Company: TR
Filing Date: 2025-03-27
Form Type: DEF 14A
Source: 0001558370-25-003853
Chunk: 34

Company: TOOTSIE ROLL INDUSTRIES INC
Filing Date: 2025-03-27
Form: DEF 14A
Chunk 34
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 plus non-discriminatory employee benefits in the amount of $15,080. The total annual compensation of the median employee on a worldwide basis was $73,304. The annual total compensation of the Chief Executive Officer was $7,211,881. The ratio of these two amounts is 98 to 1 for 2024. The Board did not take into account the CEO pay ratio in setting the compensation of the named executive officers. Compensation Committee Interlocks and Insider Participation During 2024, the Board of Directors of the Company was responsible for determining the compensation of the executive officers of the Company. Mrs. Gordon was the Chairman of the Board and Chief Executive Officer of the Company. Mrs. Gordon recused herself from votes regarding her own compensation or in circumstances where her participation, as an executive officer of the Company, would have affected compliance with federal securities law or Section 162(m) of the Internal Revenue Code. RELATED PERSON TRANSACTIONS There were no related person transactions during 2024 that are required to be disclosed in the Proxy Statement. Policy Regarding Related Person Transactions The Board has adopted a written policy that all direct or indirect transactions between the Company and its executive officers, directors or shareholders holding 5% or more of its voting securities, and any other transactions required to be disclosed as related person transactions by Item 404 of the SEC’s Regulation S-K, shall be in the best interests of the Company and, unless different terms are specifically approved or ratified by disinterested members of the Board, must be on terms that are no less favorable to the Company than would be obtained in a similar transaction with an unaffiliated third party under the same or similar circumstances, or generally available to substantially all employees. All related person transactions or series of similar transactions required to be disclosed pursuant to Regulation S-K Item 404 must be presented to the Board for pre-approval or ratification. Each of the Company’s directors and executive officers is required by the policy to promptly notify the Chairman of any related person transaction in which such director or executive officer may be directly or indirectly involved as soon as he or she becomes aware of a possible transaction. The Chairman is responsible for reviewing all related person transactions and taking all reasonable steps to ensure that all material related person transactions be presented to the Board for pre-approval or ratification by disinterested members of the Board in their discretion at its next regularly scheduled meeting, or by consent in lieu of a meeting if deemed appropriate.

24

For related person transactions that are not required to be disclosed pursuant to Item