Boston Beer (SAM) has released an update.
The Company has delineated its executive compensation for fiscal year 2023, including cash bonuses and base salary increases for its named executive officers (NEOs), based on the achievement of specific company goals. Cash bonuses were determined by the Compensation Committee and are scheduled for payment in March 2024. Additionally, the Committee approved base salary increases for 2024 and long-term equity awards consisting of time-based and performance-based restricted stock units (RSUs). A new retirement provision for equity awards, allowing for post-retirement vesting, was also established. Looking ahead, the Committee has set the 2024 cash bonus targets and company goals, which will be used to calculate bonus payouts for the following year.
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