Business Context and Reporting Period
This Form 8-K Current Report was filed by McKesson Corporation on April 1, 2022, covering events occurring on March 31, 2022. The filing primarily addresses corporate governance changes regarding the Board of Directors.
Key Financial Metrics
The filing text does not provide a clear value for revenue, profit, cash flow, margins, debt, or liquidity. This report focuses on personnel appointments rather than financial performance data.
Material Changes
The material change reported is the election of W. Roy Dunbar as a director of the Corporation, effective April 1, 2022. He has been appointed to the Audit Committee and the Governance Committee. Mr. Dunbar brings prior executive experience from Network Solutions, LLC, MasterCard, and Eli Lilly and Company.
Compensatory Arrangements and Governance
- Cash Retainer: Mr. Dunbar will receive an annual cash retainer of $110,000, prorated based on his election date.
- Equity Award: Effective May 10, 2022, he will receive Restricted Stock Units (RSUs) under the 2013 Stock Plan. The number of units is determined by dividing $55,726.03 by the closing stock price on May 10, 2022.
- Indemnification: Mr. Dunbar entered into the Company's standard Indemnification Agreement for directors effective April 1, 2022.
Investor Verification Checklist
- Verify the closing price of McKesson common stock on May 10, 2022, to calculate the exact number of RSUs granted to Mr. Dunbar.
- Confirm Mr. Dunbar's current board service at SiteOne Landscape Supply, Inc., Johnson Controls International plc, and Duke Energy Corp.
- Review the attached news release (Exhibit 99.1) for additional context on the Board's strategic direction.