Item 5.02 Departure of Directors or Certain Officers; Election of Directors;
Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
On February 18, 2021, the Talent and Compensation Committee (the "Committee") of
the Board of Directors (the "Board") of The Coca-Cola Company (the "Company")
approved a special one-time incentive payment to senior executives, including
the Named Executive Officers, equating to 30% of their annual target bonus
amount that had been set in February 2020 under The Coca-Cola Company
Performance Incentive Plan. The Committee determined this amount was appropriate
based on collective leadership efforts that led to improved performance trends
in the second half of the year, resilience of the organization in the face of
the COVID-19 pandemic and successful strategic reorganization of the Company.
The Committee also considered the fact that discretionary incentive payments
were made to non-executive employees under a one-time broad-based program
intended to reward performance during the pandemic.
James Quincey, Chairman of the Board and Chief Executive Officer $960,000
John Murphy, Executive Vice President and Chief Financial Officer $315,000
Manuel Arroyo, Chief Marketing Officer
$236,250
Brian J. Smith, President and Chief Operating Officer $455,175
The Committee also approved an incentive payment of $236,250 for James L.
Dinkins who, as previously disclosed, will retire from the Company on February
28, 2021.
© Edgar Online, source Glimpses