8-KLeadership ChangesExhibits & Filings

CORPAY, INC. 8-K Report, Executive Changes (Jun 10, 2025)

Filed June 10, 2025For Securities:CPAY

Summary

Corpay, Inc. (CPAY) announced a significant executive change, appointing Peter Walker as its new Chief Financial Officer (CFO), effective July 21, 2025. Walker brings a wealth of experience, having previously served as CFO for Instructure Holdings, Sterling Check Corp, and Jackson Hewitt, with a substantial career at Assurant. His background includes leading major financial events such as the privatization of Instructure and extensive experience in finance, accounting, and strategy. This appointment is accompanied by a comprehensive compensation package designed to incentivize performance, including a base salary, target bonus, and substantial equity grants in the form of performance-based and time-based restricted stock and stock options. The equity awards are structured with various vesting schedules tied to company performance and continued service. The filing also notes that interim CFO Alissa Vickery will resume her role as Chief Accounting Officer upon Walker's start date.

Key Highlights

  • 1Peter Walker appointed as new Chief Financial Officer (CFO), effective July 21, 2025.
  • 2Walker has a strong financial leadership background, including previous CFO roles at Instructure Holdings, Sterling Check Corp, and Jackson Hewitt.
  • 3Walker's compensation includes a base salary of $600,000 and a target bonus of 66.67% of base salary.
  • 4Significant equity grants awarded to Walker, comprising performance-based and time-based restricted stock and stock options with various vesting conditions.
  • 5Performance-based equity grants are tied to 2025, 2026, 2027, and 2028 performance metrics.
  • 6Time-based equity grants vest over 1, 3, or 4 years.
  • 7Alissa Vickery will transition from interim CFO back to her role as Chief Accounting Officer.

Frequently Asked Questions

The primary reason for this 8-K filing is to announce the appointment of Peter Walker as the new Chief Financial Officer (CFO) of Corpay, Inc., and to detail his compensation package.

Peter Walker's appointment as CFO is effective July 21, 2025.

The total grant date fair value of Peter Walker's equity awards is approximately $7,215,360. This includes performance-based restricted stock ($1,240,000 + $360,000), time-based restricted stock ($600,000 + $1,000,000), time-based stock options ($1,200,000), and performance-based stock options ($3,875,360). His annual base salary is $600,000 with a target bonus of 66.67%.

The performance-based equity grants are designed to align Mr. Walker's compensation with Corpay's future financial performance. These grants will vest upon the achievement of specific performance metrics for the years 2025 through 2028, and require continued service.