Seaboard Corp. Files Definitive Proxy Statement for 2024 Annual Meeting

TL;DR

<b>Seaboard Corporation has filed its 2024 Definitive Proxy Statement detailing information for its upcoming Annual Meeting of Stockholders.</b>

AI Summary

SEABOARD CORP /DE/ (SEB) filed a Proxy Statement (DEF 14A) with the SEC on March 8, 2024. Seaboard Corporation filed a Definitive Proxy Statement (DEF 14A) on March 8, 2024. The filing pertains to the company's 2024 Annual Meeting of Stockholders. The reporting period for the proxy statement covers fiscal year 2023. The company's principal executive offices are located at 9000 W. 67th Street, Shawnee Mission, KS 66202. Seaboard Corporation was incorporated in Delaware and operates in the Wholesale - Farm Product Raw Materials sector.

Why It Matters

For investors and stakeholders tracking SEABOARD CORP /DE/, this filing contains several important signals. This filing provides shareholders with essential information regarding the proposals to be voted on at the annual meeting, including director elections and executive compensation. As a DEF 14A filing, it signifies the formal distribution of proxy materials to shareholders, enabling them to exercise their voting rights.

Risk Assessment

Risk Level: low — SEABOARD CORP /DE/ shows low risk based on this filing. The filing is a routine proxy statement (DEF 14A) and does not contain new financial performance data or significant strategic changes, indicating a low level of immediate market impact.

Analyst Insight

Shareholders should review the proxy statement to understand the proposals, director nominees, and executive compensation details before the annual meeting.

Key Numbers

• 20240308 — Filing Date (Date the DEF 14A was filed)
• 20240422 — Period of Report (Conformed period of report for the proxy statement)
• 0000088121-24-000034 — Accession Number (Unique identifier for the filing)
• 1934 — SEC Act (The Securities Exchange Act of 1934)

Key Players & Entities

• SEABOARD CORP /DE/ (company) — Filer name
• 9000 W. 67TH STREET (address) — Business Address Street 1
• SHAWNEE MISSION (location) — Business Address City
• KS (location) — Business Address State
• 66202 (postal_code) — Business Address Zip
• DE (location) — State of Incorporation
• SEABOARD ALLIED MILLING CORP (company) — Former Company Name
• HATHAWAY BAKERIES INC (company) — Former Company Name

FAQ

Industry Context

Seaboard Corporation operates within the Wholesale - Farm Product Raw Materials sector, indicating its role in the agricultural supply chain.

Regulatory Implications

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

What Investors Should Do

1. Review the proposals and director nominees presented in the proxy statement.
2. Understand the executive compensation structure and any related proposals.
3. Vote your shares in accordance with your investment decisions before the annual meeting.

Key Dates

• 2024-03-08: Filing Date — The date the Definitive Proxy Statement was officially filed with the SEC.
• 2024-04-22: Period of Report — The date as of which the proxy statement's reporting period is conformed.

Year-Over-Year Comparison

This is a DEF 14A filing, which is a standard proxy statement, and does not represent a change from previous filings in terms of format or purpose.

Key Financial Figures

• $1.00 — ard had 971,055 shares of common stock, $1.00 par value, outstanding and entitled to
• $37,500 — tors for their service as a director: $37,500 quarterly retainer for the Chairwoman o
• $20,000 — ainer for the Chairwoman of the Board; $20,000 quarterly retainer (other than for the
• $12,500 — e Chairwoman of the Board); Additional $12,500 quarterly retainer for the lead indepen
• $2,500 — lead independent director; Additional $2,500 per quarter for the Chairman of the Aud

Filing Documents

• tmb-20240422xdef14a.htm (DEF 14A) — 828KB
• tmb-20240422xdef14a010.jpg (GRAPHIC) — 75KB
• tmb-20240422xdef14a011.jpg (GRAPHIC) — 76KB
• tmb-20240422xdef14a012.jpg (GRAPHIC) — 75KB
• tmb-20240422xdef14a013.jpg (GRAPHIC) — 50KB
• tmb-20240422xdef14a015.jpg (GRAPHIC) — 1KB
• tmb-20240422xdef14a016.jpg (GRAPHIC) — 1KB
• tmb-20240422xdef14a017.jpg (GRAPHIC) — 1KB
• 0000088121-24-000034.txt (&nbsp;) — 2292KB
• tmb-20240422.xsd (EX-101.SCH) — 5KB
• tmb-20240422_def.xml (EX-101.DEF) — 5KB
• tmb-20240422_lab.xml (EX-101.LAB) — 8KB
• tmb-20240422_pre.xml (EX-101.PRE) — 5KB
• tmb-20240422xdef14a_htm.xml (XML) — 296KB

: ELECTION OF DIRECTORS

ITEM 1: ELECTION OF DIRECTORS Our Board of Directors has fixed the number of directors at five. The Board has nominated the five persons set forth below for election at the 2024 annual meeting. Unless otherwise specified, proxies will be voted in favor of the election as directors of the following five persons for a term of one year and until their successors are elected and qualified. Name Age Principal Occupations and Positions and Specific Experience, Qualifications, Attributes or Skills Director Since Ellen S. Bresky 70 Director and Chairwoman, Seaboard Corporation. Prior to her appointment as Chairwoman, Ms. Bresky served on the Boards of Directors of the Wally Foundation, the Bresky Foundation and the Seaboard Foundation. Her vested interest in Seaboard on the basis of her beneficial stock ownership position makes her qualified as a Director and Chairwoman for Seaboard. 2020 David A. Adamsen 72 Director and Member of Audit Committee, Seaboard Corporation; former Vice President – Wholesale Sales (January 2009-2010), C&S Wholesale Grocers (wholesale food distribution company). Mr. Adamsen worked for more than 35 years in the food, food distribution, and food manufacturing businesses. His experience and knowledge make him qualified as a Director for Seaboard. 1995 Douglas W. Baena 81 Lead Independent Director and Chairman of Audit Committee, Seaboard Corporation; self-employed (since 1997), engaging in facilitation of equipment lease financings and consulting, doing business as CreditAmerica Corporation. Mr. Baena has an educational background in accounting and has experience working as a Certified Public Accountant. He also has experience arranging lease financing transactions for companies. His accounting and finance background provides experience and attributes that are desirable for a Seaboard Director. 2001 Paul M. Squires 69 Director, Seaboard Corporation; Chief Operating Officer, Seaboard Flour LLC (since 2006); Controller, Sea

EXECUTIVE COMPENSATION AND OTHER INFORMATION

EXECUTIVE COMPENSATION AND OTHER INFORMATION The following table shows all compensation earned, during the fiscal years indicated, by the Chief Executive Officer, the Chief Financial Officer and the three other highest paid executive officers of Seaboard (the "Named Executive Officers") for such period in all capacities in which they have served: Summary Compensation Table Change in Pension Value and Non- Qualified Name Deferred and Compensation All Other Principal Salary (1) Bonus (2) Earnings (3) Compensation (4) Total Position Year ($) ($) ($) ($) ($) Robert L. Steer 2023 1,102,400 2,700,000 1,625,253 251,146 5,678,799 President, 2022 1,060,000 3,000,000 1,045,695 269,616 5,375,311 Chief Executive Officer 2021 1,000,000 3,000,000 1,447,513 206,373 5,653,886 David H. Rankin 2023 520,000 540,000 140,737 93,446 1,294,183 Executive Vice President, 2022 500,000 600,000 - 0 - 106,461 1,206,461 Chief Financial Officer 2021 425,491 700,000 1,412,349 70,881 2,608,721 Edward A. Gonzalez 2023 624,000 2,000,000 - 0 - 188,754 2,812,754 Presi

View Full Filing

View this DEF 14A filing on SEC EDGAR