Peabody Energy Corporation Form 8-K Filing: CEO Transition and Consulting Agreement

Peabody Energy Corporation has filed a Form 8-K detailing the upcoming retirement transition of its President and CEO, James C. Grech. Mr. Grech is approaching retirement eligibility, and the company has initiated a search for his successor. He will continue to serve as CEO until May 15, 2028, and remain on the Board of Directors until then, subject to annual election. Following this transition date, Mr. Grech will provide advisory services until May 15, 2030, under a consulting agreement. During his continued service as CEO, he will receive his current salary, incentives, and benefits, and will remain eligible for long-term incentive awards in 2026, 2027, and 2028, with vesting extending through the consulting period based on performance. As an advisor, he will receive an annual consulting fee of $1,500,000. This agreement is part of the company's succession planning and not due to any disagreements. The filing also outlines terms for early termination, severance, and other provisions related to Mr. Grech's transition, including a mutual non-disparagement clause and the conditions for the release of claims.