Who is Herbert A. Allen III and what is his role at Coca-Cola?

Herbert A. Allen III has been elected as a new Director to The Coca-Cola Company's Board. He has also been appointed to serve on the Finance Committee.

How will Mr. Allen be compensated for his role as a director?

Mr. Allen will receive prorated compensation for 2021 under the Company Directors’ Plan. This includes $90,000 in cash, paid quarterly, and $200,000 in deferred share units.

Are there any conflicts of interest or related-party transactions with Mr. Allen?

According to the filing, there are no transactions in which Mr. Allen has an interest requiring disclosure under Item 404(a) of Regulation S-K. His selection was also not based on any specific arrangements with other individuals.

Does this appointment signify any major strategic shifts for Coca-Cola?

This filing specifically addresses the appointment of a new director and his committee assignment. While the addition of a director, especially to the Finance Committee, can bring new perspectives, this particular 8-K filing does not detail any immediate or significant strategic shifts. Investors should monitor future communications for potential impacts.

KO 8-K: Leadership Changes

Summary

The Coca-Cola Company announced on December 17, 2021, that it has appointed Herbert A. Allen III to its Board of Directors, increasing the board's size to 12 members. Mr. Allen has also been appointed to the Finance Committee, indicating his direct involvement in the company's financial strategy and oversight. This appointment is effective immediately following his election. Mr. Allen will be compensated according to the Company Directors’ Plan, receiving a prorated portion of the annual compensation for 2021. This compensation includes $90,000 in cash paid quarterly and $200,000 in deferred share units. Investors should note that there are no disclosed related-party transactions involving Mr. Allen, and his selection was not based on any specific arrangements with other parties.

Key Highlights

1Herbert A. Allen III elected as a new Director to the Board.
2Board size increased from 11 to 12 members.
3Mr. Allen appointed to the Finance Committee.
4Director compensation includes cash and deferred share units.
5Compensation for Mr. Allen is prorated for 2021.
6No disclosable related-party transactions for Mr. Allen.
7Mr. Allen's appointment was independent of specific arrangements.

COCA COLA CO 8-K Report, Executive Changes (Dec 20, 2021)

Summary

Key Highlights

Frequently Asked Questions