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AI brief of an SEC Form 8-K · Knife River (KNF)

Knife River adopts change-in-control severance plan for five executives

Neutral Impact 3 of 5 leadership Written later

Knife River's Compensation Committee adopted a Change in Control Severance Plan effective August 20, 2024, and designated five named executive officers as participants. The company also plans to switch certain equity awards from single-trigger to double-trigger vesting starting with 2025 annual awards, which means those awards would generally not vest automatically on a change in control.

Key points

  • Plan adopted effective August 20, 2024; participants include CEO Brian R. Gray, CFO Nathan W. Ring and COO Trevor J. Hastings
  • Gray has a 3x multiple under the plan; Ring, Hastings, Karl A. Liepitz and Nancy K. Christenson have a 2x multiple
  • Severance applies if terminated without cause or for good reason within two years after a change in control
  • 2025 annual equity awards would vest on a qualifying termination after a change in control rather than automatically

The filing

CompanyKnife River (KNF)
Form8-K, current report
Filed with the SECAug 21, 2024, 4:46 PM ET
Accession number0001955520-24-000045

Items reported: 5.02 Director / Officer Change

Read the filing on SEC.gov ↗

Written by AI on Nov 8, 2026, 1:38 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 August 21, 2024.

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.