Company: SYY
Filing Date: 2025-02-18
Form Type: 424B2
Source: 0001193125-25-028023
Chunk: 32

Company: SYSCO CORP
Filing Date: 2025-02-18
Form: 424B2
Chunk 32
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 this sentence) is the beneficial owner, directly or indirectly, of more than 50% of
the Voting Stock of such holding company.

Under clause (4) of the definition of Change of Control described above, a Change of
Control will occur when a majority of our directors are not Continuing Directors. In a decision in connection with a proxy contest, the Court of Chancery of Delaware held that the occurrence of a change of control under a similar indenture provision
may nevertheless be avoided if the existing directors were to approve the slate of new director nominees (who would constitute a majority of the new board) as “continuing directors” solely for purposes of avoiding the triggering of such
change of control clause,provided that the incumbent directors give their approval in the good faith exercise of their fiduciary duties. Therefore, in certain circumstances involving a significant change in the composition of our Board of
Directors, including in connection with a proxy contest where our Board of Directors does not endorse a dissident slate of directors but approves them as Continuing Directors, holders of the notes may not be entitled to require us to make an offer.

“Change of Control Repurchase Event” means, with respect to a series of the notes, the occurrence of both a
Change of Control and a Below Investment Grade Ratings Event for the notes of such series. Notwithstanding the foregoing, no Change of Control Repurchase Event will be deemed to have occurred in connection with any particular Change of Control
unless and until such Change of Control has actually been consummated.

“Continuing Directors” means, as of any
date of determination, any member of our Board of Directors who (1) was a member of our Board of Directors on the date the notes were issued or (2) was nominated for election, elected or appointed to our Board of Directors with the
approval of a majority of the Continuing Directors who were members of our Board of Directors at the time of such nomination, election or appointment (either by a specific vote or by approval of our proxy statement in which such member was named as
a nominee for election as a director, without objection to such nomination).

“Fitch” means Fitch Ratings Inc., a
subsidiary of Fimalac, S.A., and its successors.

S-18

“Investment Grade”means a rating of Baa3 or higher by Moody’s (or its equivalent under any successor rating categories of Moody’s); a rating of BBB-or higher by S&P (or its equivalent under any successor rating categories