Graco Inc. Files Definitive Proxy Statement (DEF 14A)

TL;DR

<b>Graco Inc. has filed its Definitive Proxy Statement (DEF 14A) for the period ending April 26, 2024.</b>

AI Summary

GRACO INC (GGG) filed a Proxy Statement (DEF 14A) with the SEC on March 13, 2024. Graco Inc. filed a Definitive Proxy Statement (DEF 14A) on March 13, 2024. The filing covers the period ending April 26, 2024. The company's fiscal year ends on December 27th. Graco Inc. is listed under SIC code 3561 for Pumps & Pump Equipment. The filing includes detailed executive compensation data for fiscal years ending 2022 and 2023.

Why It Matters

For investors and stakeholders tracking GRACO INC, this filing contains several important signals. This filing is crucial for shareholders to understand executive compensation and corporate governance matters before the annual meeting. Shareholders will vote on proposals related to executive pay, director elections, and other corporate actions.

Risk Assessment

Risk Level: low — GRACO INC shows low risk based on this filing. The filing is a routine DEF 14A, indicating standard corporate governance and disclosure practices with no immediate red flags.

Analyst Insight

Review the executive compensation details and any shareholder proposals to inform voting decisions.

Key Numbers

• 2024-03-13 — Filing Date (DEF 14A)
• 2024-04-26 — Period of Report (DEF 14A)
• 12-27 — Fiscal Year End (Company Data)
• 3561 — SIC Code (Pumps & Pump Equipment)

Key Players & Entities

• GRACO INC (company) — Filer
• DEF 14A (document) — Filing type
• 2024-03-13 (date) — Filing date
• 2024-04-26 (date) — Period of report
• 0000042888 (company) — Central Index Key
• 3561 (industry_code) — Standard Industrial Classification
• MINNEAPOLIS (location) — Business address city
• MN (location) — Business address state

FAQ

Industry Context

Graco Inc. operates in the Pumps & Pump Equipment industry (SIC 3561), a sector focused on manufacturing and distributing fluid handling systems.

Regulatory Implications

As a publicly traded company, Graco Inc. is subject to SEC regulations and disclosure requirements, including the filing of proxy statements.

What Investors Should Do

1. Analyze executive compensation packages disclosed in the filing.
2. Review any shareholder proposals and management recommendations.
3. Understand director nominations and qualifications.

Key Dates

• 2024-03-13: Filing Date — Definitive Proxy Statement (DEF 14A) filed.
• 2024-04-26: Period of Report End Date — The proxy statement covers corporate actions and disclosures up to this date.

Year-Over-Year Comparison

This is the initial filing of the DEF 14A for the current reporting period, providing updated information on executive compensation and corporate governance.

Key Financial Figures

• $2.196 billion — Repurchases Total Shareholder Return $2.196 billion A Graco record Up 2% from 2022 $646.
• $646.8 million — llion A Graco record Up 2% from 2022 $646.8 million A Graco record Up 13% from 2022 $2.9
• $2.94 — lion A Graco record Up 13% from 2022 $2.94 Up 11% from 2022 $0.94 per share Up
• $0.94 — 13% from 2022 $2.94 Up 11% from 2022 $0.94 per share Up 12% from 2022 Our 24 th
• $102 million — % from 2022 Our 24 th annual increase $102 million 1 Year = 30% 5 Year = 118% 10 Year =

Filing Documents

• d713680ddef14a.htm (DEF 14A) — 1007KB
• g713680dsp001.jpg (GRAPHIC) — 5KB
• g713680dsp001b.jpg (GRAPHIC) — 3KB
• g713680dsp075.jpg (GRAPHIC) — 2KB
• g713680dsp075b.jpg (GRAPHIC) — 4KB
• g713680dsp19a.jpg (GRAPHIC) — 66KB
• g713680dsp24a.jpg (GRAPHIC) — 53KB
• g713680dsp25a.jpg (GRAPHIC) — 54KB
• g713680dsp43a.jpg (GRAPHIC) — 97KB
• g713680dsp44a.jpg (GRAPHIC) — 52KB
• g713680dsp44b.jpg (GRAPHIC) — 55KB
• g713680dsp44c.jpg (GRAPHIC) — 56KB
• g713680dsp45.jpg (GRAPHIC) — 90KB
• 0001193125-24-066451.txt (&nbsp;) — 3064KB
• ggg-20231229.xsd (EX-101.SCH) — 7KB
• ggg-20231229_def.xml (EX-101.DEF) — 8KB
• ggg-20231229_lab.xml (EX-101.LAB) — 11KB
• ggg-20231229_pre.xml (EX-101.PRE) — 7KB
• d713680ddef14a_htm.xml (XML) — 120KB

EXECUTIVE COMPENSATION

EXECUTIVE COMPENSATION 19 C OMPENSATION D ISCUSSION AND A NALYSIS 19 Report of the Management Organization and Compensation Committee 30 Summary Compensation Table 31 Grants of Plan-Based Awards in 2023 33 Grants of Plan-Based Awards for Fiscal Year Ended December 29, 2023 33 Outstanding Equity Awards at 2023 Fiscal Year End 34 Option Exercises and Stock Vested in 2023 35 Change of Control and Post-Termination Payments 35 Potential Payments Upon Termination or Following a Change of Control at December 29, 2023 37 Retirement Benefits 38 Pension Benefits at 2023 Fiscal Year End 40 Nonqualified Deferred Compensation 40 Nonqualified Deferred Compensation at 2023 Fiscal Year End 40 CEO Succession Planning 41 CEO Pay Ratio 41 Pay Versus Performance 42 EQUITY COMPENSATION PLAN INFORMATION 47 BENEFICIAL OWNERSHIP OF SHARES 48 D IRECTOR AND E XECUTIVE O FFICER B ENEFICIAL O WNERSHIP 48 Principal Shareholder Beneficial Ownership 49 Delinquent Section 16(a) Reports 49 RELATED PERSON TRANSACTION APPROVAL POLICY 49 PROPOSAL 1: ELECTION OF DIRECTORS 51 PROPOSAL 2: RATIFICATION OF THE APPOINTMENT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM 52 PROPOSAL 3: ADVISORY VOTE ON OUR EXECUTIVE COMPENSATION 53 PROPOSAL 4: APPROVAL OF THE AMENDED AND RESTATED 2019 STOCK INCENTIVE PLAN 54 SHAREHOLDER PROPOSALS AND NOMINATIONS FOR THE ANNUAL MEETING IN THE YEAR 2025 61 OTHER MATTERS 61 APPENDIX A A-1 2 Graco Inc. 2024 Proxy Statement Table of Contents GENERAL REQUESTS FOR GRACO INC. 2023 ANNUAL REPORT ON FORM 10-K The Graco Inc. 2023 Annual Report on Form 10-K, including the Financial Statements and the Financial Statement Schedule, is available to the public at www.graco.com. A copy may also be obtained free of charge by calling (612) 623-6770 or writing: Investor Relations Graco Inc. P.O. Box 1441 Minneapolis, Minnesota 55440-1441 3 Graco Inc. 202

View Full Filing

View this DEF 14A filing on SEC EDGAR