Company: TR
Filing Date: 2025-03-27
Form Type: DEF 14A
Source: 0001558370-25-003853
Chunk: 12

Company: TOOTSIE ROLL INDUSTRIES INC
Filing Date: 2025-03-27
Form: DEF 14A
Chunk 12
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 sale and other disposition of our securities by our directors, officers and employees that is designated to promote compliance with insider trading laws, rules, regulations and applicable listing standards. A copy of our insider trading policy is filed as an exhibit to the Current Report on Form 8-K filed with the Securities and Exchange Commission on March 27, 2025. In addition, it is our intent to comply with applicable laws and regulations relating to the Company trading in its own securities. Anti-Hedging Policy The Company has adopted an Anti-Hedging Policy which prohibits directors and executive officers from directly or indirectly engaging in any transaction involving the purchase by a director or executive officer of a “derivative security” designed to hedge or offset a decrease in market value of equity securities of the Company. “Derivative” securities includes any option, warrant, convertible security, stock appreciation right, or similar right with an exercise or conversion privilege at a price related to an equity security of the Company, or similar securities with a value derived from the value of an equity security of the Company. DELINQUENT SECTION 16(A) REPORTS Section 16(a) of the Securities Exchange Act of 1934 requires directors, executive officers and persons who own more than ten percent of the Company’s Common Stock or Class B Common Stock to file reports of ownership and changes in ownership with the SEC and NYSE. Such persons are also required to furnish the Company with copies of all such reports. Based solely on a review of the copies of such reports, and written representations from certain reporting persons, we are pleased to note that the Company’s directors, executive officers and greater than ten percent shareholders filed all required reports during or with respect to fiscal year 2024 on a timely basis. EXECUTIVE COMPENSATION Compensation Discussion and Analysis The following Compensation Discussion and Analysis describes the material elements of the compensation program for the Company’s executive officers identified in the Summary Compensation Table below, who are referred to in this discussion as the “named executive officers.” Corporate Principles We believe that the differences among companies are attributable to the caliber of their people, and therefore strive to attract and retain superior executives. The Company maintains a conservative financial posture in deploying and managing assets and does not jeopardize long-term growth for immediate, short-term results. Objectives of Compensation Program

The objectives of the Company’s compensation program for named executive officers consistent with these corporate principles are to:

| ● | Encourage and reward individual effort and teamwork in order to improve the Company’s financial performance, and |

| ● | Att