LEAR CORP
For the period ended Mar 29, 2025. Filed May 6, 2025.
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Mar 29, 2025 · Filed May 6, 2025
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Item 5. Other Information
RULE 10b5-1 TRADING PLAN
During the three months ended March 29, 2025, no director or officer of the Company adopted orterminated a "Rule 10b5-1 trading arrangement" or "non-Rule 10b5-1 trading arrangement," as each term is defined in Item 408(a) of Regulation S-K.
DEPARTURE OF OFFICER
On April 30, 2025, Lear Corporation (the "Company") and Carl A. Esposito, the Company's Senior Vice President, IDEA by Lear, agreed that Mr. Esposito would depart the Company on May 9, 2025, in connection with the Company's restructuring of certain administrative and business functions. Mr. Esposito's departure constitutes a termination without cause under the terms of his employment agreement, which was previously filed by the Company. Accordingly, subject to the execution and non-revocation of a general release agreement, Mr. Esposito will be entitled to the severance and other benefits specified in that agreement for such a termination. The Company's IDEA by Lear initiative will continue to be a key aspect of the Company's strategy and will be led within its business segments to further accelerate innovation and implementation.
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