Blue Bird Corp (BLBD) has released an update to notify the public and investors about its officers.
Blue Bird Corporation’s Compensation Committee has implemented a Change in Control Plan to incentivize and retain employees by offering them a stake in the company’s sale gains. Effective January 25, 2024, this plan provides escalating cash bonuses tied to the company’s stock price at the time of a sale, and includes severance benefits in case of qualifying terminations post-sale. Executive officers, along with other designated participants, are eligible for these benefits, which also encompass automatic vesting of unvested equity awards. Additionally, formal employment agreements have been approved for key executives, consolidating previously disclosed compensation elements and including severance terms and restrictive covenants.
For further insights into BLBD corporate activity, check out TipRanks’ Insiders Trading Activity page.
For a comprehensive understanding of the announcement, you can read the full document here.
