Company: GGG
Filing Date: 2025-03-12
Form Type: DEF 14A
Source: 0001193125-25-052581
Chunk: 21

Company: GRACO INC
Filing Date: 2025-03-12
Form: DEF 14A
Chunk 21
---
 Messrs. Black, Carter, Etchart, Gilligan and Wheeler and Mses. Anfang, Feragen and Morfitt received an annual option grant of 4,830 shares on February 16, 2024. The amounts reported in the Option Awards column represent the aggregate grant date fair value of stock options granted in 2024, computed in accordance with financial accounting principles, which is based on a per share value of $28.96 for options granted on February 16, 2024. |

Information concerning the assumptions used in accounting for equity awards may be found in Item 8, Financial Statements and Supplementary Data, Note H to the Consolidated Financial Statements in our 2024 Annual Report on Form 10-K.The aggregate number of outstanding option grants at fiscal year-end2024 are as follows:

| Name         |     | Unvested Shares |     | Exercisable Shares |
| Ms. Anfang   |     |           9,285 |     |              1,485 |
| Mr. Black    |     |           9,450 |     |              1,540 |
| Mr. Carter   |     |          16,608 |     |             16,012 |
| Mr. Etchart  |     |          14,768 |     |             61,732 |
| Ms. Feragen  |     |          14,768 |     |             42,862 |
| Mr. Gilligan |     |          14,768 |     |             55,732 |
| Mr. Mitau    |     |               — |     |             65,670 |
| Ms. Morfitt  |     |          14,768 |     |             90,052 |
| Mr. Van Sant |     |               — |     |             52,800 |
| Mr. Wheeler  |     |          14,768 |     |             36,012 |

| (4) | Prior to February 2001, non-employee directors who served five or more full years on the Board were eligible for a retirement benefit when they left the Board. In February 2001, the Board terminated this retirement benefit for those non-employee directors who had not met the five-year service level. Mr. Mitau satisfied the service requirement in 2001 and retired from our Board effective April 26, 2024, entitling him to payments in accordance with this retirement benefit. Ms. Mor