Whirlpool (WHR) outlines $2.99M separation deal for former North America president
Filing Impact
Filing Sentiment
Form Type
8-K
Rhea-AI Filing Summary
Whirlpool Corporation reports final separation terms for Alessandro Perucchetti, former Executive Vice President and President, Whirlpool North America. Under a Waiver and Release Agreement, his employment ended on March 31, 2026, and he will receive $2,997,560 paid in two installments.
He remains eligible for a prorated 2026 annual incentive under the Executive Performance Excellence Plan, based on 2026 company performance as determined by the Human Resources Committee in February 2027. All payments depend on his waiver of claims, compliance with 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 payment: $2,997,560
First severance installment timing: Within 30 days
Second severance installment timing: March 2027
+4 more
7 metrics
Severance payment
$2,997,560
Total cash consideration under Waiver and Release Agreement
First severance installment timing
Within 30 days
From March 31, 2026 termination date
Second severance installment timing
March 2027
Second payment date under Agreement
Employment termination date
March 31, 2026
Date Perucchetti’s employment with Whirlpool ended
Restrictive covenant period
Two years
Post-termination compliance period required by Agreement
Incentive plan year
2026
Executive Performance Excellence Plan prorated award eligibility
Incentive determination date
February 2027
When Human Resources Committee will determine 2026 performance
Key Terms
Waiver and Release Agreement, Executive Performance Excellence Plan, restrictive covenants, covenant of cooperation, +2 more
6 terms
Waiver and Release Agreement financial
"Mr. Perucchetti entered into a Waiver and Release Agreement with the Company"
Executive Performance Excellence Plan financial
"eligible to receive a prorated annual incentive award under the 2026 Executive Performance Excellence Plan"
restrictive covenants financial
"compliance with customary restrictive covenants 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.
covenant of cooperation financial
"and an ongoing covenant of cooperation"
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.
Emerging growth company regulatory
"Emerging growth company"
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.
FAQ
What executive change did Whirlpool (WHR) disclose in this 8-K?
Whirlpool disclosed that Alessandro Perucchetti, formerly Executive Vice President and President, Whirlpool North America, ended his employment on March 31, 2026. His departure follows an earlier step-down from his executive officer role as part of the company’s ongoing talent planning process disclosed in November 2025.
How much severance will Alessandro Perucchetti receive from Whirlpool (WHR)?
Under the Waiver and Release Agreement, Alessandro Perucchetti will receive a total cash payment of $2,997,560. The amount will be paid in two installments, one within 30 days of his March 31, 2026 termination date and the second in March 2027.
What bonus or incentive compensation can Perucchetti still earn from Whirlpool (WHR)?
Perucchetti is eligible for a prorated annual incentive award under Whirlpool’s 2026 Executive Performance Excellence Plan. The award will be based on his target incentive percentage and 2026 company performance, as determined by the Human Resources Committee in February 2027.
What conditions must Perucchetti meet to receive payments from Whirlpool (WHR)?
All consideration under the Agreement is contingent on his compliance with its terms. These include a waiver and release of all claims against Whirlpool, adherence to customary restrictive covenants for two years after termination, and an ongoing covenant of cooperation with the company.
What document details Whirlpool’s agreement with Alessandro Perucchetti?
The terms are set out in a Waiver and Release Agreement between Whirlpool and Alessandro Perucchetti. The company notes that its summary is not complete and refers investors to the full text, filed as Exhibit 10.1 to this Form 8-K for complete details.