Tyson Foods details COO separation payout
Tyson Foods, Inc. filed an amended report to add details about the separation of former Chief Operating Officer Devin Cole.
Rhea-AI Filing Summary
Tyson Foods, Inc. filed an amended report to add details about the separation of former Chief Operating Officer Devin Cole. The company and Mr. Cole entered into a separation agreement on June 16, 2026, in connection with his stepping down from the COO role.
Under this agreement, Mr. Cole will receive a lump sum cash payment of $10,578,900, subject to his release of claims against the company and reaffirmation of existing restrictive covenants and confidentiality obligations. He will forfeit all outstanding performance stock upon departure, and his time-based equity awards will be handled under the existing award agreements.
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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, or exhibit attachments filed with this report.
Key Figures
Severance payment: $10,578,900
Effective COO change date: June 15, 2026
Separation agreement date: June 16, 2026
+2 more
5 metrics
Severance payment
$10,578,900
Lump sum to former COO Devin Cole under separation agreement
Effective COO change date
June 15, 2026
Date Wes Morris becomes COO and Devin Cole steps down
Separation agreement date
June 16, 2026
Date Tyson Foods and Devin Cole executed separation agreement
Planned 10-Q quarter end
June 27, 2026
Quarter end for Form 10-Q where agreement will be filed as exhibit
Form type
8-K/A
Amendment to prior current report to add separation details
Key Terms
separation agreement, performance stock, time-based equity awards, restrictive covenants, +1 more
5 terms
separation agreement financial
"the Company and Mr. Cole entered into a separation agreement on June 16, 2026"
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.
performance stock financial
"He will forfeit all outstanding performance stock upon his departure"
time-based equity awards financial
"each of his existing time-based equity awards will be treated in accordance with the terms"
restrictive covenants financial
"reaffirmation of his commitment to comply with his existing restrictive covenants"
Restrictive covenants are contract terms that limit what a company, its executives, or shareholders can do—like rules that prohibit selling stock, starting a rival business, or taking on certain debts. Think of them as house rules that protect one party’s interests by keeping risky or competitive actions off the table. For investors they matter because these limits affect a company’s flexibility, governance, potential future value and the ease of exiting an investment.
confidentiality obligations financial
"reaffirmation of his commitment to comply with his existing restrictive covenants and confidentiality obligations"
Confidentiality obligations are legal duties that require parties to keep specified information private and not share it beyond agreed limits. Like putting sensitive papers in a locked box, they protect trade secrets, financial details and strategic plans; investors care because these rules determine what information becomes public, affect deal terms and valuation, and a breach can lead to legal penalties, loss of trust and financial harm.
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
What does Tyson Foods’ 8-K/A filing disclose about Devin Cole’s departure?
The 8-K/A discloses details of former Chief Operating Officer Devin Cole’s separation agreement. It outlines a lump sum cash payment, treatment of equity awards, and conditions tied to his release of claims and reaffirmation of existing restrictive and confidentiality obligations.
How much severance will Devin Cole receive from Tyson Foods (TSN)?
Devin Cole will receive a lump sum cash payment of $10,578,900 under his separation agreement. This payment is conditioned on his release of claims against Tyson Foods and reaffirmation of his existing restrictive covenants and confidentiality obligations with the company.
How are Devin Cole’s equity awards treated in the Tyson Foods separation?
Upon his departure, Devin Cole will forfeit all outstanding performance stock. His existing time-based equity awards will be treated according to the terms of the applicable award agreements, meaning no special modifications are described beyond what those original agreements already provide.
What conditions are attached to Devin Cole’s severance from Tyson Foods?
The severance payment is subject to Devin Cole’s release of claims against Tyson Foods and his reaffirmation of existing restrictive covenants and confidentiality obligations. These conditions aim to settle potential disputes and ensure continued compliance with prior contractual commitments to the company.
Does the 8-K/A change other disclosures in Tyson Foods’ earlier filing?
The 8-K/A states that, aside from adding the new separation details for Devin Cole, no other disclosure from the earlier report is amended. All other information in the prior filing remains in effect without further modification or clarification described here.
When will Tyson Foods file the full text of Devin Cole’s separation agreement?
Tyson Foods plans to file the full separation agreement as an exhibit to its Form 10-Q for the quarter ending June 27, 2026. Investors will be able to review the complete terms once that quarterly report becomes publicly available with exhibits.
AI-generated analysis. How Rhea-AI works. Not financial advice.
