390

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