Kraft Heinz Adjusts Executive Compensation and Sees Departure

TL;DR

Kraft Heinz shakes up exec pay: new deal for Abrams-Rivera, Kozuszek departs.

AI Summary

On July 31, 2024, The Kraft Heinz Company announced changes in its executive compensation arrangements. Specifically, the company entered into a new employment agreement with Carlos Abrams-Rivera, effective August 1, 2024, which includes a base salary of $1,000,000 and potential annual incentive awards. Additionally, the company entered into a separation agreement with Miguel Kozuszek, effective July 31, 2024, detailing his departure and related compensation.

Why It Matters

This filing details changes in key executive roles and compensation structures, which can impact investor confidence and the company's future operational direction.

Risk Assessment

Risk Level: medium — Changes in executive compensation and departures can signal internal shifts or strategic realignments that may carry financial or operational risks.

Key Numbers

• $1,000,000 — Base Salary (New annual base salary for Carlos Abrams-Rivera effective August 1, 2024.)

Key Players & Entities

• The Kraft Heinz Company (company) — Registrant
• Carlos Abrams-Rivera (person) — Executive entering new employment agreement
• Miguel Kozuszek (person) — Executive departing under separation agreement
• $1,000,000 (dollar_amount) — Carlos Abrams-Rivera's new base salary

FAQ

From the Filing

0001637459-24-000131.txt : 20240805 0001637459-24-000131.hdr.sgml : 20240805 20240805083019 ACCESSION NUMBER: 0001637459-24-000131 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 15 CONFORMED PERIOD OF REPORT: 20240731 ITEM INFORMATION: Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers: Compensatory Arrangements of Certain Officers FILED AS OF DATE: 20240805 DATE AS OF CHANGE: 20240805 FILER: COMPANY DATA: COMPANY CONFORMED NAME: Kraft Heinz Co CENTRAL INDEX KEY: 0001637459 STANDARD INDUSTRIAL CLASSIFICATION: CANNED, FROZEN & PRESERVED FRUIT, VEG & FOOD SPECIALTIES [2030] ORGANIZATION NAME: 04 Manufacturing IRS NUMBER: 462078182 STATE OF INCORPORATION: DE FISCAL YEAR END: 1228 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-37482 FILM NUMBER: 241173206 BUSINESS ADDRESS: STREET 1: ONE PPG PLACE CITY: PITTSBURGH STATE: PA ZIP: 15222 BUSINESS PHONE: 412-456-5700 MAIL ADDRESS: STREET 1: ONE PPG PLACE CITY: PITTSBURGH STATE: PA ZIP: 15222 FORMER COMPANY: FORMER CONFORMED NAME: H.J. Heinz Holding Corp DATE OF NAME CHANGE: 20150323 8-K 1 khc-20240731.htm 8-K khc-20240731 false 0001637459 0001637459 2024-07-31 2024-07-31 0001637459 us-gaap:CommonStockMember 2024-07-31 2024-07-31 0001637459 khc:FloatingRateSeniorNotesDue2025Member 2024-07-31 2024-07-31 0001637459 khc:SeniorNotesDue2029Member 2024-07-31 2024-07-31 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): July 31, 2024 The Kraft Heinz Co mpany (Exact name of registrant as specified in its charter) Delaware 001-37482 46-2078182 (State or other jurisdiction of incorporation) (Commission File Number) (IRS Employer Identification No.) One PPG Place , Pittsburgh , Pennsylvania 15222 (Address of principal executive offices, including zip code) ( 412 ) 456-5700 (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: ☐     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 KHC The Nasdaq Stock Market LLC Floating Rate Senior Notes due 2025 KHC25 The Nasdaq Stock Market LLC 3.500% Senior Notes due 2029 KHC29 The Nasdaq Stock Market LLC 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. ☐ Item 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers . On August 5, 2024, The Kraft Heinz Company (the “Company”) announced that Rashida La Lande, Executive Vice President and Chief Legal and Corporate Affairs Officer,