MasterBrand: CFO departs, interim CFO appointed

What happened

• MasterBrand, Inc. announced that Andrea Simon ceased serving as the company’s chief financial officer effective Oct 23, 2026 (the Transition Date). Ms. Simon will remain employed in a non-executive advisory role through Mar 31, 2027 (the Separation Date), unless her employment ends earlier.
• The company appointed Mark A. Young, currently vice president and chief accounting officer, as interim chief financial officer effective Oct 23, 2026. The company will begin a search for a permanent chief financial officer.

Key details

• Separation agreement: MasterBrand Cabinets, LLC and Ms. Simon entered into a Separation Agreement and Release dated Oct 23, 2026.
• Advisory period pay and benefits for Ms. Simon: she will continue to receive the same base salary and health benefits in effect on the Transition Date, be eligible for a pro-rated target annual bonus for 2027 based on actual performance, and remain eligible for payment of any outstanding equity awards that vest before the Separation Date.
• Additional cash term for Ms. Simon: if she remains employed through Mar 31, 2027, she will be eligible for a cash payment equal to $165,900 as consideration for cancellation of an integration restricted stock unit award (subject to execution and non-revocation of a release of claims).
• Interim CFO compensation for Mr. Young: he will keep his $385,000 annual base salary, receive a $15,000 monthly stipend, a 30% increase in his annual bonus target (resulting in an adjusted annual bonus target equal to 80% of his base salary for the interim period), and a one-time cash retention award of $150,000 payable on the 18-month anniversary subject to continued employment.

Why it may matter

• The filing reports an Item 5.02 event (departure of an officer and appointment of an interim officer) and includes a Separation Agreement describing transition pay, severance mechanics and restrictive covenants such as post-employment non-competition, non-solicitation and confidentiality.
• The filing also includes a press release under Regulation FD disclosure. The filing does not show why the insider traded or why the company acted.