These are standard change-of-control retention agreements designed to retain key executives during a potential transaction process. No immediate stock-moving event — monitor for any subsequent 8-K or proxy filing indicating an actual change-of-control transaction. The agreements are routine and do not signal an imminent deal.
Price Chart
Executive Summary
Gorman-Rupp entered into new Change of Control Severance Agreements with CEO Scott A. King, EVP/General Counsel Brigette A. Burnell, and CFO Ronald F. Stoops on October 1, 2026. The agreements provide enhanced severance (3x salary+bonus for the CEO, 2x for other executives), COBRA coverage, retirement credits, and equity acceleration upon a qualifying termination within two years of a change of control. This is a routine adoption of executive retention/protection arrangements with no immediate financial impact.
Key Facts
- Agreements entered into on October 1, 2026 with CEO Scott A. King, EVP/GC Brigette A. Burnell, and CFO Ronald F. Stoops
- CEO severance: lump sum of 3x (base salary + highest prior bonus) plus prorated bonus
- Other executive severance: lump sum of 2x (base salary + highest prior bonus) plus prorated bonus
- Additional benefits: 18 months COBRA premium payment, 24 months additional retirement service credit, accelerated equity vesting
- Benefits triggered by termination without Cause/Disability/death or for Good Reason within 2 years post-Change of Control, or within 6 months before a Change of Control in anticipation thereof
- Initial term of 1 year with automatic 1-year evergreen renewal; no tax gross-up provision
- No departure or appointment of any director or officer is reported
Financial Impact
No specific dollar amounts disclosed; severance multiples are formula-based (3x for CEO, 2x for other executives) but base salary and bonus figures are not disclosed
Risk Factors
- No material risk to current shareholders — the agreements are protective, not reactive
Investment Themes
Documents Analyzed
This report is based on 6 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 8-K Filing (Primary) | 0001193125-26-411320 |
| Document: grc-ex10_2.htm | 0001193125-26-411320 |
| Document: grc-20261001.htm | 0001193125-26-411320 |
| Document: 0001193125-26-411320-index-headers.html | 0001193125-26-411320 |
| Document: 0001193125-26-411320-index.html | 0001193125-26-411320 |
| Document: 0001193125-26-411320.txt | 0001193125-26-411320 |
Track record builds as more directional reports settle.
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Oct 23, 2026 3d ago | 8-K | $73.76 $74.96 | ▲ +1.63% | ▲ +0.92% | $74.96 (+1.63%) |
Oct 2, 2026 24d ago | 8-K | $77.26 $77.55 | ▲ +0.38% | ▼ −0.30% | $74.96 (−2.98%) |
Jul 24, 2026 13w ago | 8-K | $81.73 $80.56 | ▼ −1.43% | ▼ −1.45% | $74.96 (−8.28%) |
Jul 24, 2026 13w ago | 8-K | $81.73 $80.56 | ▼ −1.43% | ▼ −1.45% | $74.96 (−8.28%) |
Jun 12, 2026 19w ago | Institutional Cluster | $84.59 $85.40 | ▲ +0.96% | ▼ −0.81% | $74.96 (−11.38%) |
Apr 27, 2026 26w ago | 8-K | $75.96 $75.16 | ▼ −1.05% | ▼ −0.57% | $74.96 (−1.32%) |
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