secwatch.observer — SEC 8-K summary
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Issuer:     SCOTTS MIRACLE-GRO CO (SMG)
CIK:        0000825542
Form:       8-K
Filed at:   2023-10-10T23:59:59+00:00
Accession:  0001443984-23-000294
Event type: leadership
Sentiment:  neutral
Materiality: 0.65
Item codes: 5.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/825542/000144398423000294/0001443984-23-000294-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/825542/000144398423000294/smg-20231010.htm
  HTML page:      https://secwatch.observer/filing/0001443984-23-000294

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