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- Departure Of Ceo (new) — Former Chairman, President and CEO Ronald P. Erickson departed effective March 27, 2026 in connection with the divestiture of the legacy sensor business.
USBC former CEO Erickson departs following sensor business divestiture, receives $375K severance
Filed April 15, 2026 · Period ending April 9, 2026 · ~1 min read
Key Changes
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Ronald P. Erickson, former Chairman, President and CEO, concluded service on March 27, 2026 following the divestiture of the legacy sensor business. Departure was not due to any disagreement with the Company.
Item 5.02 verify on EDGAR → -
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Company will pay Erickson $375,000 severance (equal to annual base salary) in installments over one year, subject to standard release of claims and non-disparagement provisions.
Item 5.02: Separation Agreement verify on EDGAR → -
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All 167,500 unvested restricted shares previously awarded to Erickson vested immediately upon departure, consistent with equity award terms allowing acceleration upon sale of sensor IP.
Item 5.02: Equity Vesting verify on EDGAR →
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Source-verified from EDGAR · Narrative written by AI · Jun 5, 2026 · How we verify