Lifetime Brands (LCUT) Proxy Filing summary

Executive summary

• Annual Meeting scheduled for June 18, 2025, to be held virtually, with shareholders voting on director elections, auditor ratification, and executive compensation approval.

• 2024 financials: net sales of $683.0M (down from $686.7M in 2023), adjusted income from operations of $44.7M, net loss of $15.2M, adjusted net income of $12.6M, and adjusted EBITDA of $55.4M.

• Proxy materials are available online, supporting sustainability and cost reduction.

Voting matters and shareholder proposals

• Shareholders will vote to elect ten directors, ratify Ernst & Young LLP as auditor for 2025, and approve 2024 executive compensation on a non-binding basis.

• Board recommends voting FOR all proposals.

• Procedures for shareholder proposals and director nominations for the 2026 meeting are outlined, with specific deadlines and requirements.

Board of directors and corporate governance

• Board expanded to ten members, with three female and one racially/ethnically diverse director.

• Eight of ten directors are independent; separation of Chairman and CEO roles maintained.

• Lead independent director role established, with defined responsibilities.

• Board committees: Audit, Compensation, Nominating/Governance, ESG, and Executive, each with defined charters and responsibilities.

• Stock ownership guidelines in place for directors and executives; anti-hedging and clawback policies adopted.

• Board and committee meetings held regularly, with high attendance.