What changed
Christopher J. Hagedorn, former Executive Vice President & Chief Strategy Officer, departed September 30, 2026 under a Separation Agreement dated October 13, 2026. He receives severance equal to 24 months of base salary, a bonus amount equal to 2.0 times his target bonus opportunity paid in two installments, 24 months of COBRA benefits offset, and up to 12 months of outplacement services. His 57,033 stock options granted November 16, 2023 vested in full and expire 180 days after termination, while 56,033 unvested options granted in 2024, 2025 and 2026 forfeited. He remains eligible for a fiscal 2026 Executive Incentive Plan payout in November 2026.
Why it matters
Christopher J. Hagedorn, former Executive Vice President & Chief Strategy Officer, departed September 30, 2026 under a Separation Agreement dated October 13, 2026. He receives severance equal to 24 mo