secwatch.observer — SEC 8-K summary
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Issuer:     Vestis Corp (VSTS)
CIK:        0001967649
Form:       8-K
Filed at:   2025-05-09T23:59:59+00:00
Accession:  0001967649-25-000033
Event type: leadership
Sentiment:  neutral
Materiality: 0.65
Item codes: 5.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Vestis appoints former UPS COO Jim Barber as President and CEO effective June 2, 2025
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- Jim Barber, 64, former UPS COO (2018-2020) with 35-year UPS career, named President and CEO effective June 2, 2025; will also join the Board.
- Base salary set at $950,000; target bonus of 125% of base salary; annual equity target of $4 million under LTIP.
- Initial sign-on RSU award of $3 million, cliff vesting on third anniversary.
- Severance: on non-cause termination, 18 months of base salary plus target bonus paid ratably; on qualifying change-in-control termination, 2x base plus target in lump sum.
- Employment agreement includes perpetual non-disclosure, 18-month non-compete and non-solicitation covenants.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1967649/000196764925000033/0001967649-25-000033-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1967649/000196764925000033/vsts-20250505.htm
  HTML page:      https://secwatch.observer/filing/0001967649-25-000033

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