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The company said Benjamin E. Russ was removed as Executive Vice President, General Counsel and Corporate Secretary effective October 1, 2024, as first reported in its Form 8-K dated October 1, 2024.

8-KDeparture or Appointment of Directors or Certain OfficersFiled Period of report Summary published (UTC)

Key points

AI summary
  1. The company said Benjamin E. Russ was removed as Executive Vice President, General Counsel and Corporate Secretary effective October 1, 2024, as first reported in its Form 8-K dated October 1, 2024.

  2. The company said it entered into a Severance Agreement with Russ on November 1, 2024 (the "Termination Date"), under which Russ's service with the company ended on the same day.

  3. Russ will receive cash severance, equity award vesting and other benefits under the Executive Severance Plan, the company said. The plan terms are as modified by a letter agreement between Russ and the company in January 2024.

  4. The company said payment of cash severance, equity award vesting and other benefits to Russ is subject to satisfaction of the release conditions in the Severance Agreement.

Summary

AI-written

Analysis scope · Filing bodyWe analyzed the filing body and confirmed exhibits. This is not a review of other exhibits, investor presentations or the full earnings call.

General Counsel Russ removed from post on October 1, 2024

The company said Benjamin E. Russ was removed as Executive Vice President, General Counsel and Corporate Secretary effective October 1, 2024, as first reported in its Form 8-K dated October 1, 2024.

Source · Based on the filing body and exhibits

Severance Agreement entered into on November 1, 2024

The company said it entered into a Severance Agreement with Russ on November 1, 2024 (the "Termination Date"), under which Russ's service with the company ended on the same day.

Source · Based on the filing body and exhibits

Payments under Executive Severance Plan

Russ will receive cash severance, equity award vesting and other benefits under the Executive Severance Plan, the company said. The plan terms are as modified by a letter agreement between Russ and the company in January 2024.

Source · Based on the filing body and exhibits

Payment conditions: release conditions in Severance Agreement

The company said payment of cash severance, equity award vesting and other benefits to Russ is subject to satisfaction of the release conditions in the Severance Agreement.

Source · Based on the filing body and exhibits

AI summarized the filing and translated the summary into English; it may differ from the original. For reference only, not investment advice. AI translated the published Korean report into English. Figures are copied as filed, not recalculated.

Original filing

The filing as submitted to SEC EDGAR. You can check the figures and statements of this summary against it.

Source: SEC EDGAR (U.S. Securities and Exchange Commission). Item captions are the SEC's. The summary is for reference only and is not investment advice.