Central Garden & Pet Co. Reports Director Changes and Compensation Updates
Ticker: CENTA · Form: 8-K · Filed: Sep 27, 2024 · CIK: 887733
Sentiment: neutral
Topics: governance, executive-compensation, board-changes
Related Tickers: CENT
TL;DR
CENT board shakeup and exec pay changes filed. Keep an eye on strategy shifts.
AI Summary
On September 23, 2024, Central Garden & Pet Company (NASDAQ: CENT) filed an 8-K to report changes in its board of directors and executive compensation arrangements. Specifically, the company announced the departure of director David R. Withrow and the appointment of new directors, along with updates to executive compensation plans.
Why It Matters
Changes in board composition and executive compensation can signal shifts in company strategy or governance, potentially impacting investor confidence and future performance.
Risk Assessment
Risk Level: low — This filing primarily concerns routine corporate governance matters such as director changes and compensation adjustments, which typically carry low immediate risk.
Key Players & Entities
- Central Garden & Pet Company (company) — Registrant
- David R. Withrow (person) — Departing Director
- NASDAQ: CENT (company) — Stock Ticker
FAQ
Who has departed from the board of directors?
David R. Withrow has departed from the board of directors.
What is the earliest event date reported in this filing?
The earliest event date reported is September 23, 2024.
What is the company's state of incorporation?
The company is incorporated in Delaware.
What is the company's IRS Employer Identification Number?
The company's IRS Employer Identification Number is 68-0275553.
What are the main items reported in this 8-K filing?
This filing reports the departure of directors, election of directors, appointment of certain officers, and compensatory arrangements of certain officers.
Filing Stats: 1,444 words · 6 min read · ~5 pages · Grade level 10.4 · Accepted 2024-09-27 16:30:56
Key Financial Figures
- $900,000 — ay Mr. Lahanas an annual base salary of $900,000. Mr. Lahanas will also be eligible to r
- $1,000,000 — receive a target annual equity grant of $1,000,000, which will be based upon on his perfor
- $3,432 — Mr. Lahanas will be entitled to receive $3,432 on a monthly basis, subject to a 2% inc
- $450,000 — pay Mr. Smith an annual base salary of $450,000. Mr. Smith will also be eligible to rec
- $250,000 — receive a target annual equity grant of $250,000, which will be based upon on his perfor
- $2,500 — , Mr. Smith will be entitled to receive $2,500 on a monthly basis. A copy of the pre
Filing Documents
- d885128d8k.htm (8-K) — 34KB
- d885128dex991.htm (EX-99.1) — 8KB
- 0001193125-24-227986.txt ( ) — 202KB
- cent-20240923.xsd (EX-101.SCH) — 4KB
- cent-20240923_def.xml (EX-101.DEF) — 13KB
- cent-20240923_lab.xml (EX-101.LAB) — 22KB
- cent-20240923_pre.xml (EX-101.PRE) — 14KB
- d885128d8k_htm.xml (XML) — 6KB
Financial Statements and Exhibits
Financial Statements and Exhibits. Exhibit 99.1 Press Release, dated September 27, 2024. Exhibit 104 Cover Page Interactive Data File – the cover page iXBRL tags are embedded within the Inline XBRL document. 3
SIGNATURES
SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. CENTRAL GARDEN & PET COMPANY Date: September 27, 2024 By: /s/ Joyce M. McCarthy Joyce M. McCarthy General Counsel and Secretary 4