Masco Corporation (NYSE: MAS) announced that Jai Shah, Group President of Plumbing and Wellness, will conclude his service with the company on July 3, 2026.

The company entered into a separation agreement with Shah dated April 16, 2026, which outlines his compensation package following his departure. Under the agreement, Shah will receive a cash payment of $1,206,000.

Shah will also receive his 2026 cash bonus based on his individual target opportunity and the company's 2026 annual performance, prorated through his last day of employment. He will receive payment of the cash equivalent of an annual restricted stock unit award based on his individual target opportunity, also prorated through his employment end date.

The executive will be eligible for a share award under the 2024-2026 Long-Term Incentive Program if established performance goals are met, with the award prorated to reflect his employment time during the performance period.

Additionally, Shah will receive a cash payment equal to the value of remaining unvested restricted stock units under a retention incentive agreement the company entered into with him on March 5, 2025. This payment will be based on the company's closing stock price on March 6, 2027.

Under the April 16 agreement, Shah has forfeited the remaining unvested restricted stock units under the retention incentive agreement and is not entitled to receive them.

The information was disclosed in a company statement.