secwatch.observer — SEC 8-K summary
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Issuer:     SYSCO CORP (SYY)
CIK:        0000096021
Form:       8-K
Filed at:   2024-08-05T23:59:59+00:00
Accession:  0000096021-24-000077
Event type: other
Sentiment:  neutral
Materiality: 0.20
Item codes: 5.02
LLM model:  deepseek-v4-flash:cloud@v2

Sysco approves fiscal 2025 AIP and LTIP awards for named executive officers
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- Compensation Committee approved AIP targets for fiscal 2025 for NEOs including CEO Kevin P. Hourican and CFO Kenny K. Cheung.
- AIP payout 70% on financial measures (50% operating income, 20% sales revenue) and 30% on strategic objectives; max payout 200% of target.
- LTIP awards consist of 50% PSUs (EPS, ROIC, revenue metrics with TSR modifier), 30% RSUs, and 20% stock options.
- PSUs can range from 0% to 200% of target; three-year performance period; dividend equivalents accrue.
- Stock options have 10-year term, vest in three equal annual installments; RSUs also vest in three equal annual installments.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/96021/000009602124000077/0000096021-24-000077-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/96021/000009602124000077/syy-20240731.htm
  HTML page:      https://secwatch.observer/filing/0000096021-24-000077

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