Business Context and Reporting Period
This Form 8-K is a current report filed by AmerisourceBergen Corporation (now known as Cencora, Inc.) on December 5, 2013, covering events occurring on December 1, 2013. The filing addresses amendments to the company's executive compensation structure, specifically regarding a supplemental retirement plan.
Key Financial Metrics
The filing text does not provide a clear value for revenue, profit, cash flow, margins, debt, or liquidity. This report focuses exclusively on a change to a compensatory arrangement and does not contain financial performance data.
Material Changes
The primary material change reported is the amendment and restatement of the AmerisourceBergen Corporation Supplemental 401(k) Plan, now renamed the "Benefit Restoration Plan." Key changes include:
- Renaming of the Original Plan to the Benefit Restoration Plan.
- Expansion and clarification of eligibility requirements.
- Specification of plan termination requirements.
- Confirmation that the compensation of named executive officers under this plan remains unchanged from the Original Plan.
Guidance, Outlook, and Management Commentary
Management commentary indicates the plan was implemented to address the absence of a non-legacy executive retirement plan following the 2001 merger. The Benefit Restoration Plan provides an annual contribution equal to 4% of a participant's salary and bonus to the extent that compensation exceeds IRS limits applicable to the standard 401(k) plan. The filing contains no forward-looking guidance, risk factors, or discussion of contingencies beyond the plan mechanics.
Investor Verification Checklist
- Verify the specific eligibility criteria for the Benefit Restoration Plan as detailed in Exhibit 10.1.
- Confirm that the 4% contribution rate applies only to compensation exceeding IRS limits for the standard 401(k) plan.
- Review the plan termination requirements specified in the amended document.
- Note that the registrant name in this 2013 filing is AmerisourceBergen Corporation, which later became Cencora, Inc.