On June 3, 2025, The AZEK Company Inc. announced amendments to its Executive Severance Plan following an agreement with James Hardie Industries plc. The revised plan provides enhanced benefits for executives in the event of a qualifying termination within 24 months of a change in control. Key features include full vesting of equity awards granted before March 23, 2025, and partial vesting of awards granted thereafter for up to 12 months post-termination. Additionally, stock options will remain exercisable for one year after termination. Executives leaving before September 30, 2025, will receive their full annual cash incentive for fiscal year 2025, while those leaving afterward will receive a pro-rated incentive based on their departure date.
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