General Mills DEF 14A: Executive Pay & Pension Details

Ticker: GIS · Form: DEF 14A · Filed: Aug 12, 2024 · CIK: 40704

General Mills INC DEF 14A Filing Summary
FieldDetail
CompanyGeneral Mills INC (GIS)
Form TypeDEF 14A
Filed DateAug 12, 2024
Risk Levellow
Pages15
Reading Time18 min
Key Dollar Amounts$3 billion, $10 billion, $2.5 billion, $19.9 billion, $3.4 billion
Sentimentneutral

Sentiment: neutral

Topics: executive-compensation, governance, pension-plans

TL;DR

GM exec pay & pension details out. Check the numbers for FY24.

AI Summary

General Mills Inc. filed its DEF 14A on August 12, 2024, detailing executive compensation and corporate governance matters for the fiscal year ending May 26, 2024. The filing includes information on equity awards granted to PEO and Non-PEO executives, as well as changes in actuarial present values of defined benefit and pension plans. Specific financial data related to these compensation elements for fiscal years 2022, 2023, and 2024 are presented.

Why It Matters

This filing provides transparency into how General Mills compensates its top executives and manages its pension liabilities, which can impact shareholder value and investor confidence.

Risk Assessment

Risk Level: low — DEF 14A filings are routine disclosures of executive compensation and corporate governance, typically not indicating immediate financial risk.

Key Numbers

Key Players & Entities

FAQ

What was the fair value of equity awards granted to PEOs in fiscal year 2024?

The filing provides data points for 'PEOMinusGrantDateFairValueofEquityAwardsGrantedinFiscalYearMember' for the fiscal year ending 2024-05-26, but the specific dollar amount is not directly extracted in this summary.

What was the aggregate change in actuarial present value of accumulated benefits under defined benefit and pension plans for Non-PEOs in fiscal year 2024?

The filing references 'NonPEOMinusAggregateChangeInActuarialPresentValueOfAccumulatedBenefitsUnderDefinedBenefitandPensionPlansReportedInSCTMember' for the fiscal year ending 2024-05-26, with specific figures not detailed in this summary.

What is the fair value at fiscal year end of outstanding and unvested equity awards granted in fiscal year 2024 to PEOs?

The filing includes 'PEOPlusFairValueAtFiscalYearEndOfOutstandingAndUnvestedEquityAwardsGrantedInTheFiscalYearMember' for the fiscal year ending 2024-05-26, but the exact value is not specified here.

What is the filing date of this DEF 14A?

The filing date is 20240812.

What is General Mills' fiscal year end?

General Mills' fiscal year ends on May 30th (0530), with the most recent reported fiscal year ending May 26, 2024.

Filing Stats: 4,439 words · 18 min read · ~15 pages · Grade level 14.4 · Accepted 2024-08-12 15:00:34

Key Financial Figures

Filing Documents

Executive Compensation Tables

Executive Compensation Tables 58 Potential Payments Upon Termination or Change in Control 67 CEO Pay Ratio 71 Pay Versus Performance 71 PROPOSAL NUMBER 3: Ratify Appointment of the Independent Registered Public Accounting Firm 74 Independent Registered Public Accounting Firm Fees 75 Auditor Services Pre-approval Policy 75 Audit Committee Report 75 PROPOSAL NUMBER 4: Shareholder Proposal – Disclosure of Regenerative Agriculture Practices Within Supply Chain 77 PROPOSAL NUMBER 5: Shareholder Proposal – Plastic Packaging 80 Stock 83 83 Delinquent Section 16(a) Reports 84 Related Policies 84 General Information 86 Other Business 86 Questions and Answers About the 2024 Annual Meeting and Voting 86 Solicitation of Proxies 91 Delivery and Viewing of Proxy Materials 91 Annual Reports 91 Your Vote is Important 91 Appendix A: Non-GAAP Financial Measures A-1 Frequently Requested Information Annual Board and Committee Evaluation Process 40 Board Leadership Structure 35 Overseeing Sustainability and Global Impact 32 CEO Pay Ratio 71 Robust Clawback Policies 56 Director Independence Determination 41 Independent Director Stock Ownership Policy 84 Elements of Compensation 43 Proxy Summary: Fiscal Year Financial Highlights 6 Overseeing Leadership Development, Culture and Human Capital Management 28 The Industry Peer Group 55 Shareholder Engagement Program 34 Summary Compensation Table 58 4 General Mills, Inc. Back to Contents Proxy Summary Guided by our purpose of making food the world loves, General Mills is executing our Accelerate strategy to drive sustainable, profitable growth and top-tier shareholder returns over the long-term. While facing a more challenging operating environment, we were able to delive

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