Company: CAG
Filing Date: 2025-08-06
Form Type: DEF 14A
Source: 0000023217-25-000054
Chunk: 44

Company: CONAGRA BRANDS INC.
Filing Date: 2025-08-06
Form: DEF 14A
Chunk 44
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 to determine the number of shares to be granted by dividing the approved value by the average of the closing price of our common stock on the NYSE for the 10 trading days prior to the grant date. |

| (2) | Includes $3,000,000 of grant value for Ms. O’Mara’s sign-on awards ($2,000,000 in RSUs vesting ratably over two years, $400,000 in RSUs vesting ratably over three years, and $600,000 in Performance Shares with the same targets and performance-period as the annual LTI awards; all such RSUs and Performance Shares will forfeit upon Ms. O’Mara’s termination except as a result of death or permanent disability). |

Each element of the LTI plan used in fiscal 2025 is discussed more fully below. Long-Term Incentive Plan—RSUs RSUs generally represent the right to receive a defined number of shares of our common stock after completing a period of service established at the grant date. RSUs encourage long-term commitment to the Company. In general, RSUs granted under the fiscal 2025 LTI plan vest ratably, one third on each anniversary of the date of grant for three years, subject to the executive’s continued employment. A portion of Ms. O’Mara’s sign-on RSUs will vest ratably, one half on each anniversary of the date of grant for two years. RSUs awarded under the fiscal 2025 LTI plan do not accrue dividend equivalents during the vesting period. Long-Term Incentive Plan—Performance Shares Performance Shares represent an opportunity to earn a defined number of shares of our common stock if we achieve pre-set performance goals over a performance measurement period. In general, the Performance Shares vest following completion of the third

50CONAGRA BRANDS 2025 PROXY STATEMENT

COMPENSATION DISCUSSION AND ANALYSIS

fiscal year after the grant and provide the named executive officer participating in the cycle the opportunity to earn a payout, in shares of common stock, from 0% to 200% of their respective target award. Dividend equivalents are paid in additional shares of common stock on the portion of Performance Shares actually earned accrued at our regular dividend rate during the performance period. The three-year nature of the Performance Shares means that in any year, a named executive officer may have Performance Shares relating to up to three performance periods outstanding at any time. In fiscal 2025, for