KEMPER Corp 8-K

What Happened
Kemper Corporation filed an 8‑K (Dec 19, 2025) reporting that Duane A. Sanders — formerly Executive Vice President and Chief Claims Officer, P&C — departed that operational role effective October 22, 2025 and will serve as Executive Vice President, Executive Advisor through December 31, 2025. The company terminated Mr. Sanders without cause and on December 16, 2025 entered into a Separation and Release Agreement that provides certain severance and continued benefits.

Key Details

• Separation and Release Agreement dated December 16, 2025; termination characterized as without cause.
• Cash severance: one-and-one-half times the sum of Mr. Sanders’ base salary and target bonus — total payment of $2,025,000.
• Continued eligibility for a 2025 annual bonus based on service through December 31, 2025; payout tied to actual achievement of performance goals.
• Additional benefits: employer reimbursement for continued healthcare coverage for 18 months and 12 months of financial planning services.
• Equity treatment: Mr. Sanders meets retirement-vesting requirements for certain outstanding awards, so those awards will remain outstanding and continue to vest per their terms, subject to his compliance with restrictive covenants (non‑competition, non‑solicitation, standstill) and the award agreements.

Why It Matters
This item documents a material executive change and the related cash and non‑cash obligations. Investors should note the one‑time severance and benefit commitments (cash severance and health/benefit reimbursements) and the continued vesting of equity awards, which affect near‑term compensation expense and long‑term equity dilution. The restrictive covenants may limit Mr. Sanders’ ability to compete or solicit after departure, and his advisor role through year‑end may support transition in claims leadership.