Company: BRID
Filing Date: 2025-02-27
Form Type: DEF 14A
Source: 0001493152-25-008406
Chunk: 42

Company: BRIDGFORD FOODS CORP
Filing Date: 2025-02-27
Form: DEF 14A
Chunk 42
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 fiscal year 2024 and $25,800 in fiscal year 2023. In addition, legal services are performed on behalf of the Company and billed by a firm in which he is a partner. Total fees billed for legal services under this arrangement for each of fiscal years 2024 and 2023 were approximately $187,000 and $88,000, respectively.

Former director Allan L. Bridgford, Jr., son of director Allan L. Bridgford, Sr., is providing consulting services to the Chicago plant and management pursuant to a consulting agreement with the Company. The contract on behalf of the Company with Allan L. Bridgford, Jr. is for consulting services at $1,260 per day for fiscal year 2024 and $1,200 in fiscal year 2023. Total fees billed under this arrangement were approximately $253,350 in fiscal year 2024 and $130,800 in fiscal year 2023. Under an arrangement with Allan L. Bridgford, Jr., we accrued $0 in profit sharing for fiscal year 2024 and we accrued $203,336 in profit sharing for fiscal year 2023.

Director Allan L. Bridgford, Sr. is providing consulting services to the Company pursuant to his consulting agreement with the Company. Total fees billed under this arrangement were approximately $256,250 in fiscal year 2024. See “COMPENSATION DISCUSSION AND ANALYSIS – Employment and Consulting Agreements.”

Director Keith A. Ross did not provide any real-estate consulting services to the Board and management during fiscal years 2024 or 2023. However, in connection with the closing of the sale of the Company’s Green Street property in June 2022, the Company paid $300,000 to KR6, Inc., an entity controlled by Mr. Ross.

Other than the relationships noted above, the Company is not aware of any related party transactions that would require disclosure as a related party transaction under SEC rules.

Review, Approval or Ratification of Transactions With Related Persons

The Company’s executive officers, directors, nominees for directors and principal shareholders, including their immediate family members and affiliates, are prohibited from entering into related party transactions with the Company that would be reportable under Item 404 of Regulation S-K without the prior approval of its Audit Committee (or other independent committee of the Board of Directors in cases where it is inappropriate for the Audit Committee to review such transaction due to a conflict of interest). Any request for the Company to enter into a transaction