Petco Files DEF 14A: Executive Comp & Equity Awards Detailed

Ticker: WOOF · Form: DEF 14A · Filed: May 31, 2024 · CIK: 1826470

Petco Health & Wellness Company, Inc. DEF 14A Filing Summary
FieldDetail
CompanyPetco Health & Wellness Company, Inc. (WOOF)
Form TypeDEF 14A
Filed DateMay 31, 2024
Risk Levelmedium
Pages15
Reading Time18 min
Key Dollar Amounts$6.3B, $15, $380 million
Sentimentneutral

Sentiment: neutral

Topics: DEF 14A, executive-compensation, equity-awards, corporate-governance

TL;DR

Petco's DEF 14A is out, detailing exec pay and stock awards for FY23. Check it out.

AI Summary

Petco Health & Wellness Company, Inc. filed a DEF 14A with the SEC on May 31, 2024, reporting on its fiscal year ending January 28, 2024. The filing details executive compensation and other corporate governance matters. Key financial data for the fiscal years 2021, 2022, and 2023 are presented, including information on equity awards granted and vested.

Why It Matters

This filing provides crucial insights into how Petco compensates its top executives and manages its equity awards, which can impact shareholder value and company performance.

Risk Assessment

Risk Level: medium — DEF 14A filings often contain information about executive compensation, potential conflicts of interest, and other governance issues that can affect investor confidence and stock price.

Key Numbers

  • 2023 — Fiscal Year End (Reporting period for detailed compensation and equity award information.)
  • 2022 — Fiscal Year (Comparative financial data presented.)
  • 2021 — Fiscal Year (Comparative financial data presented.)

Key Players & Entities

  • Petco Health & Wellness Company, Inc. (company) — Filer
  • 0001826470 (company) — Central Index Key
  • 20240531 (date) — Filing Date
  • 20240722 (date) — Period of Report
  • 2023-01-01 2023-12-31 (date) — Fiscal Year Data

FAQ

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

The primary purpose of this DEF 14A filing is to provide information to shareholders regarding the company's annual meeting of stockholders, including details on executive compensation, director nominations, and other corporate governance matters.

What fiscal years are covered by the financial data presented in this filing?

The filing presents financial data for the fiscal years 2021, 2022, and 2023.

What specific types of equity awards are detailed in the filing?

The filing details stock awards and option awards reported in the Summary Compensation table, as well as changes in fair value of equity awards granted in prior years that vested during the year.

When was Petco Health & Wellness Company, Inc. incorporated or formerly known by another name?

The company was formerly known as PET Acquisition LLC until a name change on September 29, 2020.

What is the business address and phone number for Petco Health & Wellness Company, Inc.?

The business address is 10850 Via Frontera, San Diego, CA 92127, and the business phone number is 1-858-453-7845.

Filing Stats: 4,483 words · 18 min read · ~15 pages · Grade level 15.4 · Accepted 2024-05-31 16:50:45

Key Financial Figures

  • $6.3B — ghts NET REVENUE COMPARABLE SALES $6.3B +3.6% YoY +1.8% YoY MOBILE VETERI
  • $15 — trainee partner's base wage to at least $15 an hour in fiscal 2023. This change, al
  • $380 million — to make a difference, investing nearly $380 million in adoption and medical care programs,

Filing Documents

EXECUTIVE COMPENSATION

EXECUTIVE COMPENSATION 25 Compensation Discussion and Analysis 25 Compensation Committee Report 34

Executive Compensation Tables

Executive Compensation Tables 34 PROPOSAL 2—NON-BINDING, ADVISORY VOTE TO APPROVE NAMED EXECUTIVE OFFICER COMPENSATION 51 INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM 52 Principal Accountant Fees and Services 52 Pre-Approval of Audit and Non-Audit Services Policy 52 AUDIT COMMITTEE REPORT 53 PROPOSAL 3—RATIFICATION OF APPOINTMENT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM 54 CERTAIN RELATIONSHIPS AND RELATED PERSON TRANSACTIONS 55 Procedures for Review, Approval, and Ratification of Related Person Transactions 55 Related Person Transactions 55 BENEFICIAL OWNERSHIP OF SECURITIES 57 QUESTIONS & ANSWERS ABOUT THE ANNUAL MEETING 59 OTHER MATTERS 62 Other Business 62 Submission of Stockholder Proposals for the 2025 Annual Meeting 62 Householding Information 62 Where You Can Find More Information 62 3 Table of Contents

Forward-Looking Statements and Website References

Forward-Looking Statements and Website References This document includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, concerning expectations, beliefs, plans, objectives, goals, strategies, future events or performance, and underlying assumptions and other statements that are other than statements of historical fact, including, but not limited to, statements regarding our social, environmental, and other sustainability plans and goals. Although we believe that the expectations and assumptions reflected in these statements are reasonable, there can be no assurance that these expectations will prove to be correct. Forward-looking statements are subject to many risks and uncertainties, including the risk factors that we identify in our U.S. Securities and Exchange Commission filings, and actual results may differ materially from the results discussed in such forward-looking statements. We undertake no duty to update publicly any forward-looking statement that we may make, whether as a result of new information, future events or otherwise, except as may be required by applicable law, regulation, or other competent legal authority. Forward-looking and other statements in this document may also address our progress, plans, and goals with respect to social and sustainability initiatives, and the inclusion of such statements is not an indication that these contents are necessarily material to investors or required to be disclosed in our filings with the U.S. Securities and Exchange Commission. Such plans and goals may change, and statements regarding such plans and goals are not guarantees or promises that they will be met. In addition, historical, current, and forward-looking sustainability-related statements may be based on standards for measuring progress that are still developing, internal controls and processes that continue to evolve, and

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