Sysco Corp 8-K/A, filed Oct 10, 2023
Sysco Corp (SYY)
8-K/A
2023-10-10
For: 2023-09-07
View Original
Added on
April 08, 2026
About this 8-K/A
Sysco Corp filed this 8-K/A on October 10, 2023, reporting on events of September 7, 2023.
Items reported
- Item 5.02: Director or officer change, or executive pay
UNITED STATES SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
WASHINGTON, D.C. 20549
FORM | ||
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d) OF THE
PURSUANT TO SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934
Date of Report (Date of earliest event reported): September 7, 2023
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Registrant’s telephone number, including area code: (281 ) 584-1390
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(Former name or former address, if changed since last report)
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SECTION 5 – CORPORATE GOVERNANCE AND MANAGEMENT
ITEM 5.02 DEPARTURE OF DIRECTORS OR CERTAIN OFFICERS; ELECTION OF DIRECTORS; APPOINTMENT OF CERTAIN OFFICERS; COMPENSATORY ARRANGEMENTS OF CERTAIN OFFICERS.
On September 8, 2023, Sysco Corporation (“Sysco” or the “Company”) filed a Current Report on Form 8-K (the “Original Form 8-K”) disclosing that Ms. Judith S. Sansone, Sysco’s Executive Vice President and Chief Commercial Officer, intended to retire from Sysco, effective October 2, 2023.
On October 5, 2023, the Company entered into a letter agreement with Ms. Sansone (the “Letter Agreement”), pursuant to which Ms. Sansone will remain employed on a part time basis as a non-executive employee of the Company in an advisory capacity. In connection with Ms. Sansone’s appointment to this advisory position and pursuant to the Letter Agreement, she will receive an annual base salary of $141,400 and will be eligible to receive:
•continued vesting of Ms. Sansone’s outstanding stock options, restricted stock units (“RSUs”) and performance share units (“PSUs”), in each case in accordance with the terms and conditions of the applicable award agreements;
•in the event Ms. Sansone’s employment is terminated prior to October 1, 2024, for any reason other than “cause” (as determined by Sysco in its sole discretion), a one-time cash payment equivalent to (A) the fair market value of any unvested RSUs as of her date of termination, plus (B) the value of the unvested PSUs granted in fiscal year 2022, based on the actual achievement with regard to the applicable performance metrics as of the date of termination;
•continuation of Company-subsidized health care coverage; and
•continued participation in the Sysco Corporation Employee’s 401(k) Plan.
The disclosure contained in Item 5.02 of the Original Form 8-K is hereby supplemented and amended by the disclosure contained in Item 5.02 of this Current Report on Form 8-K/A.
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, Sysco Corporation has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
Sysco Corporation
Date: October 10, 2023 | By: | /s/ Gerald W. Clanton | ||||||
| Gerald W. Clanton | ||||||||
| Vice President, Legal, Deputy General Counsel and Assistant Corporate Secretary | ||||||||
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