SCOTTS MIRACLE-GRO CO — Form 8-K
Filed July 1, 2026 · analyzed by the 8-K Agent
8-K
— Neutral
significance 68/100
What the filing says
James Hagedorn (age 70, CEO since 2001) terminated June 26, 2026. Nate Baxter (53) appointed President/CEO effective immediately and joined Board. Pete Shumlin elected Chairman. Hagedorn receives: $17.4M cash severance (paid over 12 months, less pension offset), $150K administrative support, $500K aircraft services (12 months), and $3.6M non-compete payments (36 months). All unvested stock options vest immediately; performance units' service requirements deemed satisfied. Hagedorn resigns from Board and all officer positions. Successor was pre-planned; company reaffirmed FY2026 guidance.
Why this rating
Leadership succession is material (CEO after 25 years) but pre-planned. Total package ~$21.7M is 0.9% of $2.4B market cap—significant but manageable. Baxter internal promotion reduces execution risk. Reaffirmed guidance signals stability.
Extracted items
- 5.02 exec change
- 9.01 exhibits
View original filing on SEC.gov ↗
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