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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d) OF
THE SECURITIES EXCHANGE ACT OF 1934
Date of Report (Date of Earliest Event Reported)
The
(Exact Name of Registrant as Specified in Its Charter)
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(State or Other Jurisdiction |
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(Commission |
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(I.R.S. Employer |
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Of Incorporation) |
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Identification No.) |
(Address of principal executive offices)
Registrant’s telephone number, including area code: (
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
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Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
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Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
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Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
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Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
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Emerging growth company |
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If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. |
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☐ |
Securities registered pursuant to Section 12(b) of the Act:
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Title of Each Class |
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Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers
On October 3, 2019, The Chemours Company (the “Company”) announced the separation from service of Paul Kirsch, President – Fluoroproducts. In connection with his departure, Mr. Kirsch and the Company entered into a separation agreement and release (the “Agreement”).
Pursuant to the Agreement, Mr. Kirsch’s employment with the Company will continue through October 31, 2019. Mr. Kirsch will receive benefits consistent with the Company’s severance plans and policies, including notice and separation payments in the aggregate amount of $63,462 and a prorated annual incentive program (AIP) award at target in the amount of $343,750. Also consistent with the Company’s severance plans and policies, certain vested stock options held by Mr. Kirsch with an approximate market value of $171,176 will continue to be exercisable for a period of one year. In addition to these benefits, in connection with ongoing non-competition obligations, Mr. Kirsch will be entitled to a payment in the amount of $595,833. Mr. Kirsch will also have ongoing confidentiality and non-solicitation obligations under the Agreement.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
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THE CHEMOURS COMPANY |
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By: |
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/s/ Sameer Ralhan |
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Sameer Ralhan |
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Senior Vice President, Chief Financial |
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Officer and Treasurer |
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Date: |
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October 3, 2019 |