secwatch.observer — SEC 8-K summary
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Issuer:     Kraft Heinz Co (KHC)
CIK:        0001637459
Form:       8-K
Filed at:   2022-12-09T23:59:59+00:00
Accession:  0001637459-22-000204
Event type: other_material
Sentiment:  neutral
Materiality: 0.40
Item codes: 5.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Kraft Heinz amends severance, CIC plans, and equity award treatment for NEOs effective Jan 1, 2023
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- New severance plan (eff. Jan 1, 2023): CEO gets 24 months' salary, senior executives 18 months, plus prorated equity vesting for pre-2023 awards.
- New Change in Control Severance Plan: CEO receives 2x salary plus target bonus, senior execs 1.5x sum; health benefits for 24/18 months respectively.
- Amendments to 2016/2020 omnibus plans: performance awards deemed satisfied at greater of target/actual; accelerated vesting if successor doesn't assume awards.
- Severance conditioned on release of claims and restrictive covenants (non-compete/non-solicit) for period equal to months of salary.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1637459/000163745922000204/0001637459-22-000204-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1637459/000163745922000204/khc-20221206.htm
  HTML page:      https://secwatch.observer/filing/0001637459-22-000204

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