Business Context and Reporting Period
This Form 8-K filing by McKesson Corporation (MCKESSON CORP) reports a corporate governance event dated April 24, 2018. The filing was signed on April 30, 2018.
Key Financial Metrics
This filing does not contain financial performance data such as revenue, profit, cash flow, margins, debt, or liquidity metrics. The document focuses exclusively on the appointment of a new director.
Material Changes
The Board of Directors elected Bradley E. Lerman as a new director, effective April 24, 2018. Consequently, the size of the Board increased from eight to nine members. Mr. Lerman was determined to be independent under NYSE and Company standards.
Guidance, Outlook, and Compensation
Mr. Lerman will receive compensation in accordance with the Company's standard arrangement for non-employee directors, prorated for the remainder of the fiscal year. He was granted Restricted Stock Units (RSUs) with a grant date value of $45,000. The grant date is set for May 30, 2018, or the next available trading window following the release of Q4 fiscal year 2018 earnings. No specific financial guidance or outlook was provided in this filing.
Investor Verification Checklist
- Verify the independence status of Bradley E. Lerman as disclosed in the filing.
- Confirm the final number of RSUs granted based on the closing stock price on the grant date (May 30, 2018).
- Review the Company's definitive proxy statement for the 2017 Annual Meeting for details on the standard non-employee director compensation program.
- Check for any subsequent filings regarding Mr. Lerman's assignment to Board committees.