Summary
Cardinal Health, Inc. (CAH) filed an 8-K on December 22, 2005, reporting an amendment to its Deferred Compensation Plan. This amendment, approved by the Human Resources and Compensation Committee on December 20, 2005, modifies how deferred compensation invested in the company's common shares account is distributed. Specifically, the change permits distributions from the common shares account to be made in either cash or company common shares, removing the previous restriction of in-kind distributions only. This update to the plan, effective January 1, 2005, provides more flexibility in how executives receive their deferred compensation benefits tied to the company's stock performance.
Key Highlights
- 1Amendment to Cardinal Health's Deferred Compensation Plan approved on December 20, 2005.
- 2The amendment impacts deferred compensation amounts invested in the Company common shares account.
- 3Previously, distributions from the common shares account were restricted to in-kind (company shares only).
- 4The amendment now permits distributions to be made in either cash or company common shares.
- 5This change offers greater flexibility in the form of deferred compensation payouts for participants.
- 6The amendment is effective as of January 1, 2005.