Wolverine World Wide, Inc. filed a current report on November 3, 2026, disclosing the terms of a Separation and Release Agreement with Susie Kuhn, the company's former President, Active Group, effective October 31, 2026.

Key Highlights

  • Departure date: Susie Kuhn ceased serving as President, Active Group, on September 21, 2026, as previously disclosed.
  • Agreement effective date: The Separation and Release Agreement became effective October 31, 2026.
  • Cash severance: Ms. Kuhn is to receive cash severance equal to one year of her base salary, paid in equal installments on the company's regular bi-weekly payroll schedule.
  • Non-compete period: Ms. Kuhn is restricted from competing with the company through October 31, 2027.
  • Non-solicitation period: Restrictions on soliciting or hiring the company's employees and soliciting its customers run through September 21, 2027.
  • Bonus eligibility: Ms. Kuhn is eligible for a prorated fiscal year 2026 bonus under the Amended and Restated Executive Short-Term Incentive Plan, based on actual company performance and her service during that year.
  • Health benefits: The agreement also provides for certain health care continuation benefits.

Kuhn Separation Agreement Details and Active Group Leadership Context

Wolverine World Wide (NYSE:WWW), a Michigan-based footwear company headquartered at 9341 Courtland Drive N.E., Rockford, Michigan, filed the current report under Item 5.02 of its reporting obligations, addressing the departure of a named officer. According to the filing, Ms. Kuhn's separation from the role of President, Active Group, took effect on September 21, 2026, and was previously reported in a current report filed with the Securities and Exchange Commission on that date.

The Separation and Release Agreement, described in the filing, includes a general release of claims in favor of the company. In addition to the one-year base salary severance paid bi-weekly, the agreement covers a potential cash bonus payment tied to the company's actual performance under its Amended and Restated Executive Short-Term Incentive Plan for fiscal year 2026. That bonus, if any, would be prorated to reflect Ms. Kuhn's service period during the fiscal year and would be payable on or after the time bonuses are distributed to active employees, according to the filing.

The filing states that the full text of the Agreement will be filed as an exhibit to the company's quarterly report for the period ending October 3, 2026. The filing was signed by David A. Latchana, Chief Legal Officer and Corporate Secretary, and explicitly notes that the description of the Agreement "is not complete and is qualified in its entirety by reference to the complete text of the Agreement."

What Was Disclosed

Wolverine World Wide disclosed the material terms of a Separation and Release Agreement with former President, Active Group, Susie Kuhn, effective October 31, 2026, including cash severance, a potential prorated bonus, health care continuation, and post-employment restrictive covenants.