PILGRIMS PRIDE CORP
For the period ended Apr 30, 2025. Filed May 1, 2025.
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A notice of a major event between regular reports, such as results, a deal or a change of executives. It is often the first formal record of the news.
Apr 30, 2025 · Filed May 1, 2025
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Securities registered pursuant to Section 12(b) of the Act:
| Title of each class | Trading Symbol | Name of Exchange on Which Registered |
|---|---|---|
| Common Stock, Par Value $0.01 | PPC | The Nasdaq Stock Market LLC |
Indicate by check mark whether the registrant is an emerging growth company as defined in as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
| Emerging growth company | ☐ |
|---|
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.☐
Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
As previously disclosed, the Board of Directors (the “Board”) of Pilgrim’s Pride Corporation (the “Company”) previously adopted, subject to stockholder approval, the Amended and Restated Pilgrim’s Pride Corporation 2019 Long Term Incentive Plan (the “Restated 2019 LTIP”), which increased the number of shares of common stock, $0.01 par value, authorized for issuance under and made certain immaterial changes to the existing plan. As set forth in Item 5.07 below, the Company’s stockholders approved the Restated 2019 LTIP at the Company’s 2025 Annual Meeting of Stockholders held on April 1, 2025 (the “2025 Annual Meeting”). The Restated 2019 LTIP became effective as of the date of such stockholder approval.
The material features of the Restated 2019 LTIP are described in the Company’s definitive proxy statement on Schedule 14A for the Annual Meeting filed with the Securities and Exchange Commission (the “SEC”) on April 4, 2025 (the “2025 Proxy Statement”) in the section titled “Proposal 5 – Approval of Amended and Restated Pilgrim’s Pride Corporation 2019 Long Term Incentive Plan,” which is incorporated herein by reference. Such description is qualified entirely by reference to the Restated 2019 LTIP, a copy of which is filed as Exhibit 10.1 hereto and incorporated herein by reference. Additionally, a copy of the Company’s Restated 2019 Plan, marked to show changes, was filed as Appendix B to the 2024 Proxy Statement (additions are underlined and deletions are struck through).
Item 5.07 Submission of Matters to a Vote of Security Holders.
On April 30, 2025, the Company held its Annual Meeting. The following proposals were submitted to a vote of the stockholders of the Company at the Annual Meeting:
The election of eight JBS Directors to the Board.
The election of two Equity Directors to the Board.
A stockholder advisory vote on executive compensation.
The ratification of the appointment of KPMG LLP as the independent registered public accounting firm of the Company for the fiscal year ending December 28, 2025.
Approval of the Restated 2019 LTIP.
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