Bloomin' Brands Updates Severance Plan and Awards CEO $2 Million in Restricted Stock Units

Reuters12-12 21:31

<a href="https://laohu8.com/S/BLMN">Bloomin' Brands</a> Updates Severance Plan and Awards CEO $2 Million in Restricted Stock Units

Bloomin' Brands Inc. has approved a Second Amended and Restated Severance Pay Plan for salaried employees at the Vice President level and above, effective December 8, 2025. The updated plan eliminates severance pay for employees terminated due to unsatisfactory performance or insufficient aptitude and introduces outplacement services for eligible participants. In addition, the Board's Compensation Committee approved special retention grants of restricted stock units for CEO Michael Spanos and Executive Vice President Kelly Lefferts, valued at $2,000,000 and $300,000 respectively. These awards vest over three years, with continued vesting in the event of termination without cause, contingent on compliance with a one-year noncompetition agreement and other restrictive covenants.

Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. Bloomin' Brands Inc. published the original content used to generate this news brief via EDGAR, the Electronic Data Gathering, Analysis, and Retrieval system operated by the U.S. Securities and Exchange Commission (Ref. ID: 0001546417-25-000143), on December 12, 2025, and is solely responsible for the information contained therein.

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