Corporate GovernanceJun 24, 2026, 04:38 PM
RBC Bearings Amends CEO, COO Employment Agreements; Increases Salaries
AI Summary
RBC Bearings Incorporated has amended and restated the employment agreement for Dr. Michael J. Hartnett, President, CEO, and Chairman, and amended the employment agreement for Daniel A. Bergeron, Vice President and COO. Dr. Hartnett's new agreement includes a 3.0% base salary increase to $1,591,350 annually and revised equity award sizing and ROIC calculation definitions. Mr. Bergeron also received a 3.0% base salary increase to $713,482 annually, along with similar modifications to his equity award sizing and ROIC definitions.
Key Highlights
- Dr. Michael J. Hartnett's employment agreement amended and restated.
- Dr. Hartnett's base salary increased 3.0% to $1,591,350 annually, retroactive to June 1, 2026.
- Dr. Hartnett's equity awards sizing now based on 6-month average stock price before 10-K filing.
- Daniel A. Bergeron's employment agreement amended.
- Mr. Bergeron's base salary increased 3.0% to $713,482 annually, effective June 1, 2026.
- Mr. Bergeron's equity awards sizing also based on 6-month average stock price before 10-K filing.
- ROIC calculation definitions modified for both executives to align with historical practice.
Price Impact
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