Monitor the say-on-pay vote outcome for any signal of shareholder discontent, and watch for the 2027 annual meeting (expected May 20, 2027) for updates on Berry integration progress and leverage reduction. The new 2026 Omnibus Management Share Plan, if approved, will provide equity grant runway for 2-3 years.
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Executive Summary
Amcor's 2026 definitive proxy statement details the annual meeting agenda including director re-elections, auditor ratification, say-on-pay, share repurchase authorization renewal, and approval of a new 2026 Omnibus Management Share Plan. Fiscal 2026 financial highlights include $23.5B in sales (up 57% largely from the Berry acquisition), net income of $1.1B, adjusted EPS of $4.02 (up 13% YoY), and $285M in Berry integration synergies. CEO Peter Konieczny's total compensation was $20.1M, including one-time transaction-based LTI grants; excluding those, total was $13.7M. The STI paid at 52% of target for the CEO, reflecting partial achievement of financial goals. The filing is a routine governance document with no material surprises.
Key Facts
- Annual sales of $23.5 billion and net income of $1.1 billion for fiscal 2026
- Adjusted EPS of $4.02, up 13% from $3.56 prior year
- Adjusted EBITDA of $3,673 million, up 68% from $2,186 million prior year
- Free cash flow of $1,303 million
- Achieved $285 million in Berry integration synergies, 10% ahead of expectations
- CEO Peter Konieczny total compensation $20,148,303; excluding one-time transaction-based LTI grants, $13,729,806
- CEO STI paid at 52% of target ($1,206,543); CFO STI paid at 52% of target ($328,753)
- Share repurchase authorization renewal for up to 138 million shares (30% of voting rights) through 2031
- Proposal to approve 2026 Omnibus Management Share Plan with 12.1 million new authorized shares
- No related party transactions exceeding $120,000 during fiscal 2026
- Auditor change from PwC Switzerland to PwC US effective August 14, 2026
- Fiscal year end changing from June 30 to December 31, with abbreviated transition period July 1 to December 31, 2026
Financial Impact
Routine proxy filing with no material financial impact; key financials reported: $23.5B revenue, $1.1B net income, $4.02 adjusted EPS, $3,673M adjusted EBITDA, $1,303M free cash flow
Risk Factors
- Berry integration execution risk: $650M three-year synergy target still pending
- Leverage reduction following Berry acquisition remains a priority; balance sheet deleveraging pace is key
- Change in fiscal year end may cause transitional reporting complexity
- CEO pay ratio of 246:1 (168:1 excluding one-time grants) may attract shareholder scrutiny
Investment Themes
Documents Analyzed
This report is based on 4 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| DEF 14A Filing (Primary) | 0001748790-26-000025 |
| Document: 0001748790-26-000025-index-headers.html | 0001748790-26-000025 |
| Document: 0001748790-26-000025-index.html | 0001748790-26-000025 |
| Document: 0001748790-26-000025.txt | 0001748790-26-000025 |
Track record builds as more directional reports settle.
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Oct 8, 2026 19d ago | DEFA14A | $41.72 | awaiting T+20 | — | $45.94 (+10.12%) |
Sep 29, 2026 28d ago | DEFA14A | $42.46 $45.94 | ▲ +8.20% | ▲ +7.48% | $45.94 (+8.20%) |
Sep 29, 2026 28d ago | DEF 14A | $42.46 $45.94 | ▲ +8.20% | ▲ +7.48% | $45.94 (+8.20%) |
Aug 12, 2026 10w ago | 8-K | $46.56 $43.00 | ▼ −7.65% | ▼ −5.75% | $45.94 (−1.33%) |
Jun 15, 2026 19w ago | 8-K | $41.11 $42.43 | ▲ +3.21% | ▲ +3.96% | $45.94 (+11.75%) |
US Market Status
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