Short answer
J.M. Smucker Company (The) (SJM) filed an 8-K current report with the SEC on March 3, 2026 reporting Item 5.02 (Departure/Election of Directors or Officers). Brase (former President & COO) separation effective Feb 26, 2026: cash severance totals ~$1.993M across base pay, bonus, medical, relocation, and outplacement.
J.M. Smucker Company (The) 8-K event analysis
AI summary of each reported item and its exhibits
Item 5.02 · Departure/Election of Directors or Officers
- Brase (former President & COO) separation effective Feb 26, 2026: cash severance totals ~$1.993M across base pay, bonus, medical, relocation, and outplacement
- Largest cash component: $1,185,000 lump sum (18 months base salary), payable Apr 17, 2026
- Pro-rata FY2026 incentive of $611,885 also paid Apr 17, 2026: reflects partial-year performance credit
- Partial equity acceleration granted: third-tranche RSAs/options from June 2023 vest; 2020 hire grant vests; pro-rated performance units from 2023 and 2024 grants remain performance-contingent
- Terms consistent with existing Executive Severance Plan: signals no negotiated windfall; full agreement to be filed with FY2026 10-K (period ending Apr 30, 2026)
Generated from the filing text and exhibits; verify against the original. What 8-K item codes mean
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