Form 4: Walgreens Boots Alliance Director Acquires Phantom Stock Units as Compensation

Valerie B. Jarrett, a director at Walgreens Boots Alliance, acquired phantom stock units as part of non-employee director compensation.

Summary

• On November 1, 2024, Valerie B. Jarrett, a director of Walgreens Boots Alliance, Inc., acquired 21,141.65 phantom stock units.
• These units were issued as non-employee director compensation under the company's 2021 Omnibus Incentive Plan.
• Each phantom stock unit is equivalent to one share of Walgreens Boots Alliance common stock.
• The acquisition price was $9.46 per unit, and the total number of phantom stock units beneficially owned following the transaction is 59,968.23.
• The phantom stock units will be settled following the termination of service as a director, according to the terms of the plan.
• The total includes phantom stock units issued in lieu of dividends through October 31, 2024.

Sentiment

Score: 7

Explanation: The document is a routine disclosure of director compensation, which is generally neutral. The acquisition of phantom stock units can be seen as a positive sign of alignment between the director and shareholders.

Positives

• The acquisition of phantom stock units aligns the director's interests with those of the shareholders.
• The compensation structure is part of a pre-existing plan, suggesting a consistent approach to director compensation.

Future Outlook

The phantom stock units will be settled following the termination of service as a director, according to the terms of the 2021 Omnibus Incentive Plan.

Industry Context

Director compensation packages often include equity-based awards like phantom stock units to align the interests of directors with those of shareholders. This is a common practice among publicly traded companies.

Comparison to Industry Standards

• Director compensation packages vary widely across industries and company sizes.
• Equity-based compensation, such as phantom stock units, is a common component of director pay at companies similar in size and scope to Walgreens Boots Alliance.
• Benchmarking against peer companies would provide a more detailed assessment of the competitiveness of this compensation package.

Stakeholder Impact

• The acquisition of phantom stock units aligns the director's interests with those of the shareholders, potentially leading to better corporate governance and decision-making.
• The compensation structure is part of a pre-existing plan, suggesting a consistent approach to director compensation.

Key Dates