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Turtle Beach (NASDAQ: TBCH) adopts executive severance policy and Wynne pact

Filing Impact
(Moderate)
Filing Sentiment
(Neutral)
Form Type
8-K

Rhea-AI Filing Summary

Turtle Beach Corporation approved a new Executive Severance Policy on July 28, 2026. The policy covers the Chief Executive Officer and certain other executives and provides severance benefits if the company terminates an executive’s employment without Cause, conditioned on the executive signing a general release of claims.

On July 29, 2026, Turtle Beach entered into a separate Severance Agreement with Megan Wynne. Under this agreement, Wynne may receive severance benefits if the company terminates her without Cause or if she resigns for Good Reason. The Executive Severance Policy and the Wynne Severance Agreement are provided as Exhibits 10.1 and 10.2.

Positive

  • None.

Negative

  • None.
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.
Executive Severance Policy date July 28, 2026 Date Turtle Beach Corporation adopted the Executive Severance Policy
Wynne Severance Agreement date July 29, 2026 Date Turtle Beach and Megan Wynne entered into her Severance Agreement
Executive Severance Policy exhibit Exhibit 10.1 Exhibit number for the Turtle Beach Corporation Executive Severance Policy
Wynne Severance Agreement exhibit Exhibit 10.2 Exhibit number for the Severance Agreement with Megan Wynne
Executive Severance Policy regulatory
"adopted the Turtle Beach Corporation Executive Severance Policy"
Cause regulatory
"terminates a participant’s employment without Cause"
Good Reason regulatory
"Ms. Wynne resigns for Good Reason"
general release of claims regulatory
"participant timely executes a general release of claims against the Company"
Emerging growth company regulatory
"Emerging growth company checkbox reference"
An emerging growth company is a recently public or smaller public firm that qualifies for temporary, lighter regulatory and disclosure rules to reduce the cost and effort of being public. For investors, it means the company may provide less historical financial detail and face fewer reporting requirements than larger firms, so it can grow more quickly but also carries higher uncertainty—like buying a promising early-stage product with fewer user reviews.

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FAQ

What executive severance policy did Turtle Beach (TBCH) adopt on July 28, 2026?
On July 28, 2026, Turtle Beach adopted an Executive Severance Policy covering its CEO and certain other executives. It provides severance benefits if the company terminates an executive without Cause, subject to the executive signing a general release of claims.

Who is covered by the new Turtle Beach (TBCH) Executive Severance Policy?
The Executive Severance Policy applies to Turtle Beach’s Chief Executive Officer and certain other executives. Eligibility and specific benefits are described in the policy itself, which is included as Exhibit 10.1 to the company’s disclosure materials.

What are the key terms of Megan Wynne’s severance agreement with Turtle Beach (TBCH)?
Under the July 29, 2026 Wynne Severance Agreement, Megan Wynne may receive severance benefits if Turtle Beach terminates her without Cause or if she resigns for Good Reason, consistent with definitions set out in the agreement (Exhibit 10.2).

How do terminations without Cause trigger severance at Turtle Beach (TBCH)?
Both the Executive Severance Policy and the Wynne Severance Agreement can provide severance benefits when employment ends without Cause. For covered executives, these benefits generally require execution of a general release of claims against Turtle Beach.

What is “Good Reason” in the context of Turtle Beach (TBCH) severance protections?
For Megan Wynne, resigning for Good Reason can qualify as a severance-triggering event. Good Reason is defined in the Wynne Severance Agreement, and its occurrence may entitle her to severance benefits similar to a termination without Cause.

Where can investors find the full severance documents for Turtle Beach (TBCH)?
The complete Executive Severance Policy is filed as Exhibit 10.1, and the Wynne Severance Agreement is filed as Exhibit 10.2. These exhibits contain the detailed definitions, conditions, and scope of the severance benefits.
Turtle Beach Corp false 0001493761 0001493761 2026-07-28 2026-07-28 0001493761 us-gaap:CommonStockMember 2026-07-28 2026-07-28 0001493761 us-gaap:PreferredStockMember 2026-07-28 2026-07-28
 
 

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

 

FORM 8-K

 

 

CURRENT REPORT

Pursuant to Section 13 OR 15(d)

of The Securities Exchange Act of 1934

Date of Report (Date of Earliest Event Reported): July 28, 2026

 

 

TURTLE BEACH CORPORATION

(Exact Name of Registrant as Specified in Its Charter)

 

 

001-35465

(Commission

File Number)

 

Nevada   27-2767540
(State or Other Jurisdiction
of Incorporation)		   (I.R.S. Employer
Identification No.)

 

15822 Bernardo Center Drive, Suite 105
San Diego, California 92127
(Address of principal executive offices) (Zip code)

(914) 345-2255

(Registrant’s telephone number, including area code)

 

 

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

 

☐

Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

 

☐

Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

 

☐

Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

 

☐

Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

 

Title of each class

  

Trading
Symbol(s)

  

Name of each exchange

on which registered

Common Stock, par value $0.001   TBCH   The Nasdaq Global Market
Preferred Stock Purchase Rights   N/A   The Nasdaq Global Market

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter):

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

 

 
 

Item 5.02

Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

Severance Policy

On July 28, 2026, Turtle Beach Corporation (the “Company”) adopted the Turtle Beach Corporation Executive Severance Policy (the “Severance Policy”), pursuant to which the Company’s Chief Executive Officer and certain other executives of the Company are eligible to receive certain severance benefits as described in the Severance Policy.

Under the terms of the Severance Policy, in the event the Company terminates a participant’s employment without Cause (as such term is defined in the Severance Policy), and the participant timely executes a general release of claims against the Company, the participant will receive the following severance benefits:

 

  •  

a cash severance payment equal to three (3) months of annual base salary;

 

  •  

reimbursement of up to $3,000 in outplacement services; and

 

  •  

reimbursement of the employer portion of COBRA premiums for continued health care coverage for a period of up to three (3) months, subject to the participant’s timely election of continuation coverage under COBRA and continued payment of the participant’s share of premiums.

The foregoing description of the Severance Policy does not purport to be complete and is qualified in its entirety by reference to the full text of the Severance Policy, which is filed as Exhibit 10.1 to this Current Report on Form 8-K and is incorporated herein by reference.

Wynne Severance Agreement

On July 29, 2026, the Company entered into a Severance Agreement (the “Wynne Severance Agreement”) with Megan Wynne, pursuant to which Ms. Wynne is eligible to receive certain severance benefits upon a qualifying termination of her employment.

Under the terms of the Wynne Severance Agreement, in the event the Company terminates Ms. Wynne’s employment without Cause or Ms. Wynne resigns for Good Reason (as such terms are defined in the Wynne Severance Agreement), Ms. Wynne may receive the following severance benefits:

 

  •  

monthly payments equal to her base salary for a period of twelve (12) months following termination; provided that, if such termination occurs within six (6) months following a Change in Control, the aggregate amount payable will instead be equal to one and a half times (1.5x) her annual base salary, payable in a lump sum;

 

  •  

a pro-rata annual bonus for the fiscal year of termination based on actual performance results, payable at the same time annual bonuses are paid to other senior executives of the Company; and

 

  •  

subject to (a) her timely election of continuation coverage under COBRA and (b) her continued copayment of premiums at the same level and cost to her as if she were an employee of the Company, continued participation in the Company’s group health plan for a period of up to twelve (12) months.

The foregoing description of the Wynne Severance Agreement does not purport to be complete and is qualified in its entirety by reference to the full text of the Wynne Severance Agreement, which is filed as Exhibit 10.2 to this Current Report on Form 8-K and is incorporated herein by reference.

Item 9.01.

Financial Statements and Exhibits.

(d) Exhibits

 

Exhibit
No.		    Description
10.1    Turtle Beach Corporation Executive Severance Policy, dated July 28, 2026.
10.2    Severance Agreement, dated July 29, 2026, by and between Turtle Beach Corporation and Megan Wynne.
104    Cover Page Interactive Data File (embedded within the Inline XBRL document).

SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

 

    TURTLE BEACH CORPORATION
Date: July 31, 2026     By:  

/s/ CHRIS KEIRN

      Chris Keirn
      Chief Executive Officer

Source: View Original Filing on SEC EDGAR

Filing Exhibits & Attachments

6 documents

Agreements & Contracts

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