MercadoLibre Inc. filed SEC Form 8-K: Leadership Update, Financial Statements and Exhibits
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM
CURRENT REPORT
Pursuant to Section 13 or 15(d)
of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported):
April 3, 2026 (
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| Item 5.02 | Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. |
Establishment of Performance Goals under the 2026 Bonus Program
On March 31, 2026, the Board of Directors (the “Board”) of MercadoLibre, Inc. (the “Company”) established the performance goals for the Company’s bonus program for the 2026 fiscal year (the “2026 Bonus Program”). Under the 2026 Bonus Program, the bonus payout for each of Ariel Szarfsztejn (Chief Executive Officer), Marcos Galperin (Executive Chairman), Osvaldo Giménez (Fintech President), Daniel Rabinovich (Technology & Operations President), and Martin de los Santos (EVP and Chief Financial Officer) (referred to below as “NEOs”) is based on achievement of Net revenues and financial income (in constant dollars), Income from operations (in constant dollars), Total payment volume - adjusted (the total sum of all transactions paid for using Mercado Pago, including marketplace and non-marketplace transactions, excluding peer-to-peer transactions) (in constant dollars) and the Company’s Competitive Net Promoter Score. The Board has determined a target bonus for each NEO and applies an adjustment of up to + 50% or -50% to each bonus based upon the individual performance of each NEO.
The Board set each NEO’s target bonus under the 2026 Bonus Program as four months of base salary (33.33% of each NEO’s annual base salary).
Adoption of the 2026 Long Term Retention Program
On March 31, 2026, the Board approved the adoption of the 2026 Long Term Retention Program (the “2026 LTRP”) and, after taking into account a compensation competitiveness analysis carried out by the Company’s independent third-party compensation consultant, established the target award for each NEO under the 2026 LTRP. The 2026 LTRP provides the NEOs, along with other members of senior management, with the opportunity to receive cash payments annually for a period of six years (with the first payment occurring between January 1, 2027 and April 30, 2027, as determined by the Company), subject to continued employment on each payment date (other than in specified circumstances). Each award to an NEO under the 2026 LTRP is deemed to have a Grant Date (as defined in the 2026 LTRP) of January 1, 2026. Under the 2026 LTRP, each NEO shall receive:
| ● | 16.66% of half of his or her target 2026 LTRP award annually for a period of six years (with the first payment occurring between January 1, 2027 and April 30, 2027) (the “Annual Fixed Payment”); and |
| ● | on each date the Company pays the Annual Fixed Payment, each NEO will also receive a payment equal to the product of (i) 16.66% of half of the NEO’s target 2026 LTRP award and (ii) the quotient of (a) the Applicable Year Stock Price (as defined below) over (b) the average closing price of the Company’s common stock on NASDAQ during the final 60 trading days of 2025. For purposes of the 2026 LTRP, the “Applicable Year Stock Price” is the average closing price of the Company’s common stock on NASDAQ during the final 60 trading days of the fiscal year preceding the fiscal year in which the applicable payment date occurs, for so long as our common stock is listed on NASDAQ. |
The target 2026 LTRP awards for our NEOs are set forth below.
| Name | Title | Target 2026 LTRP Award (nominal) | ||||
| Ariel Szarfsztejn | Chief Executive Officer | $ | 14,000,000 | |||
| Osvaldo Giménez | Fintech President | $ | 10,000,000 | |||
| Daniel Rabinovich | Technology & Operations President | $ | 10,000,000 | |||
| Martin de los Santos | Executive Vice President & Chief Financial Officer | $ | 4,000,000 | |||
| Marcos Galperin | Executive Chairman | $ | 3,500,000 | |||
The foregoing description of the 2026 LTRP does not purport to be complete and is qualified in its entirety by reference to the full text of the 2026 LTRP, which is filed as Exhibit 10.1 to this Current Report on Form 8-K and is incorporated herein by reference.
| Item 9.01 | Financial Statements and Exhibits. |
| (d) | Exhibits. |
The following exhibits are filed herewith.
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Exhibit Number |
Description | ||
| 10.1 | MercadoLibre, Inc. 2026 Long Term Retention Program | ||
EXHIBIT INDEX
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Exhibit Number |
Description | |
| 10.1 | MercadoLibre, Inc. 2026 Long Term Retention Program | |
SIGNATURES
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.
| MercadoLibre, Inc. | |||
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Dated: April 3, 2026
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By: | /s/ Martin de los Santos | |
| Name: | Martin de los Santos | ||
| Title: | Executive Vice President and Chief Financial Officer | ||