Company: CAG
Filing Date: 2025-08-06
Form Type: DEF 14A
Source: 0000023217-25-000054
Chunk: 23

Company: CONAGRA BRANDS INC.
Filing Date: 2025-08-06
Form: DEF 14A
Chunk 23
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 of shareholders. All of our directors at the time attended our 2024 Annual Meeting of Shareholders. Director Compensation We use a combination of cash and equity-based compensation to attract and retain qualified candidates to serve on the Board. On an annual basis, the HR Committee recommends the non-employee director compensation program to the Board for approval. In setting director compensation, the HR Committee receives input from Frederic W. Cook & Co., Inc. (FW Cook), its independent compensation consultant, on factors including the time commitment and skill level required to serve on the Board, as well as broader market practices. In addition, our Conagra Brands, Inc. 2023 Stock Plan places a limit on the equity awards that may be awarded to each non-employee director in any fiscal year. A summary of non-employee director compensation for fiscal 2025 is set forth below. NON-EMPLOYEE DIRECTOR COMPENSATION—BOARD CHAIR In lieu of the elements of compensation for board service described below, the Board Chair’s compensation for fiscal 2025 consisted of a grant of RSUs with a target value equal to $460,000. The number of RSUs granted, 14,969, was determined by dividing $460,000 by the average closing price of our common stock on the NYSE for the 30 trading days prior to the grant date of May 28, 2024. The material terms of the RSUs were identical to those described below for the other non-employee directors. In addition, for fiscal 2025, our Board Chair was paid an annual committee chair retainer equal to $20,000, as outlined below, for his service as Chair of our Nominating and Corporate Governance Committee.

32CONAGRA BRANDS 2025 PROXY STATEMENT

CORPORATE GOVERNANCE

NON-EMPLOYEE DIRECTOR COMPENSATION—DIRECTORS OTHER THAN THE BOARD CHAIR The following table summarizes the compensation program for our non-employee directors, other than the Board Chair, that was in effect during fiscal 2025.

| ​                                                             |                                                                         | ​ | ​ | ​                                                                                                                                                                                                                                                              |
| ​                                                             | Non-Employee Director Compensation—Directors Other than the Board Chair |   |   |                                                                                                                                                                                                                                                                |
| Annual Cash Retainer                                          |                                                                         | ​ |   | $105,000 per year(1)                                                                                                                                                                                                                                           |
| Annual Committee Chair RetainerAudit CommitteeOther Committee |                                                                         | ​ | ​ | ​$25,000 per year(1)