AstroNova Inc. has announced a new compensation agreement following the resignation of Gregory A. Woods as President and Chief Executive Officer. Effective July 16, 2025, Woods' employment terminated, and under the terms of the Separation Agreement, he will receive half of his current base salary and vehicle allowance for 52 weeks, distributed biweekly. Additionally, his outstanding and unvested time-based restricted stock units will continue to vest over the next year. Woods' stock purchase options remain exercisable until July 16, 2026, or the tenth anniversary of their grant date, whichever is sooner. The company will subsidize 100% of his COBRA coverage for up to 12 months. Woods is also required to provide up to 20 hours of weekly assistance during the transition period and cooperate in proceedings related to AstroNova's acquisition of MTEX New Solution S.A.
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