Whirlpool details severance for former CFO James Peters

Whirlpool Corporation filed a current report describing the finalized separation terms for James Peters, its former Executive Vice President, Chief Financial and Administrative Officer and President, Whirlpool Asia.

Accepted by SEC EDGAR 04/01/2026 - 04:05 PM EDT

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Form Type

8-K

Rhea-AI Filing Summary

Whirlpool Corporation filed a current report describing the finalized separation terms for James Peters, its former Executive Vice President, Chief Financial and Administrative Officer and President, Whirlpool Asia. His employment ended on March 30, 2026 under a Waiver and Release Agreement.

Under this agreement, Mr. Peters will receive $3,046,500 in severance, paid in two installments, with the second scheduled for March 2027. He remains eligible for a prorated 2026 annual incentive based on Company performance and for vesting of 20,000 restricted stock units on March 1, 2028. These benefits depend on his waiver of claims, adherence to two-year restrictive covenants, and an ongoing cooperation obligation.

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 amount: $3,046,500 RSU award: 20,000 restricted stock units Preferred dividend rate: 8.50% +2 more

5 metrics

Severance amount $3,046,500 Total cash payments under Waiver and Release Agreement

RSU award 20,000 restricted stock units Outstanding award scheduled to vest March 1, 2028

Preferred dividend rate 8.50% Series A Mandatory Convertible Preferred Stock dividend rate

Termination date March 30, 2026 Employment termination date under Waiver and Release Agreement

Bonus determination timing February 2027 Human Resources Committee to determine 2026 incentive payout

Key Terms

Waiver and Release Agreement, restricted stock unit, Executive Performance Excellence Plan, restrictive covenants, +1 more

5 terms

Waiver and Release Agreement regulatory

"Mr. Peters entered into a Waiver and Release Agreement with the Company"

restricted stock unit financial

"eligible for the vesting and distribution of an outstanding 20,000 restricted stock unit award"

A restricted stock unit is a promise from a company to give an employee shares of stock after certain conditions are met, like staying with the company for a set amount of time. It’s like earning a bonus that turns into company stock once you’ve proven your commitment, making it a way to motivate and reward employees.

Executive Performance Excellence Plan financial

"prorated annual incentive award under the 2026 Executive Performance Excellence Plan"

restrictive covenants regulatory

"customary restrictive covenants in effect for two years following his termination date"

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.

Regulation FD regulatory

"for complying with our disclosure obligations under Regulation FD"

Regulation FD is a rule that prevents company insiders, like executives, from sharing important information with some people before others get it. It matters because it helps ensure all investors have equal access to key news, making the stock market fairer and reducing chances of insider trading.

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What does Whirlpool (WHR) disclose about James Peters’ departure?

Whirlpool reports that James Peters, formerly Executive Vice President, Chief Financial and Administrative Officer and President, Whirlpool Asia, ended his employment on March 30, 2026 under a Waiver and Release Agreement outlining severance, bonus eligibility, equity vesting, and post-employment obligations.

How much severance will James Peters receive from Whirlpool (WHR)?

James Peters will receive total severance of $3,046,500 from Whirlpool, paid in two installments. The first payment is due within 30 days of his March 30, 2026 termination date, and the second is scheduled to be paid during March 2027 under the agreement terms.

What bonus opportunity does James Peters retain after leaving Whirlpool (WHR)?

After leaving Whirlpool, James Peters remains eligible for a prorated 2026 annual incentive under the Executive Performance Excellence Plan. The payout will be based on his target award percentage and Whirlpool’s 2026 performance as determined by the Human Resources Committee in February 2027.

What happens to James Peters’ Whirlpool (WHR) restricted stock units?

James Peters remains eligible for vesting and distribution of an outstanding award of 20,000 Whirlpool restricted stock units. This award is scheduled to vest and be distributed on March 1, 2028, subject to his ongoing compliance with all terms of the Waiver and Release Agreement.

What conditions must James Peters meet to receive his Whirlpool (WHR) benefits?

To receive his severance, bonus eligibility, and equity vesting, James Peters must comply with the Waiver and Release Agreement. This includes a waiver and release of claims, two years of restrictive covenants after termination, and an ongoing cooperation covenant with Whirlpool Corporation.

What executive role did James Peters previously hold at Whirlpool (WHR)?

James Peters previously served as Executive Vice President, Chief Financial and Administrative Officer and President, Whirlpool Asia. He stepped down from his executive officer role effective January 1, 2026 as part of Whirlpool’s ongoing talent planning process before his employment formally ended on March 30, 2026.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, DC 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) March 30, 2026

WHIRLPOOL CORPORATION

(Exact name of registrant as Specified in Charter)

Delaware

1-3932

38-1490038

(State or Other Jurisdiction of Incorporation)

(Commission File Number)

(I.R.S. Employer Identification No.)

2000 North M-63,

Benton Harbor,

Michigan

49022-2692

(Address of principal executive offices)

(Zip Code)

Registrant’s telephone number, including area code (269) 923-5000

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 $1.00 per share

WHR

New York Stock Exchange

and

NYSE Texas

Depositary Shares, each representing a 1/20 interest in a share of 8.50% Series A Mandatory Convertible Preferred Stock

WHR-PRA

New York Stock Exchange

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

As reported by Whirlpool Corporation (the “Company”) in its Current Report on Form 8-K, dated November 5, 2025, James Peters, formerly Executive Vice President, Chief Financial and Administrative Officer and President, Whirlpool Asia stepped down from his executive officer role, effective January 1, 2026, as part of the Company’s ongoing talent planning process.

Mr. Peters entered into a Waiver and Release Agreement with the Company under which his employment terminated on March 30, 2026 (the “Agreement”). Under the terms of the Agreement, Mr. Peters will receive payment of $3,046,500 in two installments, the first to be made within 30 days of his termination date and the second to be made in March 2027. He will be eligible to receive a prorated annual incentive award under the 2026 Executive Performance Excellence Plan based on his target award percentage and 2026 Company performance as determined by the Human Resources Committee of the Board of Directors in February 2027. In addition, Mr. Peters will be eligible for the vesting and distribution of an outstanding 20,000 restricted stock unit award on March 1, 2028. All consideration due to Mr. Peters under the Agreement is contingent upon his compliance with its terms, including a customary waiver and release of claims and customary restrictive covenants in effect for two years following his termination date, and an ongoing covenant of cooperation.

The above description of the Agreement is not complete and is qualified in its entirety by reference to the full text of the Agreement which is filed as Exhibits 10.1 to this Current Report.

Item 9.01. Financial Statements and Exhibits.

(d) Exhibits.


Exhibit No.			Exhibit

Exhibit 10.1			Waiver and Release Agreement Executed March 30, 2026 by and between the Company and James Peters
Exhibit 104			Cover Page Interactive Data File (embedded within the Inline XBRL document)

Website Disclosure

We routinely post important information for investors on our website, whirlpoolcorp.com, in the "Investors" section. We also intend to update the Hot Topics Q&A portion of this webpage as a means of disclosing material, non-public information and for complying with our disclosure obligations under Regulation FD. Accordingly, investors should monitor the Investors section of our website, in addition to following our press releases, SEC filings, public conference calls, presentations and webcasts. The information contained on, or that may be accessed through, our webpage is not incorporated by reference into, and is not a part of, this 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.

Date: April 1, 2026 WHIRLPOOL CORPORATION

By: /s/ BRIDGET K. QUINN

Name: Bridget K. Quinn

Title: Deputy General Counsel & Corporate Secretary

Source: View Original Filing on SEC EDGAR

Filing Exhibits & Attachments

5 documents

Agreements & Contracts

EX-10.1 EX-10.1 62.9 KB