Pilgrims Pride Corp Files DEF 14A with Executive Compensation Details
Ticker: PPC · Form: DEF 14A · Filed: Apr 1, 2024 · CIK: 802481
Sentiment: neutral
Topics: DEF 14A, Executive Compensation, Share-Based Awards, Pilgrims Pride, Corporate Governance
TL;DR
<b>Pilgrims Pride Corp has filed its DEF 14A, detailing executive compensation and share-based awards for the fiscal year ending December 31, 2023.</b>
AI Summary
PILGRIMS PRIDE CORP (PPC) filed a Proxy Statement (DEF 14A) with the SEC on April 1, 2024. Pilgrims Pride Corp filed a DEF 14A on April 1, 2024. The filing covers the period ending May 1, 2024. Key executive compensation data for Fabio Sandri and Jayson Penn is detailed. Share-based compensation transactions for PEO and Non-PEO members are outlined. The company's fiscal year ends on December 31st.
Why It Matters
For investors and stakeholders tracking PILGRIMS PRIDE CORP, this filing contains several important signals. This filing provides transparency into the compensation structure for key executives, including Fabio Sandri and Jayson Penn, which is crucial for shareholder understanding and governance. The detailed breakdown of share-based compensation, including equity awards granted and unvested awards from prior years, offers insight into the company's incentive alignment with its leadership.
Risk Assessment
Risk Level: low — PILGRIMS PRIDE CORP shows low risk based on this filing. The filing is a routine DEF 14A, providing standard disclosures on executive compensation and corporate governance, with no immediate red flags or significant changes indicated.
Analyst Insight
Review the executive compensation details and share-based award structures to understand the incentives and potential dilution for shareholders.
Key Numbers
- 2024-04-01 — Filing Date (Date the DEF 14A was filed)
- 2024-05-01 — Period of Report (Conformed period of report)
- 2023-12-31 — Fiscal Year End (Company's fiscal year end)
Key Players & Entities
- PILGRIMS PRIDE CORP (company) — Filer
- Fabio Sandri (person) — Member of executive compensation committee and PEO
- Jayson Penn (person) — Member of executive compensation committee
FAQ
When did PILGRIMS PRIDE CORP file this DEF 14A?
PILGRIMS PRIDE CORP filed this Proxy Statement (DEF 14A) with the SEC on April 1, 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 PILGRIMS PRIDE CORP (PPC).
Where can I read the original DEF 14A filing from PILGRIMS PRIDE CORP?
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 PILGRIMS PRIDE CORP.
What are the key takeaways from PILGRIMS PRIDE CORP's DEF 14A?
PILGRIMS PRIDE CORP filed this DEF 14A on April 1, 2024. Key takeaways: Pilgrims Pride Corp filed a DEF 14A on April 1, 2024.. The filing covers the period ending May 1, 2024.. Key executive compensation data for Fabio Sandri and Jayson Penn is detailed..
Is PILGRIMS PRIDE CORP a risky investment based on this filing?
Based on this DEF 14A, PILGRIMS PRIDE CORP presents a relatively low-risk profile. The filing is a routine DEF 14A, providing standard disclosures on executive compensation and corporate governance, with no immediate red flags or significant changes indicated.
What should investors do after reading PILGRIMS PRIDE CORP's DEF 14A?
Review the executive compensation details and share-based award structures to understand the incentives and potential dilution for shareholders. The overall sentiment from this filing is neutral.
How does PILGRIMS PRIDE CORP compare to its industry peers?
Pilgrims Pride Corporation operates in the poultry slaughtering and processing industry.
Are there regulatory concerns for PILGRIMS PRIDE CORP?
The filing is made under the Securities Exchange Act of 1934, requiring public companies to disclose information on executive compensation and other corporate matters.
Industry Context
Pilgrims Pride Corporation operates in the poultry slaughtering and processing industry.
Regulatory Implications
The filing is made under the Securities Exchange Act of 1934, requiring public companies to disclose information on executive compensation and other corporate matters.
What Investors Should Do
- Analyze the total compensation packages for named executive officers.
- Examine the details of equity awards granted and their vesting schedules.
- Review any shareholder proposals or voting matters presented in the proxy statement.
Year-Over-Year Comparison
This is a DEF 14A filing, which is a routine disclosure for executive compensation and annual meeting matters, and does not represent a change from previous filings of this type.
Filing Stats: 4,827 words · 19 min read · ~16 pages · Grade level 12 · Accepted 2024-04-01 15:35:37
Key Financial Figures
- $17.4 b — cal year 2023, we realized net sales of $17.4 billion, generated net income of $321.6 m
- $321.6 m — $17.4 billion, generated net income of $321.6 million, and attained GAAP EPS of $1.36.
- $1.36 — 321.6 million, and attained GAAP EPS of $1.36. Our adjusted EBITDA* (Earnings Before
- $1.0 b — xes, Depreciation and Amortization) was $1.0 billion, or a 6.0% margin. Moving forwa
- $0.01 — of common stock outstanding, par value $0.01 per share. What is the difference betw
Filing Documents
- ppc-20240401.htm (DEF 14A) — 742KB
- ppc-20240401_g1.jpg (GRAPHIC) — 79KB
- ppc-20240401_g2.jpg (GRAPHIC) — 101KB
- ppc-20240401_g3.jpg (GRAPHIC) — 91KB
- ppc-20240401_g4.jpg (GRAPHIC) — 451KB
- ppc-20240401_g5.jpg (GRAPHIC) — 187KB
- 0000802481-24-000024.txt ( ) — 3605KB
- ppc-20240401.xsd (EX-101.SCH) — 4KB
- ppc-20240401_def.xml (EX-101.DEF) — 6KB
- ppc-20240401_lab.xml (EX-101.LAB) — 7KB
- ppc-20240401_pre.xml (EX-101.PRE) — 5KB
- ppc-20240401_htm.xml (XML) — 201KB
Executive Compensation 29
Executive Compensation 29 Compensation Risks 38 Compensation Committee Interlocks and Insider Participation 38 Delinquent Section 16(a) Reports 38
Security Ownership 39
Security Ownership 39 Related Party Transactions 39 Proposal 4. Ratification of the Appointment of Independent Registered Public Accounting Firm 41 Report of the Audit Committee 42 Independent Registered Public Accounting Firm Fee Information 43 Householding of Stockholder Materials 45 Stockholder Proposals for 2025 Annual Meeting of Stockholders 45 Important Notice Regarding the Availability of Proxy Materials for the Stockholder Meeting to be Held on May 1, 2024 45 Other Business 46 Annex A - Reconciliation of GAAP Information to Non-GAAP Financial Measure 48 Pilgrim's Pride Corporation 1770 Promontory Circle Greeley, Colorado 80634 PROXY STATEMENT GENERAL INFORMATION Why did I receive this proxy statement? The Board of Directors (the "Board of Directors" or the "Board") of Pilgrim's Pride Corporation is soliciting stockholder proxies for use at our annual meeting of stockholders to be held at the Pilgrim's Pride corporate headquarters, at 1770 Promontory Circle, Greeley, Colorado, on Wednesday, May 1, 2024, at 8:00 a.m., local time, and any adjournments thereof (the "Annual Meeting" or the "meeting"). This proxy statement, the accompanying proxy card, and the 2023 annual report are being mailed to stockholders on or about April 1, 2024. Throughout this proxy statement, we will refer to Pilgrim's Pride Corporation as "Pilgrim's Pride," "Pilgrim's," "PPC," "we," "us" or the "Company." What is the record date for the Annual Meeting and why is it important? The Board of Directors has fixed March 12, 2024 as the record date for determining stockholders who are entitled to vote at the Annual Meeting (the "Record Date"). At the close of business on the Record Date, Pilgrim's Pride had 236,936,021 shares of common stock outstanding, par value $0.01 per share. What is the difference between holding shares as a stockholder of record and as a beneficial owner? Most stockholders of Pilgrim's Pride hold their shares through a broker, bank, or