Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements
Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. Transition Agreement with Dean General Advantage Sales & Marketing LLC, (“ASM”) a wholly-owned subsidiary of Advantage Solutions Inc (the “Registrant”), entered into a Transition Agreement (the “General Transition Agreement”) with Dean General…
Filed Oct 5, 2026Accepted Oct 5, 2026, 4:46 PM EDTCIK 1776661Accession 0001193125-26-414290
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Item 5.02Item 5.02 - Departure/Election of Directors
Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
Transition Agreement with Dean General
Advantage Sales & Marketing LLC, (“ASM”) a wholly-owned subsidiary of Advantage Solutions Inc (the “Registrant”), entered into a Transition Agreement (the “General Transition Agreement”) with Dean General, with an effective date of October 1, 2026. Under the General Transition Agreement, Mr. General transitioned as of the effective date from his role as Chief Industry Development Officer to the role of strategic advisor to the executive leadership team of ASM, and he will serve as a non-executive employee in such role through December 1, 2027 (the “Planned Separation Date”), or such earlier date as set forth in the General Transition Agreement (the “Transition Date”). Mr. General’s employment with ASM will terminate on the Transition Date. The General Transition Agreement provides that (i) Mr. General’s salary be reduced to $110,000, (ii) Mr. General will be eligible to receive a lump sum gross amount up to $765,810.47 (less amounts paid during the transition period) upon the consummation of a change in control (the “CIC Bonus”), and (iii) to the extent Mr. General’s employment terminates on the Planned Transition Date or, if earlier, as a result of any earlier termination other than his resignation, and such termination or the Planned Transition Date occurs prior to a change in control, Mr. General will be eligible to receive the following severance benefits: (a) cash severance equal to $600,000, payable over the 18-month period following the Transition Date, and (b) ASM-paid COBRA continuation coverage for up to 18 months following his termination of employment. Mr. General’s receipt of either the CIC Bonus or the severance benefits is subject to and conditioned upon his execution and non-revocation of a general release of claims and his continued compliance with any restrictive covenants.
The foregoing description of the General Transition Agreement is qualified in its entirety by reference to the full text of the General Transition Agreement, which is filed as Exhibit 10.1 to this Current Report on Form 8-K and is incorporated by reference herein.