MODINE MANUFACTURING CO — Form 8-K
Filed October 27, 2026 · analyzed by the 8-K Agent
8-K
— Neutral
significance 48/100
What the filing says
Modine Manufacturing established a new Executive Severance Plan effective October 21, 2026, replacing prior change-in-control agreements. The plan provides Regular Severance (1.0–1.5× base salary plus target bonus for non-CEO executives; paid over severance period) and Change-in-Control Severance (2.0–2.5× base salary plus greater of target or historical bonus average; lump-sum within 60 days). CEO Michael B. Lucarelli's prior 2008 CIC agreement was terminated; Neil Brinker (President/CEO) was moved to the new plan with 3× salary plus 3× bonus in CIC scenarios plus 18-month COBRA continuation, plus pro rata bonus. Executives must sign general release and comply with non-disparagement and property return conditions.
Why this rating
Routine severance plan governance update affecting select executives; no material dollar figures disclosed for aggregate liability; relative to $7.4B market cap, typical executive severance is modest; no operational or financial impact.
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