Corteva 8-K, filed Sep 10, 2026

Summary

Corteva, EIDP, DuPont, and Chemours reached a settlement with the State of North Carolina and several counties, towns, and a water authority resolving statewide PFAS claims and claims tied to the Fayetteville Works site, under which the companies will collectively pay $455 million over 15 years, with Corteva's share approximately $66 million. Corteva and DuPont will guarantee Chemours' share of the payments on a 29%/71% basis and must establish a reserve fund capped at $135 million that North Carolina may access if Chemours does not comply with its 2019 consent order with the state's Department of Environmental Quality.

Key points

• The settlement covers PFAS claims brought by the State of North Carolina through its Attorney General and by Bladen, Brunswick, Columbus, Cumberland, New Hanover, Robeson, and Sampson counties, the Town of Wrightsville Beach, the City of Lumberton, the Village of Bald Head Island, and the Lower Cape Fear Water and Sewer Authority.
• $455 million is to be paid collectively over 15 years, with Corteva's share approximately $66 million.
• For the January 2021 Memorandum of Understanding among Chemours, DuPont, Corteva, and EIDP, the North Carolina settlement payments apply $210 million against the $4 billion aggregate qualified spend cap, reflecting net present value spread over 25 years at an 8% discount rate.
• Future contributions to the MOU Escrow Account are considered satisfied by the New Jersey and North Carolina settlement payments, and the same net present value methodology is agreed for potential future settlements with multi-year payments.

Written by an AI model from the filing text. It can be incomplete or wrong; the filing on SEC.gov is the record.