Whirlpool (NYSE: WHR) outlines $3.0M exit package for James Peters
Filing Impact
Filing Sentiment
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.
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
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
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.