Bunge Global SA
For the period ended May 15, 2024. Filed Apr 5, 2024.
View on SEC.govAbout this filing
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.
May 15, 2024 · Filed Apr 5, 2024
Contents
Commitment to Shareholders
Shareholder Engagement
Strong governance, driven by best practice and feedback from shareholders. We annually submit our executive compensation program to a shareholder advisory say-on-pay vote. We value the opinions of our shareholders as expressed through this vote and other communications. Through our robust engagement outreach program, we receive valuable feedback on the issues that are most important to our shareholders, including our executive compensation program, governance, sustainability, director skills and diversity, corporate responsibility and our business and strategic direction. Similar to previous years, our non-employee Board Chair and members of our senior management team engaged with institutional investors representing approximately 40-50% of our issued and outstanding shares annually.
Bunge | 2024 Proxy Statement 58
2023 Say-on-Pay Vote
At our 2023 Annual General Meeting,96.2% of the votes cast on our annual say-on-pay vote were in favor of our executive compensation program. We attribute this favorable support to our continued engagement with shareholders, as well as the Human Resources and Compensation Committee's consideration of competitive market practices and its goal of linking executive pay and performance. The following features of our compensation programs continued in 2023:
Distinct metrics in the short-term and long-term incentive plans
Short-term incentive plan: Funded based on Adjusted Profit Before Taxes before certain incentive payouts ("Adj PBT(I)"), then modified by objectives driven by operational performance, Environmental, Social and Governance ("ESG") and Human Capital Management ("HCM") goals
Long-term incentive plan: Targets for performance-based restricted stock units set according to our externally stated goals for Earnings per Share ("EPS") and Adjusted Return on Invested Capital ("AROIC"), which accounts for mark-to-market timing differences and adjusts for readily marketable inventories
Long-term incentives heavily weighted (60%) toward equity awards tied to performance
Relative Total Shareholder Return (RTSR) as a modifier for performance-based restricted stock units
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