Former Armstrong Execs Seeking $4.5M in Severance & Unpaid Benefits
Lancaster, PA, August 29, 2022-Former Armstrong Flooring executives say they are owed more than $4.5 million for unpaid earned vacation, severance and deferred retirement contributions, reports Lancaster Online.
“President and CEO Michel Vermette, chief financial officer Amy Trojanowski, general counsel and chief compliance officer Christopher Parisi, human resources director John Bassett, vice president Scott Hess and senior vice president and controller Philip Gaudreau filed separate claims in Delaware bankruptcy court.
“The claims come on top of the $4.8 million early payment of their annual incentives disclosed in court and Security and Exchange Commission filings in May. The incentive payments, a portion of which they would get for a full year, were made in the first quarter of the year, as LancasterOnline has previously reported. Such bonuses are typically handed out at year’s end and based on whether the company reached certain sales or revenue targets. The bonuses were predicated on the lower target levels.”
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