8-KLeadership ChangesOther EventsExhibits & Filings

COSTCO WHOLESALE CORP /NEW 8-K Report, Executive Changes (Oct 31, 2017)

Filed October 31, 2017For Securities:COST

Summary

Costco Wholesale Corporation (COST) filed an 8-K on October 30, 2017, primarily announcing two key developments for investors. The Compensation Committee approved the fiscal year 2018 performance criteria for executive bonuses. These bonuses are tied to specific targets related to pre-tax income and operational performance relevant to each executive's role, with individual bonus amounts capped at $200,000 and subject to CEO recommendation and Committee approval. Additionally, the Board of Directors declared a quarterly cash dividend of $0.50 per share. This dividend is scheduled to be paid on December 1, 2017, to shareholders of record as of November 17, 2017. These announcements provide insight into executive compensation structure and the company's commitment to returning capital to shareholders through dividends.

Key Highlights

  • 1Fiscal 2018 performance criteria for executive bonuses have been approved by the Compensation Committee.
  • 2Executive bonuses are contingent on achieving pre-tax income and operational targets.
  • 3Individual executive bonuses are capped at $200,000.
  • 4Bonus recommendations require CEO input and final approval from the Compensation Committee.
  • 5A quarterly cash dividend of $0.50 per share has been declared.
  • 6The dividend payment date is December 1, 2017.
  • 7Shareholders of record as of November 17, 2017, will receive the dividend.

Frequently Asked Questions

This 8-K filing announces the approval of fiscal year 2018 executive bonus performance criteria and the declaration of a quarterly cash dividend.

Executive bonuses will be based on the achievement of specified targets related to pre-tax income and operational characteristics relevant to each executive's area of responsibility. The maximum bonus for an individual is $200,000, subject to CEO recommendation and Compensation Committee approval.

The Board of Directors declared a quarterly cash dividend of $0.50 per share. This dividend is payable on December 1, 2017, to shareholders who are of record as of the close of business on November 17, 2017.

No, this filing does not report any departures, elections, or appointments of directors or principal officers. The primary items concern executive compensation criteria and dividend declaration.