Advantage Solutions Inc. filed a current report on Form 8-K on November 2, 2026, disclosing that on October 30, 2026, the company entered into amended and restated employment agreements with its Chief Executive Officer, Chief Financial Officer, and two Chief Operating Officers, adding or expanding change-in-control severance protections for each.

Key Highlights

  • CEO David Peacock received a Second Amended and Restated Employment Agreement entitling him, upon a Change in Control Qualifying Termination, to a lump sum equal to two times his target annual bonus and 100% accelerated vesting of all outstanding time-based equity awards.
  • CFO Christopher Growe and COO Jeffrey Harsh each received amended agreements providing, upon a Change in Control Qualifying Termination, 18 months of base salary continuation, 18 months of employer-paid COBRA, a lump sum equal to 1.5 times target annual bonus, and 100% accelerated vesting of time-based equity awards with an 18-month post-termination option exercise period.
  • COO Michael Taylor received an amended agreement extending his employer-paid COBRA coverage from nine months to 12 months after a Qualifying Termination, and adding change-in-control benefits including 1.5 times base salary and target annual bonus payable over 18 months, a pro-rated annual bonus, 18 months of COBRA, outplacement services, and 100% accelerated vesting of time-based equity awards.
  • Pre-Effective Date equity awards are subject to additional conditions: executives receive accelerated vesting benefits only if the Qualifying Termination occurs within 24 months following a Change in Control.
  • Harsh's agreement also separately provides employer-paid COBRA coverage for 12 months following a standard Qualifying Termination.
  • All four agreements are dated October 30, 2026, and are filed as Exhibits 10.1 through 10.4 to the current report.

Amended Employment Agreements Expand Change-in-Control Protections at Advantage Solutions

According to the filing, Advantage Solutions Inc. (NASDAQ:ADV) executed amended employment agreements with four named executive officers on October 30, 2026. The company disclosed that the amendments add Change in Control Qualifying Termination benefits on top of each executive's existing severance arrangements, rather than replacing them. The filing defines a "Change in Control Qualifying Termination" as either a termination without cause or resignation for good reason occurring within 24 months after a change in control, or a qualifying termination occurring within six months before a change in control if it is connected to a potential change-in-control transaction and not attributable to unrelated reasons such as poor performance, restructuring, or position elimination.

For CEO David Peacock, the new provisions add a lump sum equal to two times his target annual bonus and full acceleration of outstanding time-based equity awards in the event of such a termination. CFO Christopher Growe and COO Jeffrey Harsh each gain 18 months of base salary continuation, 18 months of employer-paid COBRA, 1.5 times their target annual bonus as a lump sum, and full time-based equity award acceleration with an 18-month post-termination exercise window for stock options. The filing also notes that the Harsh agreement separately provides 12 months of employer-paid COBRA following a standard Qualifying Termination.

COO Michael Taylor's amended agreement, the filing states, extends his COBRA coverage from nine to 12 months for a standard Qualifying Termination and, for a Change in Control Qualifying Termination, provides a combined 1.5 times base salary and target annual bonus paid over 18 months, a pro-rated annual bonus based on actual results, 18 months of COBRA, outplacement services, and full acceleration of outstanding time-based equity awards with an 18-month option exercise period. The filing notes that certain portions of the Harsh and Taylor agreements have been redacted as confidential under Item 601(b)(10) of Regulation S-K.

What Was Disclosed

Advantage Solutions disclosed amended employment agreements with four senior executives on October 30, 2026, adding change-in-control severance benefits including bonus payments, extended COBRA coverage, and accelerated equity vesting, alongside modifications to existing Qualifying Termination terms.