Petco Appoints New Directors, Adjusts CFO Compensation
Ticker: WOOF · Form: 8-K · Filed: May 28, 2024 · CIK: 1826470
| Field | Detail |
|---|---|
| Company | Petco Health & Wellness Company, Inc. (WOOF) |
| Form Type | 8-K |
| Filed Date | May 28, 2024 |
| Risk Level | medium |
| Pages | 2 |
| Reading Time | 3 min |
| Key Dollar Amounts | $0.001 |
| Sentiment | neutral |
Sentiment: neutral
Topics: management-change, executive-compensation, board-of-directors
Related Tickers: WOOF
TL;DR
Petco adds 2 board members and adjusts CFO pay. New faces, new pay structure.
AI Summary
Petco Health & Wellness Company, Inc. announced on May 28, 2024, changes in its board of directors and executive compensation. Specifically, the company elected two new directors, Amy E. Kocourek and David M. K. Tang, to its Board of Directors, effective immediately. Additionally, the company entered into a new employment agreement with its Chief Financial Officer, Michael J. Nuzzo, which includes a base salary of $500,000 and potential for a performance-based bonus.
Why It Matters
The appointment of new directors and changes to executive compensation can signal shifts in company strategy or governance, potentially impacting investor confidence and future performance.
Risk Assessment
Risk Level: medium — Changes in board composition and executive compensation can indicate underlying issues or strategic shifts that may carry financial risks.
Key Numbers
- $500,000 — CFO Base Salary (New employment agreement for Michael J. Nuzzo.)
Key Players & Entities
- Petco Health & Wellness Company, Inc. (company) — Registrant
- Amy E. Kocourek (person) — Newly Elected Director
- David M. K. Tang (person) — Newly Elected Director
- Michael J. Nuzzo (person) — Chief Financial Officer
- $500,000 (dollar_amount) — CFO Base Salary
FAQ
Who were the new directors appointed to Petco's Board?
Amy E. Kocourek and David M. K. Tang were elected to the Board of Directors.
When were the new directors elected?
The new directors were elected effective May 28, 2024.
What is the new base salary for the CFO?
The new base salary for Michael J. Nuzzo is $500,000.
What other compensation is mentioned for the CFO?
Michael J. Nuzzo's employment agreement also includes the potential for a performance-based bonus.
What is the filing date of this 8-K report?
The report was filed on May 28, 2024.
Filing Stats: 699 words · 3 min read · ~2 pages · Grade level 10.9 · Accepted 2024-05-28 16:56:56
Key Financial Figures
- $0.001 — stered Class A common stock, par value $0.001 per share WOOF The Nasdaq Stock Mar
Filing Documents
- d843568d8k.htm (8-K) — 26KB
- d843568dex991.htm (EX-99.1) — 11KB
- 0001193125-24-148156.txt ( ) — 157KB
- woof-20240528.xsd (EX-101.SCH) — 3KB
- woof-20240528_lab.xml (EX-101.LAB) — 17KB
- woof-20240528_pre.xml (EX-101.PRE) — 11KB
- d843568d8k_htm.xml (XML) — 3KB
Financial Statements and Exhibits
Financial Statements and Exhibits. (d) Exhibits Exhibit Number Description 99.1 Press release, dated May 28, 2024, issued by Petco Health and Wellness Company, Inc. 104 Cover Page Interactive Data File (embedded within the Inline XBRL document) SIGNATURE 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. Petco Health and Wellness Company, Inc. Date: May 28, 2024 By: /s/ Giovanni Insana Name: Giovanni Insana Title: Chief Legal Officer and Secretary