The J. M. Smucker Company (SJM) Proxy filing summary

Executive summary

• Annual Meeting scheduled for August 12, 2026, to be held virtually, with shareholders of record as of June 15, 2026, eligible to vote.

• Fiscal 2026 net sales reached $9.1 billion (up 4%), adjusted EPS was $9.15 (down 10%), and free cash flow was $1.2 billion (up $339.6 million).

• $464.7 million was returned to shareholders via dividends in fiscal 2026.

• Strategic focus for fiscal 2027 includes driving organic growth, improving margins and profitability, and fostering an enterprise mindset.

Voting matters and shareholder proposals

• Shareholders will vote on: election of 11 directors, ratification of Ernst & Young LLP as auditor for FY2027, and advisory approval of executive compensation.

• Board recommends voting FOR all proposals.

• Proxy access allows groups of up to 20 shareholders owning at least 3% for three years to nominate directors.

Board of directors and corporate governance

• Board consists of 11 directors, 10 of whom are independent; 4 are women and 3 are racially/ethnically diverse.

• Five new directors have joined since 2022, with ongoing refreshment and rotation of committee chairs.

• Lead Independent Director coordinates independent director activities; regular executive sessions are held.

• Board committees: Audit, Compensation, and Nominating, all comprised of independent directors.

• Board succession planning and director education are emphasized.