secwatch.observer — SEC 8-K summary
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Issuer:     Dorman Products, Inc. (DORM)
CIK:        0000868780
Form:       8-K
Filed at:   2021-12-13T23:59:59+00:00
Accession:  0001564590-21-060184
Event type: other_material
Sentiment:  neutral
Materiality: 0.35
Item codes: 5.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Dorman Products amends CEO employment agreement, adopts executive severance plan
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- CEO Kevin Olsen's new agreement: $810k base salary, no fixed term; severance includes 150% base (non-CIC) or 200% base + 200% target bonus (CIC).
- Company adopts Executive Severance Plan for other named officers: 1x base+target bonus (non-CIC) or 2x (CIC); includes COBRA and outplacement up to $50k.
- Both the CEO agreement and Severance Plan are effective December 26, 2021.
- Severance Plan participants must sign non-disclosure, non-compete, and non-solicitation covenants lasting up to 18 months post-termination.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/868780/000156459021060184/0001564590-21-060184-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/868780/000156459021060184/dorm-8k_20211209.htm
  HTML page:      https://secwatch.observer/filing/0001564590-21-060184

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