01—Abstract
Summary
Summary of the 8-K filed September 5, 2025. Cited figures are marked; the original filing is the authoritative source.
Tyson Foods, Inc. filed this Form 8-K on September 5, 2025 under Item 5.02 to report executive leadership changes.
Effective September 2, 2025, the company appointed Devin Cole as Chief Operating Officer, reporting to Donnie King, President and Chief Executive Officer, with responsibility over all business segments. Mr. Cole, 55, previously served as Group President, Poultry & Global Business Unit since March 2025, and had earlier held roles as President, International & Global McDonald's and President, Global McDonald's. He was also employed by the company from 1995 to 2014 and most recently served as Chief Operating Officer at George's Inc. before returning to Tyson in 2024.
In connection with the appointment, Mr. Cole's annual base salary was increased to $1,350,000,a and his target annual incentive award was increased to 160% of base salary. He received a one-time restricted stock unit grant with a fair market value of $172,000, vesting in equal installments over three years. His target annual long-term incentive award is $5,900,000, weighted 25% stock options, 25% restricted stock units, and 50% performance stock.
The filing also reports that Brady Stewart, Group President, Prepared Foods, Beef & Pork and Chief Supply Chain Officer, departed the company effective September 2, 2025. Under a release-of-claims agreement, Mr. Stewart will receive separation benefits under the Executive Severance Plan, including pro-rated long-term incentive vesting, a pro-rated annual incentive payment for the current fiscal year, and a payment equal to two times his annual base salary paid in installments over 24 months. The agreement will be filed as an exhibit to the Form 10-K for the fiscal year ending September 27, 2025.
02—Key points
Key Highlights
- Devin Cole appointed Chief Operating Officer effective September 2, 2025, with responsibility over all business segments and reporting to CEO Donnie King
- Mr. Cole's base salary increased to $1,350,000 and target annual incentive raised to 160% of base salary
- One-time restricted stock unit grant to Mr. Cole valued at $172,000 on grant date, vesting equally over three years
- Target annual long-term incentive award for Mr. Cole set at $5,900,000, weighted 25% stock options, 25% restricted stock units and 50% performance stock
- Brady Stewart, Group President, Prepared Foods, Beef & Pork and Chief Supply Chain Officer, departed effective September 2, 2025
- Mr. Stewart's separation package includes pro-rated long-term incentive vesting, pro-rated annual incentive payment, and a payment of two times annual base salary paid over 24 months, subject to a release of claims
- Stewart separation agreement to be filed as an exhibit to the Form 10-K for fiscal year ending September 27, 2025
03—Questions
Frequently Asked Questions
Who is the new Chief Operating Officer of Tyson Foods and what is his background?
Devin Cole, age 55, was appointed Chief Operating Officer effective September 2, 2025. He previously served as Group President, Poultry & Global Business Unit since March 2025, and before that as President, International & Global McDonald's and President, Global McDonald's. He was previously employed by Tyson from 1995 to 2014, including as Group Vice President and Chief Commercial Officer, and most recently was Chief Operating Officer at George's Inc. before returning to Tyson in 2024.
What is Mr. Cole's compensation package?
His annual base salary was increased to $1,350,000, and his target annual incentive plan award was increased to 160% of base salary. He received a one-time restricted stock unit grant with a fair market value of $172,000 on the grant date, vesting equally over the first three anniversaries. His current target annual long-term incentive award is $5,900,000, weighted 25% stock options, 25% restricted stock units and 50% performance stock.
Why did Brady Stewart leave Tyson Foods and what severance will he receive?
The filing states that Mr. Stewart departed the company effective September 2, 2025, and does not state a reason. Under a release-of-claims agreement, he will be eligible for separation benefits under the Executive Severance Plan, including pro-rated vesting of long-term incentive awards, a pro-rated annual incentive payment for this fiscal year based on target eligibility and company performance, and a payment equal to two times his annual base salary payable in installments over 24 months. These payments are subject to his release of claims and reaffirmation of his restrictive covenants and confidentiality obligations.
Does Mr. Cole have any relationships that could create conflicts of interest?
The filing states that there are no arrangements or understandings between Mr. Cole and any other persons pursuant to which he was selected as an officer, that he has no family relationships with any Tyson director or executive officer, and that he is not a party to and has no direct or indirect material interest in any transaction requiring disclosure under Item 404(a) of Regulation S-K.
Where can investors find the full terms of Mr. Stewart's separation agreement?
The filing states that the agreement will be filed as an exhibit to Tyson Foods' Annual Report on Form 10-K for the fiscal year ending September 27, 2025.
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