secwatch.observer — SEC 8-K summary
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Issuer:     EASTERN CO (EML)
CIK:        0000031107
Form:       8-K
Filed at:   2024-05-16T23:59:59+00:00
Accession:  0001654954-24-006443
Event type: other_material
Sentiment:  neutral
Materiality: 0.40
Item codes: 5.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Eastern Company adopts new performance-based equity award agreements for executives
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- Compensation Committee adopted new forms of performance-based stock award and non-qualified stock option agreements effective May 15, 2024.
- Stock awards now tied to EBITDA, return on invested capital, and relative TSR multiplier; time-based vesting eliminated.
- Option awards also subject to similar performance criteria under the new form.
- Agreements used for all executive officer grants under the 2020 Stock Incentive Plan.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/31107/000165495424006443/0001654954-24-006443-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/31107/000165495424006443/eml_8k.htm
  HTML page:      https://secwatch.observer/filing/0001654954-24-006443

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