The Scotts Miracle-Gro Company entered into a separation agreement with Christopher J. Hagedorn, its former Executive Vice President & Chief Strategy Officer, on October 13, 2026. The agreement formalizes the terms of his departure, which was effective September 30, 2026, and outlines his severance compensation and the treatment of his equity awards.
Key Details
- Severance & Bonus: Mr. Hagedorn will receive severance pay equal to 24 months of his base salary and a bonus amount equal to 2.0 times his target bonus opportunity, payable in two installments over two years.
- Equity Treatment: 57,033 non-qualified stock options vested upon his termination date and will expire 180 days later. 16,239 performance units will vest on February 16, 2027, subject to performance criteria. All other unvested stock options and performance units were forfeited.
- Additional Benefits: The agreement also includes up to 12 months of outplacement services and a benefits offset payment for COBRA premiums for a period of 24 months.