Summary
This 8-K/A filing from PACCAR Inc (PCAR) is an amendment to a previous 8-K report filed in April 2017. The primary purpose of this amendment is to formally disclose the Board of Directors' approval of the stockholder vote concerning the frequency of advisory votes on executive compensation. This addresses a procedural update stemming from the company's Annual Meeting. Investors should note that the Board of Directors has officially approved the three-year interval for "say on pay" votes, as previously indicated by stockholder results. Consequently, the next advisory vote on executive compensation will be in 2020, and the subsequent vote on the frequency of these advisory votes will be in 2023. This filing is procedural and does not introduce new financial information or operational updates beyond this governance matter.
Key Highlights
- 1Amendment to a previous 8-K filing dated April 28, 2017.
- 2The sole purpose of this filing is to disclose the Board's approval of the stockholder vote on executive compensation frequency.
- 3Stockholders previously voted in favor of a three-year interval for advisory votes on executive compensation.
- 4The PACCAR Board of Directors has formally approved the three-year interval.
- 5The next advisory vote on executive compensation ('say on pay') is scheduled for the 2020 Annual Meeting.
- 6The next advisory vote on the frequency of executive compensation review is scheduled for the 2023 Annual Meeting.
- 7This filing is procedural and does not contain new financial or operational disclosures.