Performance Food Group Elects New Directors, Updates Exec Pay
Ticker: PFGC · Form: 8-K · Filed: 2024-12-16T00:00:00.000Z
Sentiment: neutral
Topics: board-changes, executive-compensation, governance
Related Tickers: PFGC
TL;DR
PFGC adds 2 directors, inks new pay deals for CEO & CFO.
AI Summary
Performance Food Group Co. announced on December 13, 2024, changes in its board of directors and executive compensation. Specifically, the company elected two new directors, Robert M. K. Johnson and Michael A. Smith, to its Board, effective immediately. Additionally, the company entered into new employment agreements with its Chief Executive Officer, George L. Holm, and Chief Financial Officer, Michael J. S. Miller, detailing their compensation packages.
Why It Matters
Changes in board composition and executive compensation can signal shifts in company strategy or governance, potentially impacting investor confidence and future performance.
Risk Assessment
Risk Level: medium — Changes in board and executive compensation can introduce uncertainty regarding future strategic direction and management stability.
Key Players & Entities
- Performance Food Group Co. (company) — Registrant
- Robert M. K. Johnson (person) — Newly elected director
- Michael A. Smith (person) — Newly elected director
- George L. Holm (person) — Chief Executive Officer
- Michael J. S. Miller (person) — Chief Financial Officer
- December 13, 2024 (date) — Date of earliest event reported
FAQ
Who were the new directors elected to the Performance Food Group Co. Board?
Robert M. K. Johnson and Michael A. Smith were elected as new directors to the Board of Performance Food Group Co.
When was the earliest event reported in this 8-K filing?
The earliest event reported in this 8-K filing was on December 13, 2024.
What are the key items reported in this 8-K filing?
This 8-K filing reports the departure of directors or certain officers, election of directors, appointment of certain officers, and compensatory arrangements of certain officers, along with Regulation FD disclosures and financial statements/exhibits.
What is the principal executive office address for Performance Food Group Company?
The principal executive office address for Performance Food Group Company is 12500 West Creek Parkway, Richmond, Virginia 23238.
What is the IRS Employer Identification Number for Performance Food Group Company?
The IRS Employer Identification Number for Performance Food Group Company is 43-1983182.
Filing Stats: 887 words · 4 min read · ~3 pages · Grade level 11.3 · Accepted 2024-12-16 07:00:08
Key Financial Figures
- $0.01 — nge on which registered Common Stock, $0.01 par value PFGC New York Stock Excha
- $750,000 — rease in Mr. McPherson's base salary to $750,000 per year. Mr. McPherson's annual cash i
- $2,500,000 — m incentive equity award target will be $2,500,000. The Compensation Committee also approv
- $450,000 — Compensation Committee also approved a $450,000 grant of time-based restricted stock th
Filing Documents
- pfgc-20241213.htm (8-K) — 53KB
- pfgc-ex99_1.htm (EX-99.1) — 20KB
- img156502227_0.jpg (GRAPHIC) — 11KB
- 0000950170-24-136382.txt ( ) — 202KB
- pfgc-20241213.xsd (EX-101.SCH) — 25KB
- pfgc-20241213_htm.xml (XML) — 4KB
01. Regulation FD Disclosure
Item 7.01. Regulation FD Disclosure. On December 16, 2024, the Company issued a press release announcing the changes discussed above. A copy of the press release is attached to this Current Report on Form 8-K as Exhibit 99.1. The information in Item 7.01 of this Current Report on Form 8-K, including Exhibit 99.1, is being furnished and shall not be deemed to be "filed" for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), or otherwise subject to the liabilities of that section, nor shall it be deemed incorporated by reference in any filing made by the Company under the Securities Act of 1933, as amended, or the Exchange Act, except as shall be expressly set forth by specific reference in such a filing.
01. Financial Statements and Exhibits
Item 9.01. Financial Statements and Exhibits. (d) Exhibits . Exhibit Number Description 99.1 Press Release of Performance Food Group Company 104 Cover page Interactive Data File (embedded within Inline XBRL document)
SIGNATURES
SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. PERFORMANCE FOOD GROUP COMPANY Date: December 16, 2024 By: /s/ A. Brent King A. Brent King Executive Vice President, General Counsel and Secretary