Company: BRID
Filing Date: 2025-02-27
Form Type: DEF 14A
Source: 0001493152-25-008406
Chunk: 45

Company: BRIDGFORD FOODS CORP
Filing Date: 2025-02-27
Form: DEF 14A
Chunk 45
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 that each non-audit service is permissible under all applicable legal requirements. A budget, estimating non-audit service spending for the fiscal year, will be provided to the Audit Committee along with the request. The Audit Committee must approve both permissible non-audit services and the budget for such services.

<div align='center'>PROPOSAL 3

SHAREHOLDER PROPOSAL</div>

We have been notified that Mr. Mark Krieger, 9832 Brentwood Dr., Santa Ana, California 92705, who reports that he was the beneficial owner of at least $25,000 of our common stock for at least one year as of December 31, 2024 and intends to hold his shares of our common stock through the date of the Annual Meeting, intends to present the proposal below for consideration and a shareholder vote at the Annual Meeting. The proposal, along with Mr. Krieger’s supporting statement, appear below as received by us. The accuracy and content contained in the shareholder proposal and supporting statement are Mr. Krieger’s sole responsibility.

For the reasons set forth following the proposal and supporting statement, the Board and management disagree with Mr. Krieger’s proposal and supporting statement.

Approval of Mr. Krieger’s proposal requires the affirmative vote of a majority of the shares of common stock represented at the Annual Meeting and entitled to vote on any matter. Abstentions and broker non-votes will have the same effect as votes “AGAINST” this proposal.

Mr. Krieger’s Proposal and Supporting Statement

Proposal: recommends the Board of Directors elect to take the company private. This action would benefit both the controlling shareholders and the minority shareholders. The controlling shareholders would no longer be burdened with the heavy cost of SEC regulations, filings, corporate governance, etc. Less information would need to be disseminated, keeping competitors less informed. Ultimately, the company’s costs would be trimmed in the process. Minority shareholders would benefit by receiving a fair premium against the current depressed share price. It would certainly end as a “win-win” dynamic for both parties. The company has the wherewithal to obtain the necessary financing to conduct the transaction, especially considering its cash holdings and strong banking relationships.

Supporting statement: The fact minority shareholders own just 19.30% (1,751,537 of 9,076,832 shares) of the outstanding shares puts them at an extreme disadvantage when attempting to enact positive change. The company’s market cap has not grown in the past decade. The share price