secwatch.observer — SEC 8-K summary
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Issuer:     Blue Bird Corp (BLBD)
CIK:        0001589526
Form:       8-K
Filed at:   2025-02-03T23:59:59+00:00
Accession:  0001589526-25-000017
Event type: leadership
Sentiment:  neutral
Materiality: 0.60
Item codes: 5.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1589526/000158952625000017/0001589526-25-000017-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1589526/000158952625000017/blbd-20250128.htm
  HTML page:      https://secwatch.observer/filing/0001589526-25-000017

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