Dean Foods Company (NYSE:DF) Files An 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers

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Dean Foods Company (NYSE:DF) Files An 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers

Dean Foods Company (NYSE:DF) Files An 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers
Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers

(e)Compensatory Arrangements of Certain Officers

On August8, 2018, the Compensation Committee of the Board of Directors of Dean Foods Company, a Delaware corporation (the “Company”), amended certain terms of the Company’s 2018 Short-Term Incentive Compensation Plan (the “2018 STI Plan”). The amended 2018 STI Plan will apply to all plan participants, including the executive officers of the Company. Given that 2018 is an important year of transition and transformation for Dean Foods, the Company wants to ensure continued employee engagement and focus on executing on the Company’s commercial agenda, cost productivity initiatives and enterprise-wide productivity plan through the balance of the year. The amended 2018 STI Plan eliminates the requirement that a minimum adjusted operating income (“AOI”) be achieved in 2018 as a condition to the payout of any portion of the award related to individual performance objectives. Thus, the 2018 STI Plan, as amended, now allows a potential payout to a participant for that portion of an award earned based on his or her performance of individual objectives, without regard to the Company’s financial performance in 2018 against the minimum AOI target.

The 2018 STI Plan, as amended, is attached to this Form8-K as Exhibit10.1, and this description is qualified entirely by reference thereto.

Item 5.02 Financial Statements and Exhibits

(d)Exhibits


DEAN FOODS CO Exhibit
EX-10.1 2 a18-18672_1ex10d1.htm EX-10.1 Exhibit 10.1   DEAN FOODS COMPANY CORPORATE 2018 AMENDED SHORT-TERM INCENTIVE COMPENSATION PLAN (as amended August 8,…
To view the full exhibit click here

About Dean Foods Company (NYSE:DF)

Dean Foods Company is a food and beverage company. The Company processes and distributes fluid milk and other dairy case products in the United States. The Company operates through manufacturing, marketing, selling and distributing a wide variety of branded and private label dairy case product segment. It manufactures, markets and distributes a variety of branded and private label dairy case products, including fluid milk, ice cream, cultured dairy products, creamers, juice, tea, ice cream mix and other dairy products to retailers, distributors, foodservice outlets, educational institutions and governmental entities across the United States. The Company delivers its products to customer locations in refrigerated trucks or trailers that it owns or leases. Its products are sold on a local or regional basis through its local and regional sales forces. It operates approximately 70 manufacturing facilities in over 30 states located based on customer needs and other market factors.