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ChargePoint | 8-K: Severance Plans

SEC announcement · Feb 26 16:39

CHPT +9.21%

Summary by Moomoo AI

On February 21, 2024, ChargePoint Holdings, Inc. announced the adoption of two new severance plans by its Compensation and Organizational Development Committee. The plans, namely the Executive Severance Plan and the Senior Vice President and Vice President Severance Plan, are designed to provide severance benefits to certain employees upon termination under specific conditions. The Executive Severance Plan covers key management personnel, while the SVP Severance Plan includes those holding the titles of Senior Vice President or Vice President. The company's Interim CFO will join the SVP Severance Plan after her current agreement ends on February 29, 2024. Benefits under these plans include cash severance payments and COBRA premium payments, with additional equity award vesting provisions during a Change in Control Protection Period. These benefits are contingent upon the execution of a general release of claims and adherence to restrictive covenants.

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This announcement is a separate document:

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Disclaimer: This content is for informational and educational purposes only and does not constitute a recommendation or endorsement of any specific investment or investment strategy. Read more

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