Albertsons Files Proxy Statement for August 8th Annual Meeting

Ticker: ACI · Form: DEF 14A · Filed: Jun 21, 2024 · CIK: 1646972

Albertsons Companies, Inc. DEF 14A Filing Summary
FieldDetail
CompanyAlbertsons Companies, Inc. (ACI)
Form TypeDEF 14A
Filed DateJun 21, 2024
Risk Levellow
Pages15
Reading Time18 min
Key Dollar Amounts$2.0 billion, $79.2 b, $1.3 b, $2.23, $1.7 b
Sentimentneutral

Sentiment: neutral

Topics: proxy-statement, governance, annual-meeting

TL;DR

Albertsons DEF 14A is out - vote on exec pay & board for Aug 8th meeting.

AI Summary

Albertsons Companies, Inc. filed its definitive proxy statement (DEF 14A) on June 21, 2024, for its annual meeting on August 8, 2024. The filing details executive compensation, board nominations, and other corporate governance matters for the fiscal year ending February 2024. Shareholders will vote on proposals including the election of directors and the ratification of PricewaterhouseCoopers LLP as its independent registered public accounting firm.

Why It Matters

This filing provides crucial information for shareholders to make informed voting decisions on company leadership and governance, impacting the company's strategic direction and financial oversight.

Risk Assessment

Risk Level: low — This is a routine annual proxy filing, not indicating any immediate financial distress or significant new risks.

Key Numbers

  • 20240808 — Annual Meeting Date (Shareholders will vote on proposals at this date.)
  • 0224 — Fiscal Year End (The proxy statement covers the fiscal year ending on this date.)

Key Players & Entities

  • Albertsons Companies, Inc. (company) — Registrant
  • PricewaterhouseCoopers LLP (company) — Independent Registered Public Accounting Firm

FAQ

What is the primary purpose of this DEF 14A filing?

The primary purpose is to provide shareholders with information required for the annual meeting, including details on executive compensation, board nominations, and voting on corporate matters.

When is the annual meeting of Albertsons Companies, Inc. shareholders?

The annual meeting is scheduled for August 8, 2024.

Who is proposed to be Albertsons' independent registered public accounting firm?

PricewaterhouseCoopers LLP is proposed to be ratified as the independent registered public accounting firm.

What period does this proxy statement cover?

The proxy statement covers the fiscal year ending February 2024.

What type of filing is this?

This is a Definitive Proxy Statement (DEF 14A).

Filing Stats: 4,396 words · 18 min read · ~15 pages · Grade level 15.9 · Accepted 2024-06-21 16:09:53

Key Financial Figures

  • $2.0 billion — r Life strategy—investing approximately $2.0 billion in our stores and technology, while adv
  • $79.2 b — al sales increased 3%, total sales were $79.2 billion, and net income was $1.3 billion,
  • $1.3 b — were $79.2 billion, and net income was $1.3 billion, or $2.23 per share. Adjusted net
  • $2.23 — on, and net income was $1.3 billion, or $2.23 per share. Adjusted net income was $1.7
  • $1.7 b — 2.23 per share. Adjusted net income was $1.7 billion, or $2.88 per share, and Adjusted
  • $2.88 — djusted net income was $1.7 billion, or $2.88 per share, and Adjusted EBITDA was $4.3
  • $4.3 billion — 2.88 per share, and Adjusted EBITDA was $4.3 billion. We also returned $276 million to our s
  • $276 million — ITDA was $4.3 billion. We also returned $276 million to our stockholders this fiscal year th
  • $1 million — ing Neighbors Program donated more than $1 million to support meals for families affected
  • $0.01 — of our Class A common stock, par value $0.01 per share ("Common Stock") as of the cl

Filing Documents

Executive Compensation Best Practices

Executive Compensation Best Practices 49 Overview of Fiscal 2023 Executive Compensation 49 Design of Our Executive Compensation Program 58 The Process of Setting Executive Compensation 59 Compensation Risk Assessment 60 Compensation Committee Report 61 Summary Compensation Table 63 Grants of Plan Based Awards 64 Outstanding Equity Awards at Fiscal Year End 65 Option Exercises and Stock Vested 65 Nonqualified Deferred Compensation 66 Discussion of the Terms of the Employment Agreements with Our NEOs 70 CEO Pay Ratio 71 Pay Versus Performance Disclosure 74 Most Important Financial Performance Measures 75

Security Ownership of Certain Beneficial Owners and Management

Security Ownership of Certain Beneficial Owners and Management 76 Equity Compensation Plan Information 77 Questions and Answers About the Annual Meeting and Voting 82 Stockholder Proposals and Director Nominations for the 2025 Annual Meeting of Stockholders 83 Other Matters 83 Availability of Report on Form 10-K 83 Incorporation by Reference 83 Delivery of Documents to Stockholders Sharing an Address 84 Transfer Agent Information 84

Forward-Looking Statements

Forward-Looking Statements Albertsons Companies 4 2024 Proxy Statement Proxy Statement Summary This summary highlights information contained elsewhere in this proxy statement and in our annual report on Form 10-K for the year ended February 24, 2024 (the "2023 Form 10-K") as filed with the Securities and Exchange Commission (the "SEC") on April 22, 2024, for Albertsons Companies, Inc. (the "Company", "Albertsons", "we", "ACI", "our" or "us"). You should read this proxy statement and the 2023 Form 10-K before voting. Annual Meeting of Stockholders DATE AND TIME August 8, 2024 3:00 p.m., Mountain Daylight Time PLACE: www.virtualshareholdermeeting.com/ACI2024 RECORD DATE: June 11, 2024 We are holding the Annual Meeting in a virtual-only format. You will not be able to attend the Annual Meeting in person. How to Vote BY INTERNET Go to the website http://www.proxyvote.com and follow the instructions, 24 hours a day, seven days a week. You will need the 16-digit number included on your proxy card. BY TELEPHONE From a touch-tone telephone, dial 1-800-690-6903 and follow the recorded instructions, 24 hours a day, seven days a week. You will need the 16-digit number included on your proxy card. BY MAIL Mark your selections on the proxy card. Date and sign your name exactly as it appears on your proxy card. Mail the proxy card in the enclosed postage-paid envelope provided to you. See "Questions and Answers About the Annual Meeting and Voting" for information regarding attending the Annual Meeting. Albertsons Companies 5 2024 Proxy Statement Annual Meeting Agenda and Voting Roadmap PROPOSAL 1: Election of 11 Director Nominees At our Annual Meeting, stockholders will elect 11 directors. The nominees were recommended for nomination by our Governance, Compliance and ESG Committee (the "Governance Committee") and our board of directors (the "Board") approved the nominees for re-election. If elected, the directors will hol

Executive Compensation Advisory Vote

Executive Compensation Advisory Vote The Compensation Committee structures our executive compensation program to attract, motivate, reward, and retain high caliber talent to lead our Company's efforts to increase our competitive advantage and deliver results. This includes building a solid foundation for long-term growth while consistently achieving strong near-term results. As part of the process for setting executive compensation, the Compensation Committee annually reviews our compensation program and considers stockholder feedback. We value the input and insights of our stockholders and are committed to continued engagement with them. Based on feedback received from stockholders with respect to our say-on-pay proposal for the 2023 annual meeting, beginning fiscal 2024, the Compensation Committee changed the grant date of the annual long-term incentive awards from the first day of the fiscal year to two days after the release of the Company's earnings for the fourth quarter and full year of the prior fiscal year. The annual award grant date for fiscal 2024 was April 24, 2024. The Compensation Committee made no other modifications to the design of our executive compensation program and determined it strongly aligns with the interests of our stockholders by directly linking pay to Company and individual performance and delivery on key strategic goals. At the 2023 annual meeting, our stockholders overwhelmingly approved our executive compensation program with 97.6% of the votes cast in favor. How We Pay for Performance We executed on our pay for performance philosophy in fiscal 2023 by: Providing competitive, market-driven base salaries to our NEOs with no increase from fiscal 2022 Allocating a high percentage of annual target compensation for our NEOs as variable For Mr. Sankaran, 90% of target compensation was variable of which 55% was performance-based For our other NEOs, 85% of target compensation was variable of which 50% was performance-bas

View Full Filing

View this DEF 14A filing on SEC EDGAR

View on ReadTheFiling | About | Contact | Privacy | Terms

Data from SEC EDGAR. Not affiliated with the SEC. Not investment advice. © 2026 OpenDataHQ.