secwatch.observer — SEC 8-K summary
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Issuer:     Lamb Weston Holdings, Inc. (LW)
CIK:        0001679273
Form:       8-K
Filed at:   2024-12-23T23:59:59+00:00
Accession:  0001679273-24-000090
Event type: leadership
Sentiment:  neutral
Materiality: 0.85
Item codes: 5.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Lamb Weston appoints COO Michael J. Smith as CEO; Werner steps down effective Jan 3, 2025
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- Smith, currently COO, becomes President & CEO and Board member on Jan 3, 2025; succeeds Thomas P. Werner.
- Smith's annual base salary: $1M, target bonus 150% of base, LTIP target $5.25M starting FY2026.
- Werner will serve as Special Advisor through Aug 31, 2025, with base salary of $550K and prorated bonus.
- Werner's outstanding equity awards will fully vest under Normal Retirement; non-compete extended to 18 months.
- Transition and Separation Agreement signed Dec 23, 2024, includes release of claims and restrictive covenants.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1679273/000167927324000090/0001679273-24-000090-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1679273/000167927324000090/lw-20241218.htm
  HTML page:      https://secwatch.observer/filing/0001679273-24-000090

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