. So the hurricane — this was not a massive hurricane except for the people that were directly impacted. Unvested shares under our Executive Stock Purchase Plan, which normally are subject to forfeiture if a participant's employment terminates prior to the first anniversary of their acquisition, will vest immediately if the termination is by reason of the participant's death, disability, termination by the Company without cause, or retirement on or after the participant's normal retirement date. . . I applaud our entire organization each and every AutoZoners across the enterprise from Hawaii to South Paulo from ALLDATA to our DataZone facility in Mexico. The shares of common stock underlying any awards that are forfeited, canceled or otherwise. . . This past quarter’s gross margin included approximately $4 million and charges related to damage from civil unrest. . . . . . . . . . However, many elements of the compensation program also apply to other levels of AutoZone management. . . . . . . . As Bill mentioned before, we probably ended the quarter in reasonably good shape from the standpoint of labor and service, but certainly at the beginning of the quarter, we were trying to catch up a little bit. He served as Chief Executive Officer of PepsiCo Europe and Sub-Sahara Africa from September 2012 through January 2015. . So, as you continue to take share on the commercial side, I was just curious if you could comment on how this business has changed as a result of the pandemic and whether we — you would view the double-digit growth as sustainable going forward. . . . But to dimensionalize it, it was probably a single digit basis point impact. Compensation Discussion and Analysis . . . Finally, our continued disciplined capital management approach resulted in return on invested capital for the trailing four quarters of 38.1%. . . Frankly, our focus isn’t on what happens this new quarter. . The plan defines "disability," "cause," and "normal retirement date.". . . . . We encourage you to vote by telephone or Internet, both of which are convenient, cost-effective,and reliable alternatives to returning your proxy card by mail. . . . . . . . . . . . . . . . . . . . . . Under the Plan, participants may receive equity-based compensation in the form of stock options, stock appreciation rights, restricted stock, restricted stock units, dividend equivalents, deferred stock, stock payments, performance based awards, cash based awards and other incentive awards structured by the Compensation Committee and the Board of Directors within parameters set forth in the Plan. . . . . So we think it was the right decision and long-term it will help drive sales and ultimately help drive gross profit. . . . . . . . Distributed by Public, unedited and unaltered, on 29 October 2020 18:19:08 UTC, 6,549 stores (5,885 stores in 50 states in the U.S. 621 stores in Mexico, and 43 stores in Brazil), Ratification of the appointment of Ernst & Young LLP as our independent registered public accounting firm for the 2021 fiscal year, Approval of advisory vote on executive compensation, Approval of AutoZone, Inc. 2020 Omnibus Incentive Award Plan, The transaction of other business that may be properly brought before the meeting. . Good morning. . . . . Executive officers and certain other employees are eligible to receive annual cash incentives each fiscal year based on the Company's attainment of certain performance objectives set by the Compensation Committee at the beginning of the fiscal year. . . . . . . . When you think about the miles driven that have declined, it’s generally higher socioeconomic groups that are working from home. . . . . . . . . . . . Audit Committee . . . We recently began rolling out new technology that will significantly improve our delivery times and the accuracy of the commitments that we make to our customers. At August 29, 2020, in 5,007 of our domestic stores, we also had a commercial sales program that provides commercial credit and prompt delivery of parts and other products to local, regional and national repair garages, dealers, service stations and public sector accounts. . Since our last earnings release in late May, much of the world’s attention has been on COVID-19, its current and short-term implications and trying to evaluate the long-term ramifications of this pandemic. . Can you just discuss the DIY and commercial trends that you saw as you moved through the quarter? So that will actually I think reduce our risk on a long-term basis and should also find other opportunities for us to lower our acquisition cost. . . After one year, the shares vest, and the executive owes taxes based on the share price on the vesting date (unless a so-called 83(b) election was made on the date of grant). . . . 5 or more . . . . . As of the date of this Proxy Statement, each director meets or exceeds his or her obligations under the requirement. . . . . . . . • The Company's organizational structure; development and bench-strength through different, • Expected contribution of each executive in light, of the responsibilities inherent in his or her, • Evaluates and considers regulatory and legal, perspectives on compensation matters, rating, • The risks inherent in the annual operating plan, agency opinions on executive pay and published, investor compensation policies and position, • Considers how other factors may affect pay, decision-making, such as the Company's annual, • Coordinates with the other committees of the Board, operating plan, targeted earnings, internal pay, equity, overall financial performance and the, to identify, evaluate and address potential, • Uses the data and analysis referenced above to, formulate recommendations for the Compensation. . Security Ownership of Management and Board of Directors. . . . . . The maximum benefit of the company-paid and the additional coverage combined is $5,000,000. . . . And do you expect to push this strategy further over the next couple of quarters and so it’ll continue to have a lingering impact on the gross margin? Notwithstanding any other provision of the Plan, unless otherwise determined by the Administrator or required by any applicable law, rule or regulation, the Company and/or its Affiliates may, in lieu of delivering to any Participant certificates evidencing Shares issued in connection with any Award, record the issuance of Shares in the books of the Company (or, as applicable, its transfer agent or stock plan administrator). . . Each AutoZone store carries an extensive product line for cars, sport utility vehicles, vans and light trucks, including new and remanufactured automotive hard parts, maintenance items, accessories, and non-automotive products. . . . . . What was the first part of your question? . . . . . . . . . . . This was up approximately $600 million over last year’s Q4, with an extra week. . . If you look back to what happens every year when tax refunds come out, and it’s the DIY business — they both pick up, but the DIY business picks up even more. . . . Stock payments may, but are not required to, be made in lieu of cash compensation otherwise payable to any individual who is eligible to receive awards under the Plan. . Get parts fast with Free Next Day Delivery and Free Store Pick Up at over 5,700 locations.
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