Ecovyst Inc. (ECVT): Other Named Executive Officers compensation terms

Events in this filing

Item 5.02 as filed

Item 5.02
Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
Amendment and Restatement of Ecovyst Catalyst Technologies LLC Severance Plan
On October 22, 2026, the Compensation Committee of the Board of Directors of Ecovyst Inc. (the “Company”) approved a Second Amended and Restated Ecovyst Catalyst Technologies LLC Severance Plan, effective as of October 22, 2026 (the “Severance Plan”). The Severance Plan amends and restates the Amended and Restated Ecovyst Catalyst Technologies LLC Severance Plan effective as of January 1, 2022 (the “Prior Plan”). Eligible employees of the Company and its subsidiaries, including the Company’s named executive officers, are eligible to participate in the Severance Plan.
Material amendments to the Prior Plan include the following:
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For executive officers of the Company, “Compensation” for purposes of the Severance Plan is defined as the sum of the executive officer’s (a) base salary and (b) target annual bonus.
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An eligible executive officer of the Company will be eligible to receive severance upon a termination of employment without “Cause” or a resignation for “Good Reason” outside of the Change in Control Protection Period in an amount equal to fifty-two (52) weeks of Compensation. For the Chief Executive Officer, this amount will be equal to one hundred four (104) weeks of Compensation.
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If the executive officer’s employment is terminated without “Cause” or the executive officer resigns for “Good Reason” during the Change in Control Protection Period, the executive officer will be eligible to receive severance in an amount equal to the greater of (i) the severance described in the immediately preceding bullet and (ii) eighteen (18) months of Compensation. For the Chief Executive Officer, clause (ii) is thirty (30) months of Compensation. The “Change in Control Protection Period” is the period that begins six (6) months prior to and ends twenty-four (24) months following a “Change in Control.” Severance will be paid in a lump sum.
If an executive officer is party to an agreement that provides for severance benefits, the executive officer will receive the benefits under his or her individual agreement or those provided under the Severance Plan, whichever provides him or her with the greater amount of benefits.
For purposes of this description, the terms “Cause,” “Change in Control,” and “Good Reason,” have the meanings assigned to them in the Severance Plan.
The foregoing summary is qualified in its entirety by reference to the Severance Plan, which is filed as Exhibit 10.1 hereto and is incorporated herein by reference.