Company: SYY
Filing Date: 2025-10-02
Form Type: DEF 14A
Source: 0000096021-25-000147
Chunk: 33

Company: SYSCO CORP
Filing Date: 2025-10-02
Form: DEF 14A
Chunk 33
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 COMPENSATION DISCUSSIONAND ANALYSIS | 36 |
| Executive Summary                   | 36 |
| How Executive Pay is Established    | 37 |
| What We Paid                        | 39 |

| Fiscal Year 2026 Executive Compensation                        | 44 |
| Stock-Related Policies                                         | 44 |
| Executive Compensation Governance andOther Information         | 46 |
| Report of the Compensation and LeadershipDevelopment Committee | 49 |

This Compensation Discussion and Analysis provides detailed information regarding the compensation of our NEO's highlighted in the Summary Compensation Table for fiscal year 2025 and also examines how their compensation aligns with the principles of our executive compensation programs. For fiscal year 2025, our NEOs were:

| Kevin P. HouricanChair of theBoard and ChiefExecutive Officer | Kenny K. CheungExecutive VicePresident, ChiefFinancial Officer | Greg D. BertrandExecutive VicePresident, Global ChiefOperating Officer | Thomas R. Peck, Jr.Executive VicePresident, ChiefInformation andDigital Officer | Ronald L. PhillipsExecutive VicePresident, ChiefHuman ResourcesOfficer |

EXECUTIVE SUMMARY Our teams adapted and executed on our strategies resulting in a positive financial performance given the backdrop of a difficult macro and industry environment. We delivered 3.2% sales growth and profit growth across adjusted EBITDA and EPS. This year of profitable growth also included market share gains, investments in our business, and robust annual cash flow. We also returned $2.25 billion to stockholders through $1.25 billion of share repurchases and $1 billion of dividend payments. Our full year operational performance included exceptional performance of our international business, continued positive momentum in our chain business in the USFS segment, and outsized growth from SYGMA. Importantly, we finished fiscal year 2025 strong across each of these drivers, in addition to improving momentum in our local business in the USFS segment. We remain focused on executing on our FY26 targets in addition to continued focus on our long-term growth.

| Sales Increased3.2%to$81.4 Billion |     | OperatingIncome decreased3.6%to$3.1 Billion |     | Net Earningsdecreased6.5%to $1.8 Billion |     | EBITDA(1)decreased1.2%to$4.0 Billion |

(1) See reconciliation in Annex I - Non-GAAP Reconciliations.

| SYSCO CORPORATION//2025 Proxy Statement | 37 |

COMPENSATION DIS