secwatch.observer — SEC 8-K summary
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Issuer:     Petco Health & Wellness Company, Inc. (WOOF)
CIK:        0001826470
Form:       8-K
Filed at:   2022-09-30T23:59:59+00:00
Accession:  0001564590-22-033000
Event type: other
Sentiment:  neutral
Materiality: 0.40
Item codes: 5.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Petco adopts executive severance plan covering non-CEO officers
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- Plan effective Sept 29, 2022; Tier 1: Section 16 officers except CEO; Tier 2: other SVP+ employees.
- Severance benefits: lump sum base salary, pro-rated annual bonus (actual performance), COBRA premium payment for 12 months.
- Plan cannot be amended or terminated for 24 months after a Change in Control without participant consent.
- Severance under the Plan supersedes individual agreements if a participation agreement is signed.
- Payment subject to release of claims and continued compliance with confidentiality agreements.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1826470/000156459022033000/0001564590-22-033000-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1826470/000156459022033000/woof-8k_20220929.htm
  HTML page:      https://secwatch.observer/filing/0001564590-22-033000

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