Albertsons Companies (ACI) Proxy Filing summary

Executive summary

• Annual meeting scheduled for August 8, 2024, to be held virtually, with voting on director elections, auditor ratification, and executive compensation advisory vote.

• Continued focus on the proposed merger with Kroger, aiming to expand reach, lower prices, and enhance customer and associate experience.

• Fiscal 2023 saw $79.2 billion in sales, $1.3 billion net income, and $1.7 billion adjusted net income; $276 million returned to shareholders via dividends.

• Strategic priorities included digital engagement, store experience, product innovation, operational modernization, and community impact.

Voting matters and shareholder proposals

• Proposals include electing 11 directors, ratifying Deloitte and Touche LLP as auditor, and an advisory vote on executive compensation.

• Board recommends voting “FOR” all proposals.

• Shareholders of record as of June 11, 2024, are eligible to vote.

• Procedures for submitting proposals and director nominations for the 2025 meeting are outlined.

Board of directors and corporate governance

• Board consists of 11 members, majority independent, with two new directors appointed in 2023 to enhance diversity.

• All standing committees are fully independent; separation of CEO and Chair roles; annual board and committee evaluations.

• Cerberus, the largest stockholder, retains rights to nominate up to four directors based on ownership.

• Board skills include financial literacy, risk management, food and retail, technology, and strategic planning.