Summary
This 8-K/A filing from PepsiCo, Inc. (PEP) provides an amendment to a previous filing, detailing the compensation arrangements for James (“Jamie”) Caulfield upon his appointment as Executive Vice President and Chief Financial Officer, effective November 30, 2023. The filing specifies his annual base salary and target incentive, offering transparency into the financial package for a key executive role. Investors can view this as confirmation of the leadership transition and the established terms for the new CFO, which are standard for such appointments.
Key Highlights
- 1James (“Jamie”) Caulfield's appointment as Executive Vice President and Chief Financial Officer is effective November 30, 2023.
- 2Mr. Caulfield's annual base salary as CFO is set at $700,000.
- 3His annual incentive target is established at 150% of his base salary.
- 4The annual incentive award for fiscal year 2023 will be prorated based on performance.
- 5Mr. Caulfield will remain eligible for PepsiCo's long-term incentive program.
- 6This filing serves as an amendment to a previous 8-K filed on November 6, 2023, confirming compensation details.
Frequently Asked Questions
This filing primarily details the compensation package for James Caulfield, the newly appointed Executive Vice President and Chief Financial Officer, including his base salary, annual incentive target, and continued eligibility for long-term incentives.
Mr. Caulfield's appointment as Executive Vice President and Chief Financial Officer is effective November 30, 2023, with an annual base salary of $700,000.
For the fiscal year ending December 30, 2023, Mr. Caulfield's annual incentive award will be prorated, and its payout will be determined by the achievement of PepsiCo's pre-established performance goals.
This filing does not directly disclose changes in financial strategy. It focuses on the compensation of the new CFO, which is a standard disclosure related to executive appointments and leadership changes.