Kraft Heinz Co Files Definitive Proxy Statement (DEF 14A)

Ticker: KHC · Form: DEF 14A · Filed: Mar 22, 2024 · CIK: 1637459

Kraft Heinz CO DEF 14A Filing Summary
FieldDetail
CompanyKraft Heinz CO (KHC)
Form TypeDEF 14A
Filed DateMar 22, 2024
Risk Levellow
Pages15
Reading Time18 min
Sentimentneutral

Sentiment: neutral

Topics: DEF 14A, Proxy Statement, Kraft Heinz, Corporate Governance, Executive Compensation

TL;DR

<b>Kraft Heinz Co has filed its Definitive Proxy Statement (DEF 14A) for the fiscal year ending December 28, 2024.</b>

AI Summary

Kraft Heinz Co (KHC) filed a Proxy Statement (DEF 14A) with the SEC on March 22, 2024. Filing type: DEF 14A (Definitive Proxy Statement). Reporting period: Fiscal year ending December 28, 2024. Filed as of date: March 22, 2024. Incorporation state: Delaware. Primary SIC code: 2030 (Canned, Frozen & Preserved Fruit, Veg & Food Specialties).

Why It Matters

For investors and stakeholders tracking Kraft Heinz Co, this filing contains several important signals. This filing provides detailed information on executive compensation, board of directors, and shareholder proposals, which are crucial for investors to understand governance and potential changes. As a DEF 14A, it signifies the company is seeking shareholder approval for matters such as director elections and executive compensation plans, impacting corporate strategy and shareholder value.

Risk Assessment

Risk Level: low — Kraft Heinz Co shows low risk based on this filing. The filing is a routine DEF 14A, indicating standard corporate governance procedures rather than immediate financial distress or significant operational shifts.

Analyst Insight

Review the executive compensation details and any shareholder proposals to assess potential impacts on future company performance and strategy.

Key Numbers

Key Players & Entities

FAQ

When did Kraft Heinz Co file this DEF 14A?

Kraft Heinz Co filed this Proxy Statement (DEF 14A) with the SEC on March 22, 2024.

What is a DEF 14A filing?

A DEF 14A is a definitive proxy statement sent to shareholders before annual meetings, covering executive compensation, board nominations, and shareholder votes. This particular DEF 14A was filed by Kraft Heinz Co (KHC).

Where can I read the original DEF 14A filing from Kraft Heinz Co?

You can access the original filing directly on the SEC's EDGAR system. The filing is publicly available and includes all exhibits and attachments submitted by Kraft Heinz Co.

What are the key takeaways from Kraft Heinz Co's DEF 14A?

Kraft Heinz Co filed this DEF 14A on March 22, 2024. Key takeaways: Filing type: DEF 14A (Definitive Proxy Statement). Reporting period: Fiscal year ending December 28, 2024. Filed as of date: March 22, 2024.

Is Kraft Heinz Co a risky investment based on this filing?

Based on this DEF 14A, Kraft Heinz Co presents a relatively low-risk profile. The filing is a routine DEF 14A, indicating standard corporate governance procedures rather than immediate financial distress or significant operational shifts.

What should investors do after reading Kraft Heinz Co's DEF 14A?

Review the executive compensation details and any shareholder proposals to assess potential impacts on future company performance and strategy. The overall sentiment from this filing is neutral.

How does Kraft Heinz Co compare to its industry peers?

Kraft Heinz operates in the food processing industry, specifically focusing on canned, frozen, and preserved food specialties.

Are there regulatory concerns for Kraft Heinz Co?

This filing is made under the Securities Exchange Act of 1934, requiring public companies to disclose information relevant to shareholders.

Industry Context

Kraft Heinz operates in the food processing industry, specifically focusing on canned, frozen, and preserved food specialties.

Regulatory Implications

This filing is made under the Securities Exchange Act of 1934, requiring public companies to disclose information relevant to shareholders.

What Investors Should Do

  1. Analyze the compensation packages for named executive officers.
  2. Review the proposals to be voted on by shareholders.
  3. Examine the composition and independence of the Board of Directors.

Year-Over-Year Comparison

This is a DEF 14A filing, which is a standard disclosure for annual meetings and executive compensation, not a direct comparison to a prior period's financial performance.

Filing Stats: 4,424 words · 18 min read · ~15 pages · Grade level 14.6 · Accepted 2024-03-22 08:48:09

Filing Documents

EXECUTIVE COMPENSATION

EXECUTIVE COMPENSATION 2023 Compensation Highlights 57 Proposal 2 Advisory Vote to Approve Executive Compensation 58 Compensation Discussion and Analysis 59

Executive Compensation Tables

Executive Compensation Tables 83 Pay Ratio Disclosure 94 Pay Versus Performance Disclosure 95 AUDIT MATTERS Proposal 3 Ratification of the Selection of Independent Auditors 100 Selection of Independent Auditors 101 Independent Auditors' Fees and Services 101 Pre-Approval Policy 101 Audit Committee Report for the Fiscal Year Ended December 30, 2023 102 2024 Proxy Statement 1 Back to Contents STOCKHOLDER PROPOSALS Proposal 4 Stockholder Proposal – Report on Recyclability Claims 104 Proposal 5 Stockholder Proposal – Report on Group-Housed Pork 107 Proposal 6 Stockholder Proposal – Report on Greenhouse Gas Goals 111 OTHER INFORMATION Information Regarding the Annual Meeting 115 Stockholder Proposals 121 Diversity Quick Summary 122 Other Matters 122 APPENDIX A Non-GAAP Financial Measures 123 Websites Links to websites included in this Proxy Statement are provided solely for convenience. Information contained on websites, including on our website, is not, and will not be deemed to be, a part of this Proxy Statement or incorporated by reference into any of our other filings with the Securities and Exchange Commission (the "SEC").

Forward-Looking Statements

Forward-Looking Statements This Proxy Statement contains information that may constitute

forward-looking statements, as defined under U.S. federal securities laws. Words such as "aim," "anticipate,"

forward-looking statements, as defined under U.S. federal securities laws. Words such as "aim," "anticipate," "aspire," "believe," "could," "estimate," "expect," "intend," "may," "might," "plan," "seek," "will, "would," and variations of such words and similar future or conditional expressions are intended to identify forward-looking statements. However, the absence of these words or similar expressions does not mean that a statement is not forward-looking. All statements regarding performance, events, developments, or achievements that we expect or anticipate will occur in the future, including statements expressing general views about future operating results or our targeted achievement of sustainability and other goals, are forward-looking statements. Management believes that these forward-looking statements are reasonable as and when made. However, caution should be taken not to place undue reliance on any such forward-looking statements as such statements speak only as of the date made. In addition, forward-looking statements are subject to certain risks and uncertainties that could cause our actual results to differ materially from historical experience and our present expectations or projections. These risks and uncertainties include, but are not limited to, those described in Item 1A, Risk Factors, in our Annual Report on Form 10-K for the year ended December 30, 2023 and those set forth in our future filings with the SEC. We disclaim and do not undertake any obligation to update, revise, or withdraw any forward-looking statements, whether as a result of new information, future events, or otherwise, except as required by applicable law or regulation. Forward-looking and other statements in this document may also address our environmental, social, and governance (ESG) and diversity, equity, inclusion, and belonging progress, plans, and goals. The inclusion of such statements is not an indication that these are material to investors or required to be disclos

BUSINESS

BUSINESS Our iconic and emerging food and beverage brands are designed to reflect the rich diversity of our customers and consumers of our products. We aim to choose suppliers, partners, and vendors to help drive toward our supplier diversity aspirations and make our business stronger. We strive for consumers of our products to see their needs represented in our brands, marketing campaigns, and media we choose. COMMUNITY We are recognized as a DEI&B leader in and outside the food and beverage industry. We collaborate with customers, consumers, partners, and suppliers to enrich the communities in which we operate. We provide learning opportunities to drive understanding between people from different backgrounds, harnessing the power of food. We believe that diverse backgrounds and perspectives reflect our diverse consumer base and make us stronger, more thoughtful, and more innovative. We also believe that our DEI&B efforts will make a lasting impact for our employees and the marketplace. Our commitments to DEI&B have been continuously expanding as part of our multi-year strategy. Each day, we are working to create a healthier, more equitable global workplace and world. As of December 30, 2023, our employee and leader population included: Women People of Color Global Management Roles Executive Leadership Team U.S. Salaried Employees Executive Leadership Team 43% 33% Women 78% People of Color 29% 2024 Proxy Statement 7 Back to Contents Company Overview Voting Roadmap Stockholder Engagement Our Board Governance Director Compensation Beneficial Executive Compensation Audit Matters Stockholder Proposals Other Information Appendix A. Non-GAAP We have established 2025 engagement and DEI&B aspirations, which include: top quartile 30% 50% global employee engagement survey results related to DEI&B of our salaried U.S. employee population identifying as people of color of our global management positions filled

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