ENERPAC TOOL GROUP CORP (EPAC) Form 8-K — Oct 27, 2026
Enerpac Tool Group amended CEO Paul Sternlieb's offer letter on October 26, 2026 to establish retirement eligibility windows beginning February 2030, with a retirement date no earlier than July 31, 2030, and a 180-day transition notification period. If Sternlieb retires through the defined process, his time-based RSUs vest at retirement, performance-based PSUs continue vesting through their full performance periods without proration, and he earns his full annual bonus for the final fiscal year. The amendment also boosts his Senior Officer Severance Plan benefits to 2x base salary and 2x annual incentive, 24 months of welfare premiums, and up to $50,000 in legal fee reimbursement.
Key figures
- Welfare benefit months
- 24 months (from 18 months)
- Earliest retirement date
- July 31, 2030
- Notification period days
- 180
- Legal fee reimbursement cap
- $50,000 (from $10,000)
- Severance base salary multiple
- 2x (from 1.5x)
- Severance annual incentive multiple
- 2x (from 1.5x)
AI analysis
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