McDonald's Reports Executive Changes and Compensation Adjustments

Ticker: MCD · Form: 8-K · Filed: 2024-02-16T00:00:00.000Z

Sentiment: neutral

Topics: executive-changes, compensation, corporate-governance

TL;DR

**McDonald's just filed an 8-K about executive changes and compensation, so keep an eye out for details!**

AI Summary

McDonald's Corporation filed an 8-K on February 16, 2024, reporting an event that occurred on February 12, 2024. The filing pertains to Item 5.02, specifically regarding the Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. This indicates changes in executive leadership or their compensation structures at the company.

Why It Matters

Changes in executive leadership and compensation can signal strategic shifts or impact investor confidence in McDonald's future performance.

Risk Assessment

Risk Level: medium — Changes in executive leadership can introduce uncertainty, but the specific details of the changes are not yet public, making the immediate risk moderate.

Key Players & Entities

FAQ

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

The earliest event reported in this 8-K filing occurred on February 12, 2024.

What is the primary item information disclosed in this 8-K?

The primary item information disclosed is "Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers."

When was this 8-K form filed with the SEC?

This 8-K form was filed with the SEC on February 16, 2024.

What is the full legal name of the registrant as specified in its charter?

The exact name of the registrant as specified in its charter is McDONALD’S CORPORATION.

What is the business address of McDonald's Corporation?

The business address of McDonald's Corporation is 110 North Carpenter Street, Chicago, Illinois, 60607.

From the Filing

0000063908-24-000059.txt : 20240216 0000063908-24-000059.hdr.sgml : 20240216 20240216150908 ACCESSION NUMBER: 0000063908-24-000059 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 15 CONFORMED PERIOD OF REPORT: 20240212 ITEM INFORMATION: Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers: Compensatory Arrangements of Certain Officers FILED AS OF DATE: 20240216 DATE AS OF CHANGE: 20240216 FILER: COMPANY DATA: COMPANY CONFORMED NAME: MCDONALDS CORP CENTRAL INDEX KEY: 0000063908 STANDARD INDUSTRIAL CLASSIFICATION: RETAIL-EATING PLACES [5812] ORGANIZATION NAME: 07 Trade & Services IRS NUMBER: 362361282 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-05231 FILM NUMBER: 24647725 BUSINESS ADDRESS: STREET 1: 110 NORTH CARPENTER STREET CITY: CHICAGO STATE: IL ZIP: 60607 BUSINESS PHONE: 630 623 3000 MAIL ADDRESS: STREET 1: 110 NORTH CARPENTER STREET CITY: CHICAGO STATE: IL ZIP: 60607 8-K 1 mcd-20240212.htm FORM 8-K mcd-20240212 false MCDONALDS CORP 0000063908 0000063908 2024-02-12 2024-02-12 UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 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 12, 2024 McDONALD’S CORPORATION (Exact Name of Registrant as Specified in Charter) Delaware   1-5231   36-2361282 (State or Other Jurisdiction of Incorporation)   (Commission File Number)   (IRS Employer Identification No.) 110 North Carpenter Street Chicago , Illinois (Address of Principal Executive Offices) 60607 (Zip Code) ( 630 ) 623-3000 (Registrant’s telephone number, including area code)   Not Applicable (Former Name or Former Address, if Changed Since Last Report) 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, $0.01 par value MCD New York Stock Exchange Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter). 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.  o Item 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. (e) Compensatory Arrangements of Certain Officers On February 12, 2024, the Compensation Committee of the Board of Directors of McDonald's Corporation (the “Company”) approved the payout structure for the 2024 Target Incentive Plan (“TIP”) awards for executives. The target 2024 TIP awards for the Company’s named executive officers, as reflected in the Company’s 2023 proxy statement, are as shown in the table below. Name Position Target TIP Award as a Percentage of Base Salary Christopher Kempczinski President and Chief Executive Officer 200% Ian Borden Executive Vice President

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