United Parcel Service Inc. Files Definitive Proxy Statement

Ticker: UPS · Form: DEF 14A · Filed: 2024-03-18T00:00:00.000Z

Sentiment: neutral

Topics: UPS, Proxy Statement, DEF 14A, Executive Compensation, Shareholder Meeting

TL;DR

<b>United Parcel Service Inc. has filed its Definitive Proxy Statement for the upcoming period.</b>

AI Summary

UNITED PARCEL SERVICE INC (UPS) filed a Proxy Statement (DEF 14A) with the SEC on March 18, 2024. Filing is a Definitive Proxy Statement (DEF 14A) for United Parcel Service Inc. The filing covers the period ending May 2, 2024, with a submission date of March 18, 2024. Company's IRS number is 582480149 and it is incorporated in Delaware. Business and mailing address is 55 Glenlake Parkway NE, Atlanta, GA 30328. The filing includes data related to executive compensation, equity awards, and pension values for the years 2020-2023.

Why It Matters

For investors and stakeholders tracking UNITED PARCEL SERVICE INC, this filing contains several important signals. This filing is crucial for shareholders to understand executive compensation, voting matters, and corporate governance before the annual meeting. It provides detailed information on how the company plans to compensate its top executives and outlines proposals that shareholders will vote on.

Risk Assessment

Risk Level: low — UNITED PARCEL SERVICE INC shows low risk based on this filing. The filing is a standard proxy statement, providing routine disclosures without immediate financial or operational impacts.

Analyst Insight

Review the executive compensation details and any shareholder proposals to inform voting decisions.

Key Numbers

Key Players & Entities

FAQ

When did UNITED PARCEL SERVICE INC file this DEF 14A?

UNITED PARCEL SERVICE INC filed this Proxy Statement (DEF 14A) with the SEC on March 18, 2024.

What is a DEF 14A filing?

A DEF 14A is a definitive proxy statement sent to shareholders before annual meetings, covering executive compensation, board nominations, and shareholder votes. This particular DEF 14A was filed by UNITED PARCEL SERVICE INC (UPS).

Where can I read the original DEF 14A filing from UNITED PARCEL SERVICE INC?

You can access the original filing directly on the SEC's EDGAR system. The filing is publicly available and includes all exhibits and attachments submitted by UNITED PARCEL SERVICE INC.

What are the key takeaways from UNITED PARCEL SERVICE INC's DEF 14A?

UNITED PARCEL SERVICE INC filed this DEF 14A on March 18, 2024. Key takeaways: Filing is a Definitive Proxy Statement (DEF 14A) for United Parcel Service Inc.. The filing covers the period ending May 2, 2024, with a submission date of March 18, 2024.. Company's IRS number is 582480149 and it is incorporated in Delaware..

Is UNITED PARCEL SERVICE INC a risky investment based on this filing?

Based on this DEF 14A, UNITED PARCEL SERVICE INC presents a relatively low-risk profile. The filing is a standard proxy statement, providing routine disclosures without immediate financial or operational impacts.

What should investors do after reading UNITED PARCEL SERVICE INC's DEF 14A?

Review the executive compensation details and any shareholder proposals to inform voting decisions. The overall sentiment from this filing is neutral.

How does UNITED PARCEL SERVICE INC compare to its industry peers?

United Parcel Service Inc. operates in the trucking and courier services industry, specifically excluding air transport.

Are there regulatory concerns for UNITED PARCEL SERVICE INC?

The filing is made under the Securities Exchange Act of 1934, requiring public companies to provide detailed information to shareholders.

Industry Context

United Parcel Service Inc. operates in the trucking and courier services industry, specifically excluding air transport.

Regulatory Implications

The filing is made under the Securities Exchange Act of 1934, requiring public companies to provide detailed information to shareholders.

What Investors Should Do

  1. Review the compensation details for named executive officers.
  2. Analyze any shareholder proposals and management's recommendations.
  3. Note the date of the shareholder meeting for voting deadlines.

Key Dates

Year-Over-Year Comparison

This is a DEF 14A filing, which is a standard annual disclosure for proxy matters, not a change from a previous filing type.

Filing Stats: 4,294 words · 17 min read · ~14 pages · Grade level 16.4 · Accepted 2024-03-18 16:19:35

Filing Documents

Executive Compensation

Executive Compensation 32 Compensation Committee Report 32 Compensation Discussion and Analysis 33 2023 Summary Compensation Table 45 2023 Grants of Plan-Based Awards 47 2023 Outstanding Equity Awards at Fiscal Year-End 48 2023 Option Exercises and Stock Vested 49 2023 Pension Benefits 49 2023 Non-Qualified Deferred Compensation 51 Potential Payments on Termination or Change in Control 53 Equity Compensation Plans 56 Median Employee to CEO Pay Ratio 57 Pay Versus Performance 58 Proposal 2 — Advisory Vote to Approve Named Executive Officer Compensation 62 Ownership of Our Securities 63 Securities Ownership of Certain Beneficial Owners and Management 63 Delinquent Section 16(a) Reports 64 Audit Committee Matters 65 Proposal 3 — Ratification of Auditors 65 Audit Committee Report 65 Principal Accounting Firm Fees 67 Shareowner Proposals 68 Proposal 4 — Reduce the Voting Power of Class A Stock from 10 Votes Per Share to One Vote Per Share 68 Proposal 5 — Report on the Risks Arising From V oluntary Carbon-Reduction Commitments 71 Proposal 6 — Annual Report on Diversity , Equity and Inclusion 74 Important Information About Voting at the 2024 Annual Meeting 77 Other Information for Shareowners 81 Solicitation of Proxies 81 Eliminating Duplicative Proxy Materials 81 Submission of Shareowner Proposals and Director Nominations 81 2023 Annual Report on Form 10-K 82 Other Business 82 3 United Parcel Service, Inc. 55 Glenlake Parkway, N.E. Atlanta, GA 30328 March 18, 2024 Dear Fellow Shareowners, It is my pleasure to invite you to attend the 2024 UPS Annual Meeting of Shareowners. We encourage you to attend the meeting and to share your views about our Company. I am honored to serve as board chair and to help facilitate the effective oversight of our Company's strategy and risks. Your board is highly engaged and has a productive working relationship with management. Each directo

Executive Compensation

Executive Compensation Compensation Practices A significant portion of executive compensation is at-risk and tied to Company performance. This helps align executive decision-making with the long-term interests of our shareowners. We also have a longstanding owner-manager culture. Compensation practices that support these principles include: A balanced mix of cash and equity , providing a degree of financial certainty and appropriate incentives to retain and motivate executives; Performance incentive equity awards which vest over multiple years, furthering both retention and incentive goals; Multiple distinct goals for annual and long-term performance incentive awards, avoiding overemphasis on any one metric and mitigating excessive risk-taking; Long-term performance incentive awards with a three-year performance period ; Stock option awards that vest over a five-year period and only provide value if our stock price increases; Clawback policy that applies to all of our executive officers; Incentive compensation plan awards require a " double trigger " — both a change in control and a termination of employment or a failure to continue, assume or substitute the award — to accelerate vesting; and No tax gross-ups on equity awards or golden parachute excise taxes. 2023 Compensation Actions Key 2023 compensation decisions affecting our executive officers included: Most total direct compensation was performance-based or considered " at risk " (93% for the CEO and 86% for all other named executive officers ("NEOs") as a group), page 34 ; Base salary increases as a result of the annual salary review process and pay mix redesign, page 36 ; Pay mix redesign to better align annual incentive pay with market practices, improve the competitiveness of base salaries and simplify compensation design, page 36 ; A bifurcated performance period for the annual incentive awards in light of continued economic uncertainty and our then-labor uncertainty; beginning with the 2

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