• Middleby adopted an Executive Severance Plan on May 20, 2026 for named executive officers and other executives.
• CEO severance set at 3x base salary plus target bonus if terminated without cause; terms also apply in a change in control.
• Other named executive officers get 1x base salary plus target bonus without cause; rises to 2x within 24 months of a change in control.
• Plan adds a pro-rated annual bonus payment tied to actual performance outside a change in control; target bonus pro-rated within a change in control.
• U.S. participants can receive COBRA coverage up to 18 months for the CEO; up to 12 months for other covered executives.

Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. The Middleby Corporation published the original content used to generate this news brief via EDGAR, the Electronic Data Gathering, Analysis, and Retrieval system operated by the U.S. Securities and Exchange Commission (Ref. ID: 0001193125-26-239449), on May 26, 2026, and is solely responsible for the information contained therein.