Company: CHEF
Filing Date: 2025-03-26
Form Type: DEF 14A
Source: 0001517175-25-000003
Chunk: 43

Company: Chefs' Warehouse, Inc.
Filing Date: 2025-03-26
Form: DEF 14A
Chunk 43
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 plans. The Compensation Committee believed the Company and the primary peer group when selected were reasonably aligned from a financial size perspective.

• Business - The companies in the primary peer group represent multiple industry segments, including packaged foods, non-food related specialty and online retailers, other non-food related wholesalers and distributors, and trucking and warehousing. The foodservice distribution industry is a highly fragmented industry with several very large national players and numerous small, privately held local players; accordingly, it was necessary to select our primary peer group from various industry segments. We also included companies to capture our expansion outside of the U.S. marketplace, and emphasized marketing and distributing a premium branded portfolio of products.

• Peer Selection - For our primary peer group, we also considered companies listed in our ISS-selected peer group and companies that include us in their peer group.

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In November 2023, for fiscal 2024 compensation decisions, FW Cook reviewed the peer group with the Compensation Committee, and the Compensation Committee approved the removal of Applied Industrial Technologies, Inc., DXP Enterprises, Inc., and NOW Inc. from the primary peer group due to such companies’ not being food distribution focused and Calavo Growers, Inc. being below the desired revenue size range. Additionally, following its review with FW Cook, the Compensation Committee approved the addition of five size-appropriate food-related marketing and distribution companies to the primary peer group: Cal-Maine Foods, Inc., Fresh Del Monte Produce Inc., Reynolds Consumer Products Inc., Sprouts Farmers Market, Inc., and TreeHouse Foods, Inc.

Reflecting the factors outlined above, our primary peer group for fiscal 2024 compensation decisions consisted of the following 18 companies:

| 1-800-FLOWERS.COM, Inc       |     | GMS Inc.                       |     | Reynolds Consumer Products Inc. |
| The Andersons, Inc.          |     | The Hain Celestial Group, Inc. |     | SiteOne Landscape Supply, Inc.  |
| B&G Foods, Inc.              |     | Hub Group, Inc.                |     | SpartanNash Company             |
| BlueLinx Holdings Inc.       |     | J&J Snack Foods Corp.          |     | Sprouts Farmers Market, Inc.    |
| Cal-Maine Foods, Inc.        |     | Lancaster Colony Corporation   |     | TreeHouse Foods, Inc.           |
| Fresh Del Monte Produce Inc. |     | Pool Corporation               |     | Werner Enterprises, Inc