Short answer
Firefly Aerospace Inc. (FLY) filed an 8-K current report with the SEC on March 3, 2026 reporting Item 5.02 (Departure/Election of Directors or Officers). CEO severance: 1x base salary + 1x target bonus outside Change-in-Control window; doubles to 2x base + 2x bonus within 24-month CIC Protection Period.
Firefly Aerospace Inc. 8-K event analysis
AI summary of each reported item and its exhibits
Item 5.02 · Departure/Election of Directors or Officers
- CEO severance: 1x base salary + 1x target bonus outside Change-in-Control window; doubles to 2x base + 2x bonus within 24-month CIC Protection Period
- All executives get 1-year COBRA subsidy on termination; CEO gets 2-year COBRA coverage in CIC scenario
- Full immediate vesting of all unvested equity (time-based and performance-based) triggered by qualifying termination during CIC window or death
- Outside CIC window: only 1-year acceleration on time-based RSUs; performance RSUs vest pro-rata on actual results at period end
- No Section 280G tax gross-up: executives bear excise tax risk, subject to better net after-tax calculation (pay full or reduce to avoid tax)
Generated from the filing text and exhibits; verify against the original. What 8-K item codes mean
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