CEO Employment Agreement Extended for H. Lawrence Culp, Jr.

Details

Lawrence Culp, Jr., the Chairman and Chief Executive Officer, extending his term through December 31, 2028. The agreement includes a base salary of $2,000,000 per year, a target annual bonus opportunity at 200% of base salary, and an annual equity award beginning in 2025 with a grant date fair value of $15,250,000. Additionally, a one-time equity performance award tied to the company's adjusted earnings per share CAGR over four fiscal years was granted.

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