N-able (NYSE: NABL) outlines severance deal with former CRO
Rhea-AI Filing Summary
N‑able, Inc. details the separation arrangements for former Chief Revenue Officer Frank Colletti. He remains an employee through February 28, 2027, though his duties ended July 9, 2026, and will receive continued base salary and benefits through that date.
The package includes lump‑sum payments of CAN$373,375 after the Deferred End Date and CAN$304,500 by October 31, 2026, extended health and dental coverage until the earlier of January 9, 2028 or new employment, continued equity program eligibility through the Deferred End Date, and change‑in‑control protection for events effective on or before December 31, 2026. These benefits replace those under his prior employment agreement and require a release of claims.
Positive
- None.
Negative
- None.
8-K Event Classification
2 items: 5.02, 9.01
2 items
Item 5.02
Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers
Governance
Key personnel changes including departures, elections, or appointments of directors and executive officers.
Item 9.01
Financial Statements and Exhibits
Exhibits
Financial statements, pro forma financial information, and exhibit attachments filed with this report.
Key Figures
Duties end date: July 9, 2026
Deferred End Date: February 28, 2027
Lump sum severance payment: CAN$373,375
+4 more
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Duties end date
July 9, 2026
Date Frank Colletti was released from his duties as Chief Revenue Officer
Deferred End Date
February 28, 2027
Date through which Frank Colletti remains employed under the Separation Agreement
Lump sum severance payment
CAN$373,375
Cash payment payable following the Deferred End Date
Target bonus payment
CAN$304,500
Lump sum representing annual target bonus payable no later than October 31, 2026
Health and dental benefits end date
January 9, 2028
Latest possible date for continued health and dental benefits, subject to earlier new employment
Change in control protection date
December 31, 2026
Change in control effective on or before this date triggers employment agreement consideration
Separation Agreement date
July 21, 2026
Date of Separation Letter Agreement and Release between N-able Solutions ULC and Frank Colletti
Key Terms
Separation Agreement, Deferred End Date, change in control, release of claims
4 terms
Separation Agreement regulatory
"In connection with his departure, Mr. Colletti entered into a separation agreement"
A separation agreement is a written contract that spells out the financial and legal terms when an employee and a company part ways, such as final pay, severance, continued benefits, confidentiality, and any release of claims. For investors, it matters because these agreements determine immediate costs, potential future liabilities, and whether departing staff are restricted from competing or disclosing information—factors that can affect a company’s cash flow, risk profile, and leadership continuity.
Deferred End Date financial
"will remain employed through February 28, 2027 (the “Deferred End Date”)"
change in control financial
"in the event of a change in control with an effective date on or before December 31, 2026"
A "change in control" occurs when the ownership or management of a company shifts significantly, such as through a merger, acquisition, or sale of a large part of its assets. This change can impact how the company is run and may influence its future direction. For investors, it matters because it can affect the company's stability, strategy, and value, often signaling potential changes in investment risk or opportunity.
release of claims regulatory
"benefits described above are in lieu of the benefits otherwise payable and are subject to his execution of a customary release of claims"
AI-generated analysis. How Rhea-AI works. Not financial advice.
FAQ
What separation arrangements does N-able (NABL) describe for former CRO Frank Colletti?
N-able outlines a separation package for former CRO Frank Colletti, including continued salary and benefits through February 28, 2027, cash severance, a target bonus payment, extended health and dental coverage, ongoing equity eligibility, and specific change-in-control protections replacing his prior employment agreement benefits.
How long will Frank Colletti remain an employee of N-able (NABL)?
Under the Separation Agreement, Frank Colletti remains an employee through February 28, 2027, the Deferred End Date. He was released from his duties effective July 9, 2026, but continues to receive base salary, employee benefits, and equity program eligibility until the Deferred End Date.
What cash payments will Frank Colletti receive from N-able (NABL) under the Separation Agreement?
Colletti will receive a lump sum of CAN$373,375 after the Deferred End Date and a separate lump sum of CAN$304,500, representing his annual target bonus, payable no later than October 31, 2026, in addition to ongoing salary and benefits through February 28, 2027.
How long are health and dental benefits extended for Frank Colletti by N-able (NABL)?
Health and dental benefits continue until the earlier of January 9, 2028 or the date Colletti starts other employment or service. These extended benefits are part of his negotiated separation package and supplement his continued salary and equity program eligibility through the Deferred End Date.
What change-in-control protection does N-able (NABL) provide to Frank Colletti?
If a change in control becomes effective on or before December 31, 2026, Colletti will receive the applicable consideration under his existing employment agreement. This change-in-control protection applies in addition to the separation benefits and is contingent on the same Separation Agreement framework.
Are the separation benefits for Frank Colletti at N-able (NABL) conditional?
Yes. The separation benefits are stated to be in lieu of those otherwise payable under Colletti’s employment agreement and are subject to his execution of a customary release of claims, making the package contingent on that legal release.