secwatch.observer — SEC 8-K summary
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Issuer:     Triton International Ltd (TRTN-PA)
CIK:        0001660734
Form:       8-K
Filed at:   2022-02-14T23:59:59+00:00
Accession:  0001660734-22-000031
Event type: other_material
Sentiment:  neutral
Materiality: 0.40
Item codes: 5.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Triton adopts executive severance plan; CEO employment agreement terminated
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- New Executive Severance Plan adopted Feb 9, 2022, for NEOs, replacing prior severance agreements.
- CEO Brian Sondey's 2004 employment agreement terminated Feb 11; he continues as CEO.
- Severance multiples: CEO gets 2x compensation plus full target bonus on change-in-control termination.
- Other NEOs: 1.5x compensation on CIC termination; non-CIC multipliers are 1.5x for CEO, 1x for others.
- Plan includes 12-month non-compete and non-solicit covenants and indefinite confidentiality.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1660734/000166073422000031/0001660734-22-000031-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1660734/000166073422000031/trtn-20220209.htm
  HTML page:      https://secwatch.observer/filing/0001660734-22-000031

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