Business Context and Reporting Period
Company: Graphic Packaging Holding Company
Filing Type: Form 8-K (Current Report)
Date of Report: May 18, 2012
Subject: Entry into a Material Definitive Agreement regarding executive compensation.
Key Financial Metrics
This filing does not contain financial performance data such as revenue, profit, cash flow, margins, debt, or liquidity. The document focuses exclusively on a specific amendment to an executive retirement plan.
Material Changes
The Company approved the First Amendment to the Supplemental Plan for Participants in the Riverwood International Employees Retirement Plan. The material change involves:
- Beneficiary: David W. Scheible, President and Chief Executive Officer.
- Change: Modification of the benefit formula to equal 2% of his average final salary multiplied by years of benefit service, less accrued benefits from other qualified and nonqualified plans.
- Effective Date: July 1, 2012.
- Unchanged Terms: Early retirement reductions, accruals while disabled, pre-retirement death benefits, and optional forms of payment remain the same.
Guidance, Outlook, and Risks
The filing contains no guidance, outlook, management commentary on operations, or discussion of risks and contingencies beyond the specific terms of the retirement plan amendment.
Investor Verification Checklist
- Verify the full text of the First Amendment attached as Exhibit 10.1.
- Confirm the calculation of "average final salary" and "years of benefit service" as defined in the Riverwood International Employees Retirement Plan.
- Review the impact of this amendment on the Company's total compensation expense for the fiscal year ending after July 1, 2012.