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AI brief of an SEC Form 8-K · GORMAN RUPP CO (GRC)

Gorman-Rupp Enters Change of Control Severance Agreements With Executives

Neutral Impact 3 of 5 leadership Written later

On October 1, 2026, Gorman-Rupp entered into new Change of Control Severance Agreements with CEO Scott A. King, General Counsel Brigette A. Burnell, CFO Ronald F. Stoops and other employees. The agreements provide severance benefits if an executive is terminated without Cause or resigns for Good Reason within two years after a change of control, and they could increase payments to executives in a sale of the company.

Key points

  • Agreements dated October 1, 2026, cover CEO Scott A. King, General Counsel Brigette A. Burnell, CFO Ronald F. Stoops and other employees.
  • CEO severance is a lump sum of three times base salary plus Prior Bonus Amount, plus Prorated Annual Bonus; other executives receive two times.
  • Benefits also include 18 months of COBRA premiums, 24 months of additional credited service under retirement plans, and accelerated equity vesting in specified circumstances.
  • The agreements have a one-year initial term with one-year evergreen renewals and contain no tax gross-up.

The filing

CompanyGORMAN RUPP CO (GRC)
Form8-K, current report
Filed with the SECOct 2, 2026, 8:39 AM ET
Accession number0001193125-26-411320

Items reported: 5.02 Director / Officer Change

Read the filing on SEC.gov ↗

Written by AI on Nov 9, 2026, 8:51 AM ET, from this filing only. Written later: this filing was briefed after the fact, when past filings were added to the site, so the brief may be read with hindsight; the filing itself is the record of what was known on October 02, 2026.

Briefs are written by AI from the filing text and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the AI's reading of the filing for shareholders, not a price forecast. Not investment advice.