share_log

McDonald's | 8-K: McDonald's Board of Directors Approved the Payout Structure for the 2024 Target Incentive Plan Awards for Executives

SEC announcement ·  Feb 16 15:12
Summary by Moomoo AI
On February 12, 2024, McDonald's Corporation announced the approval of the payout structure for its 2024 Target Incentive Plan (TIP) for executives by the Compensation Committee of the Board of Directors. The plan outlines the target TIP awards as a percentage of base salary for key executive officers, including President and CEO Christopher Kempczinski at 200%, and other top executives with varying percentages. The 2024 TIP payouts will be determined by the company's performance in operating income, Systemwide sales, new restaurant openings, and a strategic scorecard focusing on leadership's efforts in franchising strategy, employee engagement, and diversity, equity, and inclusion. The payout factor for these awards can range from zero to a maximum of 200% of the target award, with performance results potentially adjusted for compensation purposes, such as expressing results in constant currencies to mitigate the impact of foreign currency translation. The report was officially signed by Jeffrey J. Pochowicz, Vice President, Associate General Counsel and Assistant Secretary, on February 16, 2024.
On February 12, 2024, McDonald's Corporation announced the approval of the payout structure for its 2024 Target Incentive Plan (TIP) for executives by the Compensation Committee of the Board of Directors. The plan outlines the target TIP awards as a percentage of base salary for key executive officers, including President and CEO Christopher Kempczinski at 200%, and other top executives with varying percentages. The 2024 TIP payouts will be determined by the company's performance in operating income, Systemwide sales, new restaurant openings, and a strategic scorecard focusing on leadership's efforts in franchising strategy, employee engagement, and diversity, equity, and inclusion. The payout factor for these awards can range from zero to a maximum of 200% of the target award, with performance results potentially adjusted for compensation purposes, such as expressing results in constant currencies to mitigate the impact of foreign currency translation. The report was officially signed by Jeffrey J. Pochowicz, Vice President, Associate General Counsel and Assistant Secretary, on February 16, 2024.
Helpful
Not Helpful

This announcement is a separate document:

Doc 1

Doc 2

Disclaimer: This content is for informational and educational purposes only and does not constitute a recommendation or endorsement of any specific investment or investment strategy. Read more