01—Abstract
Summary
Summary of the 8-K filed April 6, 2026. Cited figures are marked; the original filing is the authoritative source.
STERIS plc (STE) filed a Current Report on Form 8-K dated April 6, 2026, under Item 5.02 (Departure of Directors or Certain Officers; Compensatory Arrangements of Certain Officers).
The filing reports that on March 31, 2026, the Company and Michael J. Tokich, its former Chief Financial Officer, entered into an amendment to his Transition Agreement dated August 5, 2025. The Transition Agreement governs compensation and benefits Mr. Tokich receives for his post-executive employment with the Company.
Under the amendment, Mr. Tokich will continue as a senior financial advisor on a part-time basis from April 1, 2026 through March 31, 2027 (the "Extended Advisor Period"). During that period his annual base salary will be reduced to $60,000,a and he will be eligible for a cash bonus at the discretion of the Chief Executive Officer, subject to approval by the Compensation and Organization Development Committee. He will no longer be entitled to health and dental plan benefits or to life insurance, vacation, disability, or other employee benefit plans or programs.
All other terms of the Transition Agreement remain in effect through the Extended Advisor Period. For investors, the filing is a limited executive-compensation disclosure rather than a change in company operations or financial results. It documents the terms of a former CFO's continuing advisory role and the reduced compensation package that applies during that role.
02—Key points
Key Highlights
- Former CFO Michael J. Tokich's Transition Agreement with STERIS plc was amended on March 31, 2026.
- Mr. Tokich will serve as a senior financial advisor on a part-time basis from April 1, 2026 through March 31, 2027.
- His annual base salary during the Extended Advisor Period will be reduced to $60,000.
- He will be eligible for a cash bonus at the discretion of the CEO, subject to Compensation and Organization Development Committee approval.
- He will no longer be entitled to health and dental plan benefits or to life insurance, vacation, disability, or other employee benefit plans or programs.
- All other terms of the original August 5, 2025 Transition Agreement remain in effect through the Extended Advisor Period.
03—Questions
Frequently Asked Questions
What changed in the Transition Agreement with former CFO Michael J. Tokich?
The March 31, 2026 amendment extended Mr. Tokich's employment as a part-time senior financial advisor from April 1, 2026 through March 31, 2027, reduced his annual base salary to $60,000, and removed his eligibility for health, dental, life insurance, vacation, disability, and other employee benefit plans or programs.
Will Mr. Tokich be eligible for any bonus during the advisory period?
He will be eligible for a cash bonus during the Extended Advisor Period, but the award is at the discretion of the Chief Executive Officer and subject to approval by the Compensation and Organization Development Committee.
Does the filing report any change to STERIS's financial results or operations?
No. The filing addresses only the compensation and employment terms of a former executive's transition arrangement and does not report financial results, operational changes, or other corporate developments.
How long does the amended advisory arrangement last?
The Extended Advisor Period runs from April 1, 2026 through March 31, 2027.
04—Continue