01—Abstract
Summary
Summary of the 8-K filed April 2, 2026. Cited figures are marked; the original filing is the authoritative source.
Tyson Foods, Inc. filed a Current Report on Form 8-K on April 2, 2026 to disclose a leadership change in its accounting function.
The Company announced that Phillip Thomas will be appointed Vice President, Controller and Chief Accounting Officer, effective April 6, 2026. Mr. Thomas, 51, has served as Vice President and Controller since December 2023, and previously held the Vice President, Controller and Chief Accounting Officer role from July 2020 to December 2023. In connection with the appointment, Lori Bondar, Senior Vice President and Chief Accounting Officer, will step down from the Chief Accounting Officer role.
She will remain with the Company as Senior Vice President to assist with the transition and plans to retire prior to the end of this fiscal year. The filing also sets out Mr. Thomas's compensation: an annual base salary of $360,574,a a target annual incentive of 55% of base salary, and an annual long-term incentive target award of $175,000, weighted 75% restricted stock units and 25% performance stock. The filing states there is no family relationship with any director or officer and no related party transactions required to be reported under Item 404(a) of Regulation S-K.
02—Key points
Key Highlights
- Phillip Thomas, currently Vice President and Controller, will become Vice President, Controller and Chief Accounting Officer effective April 6, 2026.
- Lori Bondar, Senior Vice President and Chief Accounting Officer, steps down from the CAO role but remains as Senior Vice President to assist with the transition.
- Ms. Bondar plans to retire from the Company before the end of the current fiscal year.
- Mr. Thomas has prior CAO experience at Tyson, serving in that role from July 2020 to December 2023.
- Mr. Thomas's annual base salary is $360,574, with a 55% target annual incentive.
- Mr. Thomas's annual long-term incentive target award is $175,000, weighted 75% restricted stock units and 25% performance stock.
- The filing reports no family relationships with directors or officers and no Item 404(a) related party transactions for Mr. Thomas.
03—Questions
Frequently Asked Questions
Why is Tyson Foods changing its Chief Accounting Officer?
The filing states that Lori Bondar will step down from the Chief Accounting Officer role in connection with Phillip Thomas's appointment. She will remain with the Company as Senior Vice President to assist with the transition and plans to retire before the end of this fiscal year. The filing does not give further reasons for the change.
Who is Phillip Thomas and what is his background at Tyson?
Mr. Thomas, 51, has been Vice President and Controller since December 2023. He previously served as Vice President, Controller and Chief Accounting Officer from July 2020 to December 2023, Vice President and Assistant Controller from March 2014 to July 2020, and Senior Director Financial Reporting from July 2008 to March 2014.
When does the leadership change take effect?
Mr. Thomas's appointment as Vice President, Controller and Chief Accounting Officer is effective April 6, 2026.
What compensation will Mr. Thomas receive in his new role?
He will receive an annual base salary of $360,574 and remains eligible for the annual incentive plan with a target of 55% of base salary. His annual long-term incentive target award is $175,000, weighted 75% restricted stock units and 25% performance stock.
Are there any related-party or family relationships tied to the appointment?
The filing states there is no family relationship between Mr. Thomas and any director or officer, and no arrangement or understanding under which he was selected. He is not a party to any related party transactions required to be reported under Item 404(a) of Regulation S-K.
04—Continue