Research Reports

Key takeaways

Michael N. Pettit resigns as SVP, Chief Growth Officer effective April 8, 2026, transitioning to non-executive Senior Advisor.

Pettit to remain employed until Separation Date in Q3 2026, providing transition services and reporting to CEO.

During Transition Period, continued base salary of $575,000 annually, pro-rated 2026 incentive bonus eligibility, and equity vesting.

No further incentive grants during Transition Period; ineligible for Change in Control Plan benefits.

Separation treated as termination without cause under Executive Severance Plan, entitling severance benefits subject to release and covenants.

Transition Agreement filed as Exhibit 10.1.

Full analysis

The transition of Michael N. Pettit from SVP and Chief Growth Officer to a non-executive Senior Advisor role ensures continuity in growth-related responsibilities through Q3 2026. This structured departure via the Transition Agreement provides stability with continued salary payments at $575,000 annually, pro-rated incentives, and equity vesting during the period, while excluding new grants and Change in Control benefits. Post-separation, Pettit qualifies for Executive Severance Plan benefits as a without-cause termination, contingent on a release and compliance with covenants, signaling an orderly exit without disruption to leadership continuity.

WNC · Wabash National Corporation

Summary

Key takeaways

Full analysis