SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported):
February 22, 2021 (
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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.
Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
|THE COCA-COLA COMPANY|
|Date: February 22, 2021||By:||/s/ Bradley M. Gayton|
|Bradley M. Gayton |
Senior Vice President and General Counsel