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
This claim has not yet been checked assertion-by-assertion against its source. It carries a cited source and quote, but the deeper check has not run. When it does, the result appears here whatever it says.
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”