Named executive officer severance and equity vesting
Company: Core Scientific
The claim, verbatim
Named executive officers and certain other executives will receive severance equal to two times the sum of annual base salary and target annual cash incentive bonus plus 24 months of health plan continuation coverage, and all outstanding RSUs and PSUs will fully vest and convert to merger consideration
Source (primary)
Core Scientific 8-K filed 2025-07-07 (SEC EDGAR, sec_filing)
View cached copy (2026-08-31)Live source ↗
Quote: “the officer will be eligible to receive a lump sum cash severance payment equal to (i) two times the sum of (A) the officer's annual base salary and (B) the officer's target annual cash incentive bonus, plus (ii) twenty-four times the monthly cost of continuation coverage under the Company's group health plan pursuant to the Consolidated Omnibus Budget Reconciliation Act...the officer's Company RSU Awards and Company PSU Awards that are outstanding immediately prior to the Effective Time will vest and be converted into the right to receive the Merger Consideration”
How we checked this
Checked on September 17, 2026. The cited source supports part of this claim, but not all of it.
The filing confirms the two-times salary-plus-bonus severance and the vesting of RSUs and PSUs. The health component is a cash payment equal to 24 months of COBRA cost, not actual continued coverage. The benefits also depend on signing a release and staying employed through closing.
Confirmed in the source:
- Letter agreements cover Core Scientific's named executive officers and certain other executives
- Each officer is eligible for a lump sum cash severance payment equal to two times the sum of annual base salary and target annual cash incentive bonus
- The officer's outstanding Company RSU and PSU awards will vest and convert into the right to receive the merger consideration at the Effective Time
We could not confirm this from the cited source:
- That officers receive 24 months of health plan continuation coverage (the filing describes a cash amount equal to 24 times the monthly COBRA cost, not the coverage itself)
That does not mean it is false — only that this source does not establish it, as of the date above. If we find a source that settles it, we will re-check and update this page.
What we did: Read our cached copy of SEC EDGAR (https://www.sec.gov/Archives/edgar/data/1839341/000119312525156266/d945892d8k.htm) in full (34,823 characters, retrieved August 31, 2026) and checked each assertion in the claim against it.
Additional evidence
confirms Core Scientific 8-K filed 2025-07-07
Quote: “the officer will be eligible to receive a lump sum cash severance payment equal to (i) two times the sum of (A) the officer's annual base salary and (B) the officer's target annual cash incentive bonus, plus (ii) twenty-four times the monthly cost of continuation coverage under the Company's group health plan pursuant to the Consolidated Omnibus Budget Reconciliation Act...the officer's Company RSU Awards and Company PSU Awards that are outstanding immediately prior to the Effective Time will vest and be converted into the right to receive the Merger Consideration”