Company: CAG
Filing Date: 2025-08-06
Form Type: DEF 14A
Source: 0000023217-25-000054
Chunk: 27

Company: CONAGRA BRANDS INC.
Filing Date: 2025-08-06
Form: DEF 14A
Chunk 27
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 2025. Consistent with our shareholders’ preference, last indicated at our 2024 Annual Meeting of Shareholders, we give our shareholders an opportunity to vote on our named executive officer compensation annually. As described under “Compensation Discussion and Analysis” and “Executive Compensation” below, our executive compensation program is designed to:

| ●reward performance●drive focus, engagement, and execution●support our business strategies | ●discourage excessive risk-taking●make us competitive with other organizations for top talent, and●align the interests of our executive officers with the interests of our shareholders |

Consistent with our pay-for-performance philosophy, in fiscal 2025:

| ● | Our named executive officers’ fiscal 2025 compensation opportunity was tied meaningfully to Company performance |

| ● | 89% of our CEO’s compensation and 80% of our other named executive officers’ compensation was at risk |

Our incentive plan payouts demonstrated strong alignment with Company performance and our shareholders:

| ● | Our Annual Incentive Plan paid out below target at 74.3% |

| ● | Our fiscal 2023 to 2025 Performance Shares paid out below target at 70.1% |

We believe we demonstrated strong responsiveness to shareholder feedback following last year’s Say-on-Pay vote (as more fully described below in the Compensation Discussion & Analysis section) by making plan design changes and reaffirming our previous commitments regarding special equity grants. For the reasons described in the Compensation Discussion and Analysis, we believe our executive compensation program is designed to link pay to performance. Accordingly, we are asking our shareholders to vote to support our named executive officer compensation as described in this Proxy Statement by approving the following resolution: RESOLVED, that the compensation paid to the Company’s named executive officers, as disclosed pursuant to the compensation disclosure rules of the SEC, including the Compensation Discussion and Analysis, compensation tables, and narrative discussion in this Proxy Statement, is hereby APPROVED. This vote is not intended to address any specific item of our compensation program, but rather to address our overall approach to our named executive officer compensation. While this vote is advisory and not binding on our Company, the Board and its HR Committee value the opinions of our shareholders and expect to consider the outcome of the vote, along with other relevant factors, when considering named executive officer compensation in the future.

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| ✓ | Our Board recommends that you vote FOR this proposal 2, on an advisory basis, to approve our named executive officer compensation. |

Compensation Committee Report