Company: AWK
Filing Date: 2025-02-28
Form Type: 8-K
Source: 0001410636-25-000054
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Company: American Water Works Company, Inc.
Filing Date: 2025-02-28
Form: 8-K
Item: Item 5.02
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Item 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

(e) On February 28, 2025

The Severance Agreement provides that, once it is fully effective, Ms. Kennedy would receive (i) her eligible benefits under the Company’s Executive Severance Policy (the “ Policy”), including without limitation (a) a cash severance payment amount equal to 12 months of her current annual base salary of $487,953, minus applicable deductions and withholdings, to be paid in accordance with the Company’s regular pay schedule, (b) a prorated 2025 award opportunity under the Company’s Annual Performance Plan, equal to 65% of her annual base salary prorated through her separation date of March 1, 2025, and (c) Company-paid COBRA healthcare continuation coverage for up to 16 weeks; (ii) a supplemental cash payment of $300,000, minus applicable deductions and withholdings; and (iii) an extension for up to eight months of the Company-paid COBRA healthcare continuation coverage to be provided to her under the Policy. In exchange, the Severance Agreement provides that Ms. Kennedy would agree to a general release and certain non-solicitation, non-disparagement and confidentiality covenants in favor of the Company. The Severance Agreement is subject to mandatory review and right to rescind periods under applicable law.

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

                                     AMERICAN WATER WORKS COMPANY, INC.                            
  Dated:      February 28, 2025      By:                                     /s/ JOHN C. GRIFFITH  
                                                                             John C. Griffith      
                                                                             President