Rocket Pharmaceuticals adopts new severance program, signs executive employment deals

Rocket Pharmaceuticals disclosed in an 8-K dated August 21, 2026 that its board adopted a Severance and Change in Control Program¹ that day. The program provides severance benefits to eligible employees of the Company, including its executive officers, in connection with certain qualifying terminations of employment, including terminations occurring in connection with a change in control of the Company¹.

Eligibility is limited: all Rocket employees in the United States who are not covered by another agreement or arrangement with the Company that provides for severance benefits are eligible under the Program, provided that to be eligible for severance benefits not associated with a Change in Control, employees must have been employed at Rocket for at least one year¹.

Under the standard (non-change-in-control) termination scenario, the CEO would receive fifteen months of base salary and health care allowance continuation, Section 16 executive leadership team members twelve months, non-Section 16 ELT members and senior vice presidents nine months, vice presidents six months, directors three months, and senior managers and below two months¹. In a change-in-control scenario, the CEO would receive eighteen months of base salary and benefits plus target bonus payments, with other tiers receiving between three and twelve months depending on level¹.

Separately, the company entered new employment agreements. Under his agreement, Dr. Shah is entitled to an annual base salary of $674,856 and a target annual incentive bonus equal to 60% of his base salary¹, with severance of 15 months of base salary, prior-year bonus, and 15 months of COBRA premiums¹ for a termination without cause, rising to 18 months of salary and target bonus payments if the termination follows a change in control within 12 months¹.

Martin Wilson's agreement sets an annual base salary of $547,313 and a target bonus equal to 45% of his base salary¹, with similar 12-month severance terms detailed in the filing. The company also amended Chief Operating Officer Christopher Stevens' employment agreement, adjusting his severance terms as described in the filing.