secwatch.observer — SEC 8-K summary
======================================

Issuer:     COSTCO WHOLESALE CORP /NEW (COST)
CIK:        0000909832
Form:       8-K
Filed at:   2023-11-24T23:59:59+00:00
Accession:  0000909832-23-000049
Event type: leadership
Sentiment:  neutral
Materiality: 0.70
Item codes: 5.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Costco CEO succession: Ron Vachris to become CEO Jan 1, 2024; Jelinek declines bonus
--------------------------------------------------------------------------------

- Ron Vachris will serve as President until Dec 31, 2023, then President and CEO starting Jan 1, 2024.
- Vachris eligible for up to $621,333 blended bonus (sales + pre-tax income + ESG metrics).
- Craig Jelinek steps down as CEO Dec 31, 2023; requested and receives no bonus for FY2024.
- Other execs eligible for max $232k bonus: $80k sales, $80k pre-tax income, $40k ESG (quantitative + discretionary).
- Bonus plan approved Nov 17, 2023; ESG metrics include diversity, resource consumption, and emissions targets.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/909832/000090983223000049/0000909832-23-000049-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/909832/000090983223000049/cost-20231117.htm
  HTML page:      https://secwatch.observer/filing/0000909832-23-000049

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer