Company: SYY
Filing Date: 2025-08-22
Form Type: 10-K
Source: 0000096021-25-000099
Chunk: 65

Company: SYSCO CORP
Filing Date: 2025-08-22
Form: 10-K
Item: Item 8
Chunk 65
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 date of grant. The weighted average grant date fair value of the shares granted during fiscal 2025, 2024 and 2023 was $74.96, $70.67 and $84.10, respectively. The total fair value of restricted stock shares vested and deferred units distributed during fiscal 2025, 2024 and 2023 was $2 million, $2 million and $2 million, respectively. Restricted stock shares are valued on their vesting date. Vested deferred units are valued on their subsequent conversion and distribution date.NEDs may elect to receive up to 100% of their annual directors’ fees in Sysco common stock on either an annual or deferred basis. As a result of such elections, a total of 3,148, 5,966 and 6,974 shares with a weighted-average grant date fair value of $76.66, $72.22 and $78.82 per share were issued in fiscal 2025, 2024 and 2023, respectively, in the form of fully vested common stock or deferred units. Common stock shares are valued on their vesting date. Vested deferred units are valued on their subsequent conversion and distribution date.As of June 28, 2025, there were 130,769 fully vested deferred units outstanding that will convert into shares of Sysco common stock upon dates selected by the respective NED.Summary of Equity Instruments Other Than Stock OptionsThe following summary presents information regarding outstanding non-vested awards as of June 28, 2025 and changes during the fiscal year then ended with regard to these awards under the stock incentive plans. Award types represented include restricted stock units granted to employees, restricted awards granted to non-employee directors and PSUs. SharesWeighted Average Grant Date Fair Value Per ShareNon-vested as of June 29, 20242,972,194 $80.46 Granted854,832 79.26 Vested(992,947)76.56 Forfeited(356,322)78.13 Non-vested as of June 28, 20252,477,757 $81.95 2025 Employee Stock Purchase PlanThe Sysco ESPP permits employees to invest in Sysco common stock by means of periodic payroll deductions at a discount of 15% from the closing price on the last business day of each calendar quarter. The total number of shares that may be sold pursuant to the ESPP may not exceed