The J. M. Smucker Company

15/08/2024 | Press release | Distributed by Public on 16/08/2024 03:16

Submission of Matters to a Vote of Security Holders Form 8 K

Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
(e) As disclosed in The J. M. Smucker Company's (the "Company") 2024 Proxy Statement and Notice of Annual Meeting of Shareholders (the "2024 Proxy Statement"), the Company's Compensation and People Committee (the "Compensation Committee") approved several changes to the Company's long-term incentive compensation program for fiscal year 2025. At its meeting in August 2024, the Compensation Committee determined the performance metrics and targets for the 2025 performance units and agreed to replace the three-year performance target for return on invested capital with a three-year performance target for average net sales growth. Therefore, performance unit awards will continue to generally vest at the end of three years but will be based 75% on the achievement of the Company's three-year performance target for adjusted earnings per share and 25% on the achievement of the Company's three-year performance target for average net sales growth.