Company: BRID
Filing Date: 2025-01-29
Form Type: 10-K
Source: 0001493152-25-004182
Chunk: 388

Company: BRIDGFORD FOODS CORP
Filing Date: 2025-01-29
Form: 10-K
Item: Item 4
Chunk 388
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    2027
     
    $
    533

    2028
     
    $
    532

    2029
     
    $
    522

    2030-2033 
     
    $
    2,581

Incentive Compensation Plan for Certain Key
Executives

We provide an incentive compensation
plan for certain key executives, which is based upon our pretax income. The payment of these amounts is generally deferred over three
or five-year periods. The total amount payable related to this arrangement was $2,267 and $3,848 as of November 1, 2024, and November
3, 2023, respectively. Future payments are approximately $1,531, $694, $33 and $9 for fiscal years 2025 through 2028, respectively.

Postretirement Healthcare Benefits for Selected
Executive Employees

We provide postretirement
health care benefits for selected executive employees. Net periodic postretirement healthcare (benefit) cost is determined using assumptions
as of the beginning of each fiscal year, except for the total actual benefit payments and the discount rate used to develop the net periodic
postretirement benefit expense, which is determined at the end of the fiscal year.

Net periodic postretirement
healthcare cost (benefit) consisted of the following:

Schedule Net Periodic Post-retirement Healthcare (benefit) Cost 

    November 1, 2024  
    November 3, 2023 

    (52 Weeks)  
    (53 Weeks) 
  
    Interest cost 
    $38  
    $22 
  
    Amortization of actuarial gain 
     (12) 
     (17)
  
    Service cost 
     8  
     4 
  
    Net periodic postretirement healthcare cost 
    $34  
    $9 

Weighted average assumptions
for the fiscal years ended November 1, 2024, and November 3, 2023, are as follows:

Schedule of Health Care Cost Trend Rates 

    2024  
    2023 
  
    Discount rate 
     5.16% 
     5.96%
  
    Medical trend rate next year 
     7.00% 
     7.50%
  
    Ultimate trend rate 
     5.00% 
     5.00%
  
    Year ultimate trend rate