Turtle Beach Corp Adopts Executive Severance Policy; Severance Agreement with Megan Wynne

What Happened
Turtle Beach Corporation announced on July 28–29, 2026 that it adopted a new Executive Severance Policy and entered into a separate severance agreement with Megan Wynne. The policy covers the CEO and certain other executives; the Wynne Severance Agreement specifies enhanced benefits for Ms. Wynne on a qualifying termination or resignation for Good Reason.

Key Details

• Executive Severance Policy (adopted July 28, 2026): if an eligible executive is terminated without Cause and signs a general release, they receive:
  • cash severance equal to three (3) months of annual base salary;
  • up to $3,000 reimbursement for outplacement services; and
  • employer-share COBRA premium reimbursement for up to three (3) months (subject to COBRA election and participant premium payments).
• Wynne Severance Agreement (entered July 29, 2026): if Ms. Wynne is terminated without Cause or resigns for Good Reason, she may receive:
  • monthly base salary payments for twelve (12) months, or if termination occurs within six (6) months after a Change in Control, a lump-sum equal to 1.5× her annual base salary;
  • a pro‑rata annual bonus for the fiscal year of termination based on actual results, paid with other senior exec bonuses; and
  • continued group health plan participation for up to twelve (12) months, subject to COBRA election and her copayment of premiums.
• Full text of the policy and Ms. Wynne’s agreement are filed as Exhibits 10.1 and 10.2 to the 8‑K.

Why It Matters
These actions formalize severance protections for Turtle Beach’s CEO and select executives and provide specific, potentially material payouts and health coverage continuation for Ms. Wynne on certain terminations or a Change in Control. Investors should note these updated executive compensation protections when assessing potential post-termination costs and governance practices.