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AI brief of an SEC Form 8-K · Perrigo (PRGO)

Perrigo reinstates executive severance policy during CEO transition period

Neutral Impact 3 of 5 leadership Written later

Perrigo's board reinstated an executive severance policy on June 29, 2026, which had ended in January 2020. It covers executive officers other than the interim CEO and any successor CEO, during a transition period running from June 7, 2026 until 12 months after a successor to Patrick Lockwood-Taylor starts as CEO. The filing ties the policy to a CEO transition, which may matter to shareholders because it sets severance costs for executives if they are terminated or resign for good reason.

Key points

  • Policy reinstated June 29, 2026; previously terminated effective January 15, 2020
  • Covers qualifying terminations from June 7, 2026 until 12 months after a successor CEO to Patrick Lockwood-Taylor commences employment
  • Eligible executives receive 1.5 times the sum of base salary and target bonus over an 18-month severance period, plus employer COBRA premiums and a pro rata bonus based on actual performance
  • Payments are subject to a release of claims and confidentiality, non-disparagement, non-compete and non-solicitation provisions

The filing

CompanyPerrigo (PRGO)
Form8-K, current report
Filed with the SECJul 6, 2026, 4:45 PM ET
Accession number0001585364-26-000108

Items reported: 5.02 Director / Officer Change

Read the filing on SEC.gov ↗

Written by AI (Anthropic Claude, claude-haiku-5-5) on Nov 8, 2026, 6:56 AM ET, from the text of the filing and its press-release exhibits 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 July 06, 2026.

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