Gorman-Rupp signs new change-of-control severance agreements for CEO, CFO, general counsel

Bitget2026/10/02 12:40

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Gorman-Rupp entered new change-of-control severance agreements on Oct. 1, 2026 for CEO Scott A. King, CFO Ronald F. Stoops, Brigette A. Burnell.
CEO payout set at 3x base salary plus prior bonus amount, with a prorated annual bonus, if triggered.
Other covered executive officers set for 2x base salary plus prior bonus amount, with a prorated annual bonus.
Benefits also cover 18 months of COBRA premiums, retirement benefit uplift tied to 24 months of credited service, equity vesting acceleration.
Terms apply if a qualifying termination occurs within two years after a change of control, or within six months before one.

Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. The Gorman-Rupp Company published the original content used to generate this news brief via EDGAR, the Electronic Data Gathering, Analysis, and Retrieval system operated by the U.S. Securities and Exchange Commission (Ref. ID: 0001193125-26-411320), on October 02, 2026, and is solely responsible for the information contained therein.

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

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