secwatch.observer — SEC 8-K summary
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Issuer:     SYSCO CORP (SYY)
CIK:        0000096021
Form:       8-K
Filed at:   2023-08-04T23:59:59+00:00
Accession:  0000096021-23-000091
Event type: leadership
Sentiment:  neutral
Materiality: 0.30
Item codes: 5.02
LLM model:  deepseek-v4-flash:cloud@v2

Sysco approves FY2024 executive cash and equity incentive plans with ESG metrics
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- AIP cash bonuses weighted 70% on operating income (40%) and sales revenue (30%), 20% on strategic objectives, 4% diverse candidate pools, 6% carbon reduction.
- LTIP equity awards composed of 50% PSUs (tied to EPS, ROIC, revenue), 30% RSUs, 20% stock options; three-year performance period.
- PSU payout can range 0%-200% of target, with TSR modifier adjusting total shares by +/-25% versus S&P 500.
- NEOs covered include CEO Kevin Hourican, EVP Greg Bertrand, EVP Thomas Peck, EVP Judith Sansone.
- Maximum AIP payout 200% of target, subject to individual performance adjustment of up to 15% increase or reduction to zero.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/96021/000009602123000091/0000096021-23-000091-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/96021/000009602123000091/syy-20230731.htm
  HTML page:      https://secwatch.observer/filing/0000096021-23-000091

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