UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM
CURRENT REPORT
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Item 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers
On September 17, 2021, Hillenbrand, Inc. (the “Company”) entered into a Key Employee Retention Agreement (the “Agreement”) with Kristina A. Cerniglia, Senior Vice President and Chief Financial Officer of the Company, which provides for a cash award and an equity award pursuant to the Company’s Amended and Restated Stock Incentive Plan. The cash award has a total grant date value of approximately $1,000,000, to be paid in three installments: $650,000 to be paid on December 31, 2021; $250,000 to be paid on March 31, 2022; and $100,000 to be paid on July 1, 2022, subject in each case to Ms. Cerniglia’s continued employment on each such date. Each award will vest in full if Ms. Cerniglia’s employment is terminated by the Company without cause prior to the applicable vesting date and each award will be forfeited if Ms. Cerniglia’s employment is terminated for any other reason prior to such vesting date. The equity award has a total grant date value of approximately $1,400,000, to be paid in the form of restricted stock units vesting 50% on July 1, 2023 and 50% on July 1, 2024, subject in each case to Ms. Cerniglia’s continued employment on each vesting date.
The foregoing summary does not purport to be complete and is qualified in its entirety by reference to the Agreement, a copy of which will be filed with Hillenbrand, Inc.’s Form 10-K for the fiscal year ended September 30, 2021.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
Date: September 21, 2021 | HILLENBRAND, INC. | |
By: | /s/ Nicholas R. Farrell | |
Name: | Nicholas R. Farrell | |
Title: | Senior Vice President, General Counsel, Secretary and Chief Compliance Officer |