secwatch.observer — SEC 8-K summary
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Issuer:     Kimball Electronics, Inc. (KE)
CIK:        0001606757
Form:       8-K
Filed at:   2021-07-06T23:59:59+00:00
Accession:  0001606757-21-000053
Event type: other_material
Sentiment:  neutral
Materiality: 0.55
Item codes: 5.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Kimball Electronics adopts new performance share formula and executive severance plan
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- Performance shares for FY2022 now calculated using profitability attainment (actual operating income vs plan) replacing prior bonus percentage component.
- New Executive Severance & Change in Control Plan effective July 1, 2021, superseding prior executive employment agreements.
- Severance benefits tiered (Tier I CEO, Tier II, Tier III) include salary continuation, COBRA, bonus payout, and equity vesting.
- Change-in-control protection period lasts 24 months; within one year of effective date, prior more beneficial agreements may apply.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1606757/000160675721000053/0001606757-21-000053-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1606757/000160675721000053/ke-20210630.htm
  HTML page:      https://secwatch.observer/filing/0001606757-21-000053

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