President Michael Lukemire departs Scotts; separation agreement provides severance and equity vesting

SCOTTS MIRACLE-GRO CO

Michael C. Lukemire, former President, left October 1, 2023; separation agreement executed October 6, 2023.
Severance includes 24 months base salary, 2x target bonus ($30,000 outplacement), and COBRA offset payments.
Stock options (13,742 and 66,836) vested on termination; restricted stock units (3,700 and 7,527) vest per schedule.
Performance units totalling 50,826 subject to predefined performance criteria, vesting in 2024-2026.
Post-employment restrictive covenants (noncompete, nonsolicit, confidentiality) remain in effect.

item 5.02 item 9.01

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Departed

Michael C. Lukemire

President

SMG · SCOTTS MIRACLE-GRO CO

Effective: 2023-10-01
Filed: October 10, 2023, 7:59 PM ET

On September 27, 2023, The Scotts Miracle-Gro Company (the “Company”) reported that Michael C. Lukemire, the Company’s former President, would be departing the Company on October 1, 2023 (the “Termination Date”).

Key facts

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Executive change SEC 8-K Item 5.02 confidence 0.95

Michael C. Lukemire departed as President at SCOTTS MIRACLE-GRO CO.

Action: departed
Role: President

Exact text from the filing

On September 27, 2023, The Scotts Miracle-Gro Company (the “Company”) reported that Michael C. Lukemire, the Company’s former President, would be departing the Company on October 1, 2023 (the “Termination Date”).

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Source: SEC EDGAR

accession 0001443984-23-000294

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