Summary
This 8-K/A filing from McKesson Corporation (MCK) provides an amendment to a previous report detailing the compensation arrangements for its newly appointed Executive Vice President and Chief Financial Officer, Britt Vitalone, effective January 1, 2018. The amendment clarifies the specifics of Mr. Vitalone's compensation package, which was not fully detailed in the initial report. Key components of Mr. Vitalone's compensation include an annual base salary of $750,000, a target annual bonus opportunity of 100% of his salary, and a one-time recognition bonus of $500,000. He will also continue to participate in various executive benefit plans, including severance and change-in-control policies, as well as general company benefits. This information is crucial for investors seeking transparency into executive remuneration and its potential impact on the company's financial health.
Key Highlights
- 1Britt Vitalone's compensation package as EVP and CFO has been finalized.
- 2Annual base salary for Mr. Vitalone is set at $750,000.
- 3Target annual bonus opportunity is 100% of his salary.
- 4A one-time bonus of $500,000 has been approved for Mr. Vitalone.
- 5Mr. Vitalone remains eligible for various executive benefit plans, including severance and change-in-control policies.
- 6He will also continue to receive general employee benefits and specific executive perks like financial counseling and travel services.
- 7The compensation details are an amendment to a prior 8-K filing from December 18, 2017.