Costco 8-K Signals Executive/Director Changes, Compensation Updates

Ticker: COST · Form: 8-K · Filed: 2024-02-09T00:00:00.000Z

Sentiment: neutral

Topics: executive-change, compensation, corporate-governance

TL;DR

**Costco just filed an 8-K hinting at executive changes and new pay deals.**

AI Summary

Costco Wholesale Corporation filed an 8-K on February 9, 2024, reporting an event that occurred on February 5, 2024. This filing indicates changes related to the 'Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers'. While the specific individuals or compensation details are not provided in this summary, it signals potential shifts in leadership or executive pay structures. For investors, this matters because changes in executive leadership or compensation can impact a company's strategic direction, operational efficiency, and overall financial performance, potentially affecting stock value.

Why It Matters

Changes in executive leadership or compensation can signal strategic shifts or impact investor confidence, directly influencing Costco's future performance and stock valuation.

Risk Assessment

Risk Level: medium — The filing indicates potential changes in leadership or compensation, which can introduce uncertainty regarding future company direction and stability, warranting a medium risk assessment.

Analyst Insight

A smart investor would monitor Costco's subsequent announcements for specific details regarding executive changes and compensation, as these could influence future strategic direction and financial performance. This filing is a heads-up, not a definitive action trigger.

Key Numbers

Key Players & Entities

Forward-Looking Statements

FAQ

What was the earliest event reported in this 8-K filing?

The earliest event reported in this 8-K filing occurred on February 5, 2024.

When was this 8-K filing submitted to the SEC?

This 8-K filing was submitted to the SEC on February 9, 2024.

What specific items were reported under 'ITEM INFORMATION' in this 8-K?

The specific items reported under 'ITEM INFORMATION' are: 'Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers: Compensatory Arrangements of Certain Officers', 'Regulation FD Disclosure', and 'Financial Statements and Exhibits'.

What is the trading symbol and the exchange where Costco's common stock is registered?

Costco's common stock trades under the symbol COST and is registered on NASDAQ.

What is Costco Wholesale Corporation's principal executive office address?

Costco Wholesale Corporation's principal executive office address is 999 Lake Drive, Issaquah, WA 98027.

From the Filing

0000909832-24-000008.txt : 20240209 0000909832-24-000008.hdr.sgml : 20240209 20240209162338 ACCESSION NUMBER: 0000909832-24-000008 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 16 CONFORMED PERIOD OF REPORT: 20240205 ITEM INFORMATION: Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers: Compensatory Arrangements of Certain Officers ITEM INFORMATION: Regulation FD Disclosure ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20240209 DATE AS OF CHANGE: 20240209 FILER: COMPANY DATA: COMPANY CONFORMED NAME: COSTCO WHOLESALE CORP /NEW CENTRAL INDEX KEY: 0000909832 STANDARD INDUSTRIAL CLASSIFICATION: RETAIL-VARIETY STORES [5331] ORGANIZATION NAME: 07 Trade & Services IRS NUMBER: 911223280 STATE OF INCORPORATION: WA FISCAL YEAR END: 0903 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 000-20355 FILM NUMBER: 24615370 BUSINESS ADDRESS: STREET 1: 999 LAKE DRIVE CITY: ISSAQUAH STATE: WA ZIP: 98027- BUSINESS PHONE: 4253138100 MAIL ADDRESS: STREET 1: 999 LAKE DRIVE CITY: ISSAQUAH STATE: WA ZIP: 98027 FORMER COMPANY: FORMER CONFORMED NAME: COSTCO COMPANIES INC DATE OF NAME CHANGE: 19970401 FORMER COMPANY: FORMER CONFORMED NAME: PRICE/COSTCO INC DATE OF NAME CHANGE: 19930728 8-K 1 cost-20240205.htm 8-K cost-20240205 FALSE COSTCO WHOLESALE CORP /NEW 0000909832 0000909832 2024-02-05 2024-02-05 UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 8-K CURRENT REPORT Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Date of Report (Date of earliest event reported): February 5, 2024 COSTCO WHOLESALE CORPORATION (Exact name of registrant as specified in its charter) Washington 0-20355 91-1223280 (State or other jurisdiction of incorporation) (Commission File No.) (I.R.S. Employer Identification No.) 999 Lake Drive Issaquah , WA 98027 (Address of principal executive offices and zip code) Registrant’s telephone number, including area code: 425 - 313-8100 Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below): ☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) ☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) ☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) ☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) Securities registered pursuant to Section 12(b) of the Act: Title of each class Trading Symbol(s) Name of each exchange on which registered Common Stock, par value $.005 per share COST NASDAQ Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (17 CFR §230.405) or Rule 12b-2 of the Securities Exchange Act of 1934 (17 CFR §240.12b-2). Emerging growth company ☐ If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐ Item 5.02.     Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. On February 6, 2024, Costco announced that Richard Galanti will retire as Costco’s Chief Financial Officer, effective March 15, 2024, following nearly forty years of distinguished service to the Company. Mr. Galanti will remain an Executive Vice President and a member of the Board of Directors. The Board of Directors has appointed Gary Millerchip as an Executive Vice President, effective February 29, 2024, and Costco’s Chief Financial Officer to succeed Mr. Gala

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