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Michael Della Rocca, a director at Everus Construction Group, Inc. (NASDAQ:ECG), recently acquired additional shares in the company amid a significant three-month stock price decline. According to a recent SEC filing, Della Rocca purchased 1,050 shares of common stock on February 18 at $47.565 per share, slightly above the current trading price of $46.58. This transaction amounts to a total value of $49,943. Following this acquisition, Della Rocca now holds 2,027 shares directly in the $2.45B market cap company. This move reflects a continued investment in the company, which operates within the real estate and construction sector with moderate debt levels and strong liquidity ratios. According to InvestingPro analysis, ECG’s current price aligns closely with its Fair Value, while maintaining healthy financial metrics with a current ratio of 1.79.
In other recent news, Everus Construction Group, Inc. has implemented a Change in Control Severance Plan (CIC Plan) for its executive officers, as revealed in a recent SEC filing. This plan, effective November 21, 2024, is designed to establish compensatory arrangements for executives in the event of a company takeover. The CIC Plan applies to named executive officers, including President and CEO Jeffrey S. Thiede, and other key executives. Under this plan, if an executive’s employment is terminated without cause or for good reason within two years after a change in control, they will receive a lump sum payment. This payment includes a prorated target annual incentive for the year of termination and a cash amount of two or three times the sum of the executive’s annual salary and target incentive. Additionally, the plan covers twice the employer portion of healthcare benefit costs for 12 months and up to $10,500 for outplacement services. Eligibility for these benefits requires participants to sign a release of claims against Everus Construction and adhere to a one-year non-competition agreement. The details of this severance plan are documented in Exhibit 10.1 of the company’s 8-K filing.
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