Company: BRID
Filing Date: 2025-02-27
Form Type: DEF 14A
Source: 0001493152-25-008406
Chunk: 36

Company: BRIDGFORD FOODS CORP
Filing Date: 2025-02-27
Form: DEF 14A
Chunk 36
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 positive change in actuarial present value of the individual’s accumulated benefit under all                  
 defined benefit and supplemental pension plans. In accordance with SEC rules, to the extent the aggregate change in present value           
 of all defined benefit and supplemental pension plans for a particular fiscal year would have been a negative amount, the amount            
 has instead been reported as $0 and the aggregate compensation for the individual in the “Total” column has not been                        
 adjusted to reflect the negative amount. In addition, to the extent that the change in present value of any particular defined benefit      
 or supplemental pension plan for a particular year was a negative amount, the negative amount has not been used to offset the positive      
 change in present value associated with the other applicable defined benefit or supplemental pension plans.                                 |
| (4) | William                                                                                                                                     
 L. Bridgford, who serves as Vice President of the Company, did not receive any fees for his services as a director. Rather, Mr. Bridgford’s 
 “All Other Compensation” consisted of a base salary of $288,425, a payment of $8,000 to offset the cancellation of health                   
 benefits, and $13,800 in matching contributions of the Bridgford Foods Retirement Savings 401(k) plan made by the Company on behalf         
 of Mr. Bridgford.                                                                                                                           |
| (5) | John                                                                                                                                        
 V. Simmons, who serves as Vice President of the Company, did not receive any fees for his services as a director. Rather, Mr. Simmons’s     
 “All Other Compensation” consisted of a base salary of $250,000, a bonus of $4,718, a payment of $8,000 to offset the                       
 cancellation of health benefits, and $13,800 in matching contributions of the Bridgford Foods Retirement Savings 401(k) plan made           
 by the Company on behalf of Mr. Simmons.                                                                                                    |

Narrative to Director Compensation Table

The Company uses cash compensation to attract and retain qualified candidates to serve on its Board of Directors. In setting director compensation, the Compensation Committee considers the demands that have been placed and will continue to be placed on the directors and the skill-level required by its directors. In addition, as with the Company’s executive officers, compensation decisions for directors are made in the context of the Company’s focus on controlling costs and increasing profitability.

The directors are not paid an annual retainer for their service on the Board. Instead, each non-employee director, other than Allan L. Bridgford, Sr., was