UNIVERSAL CORP /VA/
For the period ended Mar 31, 2026. Filed Jul 1, 2026.
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Mar 31, 2026 · Filed Jul 1, 2026
Contents
Peer Group Analysis
On an annual basis, the Committee determines the total compensation target for each of our executive officers. The Committee then sets the mix of the different components of compensation desired to achieve the total compensation target. The Committee periodically requests that its outside advisor benchmark the component totals to confirm that such amounts are within reason of our peer group. The Committee, generally, targets the 50th percentile in measuring competitiveness.
The Compensation Committee reviews the peer group annually in consultation with its independent compensation consultants. During fiscal year 2026, no changes were made to the peer group. Characteristics considered in this evaluation included business sector, with a focus on companies in tobacco, packaged foods and meats and agricultural products, as well as revenue, assets, market capitalization and operational complexity. Although our industry is highly competitive, Universal and Pyxus International, Inc. are the only global, independent, publicly traded competitors. We, therefore, lack true “peers” within our own industry. The peer group used to inform fiscal year 2026 compensation decisions consists of the following companies:
| Pyxus International, Inc. | Flowers Foods, Inc. | Hain Celestial Group, Inc. |
|---|---|---|
| J&J SnackFoods Corp. | Fresh Del Monte Produce Inc. | Seneca Foods Corporation |
| B&G Foods, Inc. | John B. Sanfilippo & Son, Inc. | Darling Ingredients, Inc. |
| Cal-Maine Foods, Inc. | The Marzetti Company (formerly “Lancaster Colony Corporation”) | TreeHouse Foods, Inc. |
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