Company: LW
Filing Date: 2025-08-07
Form Type: DEF 14A
Source: 0001679273-25-000060
Chunk: 61

Company: Lamb Weston Holdings, Inc.
Filing Date: 2025-08-07
Form: DEF 14A
Chunk 61
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 the target PSAs.

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Relative TSR Peer Group — S&P 1500 Packaged Foods and Meats Companies

The below list reflects the companies in the S&P 1500 Packaged Foods and Meats index as of July 2024.</div>

| •B&G Foods, Inc.                
 •Calavo Growers, Inc.           
 •Cal-Maine Foods, Inc.          
 •Conagra Brands, Inc.           
 •Flowers Foods, Inc.            
 •General Mills, Inc.            
 •Hormel Foods Corporation       
 •J&J Snack Foods Corp.          
 •John B. Sanfilippo & Son, Inc. |     | •Kellanova                         
 •McCormick & Company, Incorporated 
 •Mondelez International, Inc.      
 •Pilgrim's Pride Corporation       
 •Post Holdings, Inc.               
 •The Campbell's Company            
 •The Hain Celestial Group, Inc.    
 •The Hershey Company               |     | •The J. M. Smucker Company     
 •The Kraft Heinz Company       
 •The Marzetti Company          
 •The Simply Good Foods Company 
 •Tootsie Roll Industries, Inc. 
 •TreeHouse Foods, Inc.         
 •Tyson Foods, Inc.             
 •WK Kellogg Co.                |

Adjusted EBITDA AAGR PSAs

The threshold, target, and maximum Adjusted EBITDA AAGR growth goals for each of the three years in the performance period are pre-determined percentage increases over the actual results from the prior year. Achievement is measured in annual sub-periods by comparing year-over-year growth against the three-year AAGR targets, and then the average achievement across the three-year performance period is used in determining the number of PSAs earned under the Adjusted EBITDA AAGR performance metric.

The three-year Adjusted EBITDA AAGR targets are intended to be challenging and appropriately incentivize management to continue to grow Adjusted EBITDA. Targets are aligned with our long-term, multi-year growth expectations as communicated publicly to investors, and a rigorous process is undertaken to determine the range of performance for each measure. The Compensation Committee relies upon its experience and business judgment in establishing goals and believes they are set at levels that require strong performance for a target payout and exceptional performance for maximum payout. We do not disclose the forward-looking three-year performance targets for our PSAs, as the disclosure could result in competitive harm and be detrimental to our operating performance. However, at the