Form 4: Cencora Director Dennis M. Nally Reports Acquisition of Common Stock

Director Dennis M. Nally acquired 128 shares of Cencora, Inc. common stock on August 1, 2024, in lieu of a cash retainer.

Summary

• On August 1, 2024, Dennis M. Nally, a director of Cencora, Inc., acquired 128 shares of common stock.
• The acquisition was made in lieu of a $31,250 quarterly cash retainer, as per the company's Non-Employee Director Compensation Program.
• The price per share was $244.46.
• Following the transaction, Nally directly owns 12,084 shares of Cencora common stock.

Sentiment

Score: 6

Explanation: The sentiment is neutral. It's a routine transaction related to director compensation. The director taking stock instead of cash is a slightly positive sign.

Positives

• The acquisition of shares by a director signals confidence in the company.

Industry Context

Directors receiving stock in lieu of cash compensation is a fairly common practice, aligning their interests with shareholders and conserving company cash.

Comparison to Industry Standards

• Director compensation structures vary across the pharmaceutical distribution industry.
• Some companies offer a mix of cash and stock, while others may provide more stock-based compensation to align director interests with long-term shareholder value.
• Comparing Cencora's director compensation program to companies like McKesson or Cardinal Health would provide a better understanding of its relative competitiveness.

Stakeholder Impact

• The transaction has a minor positive impact on shareholders as it aligns director interests with company performance.

Key Dates