UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM
CURRENT REPORT
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| Item 5.02. | Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. |
On September 12, 2023, Premier, Inc. (the “Company”) announced Leigh Anderson has been appointed Chief Operating Officer of the Company, effective as of September 12, 2023. Mr. Anderson had previously been President of Performance Services of the Company.
In connection with Mr. Anderson’s promotion, based on the recommendation of the Compensation Committee (the “Committee”) of the Board of Directors of the Company (the “Board”), the Board approved the following changes to his fiscal 2024 compensation package:
| Compensation Element |
Fiscal 2023 |
Fiscal 2024 |
Percentage Increase | |||||||||
| Base Salary |
$ | 608,465 | $ | 670,000 | 10.11 | % | ||||||
| AIP Target |
75 | % | 75 | % | 0 | % | ||||||
| Equity Target |
225 | % | 275 | % | 34.7 | % | ||||||
The Committee and the Board determined it would be in the best interest of the Company and its stockholders to make the compensation changes set forth above to promote retention and recognize and incentivize the continued performance and value to the Company of Mr. Anderson.
Any information with respect to Mr. Anderson required to be disclosed under Items 401(b), (d), (e) and Item 404(a) of Regulation S-K pursuant to Item 5.02(c)(2) of Form 8-K has been included in the Company’s most recent proxy statement on Schedule 14A filed with the Securities and Exchange Commission on October 19, 2022.
On September 12, 2023, the Company issued a press release announcing the appointment of Mr. Anderson, a copy of which is furnished as Exhibit 99.1 to this Form 8-K, and is incorporated herein by reference.
| Item 9.01. | Financial Statements and Exhibits. |
(d) Exhibits.
| 99.1 | Press release of Premier, Inc., dated September 12, 2023. | |
| 104 | Cover Page Interactive Data File (the cover page XBRL tags are embedded within the Inline XBRL document) | |
SIGNATURES
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, thereunto duly authorized.
| Premier, Inc. | ||||||
| Date: September 12, 2023 | By: | /s/ Michael J. Alkire | ||||
| Name: | Michael J. Alkire | |||||
| Title: | President and Chief Executive Officer | |||||