Mattel (MAT) Proxy filing summary

Executive summary

• Celebrated 80th anniversary in 2025, maintaining focus on innovation, entertainment, and empowering children through play.

• 2025 saw stable gross billings, 1% net sales decline, and strong international growth offsetting North America.

• Achieved $89 million in annual cost savings, with cumulative $172 million since 2024, and raised the three-year savings target to $225 million by end of 2026.

• Ended 2025 with $1.2 billion in cash, repurchased $600 million in shares, and launched new brands and partnerships.

• Strategic priorities include growing toy brands, expanding content, scaling digital play, and leveraging AI.

Voting matters and shareholder proposals

• Proposal 1: Election of ten director nominees.

• Proposal 2: Ratification of PricewaterhouseCoopers LLP as independent auditor for 2026.

• Proposal 3: Advisory vote to approve executive compensation.

• Proposal 4: Approval of amended and restated 2010 Equity and Long-Term Compensation Plan.

• Board recommends voting FOR all proposals.

Board of directors and corporate governance

• Board comprises ten nominees, 90% independent, average tenure 7.4 years, 50% women, 30% racially/ethnically diverse.

• Annual elections, majority voting, robust lead director role, and strong stockholder rights.

• Active director refreshment, succession planning, and annual board/committee evaluations.

• Committees: Audit, Compensation, Governance and Social Responsibility, Finance, Executive, Stock Grant.