Company: LW
Filing Date: 2025-08-07
Form Type: DEF 14A
Source: 0001679273-25-000060
Chunk: 49

Company: Lamb Weston Holdings, Inc.
Filing Date: 2025-08-07
Form: DEF 14A
Chunk 49
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 talent to the executive team with the hiring of Sylvia Wilks as Chief Supply Chain Officer and Benjamin Heselton as Chief Information Officer; and

• Delivered new innovative products for customers and consumers globally.

For fiscal 2026, we announced an updated long-term strategic growth plan, including a new incremental cost savings program, to address a dynamic market environment, including anticipated continued pressure on global consumers from macroeconomic and geopolitical events, to generate attractive returns and shareholder value over the long term.

#### Fiscal 2025 Compensation Highlights
Pay delivery under our incentive plans was aligned with our performance. Based on its assessment of performance in fiscal 2025, the Compensation Committee approved the performance results and corresponding payouts for the following awards (as discussed further below under the sections entitled “—What We Pay and Why—Annual Cash Incentive Compensation (Annual Incentive Plan)” and “—What We Pay and Why—Long-Term Incentive Compensation (LTIP)—Outstanding Performance Share Awards”):

• Annual Incentive Plan ("AIP"): The target net sales and Adjusted EBITDA performance goals for the fiscal 2025 AIP, which were aligned with our annual operating plan for the year, required year-over-year growth of 8.2% and 3.4%, respectively. Our fiscal 2025 net sales and Adjusted EBITDA growth were below our expectations ((0.3)% and (13.8)%, respectively), and neither met the threshold goals under our 2025 AIP, resulting in no payout under the plan.

• Performance Share Awards ("PSAs"): The PSA component of our long-term incentive program, comprising 60% of target long-term incentive grant value, is based 50% on Adjusted EBITDA average annual growth rate ("AAGR") and 50% on relative TSR, both measured over a three-year performance period. The three-year Adjusted EBITDA AAGR goals for the PSAs are set to support our long-term, multi-year growth expectations as communicated publicly to investors. Our fiscal 2025 Adjusted EBITDA growth did not meet the minimum threshold goal under the PSA program, resulting in each of the Year 1 tranche of the fiscal 2025-2027 PSAs, Year 2 tranche of the fiscal 2024-2026 PSAs and Year 3 tranche of the fiscal 2023-2025 PSAs not being earned. Our relative TSR for fiscal 2023-2025 ranked at