secwatch.observer — SEC 8-K summary
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Issuer:     Knife River Corp (KNF)
CIK:        0001955520
Form:       8-K
Filed at:   2024-08-21T23:59:59+00:00
Accession:  0001955520-24-000045
Event type: other_material
Sentiment:  neutral
Materiality: 0.55
Item codes: 5.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Knife River adopts CIC severance plan for named executives; switches to double trigger for equity vesting
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- Effective Aug 20, 2024, Compensation Committee adopted CIC Plan covering CEO and four other named officers.
- CEO Brian Gray receives 3x multiple; other NEOs receive 2x multiple on base salary plus target incentive.
- Benefits triggered only if termination occurs within two years post-change-in-control (double trigger).
- Company will move equity awards to double-trigger vesting starting with 2025 annual awards.
- Participants must sign release, one-year non-compete, two-year non-disparagement, perpetual confidentiality.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1955520/000195552024000045/0001955520-24-000045-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1955520/000195552024000045/knf-20240820.htm
  HTML page:      https://secwatch.observer/filing/0001955520-24-000045

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