---
schema_version: "secwatch.filing_event.v1"
accession: "0001589526-25-000017"
form_type: "8-K"
ticker: "BLBD"
cik: "0001589526"
company_name: "Blue Bird Corp"
filed_at: "2025-02-03T23:59:59+00:00"
generated_at: "2026-05-27T03:59:13.331832+00:00"
event_type: "leadership"
sentiment: "neutral"
materiality_score: 0.6
calibrated_materiality_score: 0.6
confidence: "high"
source: SEC EDGAR
---

# Blue Bird CFO gets $600k salary; CEO Horlock to retire Feb 28 with ~$7M equity acceleration

## Summary
- CFO Razvan Radulescu's base salary increased to $600,000; LTIP target raised to 150% of salary.
- CEO Phil Horlock to retire effective Feb 28, 2025; all unvested equity awards will immediately vest.
- Value of fully vested RSUs (time- and performance-based) estimated at $7,083,714 using Jan 30 closing price.
- Horlock receives pro-rated MIP bonus at 50% of service; at 100% payout, bonus would be $750,000.
- Horlock remains on board as Class III Director, receiving non-employee director compensation.

## SEC filing metadata
- accession: 0001589526-25-000017
- form_type: 8-K
- ticker: BLBD
- cik: 0001589526
- company_name: Blue Bird Corp
- filed_at: 2025-02-03T23:59:59+00:00
- event_type: leadership
- sentiment: neutral
- materiality_score: 0.6
- calibrated_materiality_score: 0.6
- confidence: high
- sec_items: 5.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1589526/000158952625000017/0001589526-25-000017-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1589526/000158952625000017/blbd-20250128.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001589526-25-000017
- JSON: https://secwatch.observer/filing/0001589526-25-000017.json
- Plain text: https://secwatch.observer/filing/0001589526-25-000017.txt

## Key facts
- Executive change
  Phil Horlock departed as President and Chief Executive Officer at Blue Bird Corp.
  - Action: retire
  - Role: President and Chief Executive Officer
  source text: Mr. Horlock’s employment shall terminate effective February 28, 2025.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1589526/000158952625000017/0001589526-25-000017-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.