8-KLeadership ChangesRegulation FDExhibits & Filings

Cencora, Inc. 8-K Report, Executive Changes (Aug 15, 2024)

Filed August 15, 2024For Securities:COR

Summary

Cencora, Inc. (COR) announced in an 8-K filing dated August 15, 2024, that Frank Clyburn has been appointed to its Board of Directors, effective October 1, 2024. This appointment, along with a previously disclosed appointment of Robert P. Mauch, will increase the size of the Board from eleven to thirteen members. Mr. Clyburn will receive compensation consistent with other non-employee directors, pro-rated for his tenure until the 2025 Annual Meeting of Stockholders. Investors should note that this filing is primarily an informational update regarding board composition and does not contain significant financial performance data or strategic operational changes. The appointment of new directors is a standard governance update that aims to strengthen the board's expertise and oversight. There are no disclosed related-party transactions or specific arrangements with Mr. Clyburn that would require further disclosure.

Key Highlights

  • 1Appointment of Frank Clyburn to the Board of Directors, effective October 1, 2024.
  • 2Board size will increase from eleven to thirteen members.
  • 3Robert P. Mauch also appointed to the Board, effective October 1, 2024.
  • 4Mr. Clyburn will receive standard compensation for non-employee directors.
  • 5Compensation will be pro-rated for the period from the effective date to the 2025 Annual Meeting.
  • 6No disclosed arrangements, understandings, or related-party transactions involving Mr. Clyburn.
  • 7Filing includes a news release announcing the director appointment.

Frequently Asked Questions

Frank Clyburn has been appointed to Cencora's Board of Directors. The filing does not provide specific details on his background or the strategic rationale for his appointment beyond standard board expansion. However, such appointments typically aim to bring new expertise and perspectives to the board.

The increase in the Board of Directors from eleven to thirteen members, along with the appointments of Frank Clyburn and Robert P. Mauch, will be effective as of October 1, 2024.

Mr. Clyburn will receive the same compensation as other non-employee directors, which includes an annual equity award. This compensation will be pro-rated for the period from October 1, 2024, until the Company's 2025 Annual Meeting of Stockholders.

According to the filing, there are no disclosed arrangements or understandings between Mr. Clyburn and any other persons regarding his appointment. Furthermore, there are no family relationships with current directors or officers, and no transactions requiring disclosure under Item 404(a) of Regulation S-K have been identified.