Company: LW
Filing Date: 2025-08-07
Form Type: DEF 14A
Source: 0001679273-25-000060
Chunk: 58

Company: Lamb Weston Holdings, Inc.
Filing Date: 2025-08-07
Form: DEF 14A
Chunk 58
---
>

• litigation or claim adjudication, judgments, or settlements;

• adjustments to prior tax year liabilities;

• cumulative effects of accounting changes; and

• extraordinary, unforeseeable events, such as natural disasters or the impact of social or political unrest outside of management’s control.

The Compensation Committee believes these types of adjustments will allow our management and other employees to focus on the fundamentals of the Company’s underlying business performance without concern about the potential impact of unplanned or unusual gains or losses on incentive award payouts. The Compensation Committee made no adjustments to the fiscal 2025 AIP awards.

Effective January 2025, in connection with the implementation of our CEO succession plan, the Compensation Committee approved an increase in target AIP for Mr. Smith in connection with his promotion to Chief Executive Officer, and a corresponding decrease in target AIP for Mr. Werner in connection with his transition to an advisory role. The Compensation Committee left the target AIP award opportunities for the other NEOs unchanged. Ms. Wilks's target AIP award opportunity was established when she joined the Company in August 2024. The target award opportunities and amounts earned for our NEOs in fiscal 2025 are shown in the table below.

| NEO                     |     | AIP Target          
 as % of Base Salary |     |                     | Fiscal 2025 AIP Target Award |           |     | Fiscal 2025 AIP Payout % |   |   |
|:------------------------|:----|:--------------------|:----|:--------------------|:-----------------------------|----------:|:----|:-------------------------|--:|:--|
| Michael J. Smith¹       |     |                     |     | 115%/150% of salary | $                            | 1,110,144 |     |                          | 0 | % |
| Bernadette M. Madarieta |     |                     |     | 100% of salary      | $                            |   600,000 |     |                          | 0 | % |
| Marc J.P.H. Schroeder²  |     |                     |     | 100% of salary      | $                            |   653,315 |     |                          | 0 | % |
| Sylvia J. Wilks³        |     |                     |     | 70% of salary       | $                            |   325,096 |     |                          | 0 | % |
| Eryk J. Spytek          |     |                     |     | 100% of salary