MGP Ingredients Files Definitive Proxy Statement

TL;DR

<b>MGP Ingredients, Inc. has filed its Definitive Proxy Statement for the fiscal year ending December 31, 2023.</b>

AI Summary

MGP INGREDIENTS INC (MGPI) filed a Proxy Statement (DEF 14A) with the SEC on April 9, 2024. MGP Ingredients, Inc. filed a Definitive Proxy Statement on April 9, 2024. The filing covers the fiscal year ending December 31, 2023. The company's principal executive offices are located at 1300 Main St, Atchison, KS 66002. The filing is made pursuant to Section 14(a) of the Securities Exchange Act of 1934. No filing fee was required for this submission.

Why It Matters

For investors and stakeholders tracking MGP INGREDIENTS INC, this filing contains several important signals. This filing is a standard regulatory requirement for publicly traded companies, providing shareholders with information necessary to vote on corporate matters. The proxy statement details executive compensation, board nominations, and other shareholder proposals, which are crucial for corporate governance and investor decision-making.

Risk Assessment

Risk Level: — MGP INGREDIENTS INC shows moderate risk based on this filing. The filing is a routine DEF 14A, indicating no immediate material changes or urgent disclosures beyond standard corporate governance information.

Analyst Insight

Review the proxy statement for details on executive compensation, board composition, and any shareholder proposals to understand the company's governance and strategic direction.

Key Numbers

• 2023-12-31 — Fiscal Year End (Conformed Period of Report)
• 2024-04-09 — Filing Date (As of Date)
• 1300 Main St, Atchison, KS — Business Address (Registrant's location)

Key Players & Entities

• MGP Ingredients, Inc. (company) — Registrant
• 1300 Main St, Atchison, KS 66002 (location) — Business Address
• Securities Exchange Act of 1934 (regulation) — Filing basis
• 2023-12-31 (date) — Fiscal Year End
• 2024-04-09 (date) — Filing Date

FAQ

Industry Context

MGP Ingredients operates in the wholesale beer, wine, and distilled alcoholic beverages sector.

Regulatory Implications

The filing is made under the Securities Exchange Act of 1934, specifically Section 14(a), which governs the solicitation of proxies.

What Investors Should Do

1. Analyze executive compensation packages detailed in the proxy statement.
2. Review board member nominations and any related proposals.
3. Identify any shareholder proposals and understand the company's stance.

Key Dates

• 2024-04-09: Filing of Definitive Proxy Statement — Provides updated corporate governance and compensation information for the fiscal year 2023.
• 2023-12-31: Fiscal Year End — The period covered by the financial and operational information in the proxy statement.

Year-Over-Year Comparison

This is a DEF 14A filing, which is a standard annual proxy statement and does not represent a change from previous filings of the same type.

Filing Documents

• mgpi-20240409.htm (DEF 14A) — 834KB
• mgpi-20240409_g1.jpg (GRAPHIC) — 34KB
• mgpi-20240409_g2.jpg (GRAPHIC) — 5KB
• mgpi-20240409_g3.jpg (GRAPHIC) — 109KB
• mgpi-20240409_g4.jpg (GRAPHIC) — 101KB
• mgpi-20240409_g5.jpg (GRAPHIC) — 101KB
• mgpi-20240409_g6.jpg (GRAPHIC) — 106KB
• mgpi-20240409_g7.jpg (GRAPHIC) — 3369KB
• mgpi-20240409_g8.jpg (GRAPHIC) — 4107KB
• 0001628280-24-015469.txt (&nbsp;) — 16941KB
• mgpi-20240409.xsd (EX-101.SCH) — 2KB
• mgpi-20240409_def.xml (EX-101.DEF) — 3KB
• mgpi-20240409_lab.xml (EX-101.LAB) — 3KB
• mgpi-20240409_pre.xml (EX-101.PRE) — 2KB
• mgpi-20240409_htm.xml (XML) — 79KB

From the Filing

mgpi-20240409 UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 SCHEDULE 14A Proxy Statement Pursuant to Section 14(a) of the Securities Exchange Act of 1934 (Amendment No. ) Filed by the Registrant x Filed by a Party other than the Registrant Check the appropriate box: Preliminary Proxy Statement Confidential, for Use of the Commission Only (as permitted by Rule 14a-6(e)(2)) x Definitive Proxy Statement Definitive Additional Materials Soliciting Material under 240.14a-12 MGP Ingredients, Inc. (Name of Registrant as Specified In Its Charter) (Name of Person(s) Filing Proxy Statement, if other than the Registrant) Payment of Filing Fee (Check all boxes that apply): x No fee required Fee paid previously with preliminary materials Fee computed on table in exhibit required by Item 25(b) per Exchange Act Rules 14a-6(i)(1) and 0-11 NOTICE OF 2024 ANNUAL MEETING OF STOCKHOLDERS AND PROXY STATEMENT MGP INGREDIENTS, INC. NOTICE OF 2024 ANNUAL MEETING OF STOCKHOLDERS To our Stockholders: We are pleased to invite you to participate in the 2024 Annual Meeting of Stockholders of MGP Ingredients, Inc. This meeting will be held via live webcast at www.virtualshareholdermeeting.com/MGPI2024 on May 23, 2024, beginning at 10:00 a.m., Central Time. At this meeting, our stockholders will be asked to: 1. Elect nine directors; 2. Ratify the appointment of KPMG LLP as our independent registered public accounting firm for 2024; 3. Approve, on an advisory basis, the compensation of our named executive officers; 4. Approve the MGP Ingredients, Inc. 2024 Equity Incentive Plan; and 5. Consider any other business as may properly come before the meeting and any postponements or adjournments of the meeting. Only stockholders of record (or their proxy holders) as of the close of business on March 25, 2024 may vote at the meeting or any postponements or adjournments of the meeting. We are distributing our proxy materials to our stockholders primarily online under the "Notice and Access" rules of the Securities and Exchange Commission. This approach reduces printing and mailing costs and the environmental impact of our Annual Meeting, while providing a convenient way for our stockholders to access the materials and vote. Your vote is important . Please review the instructions on each of your voting options described in this proxy statement and in the notice you received by mail. Whether or not you plan to participate in the Annual Meeting, we hope you will vote as soon as possible. By Order of the Board of Directors, Karen L. Seaberg Chairman of the Board April 9, 2024 PROXY STATEMENT We are providing this proxy statement (this "Proxy Statement") to you in connection with the solicitation by the Board of Directors of MGP Ingredients, Inc. of proxies to be voted at our Annual Meeting of Stockholders to be held on May 23, 2024 (including any adjournment or postponement thereof, the "Annual Meeting"). References in this Proxy Statement to "MGP," the "Company," "we," "our," "ours," "us," and similar terms refer to MGP Ingredients, Inc. and its consolidated subsidiaries, unless the context indicates otherwise. Our proxy materials include the Notice of 2024 Annual Meeting of Stockholders, this Proxy Statement, and our Annual Report on Form 10-K for the year ended December 31, 2023. If you requested print versions by mail, the proxy materials also include the proxy card or voting instruction form for the Annual Meeting. The Notice of 2024 Annual Meeting of Stockholders, this Proxy Statement, and our form of proxy card are first being distributed or made available to stockholders on or abo ut April 9, 2024. Use of "Notice and Access" Pursuant to rules adopted by the Securities and Exchange Commission (the "SEC"), we use the Internet as the primary means of furnishing proxy materials to stockholders. The Notice of Internet Availability of Proxy Materials (the "Notice"), which is being mailed to our stockholders, instructs stockholders on how to access the proxy materials online or request a printed set of the proxy materials. We encourage stockholders to take advantage of the online availability of the proxy materials to help reduce the environmental impact of our annual meetings and the cost associated with the printing and mailing of materials. Our principal executive offices are located at Cray Business Plaza, 100 Commercial Street, P.O. Box 130, Atchison, Kansas 66002 and our telephone number is (913) 367-1480. Important Notice Regarding the Availability of Proxy Materials: The Notice of 2024 Annual Meeting of Stockholders, this Proxy Statement and our Annual Report on Form 10-K for the year ended December 31, 2023 are available at www.proxyvote.com (with your control number) and www.mgpingredients.com. ATTENDING THE ANNUAL MEETING As in recent years, we are conducting this year's Annual Meeting entirely online. To attend, vote, and submit questions during the Ann

View Full Filing

View this DEF 14A filing on SEC EDGAR