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  "documentTitle": "Generac Holdings, Inc. (GNRC)",
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      "text": "Spruce Point rarely sees companies modify their initial clawback policy. However, Generac expanded the policy recently in March 2022 to cover management “gross negligence” or “misconduct resulting in violation of law or company policy” that causes harm to the firm.",
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      "text": "Effective April 2019, the Company adopted a formal “clawback” policy applicable to annual and long-term incentive awards made to the CEO, CFO and any other key member of executive management as identified by the Board or CEO. Under this policy, the Company may seek to recoup incentive compensation paid to covered employees to the extent that such compensation was granted, vested, or earned based on financial results that the Company is required to restate as a result of material noncompliance with any financial reporting requirement under federal securities laws. In March 2022, the Company expanded the policy to allow recoupment of incentive compensation paid in the event of gross negligence in performance or misconduct resulting in a violation of law or Company policy, where such acts resulted in significant financial or reputational harm to the Company. — 2022 Proxy Statement",
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