美国
证券和交易委员会
华盛顿，DC 20549
表格
目前的报告
根据第13或15(d)条款
证券交易法（1934年）第13条或第15(d)条规定
报告日期（最早报告事件日期）：2024年10月30日（
（依据其宪章指定的注册名称）
| (所在州或其他司法管辖区) (委员会文件号) |
（委员会 文件号） |
（IRS雇主 唯一识别号码） |
| |
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| (主要领导机构的地址) | (邮政编码) |
公司电话，包括区号：
Not Applicable
(过往名称或过往地址，如果自上次报告以来有变动)
如果所提交的表格申报旨在同时满足注册人在以下规定项下的任何一项申报义务，请选中以下适当的框（见下面的A.2指导方针）：8-K 提交是为了同时满足申报人在以下规定的任何一项下的申报义务（详见下面的A.2一般说明）：
| 根据证券法规定的425条规则的书面通信（17 CFR 230.425） |
| 依据交易所法案规则14a-12征集材料14a-12 根据《交易法案》第17节（17 CFR） 240.14a-12) |
| 预开始 根据规则通信 交易所法案14d-2(b) 根据《交易法案》第17节（17 CFR） 交易所法案240.14d-2(b)) |
| 预开始 根据规则通信 依据交易所法240.13e-4(c)进行通信事项 根据《交易法案》第17节（17 CFR） 依据交易所法240.13e-4(c)进行通信事项 |
每个交易所的名称
| 每个类别的标题 |
交易 标的 |
普通股，每股面值$0.001 ANNX | ||
在规则405下定义为新兴增长型公司的情况请打勾 (《1933年证券法》第230.405章规则或本章规则) 12b-2请勾选是否为创业板企业，即根据证券法1933年规则405条（本章第230.405条）或证券交易法1934年规则12b-2条（本章第240.12b-2条）中的定义(§240.12b-2 本章
新兴成长企业
如果是新兴成长企业，请在复选框中指明是否选择不使用延长过渡期来符合根据《证券交易法》第13(a)条规定提供的任何新的或修订的财务会计准则。☐
| 事项2.02。 | 业绩会和财务状况的结果 |
于2024年10月30日，reynolds consumer products公司发布新闻稿，宣布截至2024年9月30日的第三季度财务业绩。新闻稿副本作为附件99.1附在本次表格中。 8-K.
包括项目2.02中的信息，以及作为附件99.1附在此处的新闻稿中的相关信息，均为“提供”，不应被视为根据经修订的1934年证券交易法案（以下简称“交易法案”）第18条的目的被“申报”，也不适用于该条的责任，不被纳入公司根据经修订的1933年证券法或交易法案在此日期前后进行的任何申报中，除非在这样的申报中经特别引用明确载明。
| 项目5.02。 | 董事会离职或任期届满;选举董事;任命某些董事;某些官员的报酬安排 |
高级领导层变动
于2024年10月30日，公司宣布高级管理层和董事会（“董事会”）人员的变动。
于2024年10月24日，兰斯·米切尔通知公司，他计划辞去公司总裁和首席执行官职务，以及公司董事会成员职务，生效日期为2025年1月1日。米切尔先生将留任公司，直至他于2025年7月31日自愿退休，担任公司顾问。
根据董事会薪酬、提名和公司治理委员会（“CNG委员会”）的建议，董事会已批准对米切尔先生薪酬安排的某些方面进行调整，如下所述。
于2024年10月24日，根据CNG委员会的建议，董事会任命斯科特·E·哈金斯为公司总裁兼首席执行官，并选举哈金斯先生为董事会董事，填补米切尔先生离职造成的空缺，生效日期为2025年1月1日。哈金斯先生将担任第三类董事（米切尔先生所在的类别）直至公司2026年股东年会，且任至2026年股东年会及其继任者当选并合格为止。预计哈金斯先生不会被任命为董事会的任何委员会。
58岁的哈金斯先生自2023年11月起担任公司副总裁、首席财务官和财务主管。在2023年10月加入公司之前，哈金斯先生自2019年至2023年担任sunopta公司的首席财务官。哈金斯先生此前于2016年至2019年担任Claire's Stores Inc.的CFO。在加入Claire's之前，哈金斯先生于2012年至2016年任职于西尔斯控股，在那里担任副总裁、财务主管，以及西尔斯再保险公司总裁。哈金斯先生还曾在RCS Holdings，Inc.担任副总裁——财务、税务和投资者关系，并曾担任Pioneer Advisors的负责人。在此之前，哈金斯先生在柯奇工业公司及关联公司担任多个领导职务，包括柯奇金融产品有限责任公司总裁兼首席执行官、资本市场部首席财务官、柯奇工业公司财务主管，以及KoSa b.V.首席财务官。哈金斯先生持有亚利桑那州立大学金融学学士学位，并在西北大学凯洛格管理学院获得管理硕士学位，专业集中在金融和管理策略领域。
Huckins先生被任命为总裁兼首席执行官并被选为董事会成员，并不存在他与其他任何人之间的安排或协议。Huckins先生与公司任何董事或高管之间也没有家庭关系，他对于根据规定第404(a)条要披露的任何交易都没有直接或间接的重大利益。 S-k。 Huckins先生不会因在董事会任职而获得报酬。
董事会根据CNG委员会的建议，批准了对Huckins先生的薪酬安排的某些方面进行的更改，如下所述。
此外，在2024年10月24日，董事会任命Nathan D. Lowe为副总裁、首席财务官和财务主管，以填补Huckins先生被任命为总裁兼首席执行官而导致的空缺，自2025年1月1日起生效。现年45岁的Lowe先生自2021年1月起担任公司的财务规划和分析副总裁。在此之前，他自2019年1月至2020年12月担任财务规划与分析高级董事。Lowe先生加入该公司前，曾任GEC Packaging Technologies（Pactiv Evergreen Inc.及其子公司之一）的助理公司控制器和财务主管（2016年至2018年），以及Americold Logistics LLC国际业务的财务主管（2015年至2016年）。从2006年到2015年，Lowe先生在澳洲和美国的KPMG工作，主要与消费和工业企业合作，提供各种审计和咨询服务。他获得了澳洲麦考瑞大学的商务会计学士学位和应用金融学士学位，并且是注册会计师。
Lowe先生与任何其他人之间并没有根据其被任命为首席财务官的安排或了解。Lowe先生与公司任何董事或高管之间也没有家庭关系，他对于根据规定第404(a)条要披露的任何交易都没有直接或间接的重大利益。 S-k。
Acting upon recommendation of the CNG Committee, the Board has approved changes to certain aspects of Mr. Lowe compensation arrangements, as further described below.
Employment Arrangements with Mr. Mitchell
On October 24, 2024, acting upon the recommendation of the CNG Committee, the Board approved the following additional compensation for Mr. Mitchell, as set forth in a Transition Letter between the Company and Mr. Mitchell (the “Transition Letter”), effective January 1, 2025: (i) he will continue to receive his current level of base salary through July 31, 2025; (ii) participation in the Company’s annual incentive program for 2025 with a target amount equal to 115% of his base salary, to be paid out at the full year target value on or about September 30, 2025; (iii) participation in the Company’s long-term incentive program in a target amount equal to 350% of his base salary in 2025, to be determined on actual 2025 full year performance; (iv) a one-time equity award under the Company’s Equity Incentive Plan, as amended and restated on January 27, 2022 (the “Equity Incentive Plan”), of restricted stock units (“RSUs”), with a grant date of July 31, 2025 and a grant date fair value of approximately $3,332,500 (which represents Mr. Mitchell’s current base salary plus bonus) that will vest in full on July 31, 2026; and (v) company-paid COBRA benefits for eighteen months, commencing August 1, 2025 through February 28, 2027. In the event of Mr. Mitchell’s death, Mr. Mitchell’s beneficiary shall receive the benefit of all outstanding obligations with respect to this additional compensation.
Effective January 1, 2025, upon the appointment of Mr. Huckins as President and Chief Executive Officer, Mr. Mitchell will step down from this position and move into an advisory role to assist with the transition. Mr. Mitchell will remain a full-time employee with the Company until his voluntary retirement on July 31, 2025. Mr. Mitchell is expected to qualify for all Company retirement benefits, including Enhanced Retirement benefits received pursuant to the terms of the equity awards granted to him on each of February 1, 2023, January 24, 2024, and February 1, 2024. A description of the Company’s retirement benefits, including with respect to equity awards, is provided in the Company’s definitive proxy statement for the 2024 annual meeting of stockholders filed with the Securities and Exchange Commission on March 12, 2024.
The foregoing description of the Transition Letter is a summary and is qualified in its entirety by reference to the Transition Letter, which is attached as Exhibit 10.1 to this report and is incorporated herein by reference.
Employment Arrangements with Mr. Huckins
On October 24, 2024, Scott E. Huckins accepted a written offer from the Company establishing his compensation as President and Chief Executive Officer effective January 1, 2025 (the “CEO Offer Letter”). Mr. Huckins has also entered into an Amended and Restated Employment Agreement, effective as of January 1, 2025 (the “Amended Employment Agreement”).
Offer Letter
As the President and Chief Executive Officer, Mr. Huckins will be paid an initial annual base salary of $1,000,000 and will continue to participate in the Company’s annual incentive program, with a target annual bonus opportunity for 2025 to be increased from the current 75% of his base salary to 120% of his base salary. In addition, Mr. Huckins will continue to participate in the Company’s 2025 long-term incentive program with a target amount opportunity for 2025 to be increased from the current 190% of his base salary to 400% of his base salary.
In recognition of Mr. Huckins’ expanded role and responsibilities in connection with assuming the role of President and Chief Executive Officer, Mr. Huckins will receive a one-time equity award under the Equity Incentive Plan of RSUs, with a grant date of February 1, 2025 and a grant date fair value of approximately $500,000 that will vest ratably on February 1, 2026 and February 1, 2027.
The foregoing description of the CEO Offer Letter is a summary and is qualified in its entirety by reference to the CEO Offer Letter, which is attached as Exhibit 10.2 to this report and is incorporated herein by reference.
The Amended Employment Agreement reflects the above compensatory terms for Mr. Huckins.
Potential Payments Upon Termination or Change in Control
The Amended Employment Agreement also provides that Mr. Huckins will be eligible for severance in the event of certain types of termination as follows: (a) if Mr. Huckins is terminated without Cause (as defined in the Employment Agreement) prior to a Sale of Business (as defined in the Employment Agreement), Mr. Huckins would be entitled to receive (i) two times his base salary plus his target bonus amount, and (ii) his annual bonus at target prorated through the date of termination, in each case paid in equal installments over 24 months following the date of termination; or (b) if a Sale of Business occurs and within 12 months following the closing of such Sale of Business either Mr. Huckins is terminated without Cause, or his position is materially reduced in remuneration or scope of duties and Mr. Huckins terminates his employment, then Mr. Huckins would be entitled to receive (i) three times his base salary plus his target bonus amount, and (ii) his annual bonus at target prorated through the date of termination, in each case paid in equal installments over 36 months following the date of termination. In addition, if Mr. Huckins is terminated without Cause, then Mr. Huckins and his eligible dependents will continue to be covered by the Company’s health plan for 18 months from the date of termination.
The Amended Employment Agreement also provides that if amounts payable to Mr. Huckins in connection with a Sale of Business or other change in control would be subject to the excise tax under Section 280G of the Internal Revenue Code, then the value of those payments will either (i) be reduced to the extent necessary so that the payments will not trigger that excise tax, or (ii) be paid in full, depending on which course of action would result in the better net after-tax result for Mr. Huckins, taking into account the excise tax and any other applicable tax.
The Amended Employment Agreement provides that if Mr. Huckins breaches any of the provisions of the Restrictive Covenant Agreement, his right to receive further payments of severance amounts will be terminated.
The foregoing description of the Amended Employment Agreement is a summary and is qualified in its entirety by reference to the Amended Employment Agreement (including the Restrictive Covenant Agreement attached thereto), which is attached as Exhibit 10.3 to this report and is incorporated herein by reference.
In addition, the CNG Committee determined that all future awards granted under the Equity Incentive Plan to Mr. Huckins, including the RSUs discussed above, will provide for “double trigger” vesting upon a change in control, instead of “single trigger” vesting.
Employment Arrangements with Mr. Lowe
On October 24, 2024, Nathan D. Lowe accepted a written offer from the Company establishing his compensation as Chief Financial Officer effective January 1, 2025 (the “CFO Offer Letter”). Mr. Lowe has also entered into an Employment Agreement (“Employment Agreement”) and a Restrictive Covenant Agreement (“Restrictive Covenant Agreement”) in substantially the same form as entered into by the Company’s other executive officers, which agreements will be effective as of January 1, 2025.
Offer Letter
As the Chief Financial Officer, Mr. Lowe will be paid an initial annual base salary of $550,000 and will continue to participate in the Company’s annual incentive program, with a target annual bonus opportunity for 2025 to be increased from the current 50% of his base salary to 75% of his base salary. In addition, Mr. Lowe will continue to participate in the Company’s 2025 long-term incentive program with a target amount opportunity for 2025 to be increased from the current 50% of his base salary to 175% of his base salary.
In recognition of Mr. Lowe’s expanded role and responsibilities in connection with assuming the role of Chief Financial Officer, Mr. Lowe will receive a one-time equity award under the Equity Incentive Plan of RSUs, with a grant date of February 1, 2025 and a grant date fair value of approximately $250,000 that will vest ratably on February 1, 2026 and February 1, 2027.
The foregoing description of the CFO Offer Letter is a summary and is qualified in its entirety by reference to the CFO Offer Letter, which is attached as Exhibit 10.4 to this report and is incorporated herein by reference.
Potential Payments Upon Termination or Change in Control
The Employment Agreement provides that Mr. Lowe will be eligible for severance in the event of certain types of termination as follows: (a) if Mr. Lowe is terminated without Cause (as defined in the Employment Agreement) prior to a Sale of Business (as defined in the Employment Agreement), Mr. Lowe would be entitled to receive (i) one times his base salary, paid in equal installments over 12 months following the date of termination, and (ii) his annual bonus at target prorated through the date of termination; or (b) if a Sale of Business occurs and within 12 months following the closing of such Sale of Business either Mr. Lowe is terminated without Cause, or his position is materially reduced in remuneration or scope of duties and Mr. Lowe terminates his employment, then Mr. Lowe would be entitled to receive (i) two times his base salary plus his target bonus amount, plus (ii) his annual bonus at target prorated through the date of termination, paid in equal installments over 24 months following the Date of Termination. In addition, if Mr. Lowe is terminated without Cause, then Mr. Lowe and his eligible dependents will continue to be covered by the Company’s health plan for 12 months from the date of termination, or 18 months if such termination is within 12 months following the closing of a Sale of Business.
The Employment Agreement also provides that if amounts payable to Mr. Lowe in connection with a Sale of Business or other change in control would be subject to the excise tax under Section 280G of the Internal Revenue Code, then the value of those payments will either (i) be reduced to the extent necessary so that the payments will not trigger that excise tax, or (ii) be paid in full, depending on which course of action would result in the better net after-tax result for Mr. Lowe, taking into account the excise tax and any other applicable tax.
The Employment Agreement provides that if Mr. Lowe breaches any of the provisions of the Restrictive Covenant Agreement, his right to receive further payments of severance amounts will be terminated.
The foregoing description of the Employment Agreement is a summary and is qualified in its entirety by reference to the Employment Agreement (including the Restrictive Covenant Agreement attached thereto), which is attached as Exhibit 10.5 to this report and is incorporated herein by reference.
In addition, the CNG Committee determined that all future awards granted under the Equity Incentive Plan to Mr. Lowe, including the RSUs discussed above, will provide for “double trigger” vesting upon a change in control, instead of “single trigger” vesting.
| Item 9.01. | Financial Statements and Exhibits |
(d) Exhibits
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| Date: October 30, 2024 | ||||||
| REYNOLDS CONSUMER PRODUCTS INC. | ||||||
| By: | /s/ David Watson | |||||
| David Watson | ||||||
| General Counsel and Secretary | ||||||