Company: GGG
Filing Date: 2025-03-12
Form Type: DEF 14A
Source: 0001193125-25-052581
Chunk: 22

Company: GRACO INC
Filing Date: 2025-03-12
Form: DEF 14A
Chunk 22
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fitt, who also satisfied the service requirement in 2001, will receive this retirement benefit when she leaves the Board. The underlying plan provides that, upon retirement, an eligible non-employee director shall receive quarterly payments for five years equal to one-fourth of the annual base retainer of the non-Chair directors in effect immediately prior to the director’s retirement. The plan further provides that if an eligible non-employee director dies before retirement, payment shall be made to the director’s beneficiary (or estate if no beneficiary is designated) in one lump sum in an amount equal to the total amount of the payments that would have been made had he or she retired on the date of his or her death and survived to the date of the final payment. |

| (5) | The assumptions that were made in calculating the aggregate change in the actuarial present value of the accumulated benefit are as follows: |

| • |     | Form of payment: Five-year certain (payable quarterly). |

| (6) | Messrs. Mitau and Van Sant retired from the Board effective April 26, 2024, in accordance with the retirement standards in our Corporate Governance Guidelines. |

15 Graco Inc. 2025 Proxy Statement

COMMUNICATIONS WITH THE BOARD Our Board of Directors welcomes the submission of any comments or concerns from shareholders or other interested parties. These communications will be delivered directly to the Executive Vice President, General Counsel and Corporate Secretary. If a communication does not relate in any way to Board matters, he will deal with the communication as appropriate. If the communication does relate to any matter of relevance to our Board, he will relay the message to the Chair of the Governance Committee, who will determine whether to relay the communication to the entire Board or to the non-employeedirectors. The Executive Vice President, General Counsel and Corporate Secretary will keep a log of all communications addressed to the Board that he receives. If you wish to submit any comments or express any concerns to our Board, you may use one of the following methods:

| • |     | Write to the Board at the following address: |

Board of Directors Graco Inc. c/o Joseph J. Humke, Executive Vice President, General Counsel and Corporate Secretary P.O. Box 1441 Minneapolis, Minnesota 55440-1441

| • |     | Email the Board at boardofdirectors@graco.com |

CORPORATE GOVERNANCE DOCUMENTS The charters of the Audit, Governance, and Management Organization and Compensation Committees,