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KRFT > SEC Filings for KRFT > Form 8-K on 3-Sep-2013All Recent SEC Filings

Show all filings for KRAFT FOODS GROUP, INC.



Change in Directors or Principal Officers, Financial Statements and Exhib

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

On September 3, 2013, we announced that Teri List-Stoll has joined Kraft as Senior Vice President of Finance and will succeed current Chief Financial Officer Timothy McLevish in the first quarter of 2014. During this transition period, Mr. McLevish will also serve as our principal accounting officer, succeeding James Kehoe.

Prior to joining Kraft, Ms. List-Stoll, age 50, served as Senior Vice President and Treasurer of The Procter & Gamble Company, a consumer packaged goods company, since 2008. She has held a number of finance leadership roles in business unit management, supply chain, sales, accounting, and financial planning and analysis since joining Procter & Gamble in 1994. Prior to that, Ms. List-Stoll was a fellow with the Financial Accounting Standards Board and spent six years at Deloitte & Touche, providing financial counsel to large multinational companies. She is also a board and audit committee member of Danaher Corporation and a founding member of the Corporate Women's Executive Forum.

The Compensation Committee of our Board of Directors approved the terms of Ms. List-Stoll's compensation as Chief Financial Officer upon succeeding Mr. McLevish as follows: base salary of $710,000, target annual incentive of 90% of base salary and long-term incentive target of $1,500,000. In addition, Ms. List-Stoll received a cash sign-on incentive of $500,000 and stock sign-on incentives as follows: $1.1 million of stock options vesting 50% on February 28, 2014, 30% on February 18, 2015 and 20% on February 18, 2016; $1.1 million of restricted stock units vesting 50% on February 28, 2014, 30% on February 18, 2015 and 20% on February 18, 2016; $1.2 million of restricted stock units vesting 100% on February 12, 2018; $300,000 of restricted stock units vesting 100% on September 6, 2016; and $300,000 of stock options vesting 33% on September 3, 2014, 33% on September 3, 2015 and 34% on September 3, 2016.

A copy of the press release is filed as Exhibit 99.1 to this Current Report on Form 8-K and is incorporated herein by reference.

Item 9.01. Financial Statements and Exhibits.

(d) The following exhibit is filed with this Current Report on Form 8-K.

Exhibit No. Description
99.1 Kraft Foods Group, Inc. Press Release, dated September 3, 2013.

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