Company: CAG
Filing Date: 2025-08-06
Form Type: DEF 14A
Source: 0000023217-25-000054
Chunk: 45

Company: CONAGRA BRANDS INC.
Filing Date: 2025-08-06
Form: DEF 14A
Chunk 45
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 example, each named executive officer, except for Ms. O’Mara, who became our Executive Vice President & President, New Platforms & Acquisitions in fiscal 2025, had outstanding fiscal 2023 to 2025 Performance Shares, fiscal 2024 to 2026 Performance Shares, and fiscal 2025 to 2027 Performance Shares. Goal Setting for Performance Shares The Committee’s approach to selecting and setting performance goals for each cycle of Performance Shares is thorough. Prior to the start of a performance period, the Committee discusses proposed plan design, taking into consideration the Company’s strategic plan. Then, shortly after the start of each performance period, the Committee approves the actual metric or metrics for the program and the specific financial hurdles that must be met for awards to be earned.

| ​​​                                                                                                                                                                                                                                                            | ​ | ​ |
| For each of the fiscal 2023–2025, fiscal 2024–2026, and fiscal 2025–2027 Performance Share cycles, the Committee has selected two metrics: Adjusted EPS (weighted at 70%) and Adjusted Net Sales (weighted at 30%) to align with the Company’s strategic plan. | ​ |   |

The Committee’s preferred approach is for the performance goals in each grant to cover the full three years of the performance period. However, the Committee retains the discretion to use longer or shorter performance periods if doing so is appropriate considering relevant Company dynamics or macroeconomic conditions. For the fiscal 2023–2025 and fiscal 2024–2026 Performance Share cycles, the Committee utilized a year-over-year growth rate approach, setting annual goals for each of the three fiscal years based on prior-year performance. The chart below shows the formula applicable to determine the payout of shares under the fiscal 2023–2025 and fiscal 2024–2026 Performance Share cycles:

| Year 1 | ​ | Adjusted EPS (70%) | + | Adjusted Net Sales (30%) | x | 1/3 | ​            |
| ​      | ​ | ​                  | ​ | ​                        | ​ | +   | ​            |
| Year 2 | ​ | Adjusted EPS (70%) | + | Adjusted Net Sales (30%) | x | 1/3 | = LTI Payout |
| ​      | ​ | ​                  | ​ | ​                        | ​ | +   |              |
| Year 3 | ​ | Adjusted EPS(70%)  | + | Adjusted Net Sales