secwatch.observer — SEC 8-K summary
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Issuer:     Bausch & Lomb Corp (BLCO)
CIK:        0001860742
Form:       8-K
Filed at:   2022-12-22T23:59:59+00:00
Accession:  0001860742-22-000030
Event type: leadership
Sentiment:  neutral
Materiality: 0.70
Item codes: 5.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Bausch + Lomb CEO Joseph Papa to remain until March–June 2023; severance amended
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- CEO Joseph C. Papa to serve through at least March 4, 2023, and no later than June 30, 2023, under amended separation agreement.
- Board continues search for a new CEO; Papa’s departure date tied to successor appointment or Board discretion.
- Papa receives $1.2M prorated target bonus (50% of target) on termination, replacing performance-based bonus.
- Accelerated vesting of 315,592 RSUs (shares remain restricted until distribution, change of control, or 2-year anniversary) and 1,248,496 stock options.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1860742/000186074222000030/0001860742-22-000030-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1860742/000186074222000030/blco-20221222.htm
  HTML page:      https://secwatch.observer/filing/0001860742-22-000030

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