{"url_path":"/sec/amccf/8-k/2026-06-15/item-5-02","section_key":"item-5-02","section_title":"Item 5.02 Departure","topic":"sec","document":{"doc_type":"8-K","doc_date":"2026-06-15","source_url":"https://www.sec.gov/Archives/edgar/data/1748790/0001104659-26-073800-index.html","accession_number":"0001104659-26-073800","cik":"0001748790","ticker":"AMCR","issuer_name":"Amcor plc","edgar_url":"https://www.sec.gov/Archives/edgar/data/1748790/0001104659-26-073800-index.html","primary_entity_key":"0001748790","primary_entity_name":"Amcor plc"},"word_count":1250,"has_tables":true,"body_markdown":"**Item 5.02. Departure\nof Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.**\n\n \n\nOn June 15, 2026, Amcor\nplc (the “Company”) announced that Fred Stephan, the Company’s\nDivision President, Global Flexible Packaging Solutions, will retire from his officer role\neffective June 30, 2026. Mr. Stephan will remain employed as a special advisor to the Company until December 31,\n2026 (the “Retirement Date”) to ensure a smooth transition of his duties. Mr. Stephan’s retirement from\nthe Company is not as a result of any disagreement with the Company.\n\n \n\nMr. Stephan\nis a party to an employment agreement with the Company’s affiliate, Amcor Flexibles North America, Inc., dated June 21,\n2019 (the “Stephan Employment Agreement”), which was modified by letter agreements dated September 5, 2024 and\nApril 30, 2025 between Amcor Flexibles North America, Inc. and Mr. Stephan (the “Stephan Letter Agreements”\nand, together with the Stephan Employment Agreement, the “Existing Employment Agreement”). In connection with Mr. Stephan’s\nretirement, he has entered into a Transition, Retirement Agreement and General Release with the Company, dated June 10, 2026 (the\n“Transition and Retirement Agreement”). Following the Retirement Date, Mr. Stephan will have no further rights\nunder the Existing Employment Agreement. The Transition and Retirement Agreement provides for the following, in exchange for Mr. Stephan’s\nexecution of a general release of claims, as well as continued compliance with the covenants in the Transition and Retirement Agreement\nand the Existing Employment Agreement: (1) continued base salary at the amount that Mr. Stephan was receiving immediately prior\nto his retirement from his officer role, and continued benefits, through the Retirement Date; (2) a cash bonus equal to the bonus,\nif any is earned, under the Company’s Management Incentive Plan (“MIP”), pro-rated to reflect the six month period\nending on the Retirement Date, at the same time such bonuses are otherwise paid; (3) accrued benefits including unused paid time\noff earned through the Retirement Date; (4) the right to elect benefit continuation coverage under COBRA; (5) vesting in full\nof any unvested Equity Management Incentive Plan awards held by Mr. Stephan on the Retirement Date; (6) for Long-Term Incentive\nPlan (“LTIP”) awards issued prior to July 1, 2025, (i) the ability to exercise vested but unexercised options\nor for 90 days after the Retirement Date, and (ii) pro-rated vesting of performance-based equity awards and options if more than\nhalf of the performance period has been satisfied as of the Retirement Date, with performance tested as of the assessment date and 90\ndays to exercise following their vesting date; and (7) other than as discussed herein, treatment of any other awards granted to Mr. Stephan\non or after July 1, 2025 in accordance with the terms and conditions of the applicable award agreements and the equity plan.\n\n \n\nIn exchange for the payments\nmade under the Transition and Retirement Agreement, Mr. Stephan provides a general release of claims as related to the Company and\nits affiliates, officers, directors, and shareholders. The Transition and Retirement Agreement and Existing Employment Agreement contain\ncustomary restrictive covenants relating to non-competition, non-solicitation, non-disparagement, and confidentiality, for which the payments\ndescribed above will serve as consideration.\n\n \n\nMr. Ryan D. Yost,\n50, has been appointed to serve as the Company’s Division President, Global Flexible Packaging Solutions, effective\nJune 15, 2026. Mr. Yost previously served as President of Avery Dennison Materials Group, a global business of Avery\nDennison Corporation, where he was responsible for the group’s overall global strategy and its short- and long-term business,\nfinancial and operating objectives. Prior to assuming that role in March 2024, Mr. Yost served as Vice President\nand General Manager of Avery Dennison Identification Solutions since 2021, and of Vestcom since 2022, where he led the\nbusinesses’ transformation into a high-growth organization focused on innovative solutions for the food, retail and logistics\nmarket segments. Mr. Yost previously served as Vice President and General Manager of Avery Dennison Printer Solutions from 2019\n- 2021, where he led global operations and commercial teams. During his more than 25 years with Avery Dennison, Mr. Yost has\nheld roles of increasing responsibility across multiple divisions of Avery Dennison, including leadership positions in operations and\nsupply chain. Prior to joining Avery Dennison, Mr. Yost was a management consultant with Ernst & Young. Mr. Yost\nreceived his BSBA from Bowling Green State University and his Master of Business Administration from Cleveland State University.\n\n \n\nIn connection with\nMr. Yost’s appointment, he entered into an offer letter with Amcor Flexibles North America, Inc., dated June 10, 2026\n(the “Yost Letter Agreement”), that sets forth employment and\ncompensation terms. Pursuant to the terms of the Yost Letter Agreement, Mr. Yost will receive an annualized base salary of US\n$1,000,000 and will participate in the MIP with a target opportunity of 100% of base salary and payouts ranging from 0% to 200% of\nbase salary based on achievement of performance targets set by the Company, with his fiscal 2026 participation pro-rated to reflect\nhis appointment date. Mr. Yost will also participate in the LTIP with annual grants made to him with respect to a number of\nshares having target grant date fair value of 300% of his base salary. Additionally, on his appointment date, Mr. Yost will\nreceive a special grant under the LTIP with respect to a number of performance shares and stock options having an anticipated target\ngrant date fair value of 195% of his base salary.\n\n \n\n \n\n \n\n \n\nMr. Yost will also receive\na one-time sign-on cash bonus of US $175,000 payable in March 2027, and a special retention equity grant at the appointment date\nof restricted stock units having a value of US $1,600,000, 50% of which will vest one year from the appointment date and the other 50%\nof which will vest two years from the appointment date. Mr. Yost will receive financial support to relocate to Deerfield, IL\nin accordance with the Company’s relocation policy.\n\n \n\nMr. Yost will be entitled\nto participate in the Company’s Executive Change in Control Severance Plan as a non-CEO participant. Mr. Yost will also be\nsubject to restrictive covenants, as set forth in the Yost Letter Agreement, including perpetual confidentiality, assignment of inventions,\nand non-solicitation and non-competition covenants that continue for twelve months following termination of employment. The notice period\nfor Mr. Yost to terminate his employment under the Yost Letter Agreement is six months’ written notice.\n\n \n\nThere are no transactions\nsince the beginning of the Company’s last fiscal year in which the Company is a participant and in which Mr. Yost or any members\nof his immediate family have any interest that are required to be reported under Item 404(a) of Regulation S-K. No family relationships\nexist between Mr. Yost and any of the Company’s directors or executive officers. The appointment of Mr. Yost was not pursuant\nto any arrangement or understanding between him and any person, other than a director or executive officer of the Company acting in his\nor her official capacity.\n\n \n\nThe foregoing descriptions\nof the Transition and Retirement Agreement and the Yost Letter Agreement are not complete, are in summary form only and are qualified\nin their entirety by reference to the full text of the Transition and Retirement Agreement and the Yost Letter Agreement, which are filed\nas Exhibits 10.1 and 10.2 to this Current Report on Form 8-K, respectively. A copy of the press release announcing the retirement\nof Mr. Stephan and the hiring of Mr. Yost is included as Exhibit 99.1 to this Current Report on Form 8-K."}