Arq Inc.
05/01/2026 | Press release | Distributed by Public on 05/01/2026 14:56
Management Change/Compensation (Form 8-K)
| Item 5.02 | Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. |
As previously disclosed, effective March 4, 2026, Jeremy "Deke" Williamson ceased serving as the Chief Operating Officer and Jay Voncannon ceased serving as Chief Financial Officer of Arq, Inc. (the "Company") but remained employed by the Company until April 18, 2026. In connection with the termination of their employment, Messrs. Williamson and Voncannon each entered into a Separation and General Release Agreement with the Company (the "Williamson Separation Agreement" and the "Voncannon Separation Agreement," respectively, and together, the "Separation Agreements"). Each of the Separation Agreements became effective as of April 29, 2026 (the "Effective Date") after the expiration of a statutory revocation period.
Pursuant to the terms of the Williamson Separation Agreement, Mr. Williamson continued to receive his base salary and equity incentive vesting benefits, if any, through the date of termination and, as of the Effective Date, is entitled to receive the following payment and benefits in connection with his termination: (i) twelve months of Mr. Williamson's base salary at the time of his termination, or approximately $361,500, paid bi-weekly in accordance with the Company's established payroll dates; (ii) accelerated vesting of 34,270 shares of restricted stock; (iii) accelerated vesting of 49,736 performance share units with a possible vesting range of 0% to 200% based on total shareholder return as compared to the Company's established peer group to be calculated within sixty days of the Effective Date; and (iv) a lump sum payment equal to twelve months of COBRA premiums. The Williamson Separation Agreement includes a customary release of claims.
Pursuant to the terms of the Voncannon Separation Agreement, Mr. Voncannon continued to receive his base salary and equity incentive vesting benefits, if any, through the date of termination, as well as statutory COBRA benefits for a period of eighteen months and, as of the Effective Date, is entitled to the accelerated vesting of 50,000 shares of restricted stock held by Mr. Voncannon. The Voncannon Separation Agreement includes a customary release of claims.
The foregoing descriptions of the Separation Agreements are qualified in their entirety by reference to the full text of the Williamson Separation Agreement and the Voncannon Separation Agreement, attached hereto as Exhibit 10.1 and Exhibit 10.2, respectively, and each incorporated herein by reference.
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