01—Abstract
Summary
Summary of the 8-K filed November 21, 2025. Cited figures are marked; the original filing is the authoritative source.
Sysco Corporation disclosed in this Current Report on Form 8-K, filed November 21, 2025, that Greg D.
Bertrand, Executive Vice President and Global Chief Operating Officer, notified the Company on November 17, 2025 of his intention to transition to a non-executive senior advisor position effective January 1, 2026, in preparation for his retirement. This is a leadership transition disclosure under Item 5.02, not a financial results announcement. Under a strategic advisor agreement effective January 1, 2026, for a period of at least nine months, Mr. Bertrand is expected to provide at least 20 hours of services per week.
His compensation includes an annual base salary of $443,500,a a one-time cash award of $250,000 payable within 30 days of the agreement's commencement subject to continued employment, continued vesting of existing equity awards subject to continued employment, and continued eligibility for certain retirement and welfare plans. He will not be eligible for bonus programs or new long-term equity awards during the advisor role, except for a pro-rated cash bonus under the Annual Incentive Plan based on base salary earned in the first half of fiscal year 2026 and Company performance.
If the Company ends the senior advisor role before September 30, 2026 for any reason other than cause, Mr. Bertrand will be relieved of work obligations but remain employed and receive compensation and benefits through September 30, 2026. The full Advisor Agreement will be filed with the Company's Form 10-Q for the quarter ended December 27, 2025.
02—Key points
Key Highlights
- Greg D. Bertrand, EVP and Global Chief Operating Officer, notified Sysco on November 17, 2025 of his intention to transition to a non-executive senior advisor role effective January 1, 2026, ahead of retirement.
- The Advisor Agreement runs for at least nine months and requires at least 20 hours of services per week.
- Annual base salary under the advisor agreement is $443,500.
- A one-time cash award of $250,000 is payable within 30 days of the agreement's commencement, subject to continued employment.
- Existing Company equity or equity-based awards continue to vest, subject to continued employment; no new long-term equity awards or bonus program eligibility during the advisor role, other than a pro-rated Annual Incentive Plan cash bonus for the first half of fiscal year 2026.
- If the Company ends the role before September 30, 2026 for reasons other than cause, Mr. Bertrand remains employed and compensated through September 30, 2026.
- The full Advisor Agreement will be filed with the Form 10-Q for the quarter ended December 27, 2025.
03—Questions
Frequently Asked Questions
Why is Greg Bertrand leaving his current role?
He notified the Company of his intention to transition to a non-executive senior advisor position effective January 1, 2026, in preparation for his retirement. He will retire at the expiration of the Advisor Agreement.
What will Mr. Bertrand be paid as senior advisor?
The agreement provides an annual base salary of $443,500 and a one-time cash award of $250,000, payable within 30 days of commencement, subject to continued employment.
Will Mr. Bertrand continue to receive equity awards or bonuses?
His existing equity or equity-based awards continue to vest, subject to continued employment. He will not be eligible for bonus programs or new long-term equity awards while serving as senior advisor, except for a pro-rated cash bonus under the Annual Incentive Plan based on base salary earned in the first half of fiscal year 2026 and Company performance.
What happens if the Company ends the advisor role early?
If the Company ends the role before September 30, 2026 for any reason other than cause, Mr. Bertrand will be relieved of work obligations but will remain employed and receive compensation and benefits through September 30, 2026.
Where can investors find the full terms of the Advisor Agreement?
The full Advisor Agreement will be filed with the Company's quarterly report on Form 10-Q for the quarter ended December 27, 2025.
04—Continue