Summary
This filing is an amendment to a previous 8-K report by AmerisourceBergen Corporation (now Cencora, Inc.) to disclose the finalized compensation for Robert P. Mauch, who was appointed Executive Vice President and Chief Operating Officer on November 2, 2022. The amendment provides specific details on his increased base salary, long-term incentive award target, and short-term cash incentive bonus opportunity for fiscal year 2023. Investors should note that Mr. Mauch's annual base salary will increase to $975,000 from $850,000. His target long-term incentive award for fiscal year 2023 is set at $5.0 million, and his short-term cash incentive bonus opportunity is 125% of his base salary. These compensation adjustments are effective in connection with his COO appointment and do not alter his existing employment agreement. He will continue to be eligible for existing senior management benefit plans.
Key Highlights
- 1Amendment provides finalized compensation details for Robert P. Mauch, the new Executive Vice President and Chief Operating Officer.
- 2Mr. Mauch's annual base salary for FY2023 has been increased to $975,000 from $850,000 (FY2022).
- 3Target long-term incentive award for Mr. Mauch in fiscal year 2023 is $5.0 million.
- 4Short-term cash incentive bonus opportunity for Mr. Mauch is set at 125% of his base salary.
- 5No changes were made to Mr. Mauch's existing employment agreement.
- 6Mr. Mauch remains eligible for existing company benefit plans and executive benefits.