McDONALDS CORPORATION (NYSE:MCD) 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;
Plan (TIP) for 2017
of the Board of Directors of McDonald’s Corporation (the
Company) approved the payout structure for the 2017 TIP awards
for executives.
officers for whom disclosure was required in the Companys most
recent proxy statement (and who remain employed with the Company)
are as shown in the table below.
|
Name
|
Position
|
Target TIP Award as a Percentage of Base Salary
|
|
Stephen Easterbrook
|
President and Chief Executive Officer
|
175%
|
|
Kevin Ozan
|
Executive Vice President and Chief Financial Officer
|
50%
|
|
Douglas Goare
|
President, International Lead Markets and Chief
Restaurant Officer |
90%
|
|
Christopher Kempczinski
|
President, McDonald’s USA
|
90%
|
Companys operating income in 2017 over its 2016 operating income.
The officers listed above are not eligible to receive a TIP
payout if the Company (and/or an applicable business segment)
does not achieve growth in operating income in 2017. Operating
income is measured on a consolidated or business segment level
basis, as applicable to each individuals award. For Messrs.
Easterbrook and Ozan the payout will be based on consolidated
performance. For Mr. Goare, the payout will be based on a
combination of the performance of the International Lead Markets
segment and consolidated performance; and for Mr. Kempczinski,
the payout will be based upon a combination of the performance of
McDonalds USA and consolidated performance.
the officers listed above may also be impacted, positively or
negatively, by the Companys performance against certain
pre-established modifiers that are closely linked to the Companys
business initiatives.
in 2017 is 200% of the target award.
that reported in our financial statements. Specifically, operating
income is expressed in constant currencies to more accurately
reflect underlying business trends. In addition, certain income
and/or expense items that are not indicative of ongoing results may
be excluded at the discretion of the Committee.
About McDONALD’S CORPORATION (NYSE:MCD)
McDonald’s Corporation (McDonald’s) operates and franchises McDonald’s restaurants. The Company’s restaurants serve a locally-relevant menu of quality food and drinks sold at various price points in over 100 countries. The Company’s segments include U.S., International Lead Markets, High Growth Markets and Foundational Markets and Corporate. Of the approximately 36,525 restaurants in over 120 countries, approximately 30,080 are franchised and over 6,444 are operated by the Company. McDonald’s franchised restaurants are owned and operated under various structures, including conventional franchise, developmental license or affiliate. The Company is primarily a franchisor, with over 80% of McDonald’s restaurants owned and operated by independent franchisees. Under a conventional franchise arrangement, the Company owns the land and building or secures a long-term lease for the restaurant location and the franchisee pays for equipment, signs, seating and decor. McDONALD’S CORPORATION (NYSE:MCD) Recent Trading Information
McDONALD’S CORPORATION (NYSE:MCD) closed its last trading session up +0.27 at 125.81 with 2,663,089 shares trading hands.