Hormel Foods shareholders approve 2026 equity plan; board adopts executive severance plan

HORMEL FOODS CORP /DE/

Stockholders approved 2026 Equity and Incentive Compensation Plan: 18M new shares plus 3.95M carryover from 2018 plan.
Executive Severance Plan effective Jan 31, 2026: CEO severance factor 2.0, other participants 1.0.
All 12 director nominees elected with >93% support; Ernst & Young LLP ratified for FY2026.
Advisory say-on-pay approved with 94.6% of votes cast; 2026 plan approved with 87.2%.
Named executive officers Ettinger and Ghingo excluded from severance plan due to existing employment agreements.

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