Modine Adopts New Severance Plan for CFO Lucareli and General Counsel Roth, Amends CEO Brinker's Terms

Modine Manufacturing Company adopted a new executive severance plan for Executive Vice President and Chief Financial Officer Michael B. Lucareli and Vice President, General Counsel, Corporate Secretary and Chief Compliance Officer Erin J. Roth, and amended President and Chief Executive Officer Neil D. Brinker's severance arrangements, TradingView reported. The changes took effect in October 2026.

Lucareli and Roth Join Modine's New Severance Plan

Modine Manufacturing Company named Lucareli and Roth participants in the new Executive Severance Plan, effective October 21, 2026. For Lucareli, a qualifying termination carries cash severance of 1.5x salary plus target bonus, or 2.5x following a change in control, with COBRA premiums for up to 18 months. His prior Change in Control and Termination Agreement was terminated.

Roth's coverage under the Supplemental Severance Plan was replaced by the new plan. Her qualifying-termination cash severance is 1.0x salary plus target bonus, or 2.0x following a change in control, with COBRA premiums for up to 12 months, or up to 18 months after a change in control.

Brinker's amendments to his offer letter and Change in Control Agreement took effect October 22, 2026. His non-change-in-control severance is 2x salary plus target bonus, and his change-in-control severance is 3x salary plus the greater of target or average recent bonus. The amendments to his outstanding performance stock and restricted stock unit awards, approved October 21-22 and October 27, 2026, provide enhanced change-in-control performance treatment and expand the definition of "good reason." Modine said the severance arrangements were reviewed to align with current market standards.

Modine's Data Center Segment and Leadership

According to akta.pro company records, Modine created a dedicated Data Centers segment in April 2026 and promoted Art Laszlo, formerly vice president and general manager of liquid-cooled applications and previously at IDEX, to president of the new segment. The same records list Brinker as president and chief executive officer, Lucareli as executive vice president and chief financial officer, Eric S. McGinnis as president of Climate Solutions and Laszlo as president of Data Centers.

Modine's Spin-Off and Plant Expansion

Modine completed the spin-off of its Performance Technologies business and its combination with Gentherm via a Reverse Morris Trust transaction, PR Newswire reported on October 1, 2026. Modine shareholders received 0.44619 Gentherm shares per Modine share, and Modine received about $156 million in cash to repay debt.

Achrnews reported on October 2, 2026 that Modine is expanding its Jacksonville, Texas coatings facility with a fully automated microchannel electrodeposition coating line, doubling the plant's microchannel coating capacity. Stock Titan reported on September 23, 2026 that Modine is hiring up to 300 workers in Franklin, Wisconsin, to support its data center cooling business, with a hiring fair on September 24.