UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934
Date of Report (Date of earliest event reported):
(Exact Name of Registrant Specified in Charter)
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Registrant’s telephone number, including area code:
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(Former name or former address, if changed since last report)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):
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Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
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Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
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Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
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Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
Securities registered pursuant to Section 12(b) of the Act:
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Item 7.01. |
Regulation FD Disclosure. |
In light of the effect of the COVID-19 pandemic on Aramark’s business, on April 1, 2020, the Board of Directors of Aramark decided to temporarily reduce the salaries of certain of Aramark’s senior executives, including the Named Executive Officers, by 25% and to temporarily reduce the cash retainer fee of the directors by 25%, in each case effective April 6, 2020.
An employee communication dated April 1, 2020 from John Zillmer, Aramark’s Chief Executive Officer, discussing some of the measures Aramark is taking in response to the COVID-19 pandemic is furnished as Exhibit 99 to this report and incorporated by reference herein.
The information furnished pursuant to Item 7.01 of this Current Report on Form 8-K shall not be considered "filed" under the Securities Exchange Act of 1934, as amended, nor shall it be incorporated by reference into future filings by Aramark under the Securities Act of 1933, as amended or under Securities Exchange Act of 1934, as amended, unless Aramark expressly sets forth in such future filings that such information is to be considered "filed" or incorporated by reference therein.
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Item 9.01. |
Financial Statements and Exhibits. |
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(d) |
Exhibits |
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Exhibit No. |
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Description |
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99 |
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104 |
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Cover Page Interactive Data File (embedded within the Inline XBRL document). |
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SIGNATURE
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 hereunto duly authorized.
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ARAMARK |
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By: |
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/s/ Thomas G. Ondrof |
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Name: |
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Thomas G. Ondrof |
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Title: |
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Executive Vice President and Chief Financial Officer |
Dated: April 2, 2020
Exhibit 99
A Message from All U.S. Employees
April 1, 2020
One of the defining values that inspired my return to Aramark in October was the Company’s selfless passion for serving others. Never has this passion been more evident than it is today. Our team members are working tirelessly on the frontlines at hospitals, schools and other facilities, providing safe and hygienic meals, uniforms, refreshments and facility services. They are heroes working among heroes, helping us get past the acute phase of this current crisis.
Of course, I never imagined our world would face a crisis like the one created by COVID-19. None of us expected to be confronted with a pandemic that would result in closures and cancellations – including schools, colleges, businesses and sporting events – globally. While these actions are absolutely necessary to prevent the spread of this deadly virus, they have reduced our ability to serve our client partners and customers as we have done successfully for more than 80 years.
It is heart-breaking to witness the impact on people and communities around the world, on our customers and most especially, on our employees and their families.
As CEO, my priority is to safeguard our employees and position the Company for long–term, future success. In order to do this, I have had to make some incredibly hard, near-term decisions that will enable us to protect the maximum number of jobs and allow our valued team members to return to Aramark as quickly as possible.
You will receive more specific details from your business or functional leader beginning tomorrow but I want to explain the actions we are taking that impact all of us.
First, we are substantially reducing the compensation of our senior leadership team and some managers across our businesses. We are also placing some of our colleagues across the Company on temporary furlough. During this time, all employees who are enrolled in our medical plans will continue to receive full coverage.
Wherever possible, we are redeploying team members and we’ve launched a dedicated staffing center to provide temporary opportunities within our Company, as well as identify opportunities with partner companies who need additional resources.
It is an extraordinary time, full of uncertainty but we will get through it if we focus on moving forward together. We have a solid balance sheet and believe that the strength of our customer relationships, combined with what we expect will be increased demand for quality and hygiene worldwide when normalcy returns, will enable us to come out of this with renewed purpose and resolve.
Now more than ever, I ask for your resilience and perseverance as we work to build a stronger future for our employees, client partners and communities.
Sincerely,
John Zillmer