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EX-10.1 - EX-10.1 - HENRY SCHEIN INCd398572dex101.htm

 

 

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

 

 

FORM 8-K

 

 

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): May 31, 2017

 

 

Henry Schein, Inc.

(Exact name of registrant as specified in its charter)

 

 

 

Delaware   0-27078   11-3136595

(State or other jurisdiction

of incorporation)

  (Commission File Number)  

(I.R.S. Employer

Identification No.)

 

135 Duryea Road, Melville, New York   11747
(Address of principal executive offices)   (Zip Code)

Registrant’s telephone number, including area code: (631) 843-5500

(Former name or former address, if changed since last report.)

 

 

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

 

Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

 

Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

 

Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

 

Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§ 230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§ 240.12b-2 of this chapter).

Emerging growth company  ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.  ☐

 

 

 


Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

On May 31, 2017, Henry Schein, Inc. (the “Company”) held its Annual Meeting of Stockholders (the “Annual Meeting”). At the Annual Meeting, the Company’s stockholders approved an amendment (the “Amendment”) to the Henry Schein, Inc. Section 162(m) Cash Bonus Plan to extend the term of the plan to December 31, 2021 and to re-approve the performance goals thereunder.

The foregoing summary of the Amendment does not purport to be complete and is subject to, and qualified in its entirety by, the full text of the Amendment, which is attached hereto as Exhibit 10.1 and incorporated herein by reference.

 

Item 5.07 Submission of Matters to a Vote of Security Holders.

At the Annual Meeting, the Company’s stockholders considered: (1) the election of fifteen directors of the Company for terms expiring in 2018; (2) a proposal to amend the Henry Schein, Inc. 162(m) Cash Bonus Plan to extend the term of the plan to December 31, 2021 and to re-approve the performance goals thereunder; (3) a proposal to consider approval, by non-binding vote, of the 2016 compensation paid to the Company’s Named Executive Officers (as defined in the Company’s Proxy Statement dated April 10, 2017), commonly known as the “say-on-pay” proposal; (4) a proposal to consider approval, by non-binding vote, of the frequency of future advisory votes on executive compensation, commonly known as the “frequency of say-on-pay” proposal; and (5) the ratification of the selection of BDO USA, LLP as the Company’s independent registered public accounting firm for the fiscal year ending December 30, 2017. The voting results at the Annual Meeting, with respect to each of the matters described above, were as follows:

 

1. The fifteen directors were elected based upon the following votes:

 

     For    Against    Abstain    Broker
Non-Votes

Barry J. Alperin

       62,152,867        3,692,993        43,407        5,928,305

Lawrence S. Bacow, Ph.D.

       65,590,541        247,961        50,765        5,928,305

Gerald A. Benjamin

       64,704,737        1,151,143        33,387        5,928,305

Stanley M. Bergman

       62,935,135        2,849,088        105,044        5,928,305

James P. Breslawski

       64,706,598        1,158,727        23,942        5,928,305

Paul Brons

       65,357,733        478,319        53,215        5,928,305

Joseph L. Herring

       65,704,403        127,723        57,141        5,928,305

Donald J. Kabat

       62,197,046        3,638,102        54,119        5,928,305

Kurt P. Kuehn

       65,700,174        130,128        58,965        5,928,305

Philip A. Laskawy

       63,537,878        2,308,440        42,949        5,928,305

Mark E. Mlotek

       64,707,798        1,152,352        29,117        5,928,305

Steven Paladino

       60,699,519        5,152,639        37,109        5,928,305

Carol Raphael

       65,703,731        149,718        35,818        5,928,305

E. Dianne Rekow, DDS, Ph.D.

       65,727,577        129,168        32,522        5,928,305

Bradley T. Sheares, Ph.D.

       65,478,912        373,784        36,571        5,928,305

 

2. The proposal to amend the Henry Schein, Inc. Section 162(m) Cash Bonus Plan to extend the term of the plan to December 31, 2021 and to re-approve the performance goals thereunder was approved based upon the following votes:

 

For

 

Against

 

Abstain

 

Broker Non-Votes

65,008,445   790,147   90,675   5,928,305

 

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3. The 2016 compensation paid to the Company’s Named Executive Officers, commonly known as the “say-on-pay” proposal, was approved, by non-binding vote, based upon the following votes:

 

For

 

Against

 

Abstain

 

Broker Non-Votes

60,150,973   3,127,786   2,610,508   5,928,305

 

4. The proposal to recommend, by non-binding vote, the frequency of future advisory votes on executive compensation, commonly known as the “frequency of say-on-pay” proposal, was approved, by non-binding vote, based upon the following votes:

 

1 Year

 

2 Years

 

3 Years

 

Abstain

60,378,911   58,650   5,394,442   57,264

 

5. The selection of BDO USA, LLP as the Company’s independent registered public accounting firm for the fiscal year ending December 30, 2017 was ratified based upon the following votes:

 

For

 

Against

 

Abstain

71,008,074   515,431   294,067

In light of the results of the advisory vote on the frequency of future say-on-pay votes, our Board of Directors has determined that the Company will hold an advisory say-on-pay vote annually. Our Board of Directors may reevaluate this determination after the next stockholder advisory vote on the frequency of say-on-pay votes.

 

Item 9.01 Financial Statements and Exhibits.

 

(d) Exhibits

 

10.1    Amendment Number Five to the Henry Schein, Inc. Section 162(m) Cash Bonus Plan, dated May 31, 2017.

 

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SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

 

   

HENRY SCHEIN, INC.

(Registrant)

Date: June 1, 2017     By:   /s/ Walter Siegel
     

Name:  Walter Siegel

Title:    Senior Vice President and General Counsel

     

 

 

 

 

 

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Exhibit Index

 

10.1    Amendment Number Five to the Henry Schein, Inc. Section 162(m) Cash Bonus Plan, dated May 31, 2017.

 

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