MCK 8-K: Smart Summary

Britt J. Vitalone, Executive Vice President and CFO, has announced his retirement effective May 28, 2026, and Kenny K. Cheung has been appointed as his successor, effective May 29, 2026, with a comprehensive compensation package including sign-on awards and ongoing annual compensation.

• Executive Vice President and Chief Financial Officer Kenny K. Cheung — appointed on March 4, 2026, effective May 29, 2026, for the term of office provided by Article IV of the company's By-Laws; age 44; most recently served as Executive Vice President and CFO of Sysco Corporation since 2023; previously CFO of The Hertz Corporation from 2020 to 2023 (including guiding through Chapter 11 restructuring); held senior finance roles at Nielsen Holdings internationally for more than five years; began career at General Electric completing the Financial Management Program

• Kenny K. Cheung — Annual base salary of $1,050,000; target annual bonus opportunity equal to 125% of eligible earnings under the company's Management Incentive Plan; one-time sign-on bonus of $3,500,000 (subject to prorated repayment if employment terminates prior to the second anniversary of hire date, except in specified circumstances); sign-on restricted stock units with a grant date value of $6,000,000 under the company's 2022 Stock Plan; performance stock units for the fiscal years 2027–2029 performance period with a grant date value of $3,450,000; restricted stock units with a grant date value of $2,300,000 vesting in three equal annual installments beginning on the vesting commencement date specified in the applicable award agreement; number of units determined in accordance with the company's equity grant policy
• Britt J. Vitalone — Advisor Agreement effective July 2, 2026; monthly advisory fee of $50,000 as an independent contractor; entitled to reimbursement of reasonable expenses; no additional compensation or employee benefits under the Advisor Agreement

• Executive Vice President and Chief Financial Officer Britt J. Vitalone — retiring; gave notice on March 3, 2026; last day as CFO is May 28, 2026; will remain an employee through July 1, 2026; thereafter will serve as a non-employee advisor to the company effective July 2, 2026