Document
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
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SCHEDULE 14A
Proxy Statement Pursuant to Section 14(a) of the
Securities Exchange Act of 1934
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¨ Soliciting Material Pursuant to §240.14a-12
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Aramark |
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On December 26, 2018, Aramark sent an email utilizing the following template to several of its largest institutional investors in connection with its upcoming annual meeting of shareholders to be held on January 30, 2019.
We filed our definitive proxy statement (link) in advance of Aramark’s Annual Meeting on January 30th and wanted to advise you in light of the holidays. Following robust outreach this fall, engaging with holders representing ~65% of our shares outstanding, our Compensation Committee took action in response to the shareholder feedback we heard. We enhanced the disclosure in this year’s proxy statement to describe the actions taken and changes made to our compensation program.
We’re reaching out today to request a call with your team to discuss the Board and Compensation Committee’s decision-making process, in addition to answering any questions you may have as you review our proxy materials. For your reference, an overview of key compensation, governance, and disclosure enhancements is below:
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• | Eliminated the TSR Outperformance Award for the CEO’s 2019 and go-forward long-term incentive compensation |
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• | Eliminated the structural component of the Annual Incentive Plan that drove consistent use of negative discretion |
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• | Provided greater transparency and context throughout the CD&A on the process for setting performance targets and disclosed our targets in our Annual Incentive Plan |
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• | Expanded the scope of our clawback policy and adopted majority voting |
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• | Broadened the disclosure of sustainability and diversity, as well as the oversight responsibilities of the Board and its Committees |
Please let us know if there is a specific date/time that works well for a conversation between January 14th and January 25th.
We look forward to connecting with you.