Company: CAG
Filing Date: 2025-08-06
Form Type: DEF 14A
Source: 0000023217-25-000054
Chunk: 63

Company: CONAGRA BRANDS INC.
Filing Date: 2025-08-06
Form: DEF 14A
Chunk 63
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 named executive officers, specifically: 28,431 shares for Mr. Connolly; 7,198 shares for Messrs. Marberger, McGough; and 2,159 shares for Mr. Eboli. |

Pension Benefits—Fiscal 2025 Conagra Brands previously maintained a non-contributory defined benefit pension plan for eligible employees (the Qualified Pension). The Qualified Pension was closed to new participants who joined the Company on or after August 1, 2013. As a result, Messrs. Connolly, Marberger, and Eboli and Ms. O’Mara are not eligible to participate. Of the named executive officers, only Mr. McGough currently participates in this plan. In the Qualified Pension, the pension benefit formula for the named executive officer participants is determined by adding two components:

| ● | A multiple—0.9%—of Average Monthly Earnings (up to the integration level) multiplied by years of credited service. |

| ● | A multiple—1.3%—of Average Monthly Earnings (over the integration level) multiplied by years of credited service. |

“Average Monthly Earnings” is the monthly average of the executive’s annual compensation from the Company, up to the IRS limit, for the highest five consecutive years of the final ten years of his service. Only salary and annual incentive payments (reported in the “Non-Equity Incentive Plan Compensation” column of the summary compensation table year to year) are considered for the named executive officers in computing Average Monthly Earnings. The integration level is calculated by the IRS by averaging the last 35 years of Social Security taxable wages, up to and including the year in which the executive’s employment ends. Messrs. Connolly, Marberger, and Eboli and Ms. O’Mara are excluded from the table below because they are not eligible to participate in the Qualified Pension. Participants become vested in the pension benefit once they have 5 years of service with the Company; Mr. McGough is vested. Pension benefits become payable at age 65. There is no difference in the benefit formula upon an early retirement, and there is no payment election option that would impact the amount of annual benefits any of the named executive officers would receive. The Qualified Pension was frozen effective December 31, 2017. Credited service and Average Monthly Earnings were frozen as of such date.

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