Business Context and Reporting Period
Company: McKesson Corporation
Filing Type: Form 8-K (Current Report)
Date of Report: July 14, 2009
Event: Item 8.01 - Other Events regarding executive compensation policy.
Financial Metrics
The filing text does not provide a clear value for revenue, profit, cash flow, margins, debt, or liquidity. This report addresses a corporate governance matter rather than financial performance.
Material Changes
On July 14, 2009, the Compensation Committee of the Board of Directors determined that the Company will not enter into new employment agreements with Executive Officers, nor materially amend existing agreements, if such agreements provide for the payment or reimbursement of excise taxes payable under Section 4999 of the Internal Revenue Code of 1986 (the "Golden Parachute" excise tax) resulting from a change in control.
Guidance, Outlook, and Risks
Management Commentary: The decision reflects a policy change to avoid tax reimbursements for executives in the event of a change in control.
Risks/Contingencies: The filing does not disclose new financial risks or contingencies beyond the scope of this compensation policy adjustment.
Key Facts for Investor Verification
- The Compensation Committee explicitly prohibited new or amended executive agreements that reimburse Section 4999 excise taxes.
- This policy applies to Executive Officers as defined by Federal securities laws.
- The decision was made effective as of July 14, 2009.
- No financial data or operational metrics are included in this specific filing.