Rayonier Advanced Materials finalizes separation agreement with retiring CEO Paul Boynton

RAYONIER ADVANCED MATERIALS INC.

CEO Paul Boynton retired as President and CEO effective Dec 31, 2021, remains as Vice Chair until May 2022.
Separation agreement includes monthly cash payments of $86,250 through Dec 31, 2022.
Boynton receives restricted stock units valued at $949,200 under 2022 long-term incentive program.
2022 cash incentive target of $1,242,000 (120% of base) based on EBITDA, working capital, strategic metrics.
Company will pay COBRA premiums and continue life insurance coverage for consulting period.

item 5.02 item 9.01

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Departed

Paul Boynton

President and Chief Executive Officer

RYAM · RAYONIER ADVANCED MATERIALS INC.

Effective: 2021-12-31
Filed: January 20, 2022, 6:59 PM ET

Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers

Key facts

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Executive change SEC 8-K Item 5.02 confidence 0.7

Paul Boynton retired as President and Chief Executive Officer at RAYONIER ADVANCED MATERIALS INC..

Action: retired
Role: President and Chief Executive Officer

Exact text from the filing

Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers

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Source: SEC EDGAR

accession 0001597672-22-000004

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