COTY INC. 8-K filed 2026-09-11

COTY INC. (ticker COTY on the NYSE) filed an 8-K on 2026-09-11 under Item 5.02, which covers officer departures, appointments and compensatory arrangements. The filing sets out the terms under which Laurent Mercier leaves the Chief Financial Officer role. It describes Soraya Benchikh's appointment as CFO as previously announced; her start date and pay terms are not in the filing. Mr. Mercier ceased serving as CFO on September 1, 2026 and became Strategic CEO Advisor through June 30, 2027, which the company calls the Transition End Date. Under a Transition Agreement, he keeps his annual base salary of €825,000 through that date. He will assist with the handover during September and October 2026, and beginning November 1, 2026 he will be released from active duties while remaining available for advisory work. At his option, the Transition End Date can be moved up to a date no earlier than December 20, 2026, in which case he would receive a lump-sum payment equal to the salary otherwise payable through June 30, 2027. For compensation analysis, the relevant terms are these. He is not eligible for any annual bonus or variable compensation for fiscal years 2026 or 2027 other than a fixed one-time bonus of €290,000. Equity awards scheduled to vest in October 2026 remain eligible to vest, and any awards still unvested after the Transition End Date will be forfeited. He will be bound by a twelve-month non-competition covenant after the Transition End Date and will receive the related contractual non-competition payments, as well as applicable contractual and collective bargaining severance benefits. The filing does not give the size of the non-competition payments, the severance benefits, or the October 2026 equity awards. It also does not state a reason for the leadership change. The Transition Agreement itself is not attached. The company says it will be filed as an exhibit to its Form 10-Q for the period ending September 30, 2026, so readers wanting the full terms will need that later filing. The only exhibit listed here is the cover page interactive data file. The 8-K was signed by Kristin Blazewicz, Chief Legal Officer, General Counsel and Secretary.