TechnipFMC Enacts New Executive Severance Agreements
Company Announcements

TechnipFMC Enacts New Executive Severance Agreements

TechnipFMC PLC (FTI) has released an update to notify the public and investors about its officers.

On January 29, 2024, TechnipFMC plc’s Compensation Committee renewed and entered into Executive Severance Agreements with key executive officers, including the CEO and EVP, providing for “double trigger” severance benefits upon termination without cause or constructive termination post-change in control. The benefits include multiples of base salary and bonuses, accrued salary and paid time off, a pro-rated target cash bonus, and extended health care and insurance coverages, with specific terms varying among executives. Severance from these agreements is adjusted against any other eligible severance payments and requires a release of claims to be signed by the executive.

For further insights into FTI corporate activity, check out TipRanks’ Insiders Trading Activity page.

Related Articles
TheFlyTechnipFMC, Prysmian to collaborate on development of floating offshore wind
TheFlyTrade Desk downgraded, First Solar upgraded: Wall Street’s top analyst calls
TheFlyTechnipFMC upgraded to Buy from Hold at HSBC
Looking for investment ideas? Subscribe to our Smart Investor newsletter for weekly expert stock picks!
Get real-time notifications on news & analysis, curated for your stock watchlist. Download the TipRanks app today! Get the App