secwatch.observer — SEC 8-K summary
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Issuer:     SCOTTS MIRACLE-GRO CO (SMG)
CIK:        0000825542
Form:       8-K
Filed at:   2022-09-01T23:59:59+00:00
Accession:  0001443984-22-000242
Event type: leadership
Sentiment:  negative
Materiality: 0.75
Item codes: 5.02, 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Scotts Miracle-Gro CFO Miller departs; Evans named interim CFO; FY22 FCF guidance revised to -$275M to -$325M
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- CFO Cory Miller departed effective Aug 29 by mutual agreement, treated as involuntary termination without cause.
- David Evans, board member and former CFO (2006-2013), appointed interim CFO effective Aug 30, 2022.
- Evans to receive $140,625/month salary and $1,075,000 RSU grant vesting monthly through March 2023.
- FY2022 free cash flow guidance revised to negative $275M-$325M from negative $150M; all other guidance reaffirmed.
- Leverage ratio likely >6.0x debt-to-EBITDA at year-end but in compliance with amended credit facility.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/825542/000144398422000242/0001443984-22-000242-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/825542/000144398422000242/smg-20220901.htm
  HTML page:      https://secwatch.observer/filing/0001443984-22-000242

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