Coca-Cola revises pay plan to emphasize 'pay for performance'

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Coca-Cola adopted new guidelines for its 2014 equity plan, the beverage giant announced on Wednesday, helping the company to "provide significant flexibility" in who gets Coke's stock and how much.

Under a new incentive program, Coke will award stock grants in a way that "reinforces our pay-for-performance approach" to compensating employees and executives, CEO Muhtar Kent said in a release.

Coke said the new plan would put emphasis on performance shares and less on options. After the first year, equity grants will be approximately 66 percent performance shares with the remaining third comprised of options.

"Beginning in 2015, performance metrics applied to long-term awards will provide a balanced approach to incentives, increase alignment with local operations and pay for results that employees can more directly influence," the company added.