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SCOTTS MIRACLE-GRO CO

For the period ended Jan 27, 2025. Filed Dec 18, 2024.

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What shareholders are asked to vote on at a company's meeting. It is where to find what directors and top executives are paid, and who owns the most shares.

Jan 27, 2025 · Filed Dec 18, 2024

SMG$64.71-2.5%Stored close · as of Nov 6, 2026
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INFORMATION REQUIRED IN PROXY STATEMENT

SCHEDULE 14A INFORMATION

Proxy Statement Pursuant to Section 14(a) of the Securities

Exchange Act of 1934 (Amendment No. )

Filed by the Registrantþ

Filed by a Party other than the Registrant¨

Check the appropriate box:

¨ Preliminary Proxy Statement

¨ Confidential, for Use of the Commission Only (as permitted by Rule 14a-6(e)(2))

þ Definitive Proxy Statement

¨ Definitive Additional Materials

¨ Soliciting Material Pursuant to §240.14a-12

The Scotts Miracle-Gro Company

(Name of Registrant as Specified In Its Charter)

(Name of Person(s) Filing Proxy Statement, if other than the Registrant)

Payment of Filing Fee (Check all boxes that apply):

þNo fee required.
¨Fee paid previously with preliminary materials.
¨Fee computed on table in index required by Item 25(b) per Exchange Act Rules 14a-6(i)(1) and 0-11.

The Scotts Miracle-Gro Company

Proxy Statement for 2025 Annual Meeting of Shareholders

14111 Scottslawn Road

Marysville, Ohio 43041

NOTICE OF ANNUAL MEETING OF SHAREHOLDERS

NOTICE IS HEREBY GIVEN by The Scotts Miracle-Gro Company (the “Company”) that the 2025 Annual Meeting of Shareholders (the “Annual Meeting”) will be held on Monday, January 27, 2025, at 9:00 A.M., Eastern Time. The Annual Meeting is a virtual meeting of shareholders which means that you are able to participate in the Annual Meeting, and vote and submit your questions during the Annual Meeting via live webcast by visiting www.virtualshareholdermeeting.com/SMG2025. Because the Annual Meeting is virtual and being conducted electronically, shareholders may not attend the Annual Meeting in person.

The Annual Meeting is being held for the following purposes:

  1. To elect four directors, each to serve for a three-year term expiring at the 2028 Annual Meeting of Shareholders.

  2. To conduct an advisory vote on the compensation of the Company’s named executive officers.

  3. To ratify the selection of Deloitte & Touche LLP as the Company’s independent registered public accounting firm for the fiscal year ending September 30, 2025.

  4. To approve an amendment and restatement of the Discounted Stock Purchase Plan to increase the number of common shares available for issuance thereunder.

  5. To transact such other business as may properly come before the Annual Meeting or any adjournment or postponement thereof.

The Proxy Statement accompanying this Notice of Annual Meeting describes each of these items in detail. The Company has not received notice of any other matters that may be properly presented at the Annual Meeting.

Only shareholders of record at the close of business on Monday, December 2, 2024, the date established by the Company’s Board of Directors as the record date, are entitled to receive notice of, and to vote at, the Annual Meeting.

On or about December 18, 2024, the Company is first mailing to shareholders either: (1) a copy of the accompanying Proxy Statement, a form of proxy and the Company’s 2024 Annual Report; or (2) a Notice of Internet Availability of Proxy Materials, which indicates how to access the Company’s proxy materials and 2024 Annual Report on the Internet.

Your vote is very important. Please vote as soon as possible.

By Order of the Board of Directors,

JAMES HAGEDORN

Chairman & Chief Executive Officer

December 18, 2024

Proxy Statement for

Annual Meeting of Shareholders of

TABLE OF CONTENTS

Page
General Information About Voting1
The Board of Directors3
Current Composition3
Experiences, Skills and Qualifications3
Diversity4
Leadership Structure5
Board Role in Risk Oversight6
Cybersecurity Matters7
Proposal Number 1 — Election of Directors7
Meetings and Committees of the Board13
Meetings of the Board and Board Member Attendance at Annual Meeting of Shareholders13
Committees of the Board14
Audit Committee14
Compensation and Organization Committee15
Nominating and Governance Committee15
Finance Committee16
Innovation and Technology Committee16
Compensation and Organization Committee Interlocks and Insider Participation16
Corporate Governance17
Corporate Governance Guidelines17
Director Independence17
Nominations of Directors17
Communications with the Board18
Code of Business Conduct and Ethics18
Non-Employee Director Compensation18
Benchmarking Non-Employee Director Compensation18
Non-Employee Director Compensation Structure for 202419
Aligning Non-Employee Director Compensation and Shareholder Interests20
Key Provisions of 2024 Board Compensation20
Non-Employee Director Stock Ownership Guidelines21
Non-Employee Director Compensation Table21
Executive Officers24
Executive Compensation25
Compensation Discussion and Analysis25
Executive Summary25
Our Compensation Philosophy and Objectives28
Page
Elements of Executive Compensation29
Base Salary29
Annual Cash Incentive Compensation30
Long-Term Equity-Based Incentive Awards34
Executive Perquisites and Other Benefits37
Retirement Plans and Deferred Compensation Benefits38
Our Compensation Practices39
Determining Executive Officer Compensation39
Role of Outside Consultants39
Compensation Peer Group39
Role of Management in Compensation Decisions40
Setting Compensation Levels for CEO and Other NEOs40
Other Executive Compensation Policies, Practices and Guidelines42
Practices Regarding Equity-Based Awards42
Stock Ownership Guidelines42
Recoupment/Clawback Policies43
Risk Assessment in Compensation Programs43
Anti-Hedging Policy43
Subsequent Event Following Fiscal Year End — Garth Separation Agreement43
Compensation Committee Report45
Executive Compensation Tables46
Summary Compensation Table46
All Other Compensation Table48
Grants of Plan-Based Awards Table49
Outstanding Equity Awards Table52
Option Exercises and Stock Vested Table54
Pension Benefits Table54
Non-Qualified Deferred Compensation Table55
CEO Pay Ratio Disclosure56
Pay Versus Performance57
Severance and Change in Control (CIC) Arrangements61
Introduction61
Hagedorn Severance Agreement61
Executive Severance Plan62
Payments on Termination of Employment and/or Change in Control64
Termination of Employment and Change in Control — James Hagedorn66
Termination of Employment and Change in Control — Mr. Garth, Mr. Baxter, Mr. C. Hagedorn and Mr. Todorov67
Employee Confidentiality, Noncompetition, Nonsolicitation Agreements70
Proposal Number 2 — Advisory Vote on the Compensation of the Company’s Named Executive Officers (“Say-on-Pay”)71
Proposal Number 3 — Ratification of the Selection of the Independent Registered Public Accounting Firm73
Proposal Number 4 — Approval of an Amendment and Restatement of The Scotts Miracle-Gro Company Discounted Stock Purchase Plan74
Audit Committee Matters79
Report of the Audit Committee for the 2024 Fiscal Year79
Role of the Audit Committee, Independent Registered Public Accounting Firm and Management79
Page
Audit Committee Recommendation79
Fees of the Independent Registered Public Accounting Firm80
Audit Fees80
Audit-Related Fees80
Tax Fees80
All Other Fees80
Pre-Approval of Services Performed by the Independent Registered Public Accounting Firm80
Policies and Procedures Regarding Approval of Services Provided by the Independent Registered Public Accounting Firm80
Certain Relationships and Related Transactions81
Policies and Procedures with Respect to Related Person Transactions82
Equity Compensation Plan Information83
Discounted Stock Purchase Plan85
Security Ownership of Certain Beneficial Owners and Management86
Delinquent 16(a) Reports91
Shareholder Proposals for 2026 Annual Meeting of Shareholders91
Other Business91
Electronic Delivery of Future Shareholder Communications92
Householding of Annual Meeting Materials92
Annex A — The Scotts Miracle-Gro Company Discounted Stock Purchase PlanA-1
ContentsView on SEC.gov

The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.