🎈 Up Big Today: Find today's biggest gainers with our free screenerTry Stock Screener

Olin Corp amends executive retention agreement

Published 11/12/2024, 09:04 am
OLN
-

In a recent Securities and Exchange Commission filing, Olin Corporation (NYSE:OLN), a company specializing in chemicals and allied products, disclosed an amendment to the retention agreement with Dana C. O’Brien, its Senior Vice President and Chief Legal Officer. The amendment, effective as of last Thursday, modifies the terms of Ms. O’Brien's retention payments in anticipation of her retirement.

The original agreement, dated December 20, 2023, stipulated that O’Brien’s retention payments were dependent on her continued employment through each vesting period. However, with plans to retire by the end of 2025 and to step down from her current role by March 1, 2025, the amended agreement now allows for her retention benefits to vest as scheduled if she remains continuously employed through July 31, 2025.

This arrangement is designed to support a smooth transition for her successor and requires O’Brien to be available to the company until December 31, 2025.

Olin Corporation, headquartered in Clayton, Missouri, operates under the SIC category Chemicals & Allied Products and is incorporated in Virginia. The company's shares are traded on the New York Stock Exchange under the ticker symbol OLN.

In other recent news, Olin Corporation has been experiencing a series of developments. The company has reported weaker than expected earnings for the second half of 2024, mainly due to hurricane-related disruptions costing the company about $135 million. Despite these challenges, Olin's chemical segment exceeded expectations due to an increase in caustic soda prices.

In contrast, the Winchester segment saw a downturn in commercial ammunition sales. Analysts from firms such as Piper Sandler, RBC Capital, and KeyBanc Capital Markets have revised their price targets for Olin, attributing the adjustments to a lower earnings forecast for 2025.

In addition, The Chemours Company (NYSE:CC) has announced plans to construct a chlor-alkali production facility, which could introduce additional competition within the market for chlor-alkali products, potentially impacting Olin.

Another significant development is the change in Olin's executive leadership, with Dana O’Brien, Senior Vice President and Chief Legal Officer, announcing her retirement, and Angela M. Castle set to succeed her.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.