Cable One, Inc. 8-K/A

What Happened
Cable One, Inc. filed an 8-K reporting that Kenneth E. Johnson will step down from his role as Chief Operating Officer effective May 1, 2026 (the Transition Date). He will remain employed as a senior advisor through his Separation Date on January 3, 2027. The company said his departure is not the result of any disagreement with the company regarding operations, policies, controls, or financial/accounting matters. The Transition Agreement and General Release of Claims dated April 20, 2026 is attached as Exhibit 10.1.

Key Details

• Johnson’s COO duties end May 1, 2026; employment continues through January 3, 2027 as senior advisor.
• Through the Separation Date he will receive base salary at an annualized rate of $246,000.
• Subject to signing and not revoking a release and plan terms, severance benefits on Separation Date include: (a) a lump-sum equal to 18 months of base salary (18 months of $246,000 = $369,000 based on the stated annualized rate); (b) accelerated vesting of any unvested long‑term equity awards granted before Jan 1, 2026; (c) a lump-sum equal to his target 2026 cash incentive; and (d) a lump-sum equal to 18 times the monthly COBRA premium in effect at separation.
• His separation will meet the requirements to be treated as a “Retirement” for his 2026 cash‑settled phantom RSU awards, subject to the awards’ terms. The agreement also includes customary restrictive covenants and reference to the company’s Clawback Policy.

Why It Matters
This is a material executive change (Item 5.02) that may affect management continuity and compensation expense. The severance and accelerated equity vesting could result in near‑term cash payouts and accelerated stock‑based expense reported by the company. Investors should note the company’s explicit statement that the departure was not due to any operational or financial disagreements, which reduces certain governance concerns. The full Transition Agreement is filed as Exhibit 10.1 for further detail.