secwatch.observer — SEC 8-K summary
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Issuer:     Fortrea Holdings Inc. (FTRE)
CIK:        0001965040
Form:       8-K
Filed at:   2023-08-21T23:59:59+00:00
Accession:  0001965040-23-000032
Event type: leadership
Sentiment:  neutral
Materiality: 0.65
Item codes: 5.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Fortrea grants CEO Thomas Pike $20M equity award; mix changed to 50/50 RSUs and options
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- Grant date fair value of $20M: 377,074 RSUs plus options on 799,272 shares at $26.52.
- Board changed award mix from 30% RSUs/70% options (per employment agreement) to 50% RSUs/50% options.
- Awards vest in three equal installments over 3 years (first anniversary, second anniversary, Jan 9, 2026).
- Initial Equity Grant satisfies Section 4(b)(iii) of the CEO's employment agreement with Labcorp assigned at spinoff.
- RSU award agreement (Ex-10.1) and option agreement (Ex-10.2) filed as exhibits.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1965040/000196504023000032/0001965040-23-000032-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1965040/000196504023000032/ftre-20230817.htm
  HTML page:      https://secwatch.observer/filing/0001965040-23-000032

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