Item 5.02. Departure of Directors or Certain Officers; Election of Directors;
Appointment of Certain Officers; Compensatory Arrangements of Certain
Officers.
On December 17, 2021, the Board of Directors of The Coca-Cola Company (the
"Company") increased the size of the Board to 12 members and elected Herbert A.
Allen III as a Director of the Company. Mr. Allen was appointed to the Finance
Committee, effective immediately following his election.
Mr. Allen will participate in The Coca-Cola Company Directors' Plan, effective
January 1, 2020 (the "Compensation Plan"), pursuant to which in 2021 he will be
entitled to a prorated portion of the annual compensation paid to outside
directors, consisting of $90,000 to be paid in quarterly installments in cash
and $200,000 to be paid in deferred share units. The Compensation Plan is
described further starting on page 36 of the Company's proxy statement for its
2021 Annual Meeting of Shareowners filed with the Securities and Exchange
Commission on March 4, 2021.
There are no transactions in which Mr. Allen has an interest requiring
disclosure under Item 404(a) of Regulation S-K. There is no arrangement or
understanding between Mr. Allen and any other persons pursuant to which he was
selected as a director.
A copy of the Company's press release announcing the election of Mr. Allen to
the Board is attached to this report as Exhibit 99.1 and is incorporated herein
by reference.
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