International Paper Announces Material Agreement and Executive Changes

TL;DR

IP entered a material agreement and made exec changes on March 13th.

AI Summary

International Paper Company announced on March 13, 2024, the entry into a material definitive agreement. The company also reported the departure of directors or certain officers, the election of directors, and the appointment of certain officers, along with compensatory arrangements for certain officers. The filing also includes other events and financial statements and exhibits.

Why It Matters

This 8-K filing signals significant corporate actions, including a new material agreement and changes in leadership, which could impact the company's strategic direction and financial performance.

Risk Assessment

Risk Level: medium — The filing indicates significant corporate events, including a material definitive agreement and executive/director changes, which can introduce uncertainty and potential strategic shifts.

Key Players & Entities

• International Paper Company (company) — Registrant
• March 13, 2024 (date) — Date of earliest event reported

FAQ

Key Financial Figures

• $1 — ange on which registered Common Stock, $1 per share par value IP New York Sto
• $1,000,000 — l will receive an annual base salary of $1,000,000 and will be eligible for an annual bonu
• $8,500,000 — with a grant date fair market value of $8,500,000. The target number of units will be det
• $8,500,000 b — of units will be determined by dividing $8,500,000 by the closing price of our common stock
• $10 — than the Grant Date Closing Price plus $10 0% Equal to the Grant Date Closing P
• $20 — Equal to Grant Date Closing Price plus $20 (" Performance Hurdle II ") 150% of ta
• $30 — than the Grant Date Closing Price plus $30 (" Performance Hurdle III ") 200% of t
• $12,500,000 — ch will have a grant date fair value of $12,500,000, subject to performance metrics on the
• $150,000 — st to the Company of personal use above $150,000 per year. The value of such use up to $
• $200,000 — an additional one-time cash payment of $200,000 to support relocation expenses not cove
• $50,000 — opment of his offer of employment up to $50,000. There are no arrangements or underst

Filing Documents

• d807996d8k.htm (8-K) — 43KB
• d807996dex101.htm (EX-10.1) — 34KB
• d807996dex991.htm (EX-99.1) — 9KB
• g807996g0319004955967.jpg (GRAPHIC) — 4KB
• g807996page17.jpg (GRAPHIC) — 7KB
• g807996page18.jpg (GRAPHIC) — 7KB
• 0001193125-24-070875.txt ( ) — 248KB
• ip-20240313.xsd (EX-101.SCH) — 3KB
• ip-20240313_lab.xml (EX-101.LAB) — 17KB
• ip-20240313_pre.xml (EX-101.PRE) — 11KB
• d807996d8k_htm.xml (XML) — 3KB

SIGNATURES

SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. INTERNATIONAL PAPER COMPANY Date: March 19, 2024 By: /s/ Joseph R. Saab Name: Joseph R. Saab Title: Senior Vice President, General Counsel and Corporate Secretary 6

View Full Filing

View this 8-K filing on SEC EDGAR