Summary
Dollar Tree, Inc. has officially formalized the compensation and employment terms for its newly appointed Chief Executive Officer, Michael C. Creedon, Jr. This 8-K filing details significant adjustments to Mr. Creedon's remuneration, reflecting the responsibilities of his CEO role. Key changes include an increased annual base salary and a higher target for his annual incentive compensation, signaling the company's commitment and investment in its top leadership position. Furthermore, the filing outlines the expected long-term incentive awards for Mr. Creedon in fiscal year 2025, aligning his compensation with the broader executive compensation framework and performance objectives of the company. This comprehensive agreement replaces his prior executive contract, providing clarity and structure for his tenure as CEO and underscoring the board's confidence in his leadership to guide Dollar Tree's strategic direction.
Key Highlights
- 1Michael C. Creedon, Jr. has entered into a revised executive agreement as Chief Executive Officer of Dollar Tree, Inc.
- 2Mr. Creedon's annual base salary has been increased to $1,300,000.
- 3His target annual incentive opportunity has been raised to 150% of his base salary.
- 4He is expected to receive annual long-term incentive awards valued at $9,000,000 for fiscal year 2025.
- 5These new terms supersede and replace his previous executive agreement.
- 6The compensation adjustments are commensurate with the company's 2025 executive compensation program.