Company: SYY
Filing Date: 2025-10-02
Form Type: DEF 14A
Source: 0000096021-25-000147
Chunk: 41

Company: SYSCO CORP
Filing Date: 2025-10-02
Form: DEF 14A
Chunk 41
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 |                   |   2,677,500 | 350%                                |    |
| Ronald L. Phillips      |                   |   2,118,000 | 300%                                |    |

(1) Mr. Hourican’s Target LTIP Award opportunity increased from 889% to 893% for fiscal year 2025. (2) Mr. Cheung’s Target LTIP Award opportunity increased from 325% to 375% for fiscal year 2025. (3) Mr. Bertrand’s Target LTIP Award opportunity increased from 35 0% to 400% for fiscal year 2025. PSUs The PSUs constituted 50% of the total value attributed to the Fiscal Year 2025 LTIP Awards, reflecting the CLD Committee’s preference for granting PSUs as a means to create stockholder value and drive Sysco’s stock price upward. PSUs offer NEOs the opportunity to receive shares of Common Stock based on performance metrics assessed over a three-year performance period, incorporating three variably weighted performance metrics. The CLD Committee established performance goals, including threshold, target, and maximum levels for each of the performance metrics. Progress is tracked annually, and the final payout for the Fiscal Year 2025 LTIP will be determined based on the average performance over the entire three-year performance period. Payout levels are tied to performance with threshold, target and maximum attainment resulting in payouts of 50%, 100% and 200% of the target, respectively. PSUs follow a cliff vesting structure, with vesting occurring at the end of three-year performance period, during which dividend equivalents accrue and are paid when, and only to the extent that, the related PSUs are earned. For fiscal year 2025, PSUs are contingent on the achievement of the following performance metrics, assessed from fiscal years 2025 through 2027. • Earnings Per Share (37.5%): Vesting based on the achievement of targeted incremental growth in adjusted earnings per share. • Return on Invested Capital (37.5%): Vesting based on the achievement of targeted return on invested capital. • Revenue (25%): Vesting based on the achievement of targeted revenue growth. Upon evaluating the performance metrics, the total number of shares earned will be adjusted based on Sysco’s TSR relative to companies in the S&P 500 over the three year performance period. This adjustment, applied to the target number of shares, allows for up to a 25%