Lamb Weston's International Chief Leaves With No Cash Severance, But Keeps Prorated Equity And Three Years To Exercise Options
Marc Schroeder, President, International, stays through December 31, 2026, then advises until February 15, 2027, the company's 8-K says.
Marc Schroeder, Lamb Weston's President, International, resigned under a transition agreement signed Monday, according to an 8-K the company filed Tuesday. He gets no cash severance, but he keeps a prorated share of his recent equity awards.
What the 8-K says
Schroeder will remain President, International through December 31, 2026. He then stays on in an advisory role until February 15, 2027.
The filing says the agreement was made in connection with his resignation and to ensure a smooth transition. The company's Compensation and Human Capital Committee approved its terms.
Schroeder signed a general release of claims against Lamb Weston. He is also bound by non-compete, non-solicitation and confidentiality provisions, and the first two run for one year after his separation date.
What he keeps, and what he does not
The filing states that Schroeder is not entitled to any cash severance payments.
He remains eligible for an annual incentive award for fiscal 2027, based on actual performance and prorated from the start of that fiscal year through his separation date.
On equity, he will vest in a prorated portion of his fiscal 2025 and 2026 awards, measured by service from each grant date to separation. His supplemental stock option awards granted in February 2026 are excluded.
Any performance shares pay out only after the committee certifies final performance at the end of each award's cycle. Schroeder has until the third anniversary of his separation date to exercise his outstanding stock options.
Shares and what to watch
Lamb Weston shares closed Tuesday at $47.91 and traded at $47.75 in Tuesday after-hours trading, according to market data. The filing was accepted at 5:01 p.m. ET.
The 8-K does not name a successor. His President, International role ends December 31, 2026, and his advisory period ends February 15, 2027.
The full Transition and Separation Agreement is attached to the 8-K as Exhibit 10.1, between Lamb Weston B.V. and Schroeder.
Sources
- 8-K Filing — Lamb Weston Holdings, Inc. (LW) — SEC EDGAR
More on Lamb Weston
- Lamb Weston Chair Says The Company Is Worth More Than Its Stock Price, After Replacing Half The Executive Team
- Lamb Weston's Cash Flow Got A $59.2 Million Lift From Suppliers While Net Income Fell To $29.1 Million
- Lamb Weston Raises Full-Year EPS Forecast To $3.05-$3.35 As European Weakness Cuts Quarterly Profit
