Company: TR
Filing Date: 2025-03-27
Form Type: DEF 14A
Source: 0001558370-25-003853
Chunk: 20

Company: TOOTSIE ROLL INDUSTRIES INC
Filing Date: 2025-03-27
Form: DEF 14A
Chunk 20
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 compensation earned by any named executive officer under any of the Company’s plan, including the MIP, during the current fiscal year is subject to the $1 million deduction limitation. The Board has not changed its approach to paying compensation despite amounts above $1 million being non-deductible.

Advisory Vote on Executive Compensation

The Board considered the result of the 2023 advisory vote to approve the compensation of the Company’s named executive officers in connection with the discharge of its responsibilities. Because shareholders overwhelmingly approved the compensation of the Company’s named executive officers, with approximately 96.4% of the total votes cast voted in favor of the 2023 “say-on-pay” resolution, the Board has not made significant changes to the Company’s compensation programs as a result of such shareholder advisory vote.

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Report of the Board of Directors on Executive Compensation To Our Fellow Shareholders at Tootsie Roll Industries, Inc.: The undersigned, the entire Board of Directors of Tootsie Roll Industries, Inc., have reviewed and discussed the Compensation Discussion and Analysis set forth above with management and, based on such review and discussion, have recommended inclusion of the Compensation Discussion and Analysis in this Proxy Statement.

| ​ | ​                                    |
| ​ | The entire Board of Directors:       
 Ellen R. Gordon                      
 Michael A. Chodos                    
 Lana Jane Lewis-Brent                
 Paula M. WardynskiVirginia L. Gordon |

Summary Compensation Table for Fiscal Years Ended December 31, 2024, 2023 and 2022 The following table sets forth the information required by SEC Regulation S-K Item 402 as to the compensation paid or accrued for the years ended December 31, 2024, 2023 and 2022 for services rendered in all capacities, by the Company’s Chairman and Chief Executive Officer, Vice President/Finance (the principal financial officer) and three other most highly compensated executive officers (the “named executive officers”).

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