Form 8-K · Current report
Sysco 8-K, filed Sep 4, 2026
- Filed
- CIK
- 0000096021
- Accession no.
- 0000950142-26-002498
Summary
Sysco entered a first amendment to its revolving credit agreement establishing a $750 million senior unsecured delayed draw term loan facility with CoBank, ACB, and Bank of America as administrative agent, with proceeds intended in part to fund the cash consideration for its previously announced proposed acquisition of JRD Unico, Inc. and Warehouse Realty, LLC, which is anticipated to close by the third quarter of 2027. Sysco's compensation committee approved performance share units valued at $2 million for Chair and CEO Kevin P. Hourican and $1 million for Interim CFO Brandon E. Sewell, contingent on that acquisition closing, and a $700,000 cash award for Chief Human Resources Officer Ronald L. Phillips tied to his leadership of the company's AI-driven business process transformation.
Key points
- Sysco entered a first amendment to its revolving credit agreement on September 4, 2026, establishing a $750 million senior unsecured delayed draw term loan facility with CoBank, ACB, and Bank of America, N.A. as administrative agent.
- The facility has a $375 million six-year tranche and a $375 million eight-year tranche, drawable in multiple advances over one year, and ranks equal in right of payment to other borrowings under the revolving credit agreement.
- Proceeds are for general corporate purposes, including paying part of the cash consideration for the previously announced proposed acquisition of JRD Unico, Inc. and Warehouse Realty, LLC.
- Sysco's compensation committee granted performance share units valued at $2 million for Chair and CEO Kevin P. Hourican and $1 million for Interim CFO Brandon E. Sewell, plus a $700,000 cash award for Chief Human Resources Officer Ronald L. Phillips, tied to leadership continuity through the acquisition's integration and to AI-driven business process transformation.
Written by an AI model from the filing text. It can be incomplete or wrong; the filing on SEC.gov is the record.
Items reported
- 1.01Entry into a Material Definitive Agreement
- 2.03Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant
- 5.02Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers
- 9.01Financial Statements and Exhibits
From the filing
Item 1.01. Entry into a Material Definitive Agreement On April 16, 2026, Sysco Corporation (“Sysco” or the “Company”), a Delaware corporation, and its wholly-owned subsidiaries, Sysco Canada, Inc., a British Columbia corporation, and Sysco Global Holdings B.V., a Netherlands limited liability company, entered into a Credit Agreement with Bank of America, N.A., as the administrative agent, and the lenders and guarantors party thereto (the “Revolving Credit Agreement”). …
An excerpt of the text as filed with the SEC, cut for length.
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