Labcorp Files DEF 14A with Executive Compensation Details

Ticker: LH · Form: DEF 14A · Filed: Apr 4, 2024 · CIK: 920148

Laboratory Corp Of America Holdings DEF 14A Filing Summary
FieldDetail
CompanyLaboratory Corp Of America Holdings (LH)
Form TypeDEF 14A
Filed DateApr 4, 2024
Risk Levellow
Pages14
Reading Time17 min
Key Dollar Amounts$12.16 billion, $1.20 billion, $748.7 million, $4, $13.56
Sentimentneutral

Sentiment: neutral

Topics: DEF 14A, Executive Compensation, Equity Awards, Labcorp, Proxy Statement

TL;DR

<b>Labcorp's DEF 14A filing details executive compensation, including equity awards and their fair value changes for 2020-2023.</b>

AI Summary

LABORATORY CORP OF AMERICA HOLDINGS (LH) filed a Proxy Statement (DEF 14A) with the SEC on April 4, 2024. Filing is a Definitive Proxy Statement (DEF 14A) for Laboratory Corp of America Holdings. The filing covers the period ending December 31, 2023, with data points for 2020-2023. Includes details on equity awards, stock awards, and option awards for PEO and Non-PEO members. Reports year-over-year changes in fair value for outstanding and unvested equity awards. Provides information on dividends or other earnings paid on stock or option awards.

Why It Matters

For investors and stakeholders tracking LABORATORY CORP OF AMERICA HOLDINGS, this filing contains several important signals. Provides transparency into executive compensation structures and the valuation of equity awards. Allows shareholders to assess the company's compensation policies and their potential impact on financial performance.

Risk Assessment

Risk Level: low — LABORATORY CORP OF AMERICA HOLDINGS shows low risk based on this filing. The filing is a routine proxy statement and does not contain new material financial information or significant operational changes.

Analyst Insight

Review the executive compensation details and equity award valuations to understand potential impacts on shareholder value and executive incentives.

Key Numbers

  • 2023-12-31 — Reporting Period End (Conformed Period of Report)
  • 20240404 — Filing Date (Filed As Of Date)

Key Players & Entities

  • LABORATORY CORP OF AMERICA HOLDINGS (company) — Filer
  • 0000920148 (company) — Central Index Key
  • DEF 14A (document) — Form Type
  • 20240404 (date) — Filing Date
  • 2023-12-31 (date) — Fiscal Year End

FAQ

When did LABORATORY CORP OF AMERICA HOLDINGS file this DEF 14A?

LABORATORY CORP OF AMERICA HOLDINGS filed this Proxy Statement (DEF 14A) with the SEC on April 4, 2024.

What is a DEF 14A filing?

A DEF 14A is a definitive proxy statement sent to shareholders before annual meetings, covering executive compensation, board nominations, and shareholder votes. This particular DEF 14A was filed by LABORATORY CORP OF AMERICA HOLDINGS (LH).

Where can I read the original DEF 14A filing from LABORATORY CORP OF AMERICA HOLDINGS?

You can access the original filing directly on the SEC's EDGAR system. The filing is publicly available and includes all exhibits and attachments submitted by LABORATORY CORP OF AMERICA HOLDINGS.

What are the key takeaways from LABORATORY CORP OF AMERICA HOLDINGS's DEF 14A?

LABORATORY CORP OF AMERICA HOLDINGS filed this DEF 14A on April 4, 2024. Key takeaways: Filing is a Definitive Proxy Statement (DEF 14A) for Laboratory Corp of America Holdings.. The filing covers the period ending December 31, 2023, with data points for 2020-2023.. Includes details on equity awards, stock awards, and option awards for PEO and Non-PEO members..

Is LABORATORY CORP OF AMERICA HOLDINGS a risky investment based on this filing?

Based on this DEF 14A, LABORATORY CORP OF AMERICA HOLDINGS presents a relatively low-risk profile. The filing is a routine proxy statement and does not contain new material financial information or significant operational changes.

What should investors do after reading LABORATORY CORP OF AMERICA HOLDINGS's DEF 14A?

Review the executive compensation details and equity award valuations to understand potential impacts on shareholder value and executive incentives. The overall sentiment from this filing is neutral.

How does LABORATORY CORP OF AMERICA HOLDINGS compare to its industry peers?

Laboratory Corp of America Holdings operates in the medical laboratories industry, providing diagnostic information services.

Are there regulatory concerns for LABORATORY CORP OF AMERICA HOLDINGS?

The filing is a regulatory requirement under the Securities Exchange Act of 1934, mandating disclosure of executive compensation and corporate governance matters.

Industry Context

Laboratory Corp of America Holdings operates in the medical laboratories industry, providing diagnostic information services.

Regulatory Implications

The filing is a regulatory requirement under the Securities Exchange Act of 1934, mandating disclosure of executive compensation and corporate governance matters.

What Investors Should Do

  1. Analyze the compensation packages for key executives, noting any significant changes or trends.
  2. Evaluate the reported fair values of equity awards and their year-over-year fluctuations.
  3. Understand the company's policies regarding dividends and other earnings on stock and option awards.

Year-Over-Year Comparison

This filing is a DEF 14A, which is a proxy statement providing details on executive compensation and shareholder matters, rather than a financial results report.

Filing Stats: 4,337 words · 17 min read · ~14 pages · Grade level 16.1 · Accepted 2024-04-04 17:01:30

Key Financial Figures

  • $12.16 billion — 160+ million patient interactions $12.16 billion FY 2023 revenue 67,000+ mission-dr
  • $1.20 billion — we generated $12.16 billion in revenue, $1.20 billion in operating cash flow, $748.7 million
  • $748.7 million — , $1.20 billion in operating cash flow, $748.7 million in free cash flow from continuing opera
  • $4 — d items), diluted earnings per share of $4.33, and adjusted earnings per share of
  • $13.56 — .33, and adjusted earnings per share of $13.56. Moreover, our Base Business, the busin

Filing Documents

Executive Compensation Highlights

Executive Compensation Highlights 6 Proxy Statement 9 GENERAL INFORMATION 10 2024 Annual Meeting of Shareholders 10 Important Notice Regarding the Availability of Proxy Materials for the Shareholder Meeting to Be Held on May 14, 2024 10 Matters Subject to a Vote of the Shareholders 11 Voting Procedures and Solicitation of Proxies 11 Proxy Expenses 13 Results of the 2024 Annual Meeting 13 CORPORATE GOVERNANCE 14 Shareholder Engagement 16 Board Structure and Independence 18 Annual Self-Assessment 21 Identification and Evaluation of Director Candidates 23 Communications with the Board 25 Board Committees and Their Functions 26 Audit Committee 27 Compensation and Human Capital Committee 28 Nominating and Corporate Governance Committee 28 Quality and Compliance Committee 29 Board and Committee Meetings 29 Corporate Governance Policies and Procedures 30 DIRECTOR COMPENSATION 31 Elements of Non-Employee Director Compensation 31 Director Stock Ownership Program 32 Summary of 2023 Director Compensation 32 PROPOSAL ONE - ELECTION OF DIRECTORS 33 Nominees to the Board of Directors 34 EXECUTIVE OFFICERS 44 COMPENSATION DISCUSSION & ANALYSIS 47 COMPENSATION AND HUMAN CAPITAL COMMITTEE REPORT 66

EXECUTIVE COMPENSATION

EXECUTIVE COMPENSATION 67 Summary Compensation Table 67 PAY VERSUS PERFORMANCE 83 ADVISORY VOTE TO APPROVE EXECUTIVE COMPENSATION 87 PROPOSAL TWO - Advisory Vote to Approve Executive Compensation 87 RATIFICATION OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM 89 PROPOSAL THREE - Ratification of Independent Registered Public Accounting Firm 89 AUDIT COMMITTEE REPORT 91 SHAREHOLDER PROPOSALS 92 PROPOSALS FOUR - SIX 92

SECURITY OWNERSHIP OF CERTAIN BENEFICIAL HOLDERS AND MANAGEMENT

SECURITY OWNERSHIP OF CERTAIN BENEFICIAL HOLDERS AND MANAGEMENT 101 OTHER MATTERS 103 Shareholder Proposals and Director Nominations for 2025 Annual Meeting 103 Householding 104 Additional Information 104 USE OF NON-GAAP FINANCIAL MEASURES 105 2024 PROXY STATEMENT Table of Contents TABLE OF CONTENTS Cautionary Note Regarding Forward-Looking Statements As used in this Proxy Statement, "Labcorp," the "Company" and "we" may refer to Laboratory Corporation of America Holdings itself, one or more of its subsidiaries, or Laboratory Corporation of America Holdings and its consolidated subsidiaries, as applicable. This Proxy Statement contains certain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), that are based on current expectations, forecasts, assumptions, and other information available to Laboratory Corporation of America Holdings as of the date hereof. Forward-looking statements involve inherent risks and uncertainties, include statements regarding Labcorp's expectations, beliefs, intentions, or strategies regarding the future, including with respect to business, financial, operational, compensation, and environmental, social, and governance matters, and can be identified by forward-looking words such as "anticipate," "believe," "could," "estimate," "expect," "should," "seeks," "approximately," "estimate," "goal," "intend," "may," "plan," "should," "will," and "would," or the negative of those words or other similar terminology. Labcorp's actual results, performance, or events may differ materially from these forward-looking statements made or implied due to a number of risks and uncertainties relating to Labcorp's business, including the effect of global economic and market conditions, Labcorp's ability to execute its business and growth strate

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