Summary by Futu AI
On August 21, 2024, The Coca-Cola Company announced the approval of supplemental award notifications by its Talent and Compensation Committee. These supplements apply to certain 2022 and 2023 restricted stock unit agreements and performance share unit agreements under the company's 2014 Equity Plan. The provisions offer benefits to employees with outstanding awards in cases of involuntary termination due to workforce reduction, internal reorganization, or job elimination, as well as voluntary separations. Benefits include the continued vesting of unvested performance share units and restricted stock units with a vest date within 10 months of termination, subject to performance criteria. However, all other unvested awards will be forfeited. Terminated employees must sign a release of claims and potentially a confidentiality and non-competition agreement to receive these benefits. The supplements are designed to align with terms for similar awards granted in 2024.