8-KMaterial AgreementsExhibits & Filings

COCA COLA CO 8-K Report, Material Agreement (Apr 25, 2005)

Filed April 25, 2005For Securities:KO

Summary

This Form 8-K filing by The Coca-Cola Company (KO) on April 25, 2005, primarily details a material definitive agreement concerning executive compensation. Specifically, on April 19, 2005, the company awarded 50,000 shares of restricted stock to Mary E. Minnick, who holds significant executive positions including Executive Vice President and President and Chief Operating Officer, Asia. The restricted stock award is granted under the company's 1989 Restricted Stock Award Plan, as amended. The award is subject to both continued employment and specific performance measures, with net income identified as the key performance metric. This type of award is typical for retaining and incentivizing key executives, aligning their interests with those of shareholders through performance-based compensation. Investors should note the specific details of the performance metrics and vesting conditions, which are crucial for understanding the potential future value of this compensation package.

Key Highlights

  • 1The Coca-Cola Company awarded 50,000 shares of restricted stock to Executive Vice President Mary E. Minnick on April 19, 2005.
  • 2The award is part of the 1989 Restricted Stock Award Plan, as amended.
  • 3The restricted stock is subject to both continued employment and performance-based conditions.
  • 4Net income is the designated performance measure for this stock award.
  • 5The filing includes the Form of Restricted Stock Award Agreement as an exhibit (Exhibit 99.1).
  • 6This action signifies an incentive compensation strategy for a key executive.

Frequently Asked Questions

The main purpose of this 8-K filing is to disclose a material definitive agreement, specifically the grant of restricted stock to a key executive, Mary E. Minnick, as part of the company's incentive compensation program.

Mary E. Minnick, Executive Vice President of The Coca-Cola Company and President and Chief Operating Officer, Asia, received the award.

The restricted stock is subject to two main conditions: continued employment with The Coca-Cola Company and the achievement of a performance measure, which is net income.

Companies typically issue restricted stock to key executives as a form of incentive compensation. It aims to retain talent, motivate performance by linking compensation to company results (like net income in this case), and align the executive's financial interests with those of the shareholders.