October 2014 Item 5.02
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): October 13, 2014
Avon Products, Inc.
(Exact name of registrant as specified in charter)
(State or other jurisdiction
777 Third Avenue
New York, N.Y. 10017-1307
(Address of principal executive offices) (Zip Code)
(Registrant’s telephone number, including area code)
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:
Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
INFORMATION TO BE INCLUDED IN THE REPORT
Item 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
On September 8, 2014, Avon Products, Inc. (the “Company”) announced that Robert Loughran, Vice President and Corporate Controller, will serve as acting Chief Financial Officer, effective October 2, 2014, while the Company completes its search for a Chief Financial Officer.
In connection with the foregoing, on October 13, 2014, Mr. Loughran’s compensation was adjusted to provide for the following:
Annual base salary of $400,000;
Annual incentive plan bonus target of 50% of base salary; and
An equity award of 10,000 restricted stock units that vest on the second anniversary of the grant date subject to Mr. Loughran's continued employment with the Company.
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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.
AVON PRODUCTS, INC.
/s/ Jeff Benjamin
Name: Jeff Benjamin
Title: Senior Vice President, General Counsel and Chief Ethics & Compliance Officer
Date: October 17, 2014
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