secwatch.observer — SEC 8-K summary
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Issuer:     Blue Bird Corp (BLBD)
CIK:        0001589526
Form:       8-K
Filed at:   2024-01-31T23:59:59+00:00
Accession:  0001589526-24-000007
Event type: other_material
Sentiment:  neutral
Materiality: 0.65
Item codes: 5.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Blue Bird adopts CIC plan with cash bonuses up to 6x target at $40+ per share
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- CIC Plan provides cash multipliers based on per-share price: 2X (<$25) to 6X ($40+). CEO Horlock bonus range $3M-$9M.
- Omnibus Amendment accelerates vesting of all outstanding stock options and RSUs upon a Change in Control.
- Formal employment agreements for CEO Horlock ($1M base, 150% MIP), President Smith, CFO Radulescu, SVP Scartz with severance terms.
- Severance for qualifying termination within 18 months post-CIC: lump sum equal to annualized base salary or greater if existing benefit.
- CIC Plan terminates if no change of control occurs within three years; includes clawback and forfeiture provisions.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1589526/000158952624000007/0001589526-24-000007-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1589526/000158952624000007/blbd-20240125.htm
  HTML page:      https://secwatch.observer/filing/0001589526-24-000007

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer