Coca-Cola has awarded the Spaniard Manuel Arroyo, executive vice president and commercial director of the group, 120,996 shares of the company, as reported by the manager. These titles are valued at about 7.2 million dollars (about 6.5 million euros) and are part of the remuneration of the company's director. The Spanish He was promoted in December with effect from January 1 of this year.
The company has not yet recorded its remuneration report with the amounts accrued for all concepts, but it has recorded the movements in shares. Coca-Cola delivered those 120,996 shares in application of the company's 2020-2023 incentive program, although it immediately retained 54,226 shares (valued at just over 3.2 million) to meet the tax obligations derived from that remuneration. according to the communication registered with the United States Securities and Exchange Commission (the SEC, for its acronym in English). The date of operations was February 15 and the reference price was $59.29.
Although Arroyo has moved up the company's organizational chart Until that position of executive vice president, compensation in shares is somewhat lower than that of a year ago, which totaled 8.2 million dollars in shares. This apparent paradox is explained by two reasons. First, Arroyo's promotion became effective on January 1, without time to influence compensation. And second, a year ago it received more shares (137,718), since deliveries derived from the normal remuneration plan (101,428 shares) overlapped with others (36,290) due to the incentive plan put in place to get out of the pandemic (called Emerging stronger, Coming out stronger).
Without knowing the details of his 2023 salary, Stream He achieved a remuneration of 7.35 million dollars (about 6.9 million euros) charged to the 2022 financial year as general director of marketing of the group, as reported by the American company at the time. That remuneration, slightly lower than the 7.5 million the previous year, It was the fourth largest amount among the main executives of the company based in Atlanta (Georgia, USA). As global commercial head, he was already on the same stock-based compensation scale as that of an executive vice president.
For his part, Quincey James, president of the company, also announced this Tuesday the receipt of 443,544 shares, valued at approximately 26.2 million dollars. Also in your case, the allocation is less than the 522,000 titles a year ago.
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