secwatch.observer — SEC 8-K summary
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Issuer:     EASTERN CO (EML)
CIK:        0000031107
Form:       8-K
Filed at:   2023-11-15T23:59:59+00:00
Accession:  0001654954-23-014418
Event type: other_material
Sentiment:  neutral
Materiality: 0.30
Item codes: 5.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Eastern Company amends CEO employment agreement to enhance severance benefits
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- Amended agreement with CEO Mark Hernandez adds payment of estimated annual target bonus on pro-rated basis upon termination without Cause or for Good Reason.
- Also provides full vesting of all equity and equity-based awards upon such termination; prior agreement lacked these severance enhancements.
- Other terms unchanged: base salary $515,000, target bonus 100% of base, eligibility for equity grants; agreement effective November 14, 2023.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/31107/000165495423014418/0001654954-23-014418-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/31107/000165495423014418/eml_8k.htm
  HTML page:      https://secwatch.observer/filing/0001654954-23-014418

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