Vestis Corp Files DEF 14A for FY2025

Ticker: VSTS · Form: DEF 14A · Filed: Dec 16, 2024 · CIK: 1967649

Vestis CORP DEF 14A Filing Summary
FieldDetail
CompanyVestis CORP (VSTS)
Form TypeDEF 14A
Filed DateDec 16, 2024
Risk Levellow
Pages15
Reading Time18 min
Key Dollar Amounts$13 million, $335 million
Sentimentneutral

Sentiment: neutral

Topics: proxy-statement, corporate-governance, executive-compensation

Related Tickers: VSTS

TL;DR

Vestis Corp (VSTS) filed its DEF 14A. Expect proxy materials on exec pay & board.

AI Summary

Vestis Corp filed a DEF 14A on December 16, 2024, for the fiscal year ending January 27, 2025. The filing details executive compensation and other corporate governance matters. Vestis Corp, formerly Epic NewCo, Inc., is based in Roswell, GA, and operates in the wholesale-miscellaneous nondurable goods sector.

Why It Matters

This filing provides crucial information for shareholders regarding executive compensation, director nominations, and other governance issues that can impact the company's strategic direction and shareholder value.

Risk Assessment

Risk Level: low — This is a routine annual filing (DEF 14A) that primarily concerns corporate governance and executive compensation, not immediate operational or financial risks.

Key Numbers

Key Players & Entities

FAQ

What is the primary purpose of a DEF 14A filing?

A DEF 14A filing, also known as a Proxy Statement, is used to solicit proxies from shareholders for an upcoming annual meeting, typically to vote on director elections, executive compensation, and other corporate matters.

When is Vestis Corp's fiscal year end?

Vestis Corp's fiscal year ends on January 27, 2025, as indicated by the 'CONFORMED PERIOD OF REPORT' in the filing.

What was Vestis Corp's former name?

Vestis Corp was formerly known as Epic NewCo, Inc., with a date of name change on February 28, 2023.

Where is Vestis Corp headquartered?

Vestis Corp's business and mailing address is located at 1035 Alpharetta Street, Suite 2100, Roswell, GA 30075.

What industry does Vestis Corp operate in?

Vestis Corp operates in the Wholesale-Miscellaneous Nondurable Goods sector, with SIC code 5190.

Filing Stats: 4,519 words · 18 min read · ~15 pages · Grade level 16.5 · Accepted 2024-12-16 16:51:14

Key Financial Figures

Filing Documents

Executive Compensation

Executive Compensation 31 Compensation Discussion and Analysis 31 Executive Summary 31 Key Financial Results 31 Vestis' Executive Compensation Principles and Operating Framework 32

Executive Compensation Program and Practices Overview

Executive Compensation Program and Practices Overview 33 Detailed Compensation Program Discussion 34 Risk Mitigation Policies 41 Compensation and Human Resources Committee Report 42 Review of Related Party Transactions 43 2024 Compensation Tables 44 Summary Compensation Table 44 Grants of Plan-Based Awards for Fiscal 2024 46 Outstanding Equity Awards at 2024 Fiscal Year-End 48 Option Exercises and Stock Vested for Fiscal 2024 51 Pension Benefits for Fiscal 2024 51 Non-Qualified Deferred Compensation for Fiscal 2024 51 Narrative to 2024 Compensation Tables 52 Employment Agreements and Potential Post-Employment Benefits 54 Potential Payments Upon Termination or Change of Control 59 Equity Compensation Plan Information 62 CEO Pay Ratio 63 Pay Versus Performance 64 Beneficial Ownership of our Common Stock 68 Other Business at the Meeting 70 Shareholder Proposals and Nominations for 2026 Annual Meeting 70 Inclusion of Proposals in our Proxy Statement and Proxy Card under the SEC's Rules 70 Bylaw Requirements for Shareholder Submission of Nomination and Proposals 70 Inclusion of Director Nominations in our Proxy Statement and Proxy Card under our Proxy Access Bylaws 70 Notice of Intent to Solicit Proxies 70 Availability of SEC Filings, Corporate Governance Guidelines, Code of Ethics and Committee Charters 71 Delivery of Materials to Shareholders with Shared Addresses 71 Miscellaneous 71 Appendix A – Reconciliation of GAAP and Non-GAAP Financial Measures and Discussion of Customer Retention 72 2025 Proxy Statement 5 CAUTIONARY NOTE REGARDING FORWARD-LOOKING This proxy statement contains "forward-looking statements" within the meaning of the securities laws. All statements that reflect our expectations, assumptions or projections about the future, other than statements of historical fact, are forward- looking statements. In some cases, for

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