Knife River Implements Severance Plan for Executive Takeover Protections
Company Announcements

Knife River Implements Severance Plan for Executive Takeover Protections

The latest announcement is out from Knife River Corporation (KNF).

Knife River Corporation has implemented a Change in Control Severance Plan, which offers severance benefits to its key executive officers in the event of a company takeover. These benefits include a prorated annual incentive, a multiple of their annual salary and incentive, and continued health coverage costs, provided they adhere to non-competition and confidentiality agreements. Additionally, the company plans to introduce a ‘double trigger’ mechanism for equity award vesting under the new plan, requiring both a change in control and a subsequent qualifying termination for vesting to occur.

Learn more about KNF stock on TipRanks’ Stock Analysis page.

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