Company: BRID
Filing Date: 2025-02-27
Form Type: DEF 14A
Source: 0001493152-25-008406
Chunk: 26

Company: BRIDGFORD FOODS CORP
Filing Date: 2025-02-27
Form: DEF 14A
Chunk 26
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 Executive Committee.

For fiscal year 2024, the NEOs consisted of the following three persons:

| ● | Baron                                                                                                                       
 R.H. Bridgford II, President and Chairman of the Executive Committee                                                        |
| ● | Michael                                                                                                                     
 W. Bridgford, Chairman of the Board (Principal Executive Officer) and Member of the Executive Committee                     |
| ● | Cindy                                                                                                                       
 Matthews-Morales, Chief Financial Officer and Secretary (Principal Financial Officer) and Member of the Executive Committee |

The Company’s executive compensation program is overseen by the Compensation Committee, which is comprised of certain non-employee members of the Board and, notwithstanding that the Company is a “controlled company” within the meaning of the NASDAQ Listing Rules, each member is independent as defined in Rule 5605(a)(2) of the NASDAQ Listing Rules. The Compensation Committee currently consists of three members, including of Messrs. Scott (Chairman) and Andrews and Ms. Schott. The basic responsibility of the Compensation Committee is to review the performance of the officers and key employees toward achieving the Company’s strategic goals and to help ensure that the Company is able to attract and retain individuals who can lead the Company to achieve those goals.

One of the Company’s primary strategic goals is to increase shareholder value while meeting its objectives for customer satisfaction, improved sales and financial performance, sound corporate governance, and competitive advantage. The Company’s current emphases on controlling costs and improving profit margins on a consistent basis are also important factors which affect the Company’s compensation decisions. The Compensation Committee’s goal is to work with management to balance the Company’s financial goals and circumstances with the need to attract, motivate and retain the fully qualified and capable individuals the Company needs to meet and surpass its customers’ and shareholders’ expectations in a highly competitive industry.

Compensation Philosophy and Objectives

The core of the Company’s executive compensation philosophy is to pay for performance. To that end, incentive bonus targets are set each year to reward excellent executive performance based upon the achievement of profit objectives by business units and the Company’s overall profitability based on pretax income, thus stimulating all executives to assume broad responsibility for the Company’s overall financial welfare and financial performance.

The Compensation Committee’s guiding principles are as follows:

| ● | Work                                                                                                                                
 with management to provide a compensation program that recognizes individual contributions as well as the Company’s overall         
 business results;                                                                                                                   |
| ● | Provide                                                                                                                             
 reasonable levels of total compensation which will enable the Company to attract and retain qualified and capable executive