Pilgrim's Pride (PPC) Proxy Filing summary

Executive summary

• Achieved net sales of $17.9 billion, net income of $1.1 billion, and GAAP EPS of $4.57 for 2024, with adjusted EBITDA of $2.2 billion (12.4% margin).

• U.S. operations saw growth in QSRs, Retail, and Deli, with Prepared Foods net sales up nearly 12% and digital sales up 30% over 2023.

• European segment integrated legacy businesses, improved productivity, and launched over 700 new items.

• Mexico segment achieved double-digit sales growth to key customers and expanded production capabilities.

• Sustainability efforts reduced Scope 1 & 2 emissions intensity, advanced renewable natural gas, and invested $15 million in local community projects.

Voting matters and shareholder proposals

• Election of eight JBS Directors and two Equity Directors for one-year terms.

• Advisory vote on executive compensation (Say-on-Pay).

• Ratification of KPMG LLP as independent auditor for 2025.

• Approval of Amended and Restated 2019 Long Term Incentive Plan, increasing share reserve by 2.5 million and capping non-employee director compensation.

Board of directors and corporate governance

• Board consists of 10 members: 8 JBS Directors and 2 Equity Directors, with defined nomination processes.

• Board leadership is separated between Chairman and CEO roles.

• Board committees include Audit, Compensation, JBS Nominating, Equity Nominating, and Sustainability.

• Majority of directors are independent per Nasdaq rules.

• Board held 8 meetings and committees held 15 meetings in 2024; all directors attended at least 75% of meetings.