James Hardie Industries (ASX:JHX) set out the merger-related, or "golden parachute", compensation payable to executive officers of AZEK who lose their jobs without "cause" or "good reason", according to a Friday Australian bourse filing.
James Hardie Industries seeks to acquire the US outdoor building products maker Azek for $8.75 billion.
It filed a prospectus with the US Securities and Exchange Commission. The price of AZEK common stock is assumed to be $49.17, and the closing date is assumed to be Sept. 30, under the prospectus.
It set out a compensation of $19.4 million for AZEK chief executive Jesse Singh, $3.5 million for chief financial officer Ryan Lada, $6.2 million for president, residential and commercial, Jonathan Skelly, $3.7 million for chief marketing officer Samara Toole, and $4.2 million for chief legal officer and secretary Morgan Walbridge.
Its shares rose 3% in recent trading on Friday.
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