UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 14A
Proxy Statement Pursuant to Section 14(a) of the Securities Exchange Act of 1934
(Amendment No. )
Filed by the Registrant (x)
Filed by a Party other than the Registrant ( )
Check the appropriate box:
[ ] Preliminary Proxy Statement
[ ] Confidential, for use of the Commission Only (as permitted by
Rule 14a-6(e)(2))
[x][x ] Definitive Proxy Statement
[ ] Definitive Additional Materials
[ ] Soliciting Material Pursuant to Rule 14a-12
PUBLIX SUPER MARKETS, INC.
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(Name of Registrant as Specified in its Charter)
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(Name of Person(s) Filing Proxy Statement, if other than the Registrant)
Payment of Filing Fee (Check the appropriate box):
[x][x ] No fee required.
[ ] Fee computed on table below per Exchange Act Rules 14a-6(i)(1) and 0-11.
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pursuant to Exchange Act Rule 0-11 (set forth the amount on which
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[ ] Fee paid previously with preliminary materials.
[ ] Check box if any part of the fee is offset as provided by Exchange
Act Rule 0-11(a)(2) and identify the filing for which the offsetting
fee was paid previously. Identify the previous filing by registration
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PUBLIX SUPER MARKETS, INC.
Corporate Office Mailing Address
3300 Publix Corporate Parkway P.O. Box 407
Lakeland, Florida 33811 Lakeland, Florida 33802
2005 Notice of Annual Meeting of Stockholders
to be held on April 12, 20052006 NOTICE OF ANNUAL MEETING OF STOCKHOLDERS TO BE HELD ON APRIL 18, 2006
To Our Stockholders:
Notice is hereby given that the Annual Meeting of Stockholders of Publix Super
Markets, Inc., a Florida corporation (the "Company"), will be held at the
corporate office of the Company, 3300 Publix Corporate Parkway, Lakeland,
Florida, on Tuesday, April 12, 2005,18, 2006, at 9:30 a.m. for the following purposes:
1. To elect a Board of Directors;Directors as described on page 1;
2. To approve an amendment to the Restated Articles of Incorporation to
increase the authorized number of shares of the Company's common stock from
300,000,000 to 1,000,000,000, to allow for a 5-for-1 stock split as
described on page 14;
3. To transact such other business as may properly come before the meeting or
any adjournments thereof.
Accompanying the Notice of Annual Meeting of Stockholders is a Proxy Statement
and a proxy card. Whether or not you plan to attend this meeting, please vote
your shares by completing, signing, dating and promptly mailing the enclosed
proxy card in the envelope provided.
By order of the Board of Directors,
/s/ John A. Attaway, Jr.
- -------------------------------------------------
John A. Attaway, Jr.
Secretary
Lakeland, Florida
March 2, 20051, 2006
20052006 PROXY STATEMENT
GENERAL INFORMATION
This Proxy Statement is being mailed on or about March 11, 2005,16, 2006, to the
stockholders of Publix Super Markets, Inc. (the "Company") in connection with
the solicitation of proxies by the Board of Directors of the Company for use at
the Annual Meeting of Stockholders to be held on April 12, 2005,18, 2006, or any
adjournments thereof. The cost of the enclosed proxy is borne by the Company.
VOTING SECURITIES OUTSTANDING
As of February 2, 2005,9, 2006, there were 172,233,759168,734,156 shares of common stock of
the Company outstanding. Each share is entitled to one vote.
Only stockholders of record as of the close of business on February 2,
2005,9,
2006, will be entitled to vote at the Annual Meeting of Stockholders.
VOTING PROCEDURES
A stockholder giving the enclosed proxy has the power to revoke it at any
time before it is exercised by filing a written notice of such revocation or a
duly executed proxy bearing a later date with the Secretary of the Company at
the corporate office of the Company, 3300 Publix Corporate Parkway, Lakeland,
Florida 33811, or by mailing it to the Company at P.O. Box 407, Lakeland,
Florida 33802-0407. The execution of the enclosed proxy will not affect a
stockholder's right to vote in person at the meeting should the stockholder
later find it convenient to attend the meeting and desire to vote in person.
The proxy cards will be tabulated by employees of the Company. A
stockholder attending in person or by proxy will be counted as part of the
quorum for the meeting, even if that person abstains or otherwise does not vote
on any matter. A majority of the outstanding shares of the Company entitled to
vote, represented in person or by proxy, shall constitute a quorum. The
affirmative vote of a plurality of the votes cast is required for the election
of directors. A properly executed proxy marked "WITHHOLD VOTES" for the election
of all nominees for director or a particular nominee or nominees for director
will not be voted for the director nominee or nominees indicated. A proxy marked
"WITHHOLD VOTES" will be counted for purposes of determining whether there is a
quorum. AnyThe amendment to increase the number of the Company's authorized shares
of common stock to allow for a 5-for-1 stock split and any other matter
submitted to a vote of the stockholders will be approved if the votes cast in
favor of the matter are greater than the votes cast in opposition to the matter.
ELECTION OF DIRECTORS
The Company's By-Laws specify that the Board of Directors shall not be less
than three nor more than fifteen members. The exact number of directors shall be
fixed by resolution of the then authorized number of directors. The Board of
Directors has fixed the number of directors at ten members. The persons
designated as nominees for election as a director are Carol Jenkins Barnett,
Hoyt R. Barnett, Joan G. Buccino, William E. Crenshaw, Sherrill W. Hudson,
Charles H. Jenkins, Jr., Howard M. Jenkins, E. Vane McClurg, Kelly E. Norton and
Maria A. Sastre. All nominees except Ms. Sastre are currently directors of the Company. Mark C. Hollis is not standing for re-election to the Board of
Directors. The Company's Corporate Governance Guidelines include a general
policy that directors will not stand for re-election after reaching age 70. Management
of the Company recommends a vote FOR all the nominees. The proxies will be voted
FOR the election of the ten nominees unless the stockholder specifies otherwise.
The term of office of the directors will be until the next annual meeting
or until their successors shall be elected and qualified. If one or more of the
nominees become unable or unwilling to serve at the time of the meeting, the
shares represented by proxy will be voted for the remaining nominees and for any
substitute nominee(s) designated by the Board of Directors or, if none, the size
of the Board will be reduced accordingly. The Board of Directors does not
anticipate that any nominee will be unavailableunable or unableunwilling to serve.
1
INFORMATION ABOUT NOMINEES FOR DIRECTOR
The following information set forth for each of the nominees for election
to the Board of Directors includes such person's principal occupation presently
and during the last five years, other information, period of service as director
of the Company and age.
Carol Carol Jenkins Barnett
Jenkins Chairman of the Board and President of Publix Super Markets
Barnett Charities, Inc.
(Photo) Director since 1983. Age 48.49.
Hoyt R. Hoyt R. Barnett
Barnett Vice Chairman of the Company and Trustee of the Employee
(Photo) Stock
(Photo) Ownership Plan.
Director since 1985. Age 61.62.
Joan G. Joan G. Buccino
Buccino Professor of Economics since 1991 for Florida Southern
(Photo) College
(Photo) (Lakeland, Florida). Previously, Chair of the Social
Science Division from August 1997 to August 2003. Served as
Vice President and Interim Dean of the College during 2001.
Also has held the Dorotha C. Tanner Chair in Ethics in
Business and Economics since 1994.
Director since 2002. Age 67.68.
William E. William E. Crenshaw
Crenshaw President of the Company.
(Photo) Director since 1990. Age 54.
Sherrill55.
Sherrill W. Sherrill W. Hudson
W.
Hudson Chairman of the Board and Chief Executive Officer of TECO
(Photo) Energy,
(Photo) Inc. since July 2004. Previously, Managing Partner,
Deloitte & Touche LLP, a firm of certified public
accountants, Miami, Florida from 1983 until retiring in
August 2002. He servesServes on the Audit Committee as the Audit
Committee financial expert. In
addition to servingCurrently serves as a Director
of TECO Energy, Inc., he also
currently serves as a Director of and The Standard Register Company.
Director since 2003. Age 62.63.
2
INFORMATION ABOUT NOMINEES FOR DIRECTOR (Continued)
Charles H. Charles H. Jenkins, Jr.
Jenkins, Jr. Chief Executive Officer of the Company since May 2001.
(Photo) Previously, Chairman of the Executive Committee to June 2000,
Chairman of the Executive Committee and Chief
Operating Officer to May 2001.
Director since 1974. Age 61.62.
Howard M. Howard M. Jenkins
Jenkins Chairman of the Board of the Company since May 2001.
(Photo) Previously,
(Photo) Chairman of the Board and Chief Executive
Officer.
Director since 1977. Age 53.
E. Vane54.
E.Vane E. Vane McClurg
McClurg Attorney-at-law, law firm of Hahn McClurg, P. A. since
(Photo) January 2006. Previously, Attorney-at-law, law firm of Hahn,
McClurg, Watson, Griffith &
(Photo) Bush.
Director since 1988. Age 63.64.
Kelly E. Kelly E. Norton
Norton Independent business advisor and consultant. Previously,
(Photo) President and Chief Executive Officer of Florida Tile
Industries, Inc. (formerly Sikes Corporation) from 1982 to
1994. Also served as a Director of Florida Tile Industries,
Inc. from 1980 to 1990.
Director since 2001. Age 66.67.
Maria A. Maria A. Sastre
Sastre Vice President, International - Latin America and Asia, Sales
(Photo) and
(Photo) Marketing for Royal Caribbean International and Celebrity
Cruises, a unit of Royal Caribbean Cruises, Ltd., since
January 2005. Previously, Vice President, Total Guest
Satisfaction Services and Vice President, Fleet Operations -
Hotel for Royal Caribbean International from April 2000 to
December 2004. Ms.
Sastre heldHeld various positions with United Airlines,
Inc. from 1992 to 1999. She was recommended by a non-management Director as
a nominee for Director of the Company in 2005. She also currentlyCurrently serves as a Director of
Darden Restaurants, Inc. and Laidlaw International, Inc.
Director since 2005. Age 49.50.
Carol Jenkins Barnett and Howard M. Jenkins are siblings. Hoyt R. Barnett is the
husband of Carol Jenkins Barnett and brother-in-law of Howard M. Jenkins.
William E. Crenshaw is the nephew of Carol Jenkins Barnett and Howard M.
Jenkins. Charles H. Jenkins, Jr. is the cousin of Carol Jenkins Barnett, Howard
M. Jenkins and William E. Crenshaw.
3
INFORMATION CONCERNING THE BOARD OF DIRECTORS AND ITS COMMITTEES
MEETINGS
The Board of Directors held four meetings during 2004.2005. All directors
attended 100%all meetings of the Company's Board of Directors meetings held in 2004.2005, except
one director who missed the Board of Directors meeting held on August 3, 2005.
In addition, directors maintained 100% attendance at all Board Committee
meetings. The Company does not have a specific policy regarding director
attendance at the Annual Meeting of Stockholders,Stockholders; however, all directors
attended the last Annual Meeting of Stockholders on May 11, 2004. During 2004,April 12, 2005. Prior to the
Annual Meeting of Stockholders on April 12, 2005, the Board of Directors
consisted of Carol Jenkins Barnett, Hoyt R. Barnett, Joan G. Buccino, William E.
Crenshaw, Mark C. Hollis, Sherrill W. Hudson, Charles H. Jenkins, Jr., Howard M.
Jenkins, Chairman, E. Vane McClurg and Kelly E. Norton. Subsequent to the Annual
Meeting of Stockholders on April 12, 2005, the Board of Directors consisted of
Carol Jenkins Barnett, Hoyt R. Barnett, Joan G. Buccino, William E. Crenshaw,
Sherrill W. Hudson, Charles H. Jenkins, Jr., Howard M. Jenkins, Chairman, E.
Vane McClurg, Kelly E. Norton and Maria A. Sastre. The Board of Directors has
determined that Joan G. Buccino, Sherrill W. Hudson, and Kelly E. Norton and Maria
A. Sastre are independent as defined by the rules of the New York Stock
Exchange.
COMMITTEES
The Board of Directors had the following committees during 2004,2005, each of
which is described below: Executive, Compensation, Audit, Corporate Governance
and Nominating.
The Executive Committee's primary responsibility is to act on behalf of the
Board of Directors between meetings of the Board. During 2004,2005, the Executive
Committee held six meetings and consisted of Hoyt R. Barnett, William E.
Crenshaw, Charles H. Jenkins, Jr., Chairman and Howard M. Jenkins.
The Compensation Committee has responsibility for reviewing and setting the
salary and benefits structure of the Company with respect to its executive
officers. The Compensation Committee operates under a written charter. During
2004,2005, the Compensation Committee held threefive meetings and consisted of Joan G.
Buccino, Sherrill W. Hudson and Kelly E. Norton, Chairman, all of whom are
independent as defined by the rules of the New York Stock Exchange.
The Audit Committee has responsibility to the Board of Directors for
assessing the processes related to the Company's risk and control environment,
overseeing the financial reporting and evaluating the internal and independent
audit processes. The Audit Committee operates under a written charter, a copy of
which was attached as an appendix to the 2004 Proxy Statement. During 2004,2005, the
Audit Committee held five meetings and consisted of Joan G. Buccino, Sherrill W.
Hudson, Chairman and Kelly E. Norton, all of whom are independent as defined by
Rule 10A-3 of the Securities Exchange Act of 1934 and the rules of the New York
Stock Exchange. Mr. Hudson serves as the Audit Committee financial expert.
The Corporate Governance Committee has responsibility for reviewing and
reporting to the Board of Directors on matters of corporate governance such as
practices, policies and procedures affecting directors and the Board's
operations and effectiveness. The Corporate Governance Committee operates under
a written charter. During 2004,2005, the Corporate Governance Committee held sixfive
meetings. Prior to the annual Organizational Board of Directors meeting on May
18, 2005, the Corporate Governance Committee held three meetings and consisted
of Joan G. Buccino, Sherrill W. Hudson, E. Vane McClurg, Chairman, and Kelly E. Norton aand Sherrill W.
Hudson. Subsequent to the annual Organizational Board of Directors meeting on
May 18, 2005, the Corporate Governance Committee held two meetings and consisted
of Joan G. Buccino, E. Vane McClurg, Chairman, Kelly E. Norton and Maria A.
Sastre. A majority of whomthe Corporate Governance Committee members serving during
the year are independent as defined by the rules of the New York Stock Exchange
and all of whom are outside directors as defined by the Company's Corporate Governance
Guidelines.
The Nominating Committee has responsibility for reviewing and reporting to
the Board of Directors on matters of Board nominations. This includes reviewing
potential candidates and proposing nominees to the Board of Directors. The
Nominating Committee operates under a written charter, a copy of which was
attached as an appendix to the 2004 Proxy Statement. During 2004,2005, the Nominating
Committee held threeone meeting. There were no meetings of the Nominating Committee
in 2005 prior to the annual Organizational Board of Directors meeting on May 18,
2005. Subsequent to the annual Organizational Board of Directors meeting on May
18, 2005, the Nominating Committee
4
INFORMATION CONCERNING THE BOARD OF DIRECTORS AND ITS COMMITTEES
(Continued)
held one meeting and consisted of Hoyt R. Barnett, Chairman, Mark
C. Hollis, Howard M. Jenkins
and E. Vane McClurg. The Nominating Committee members are not independent as
defined by the rules of the New York Stock Exchange. In the opinion of the
Board, each Nominating Committee member has the ability to make objective
decisions independent of the interests of management.
4
INFORMATION CONCERNING THE BOARD OF DIRECTORS AND ITS COMMITTEES (Continued)
The Company has no specific policy regarding the consideration of any
director candidates recommended by stockholders. However, the Nominating
Committee considers suggestions for director candidates from several sources,
including stockholders. In general, candidates must meet minimum qualifications
for directors as set forth in the Company's Corporate Governance Guidelines. The
candidates also must have any additional qualifications identified by the
Nominating Committee as may be currently required to maintain the appropriate
balance of knowledge, experience and expertise on the Board of Directors.
Candidate suggestions, together with appropriate biographical information,
should be sent to the Chairman of the Nominating Committee, c/o Secretary,
Publix Super Markets, Inc., P.O. Box 407, Lakeland, Florida, 33802-0407.
In evaluating candidates for the Board of Directors, the Nominating
Committee considers that it is the Board of Directors' objective to maintain a
balance of business experience in order to maximize the effectiveness of the
Board of Directors. The Nominating Committee also considers the specific skills
necessary for candidates to effectively participate on certain Board committees.
The candidates should possess the highest personal and professional ethics,
integrity and values, and be committed to representing the long-term interests
of the stockholders. In addition, selection criteria may include, but not
necessarily be limited to:
o No conflict of interest;
o Willingness to devote adequate time and effort to Board
responsibilities;
o Ability to work with current Board of Directors;
o Ability to assess corporate strategy;
o Willingness to provide management oversight;
o Broad business experience, judgment and leadership;
o Significant years of management experience in a senior policy-making
position;
o Knowledge of the supermarket business or other retail business; and
o Knowledge of business trends, including, but not limited to, relevant
regulatory affairs.
COMMUNICATION WITH DIRECTORS
Any stockholder or other party interested in communicating with the Board
of Directors, either as a group or with an individual member of the Board of
Directors, may do so by writing c/o Secretary, Publix Super Markets, Inc., P.O.
Box 407, Lakeland, Florida, 33802-0407. All communications to the Board of
Directors or a specified individual director will be provided to the Board of
Directors or the specified individual director at the next Board meeting
following receipt of the communication. However, if the Secretary determines the
nature of the communication requires the immediate attention of the Board of
Directors or the specified individual director, the communication will be
provided as soon as reasonably possible.
COMPENSATION OF DIRECTORS
Non-employeeDuring the first and second quarter of 2005, non-employee directors
receivereceived a quarterly retainer of $10,000 for serving on the Board of Directors. Beginning in 2003,Directors
and members of the Audit Committee also received an additionala quarterly retainer of $2,500 for
serving on the Audit Committee. Beginning in the third quarter of 2005,
non-employee directors receive a quarterly retainer of $10,500 for serving on
the Board of Directors, members of the Audit Committee receive a quarterly
retainer of $2,500 for serving on the Audit Committee and members of the
Corporate Governance Committee receive a quarterly retainer of $1,250 for
serving on the Corporate Governance Committee. The Company has a Non-Employee
Directors Stock Purchase Plan for the benefit of eligible directors. Under the
plan, non-employee directors may purchase shares of the Company's common stock
at the current fair market value during specific time periods directly from the
Company. The provisions of this plan are generally the same as the provisions of
the Employee Stock Purchase Plan.
5
BENEFICIAL OWNERSHIP OF SECURITIES
The following table sets forth certain information about the shares of the
Company's common stock beneficially owned as of the close of business on
February 2, 2005,9, 2006, by each of the Company's nominees for director, each executive
officer named in the Summary Compensation Table and all directors and executive
officers as a group. Additionally, the table includes the persons (including any
group deemed a "person" under Rule 13d-3 of the Securities Exchange Act of 1934
(the "Act")) known by the Company to be a beneficial owner of more than 5% of
the Company's outstanding common stock.
Number of Sharesshares
of Common
Stock Beneficiallycommon stock Percent
beneficially owned as of of
Name of Beneficial Owner Owned as ofbeneficial owner February 2, 20059, 2006 (1) of Classclass
- ------------------------------------------------------------------------------------------------------------------------------------------------------------
Carol Jenkins Barnett 9,883,4049,800,907 (2) 5.745.81
Hoyt R. Barnett 53,748,6041,266,190 (3) 31.21*
Joan G. Buccino 2,190 *
William E. Crenshaw 570,9632,191,410 (4) *1.30
Sherrill W. Hudson 1,5002,500 (5) *
Charles H. Jenkins, Jr. 1,559,0152,161,334 (6) *1.28
Howard M. Jenkins 6,473,2514,858,886 (7) 3.762.88
E. Vane McClurg 1,125,6441,124,744 (8) *
Kelly E. Norton 2,825 *
Maria A. Sastre - -
James J. Lobinsky 67,588 (9)302 *
David P. Phillips 47,21449,450 (9) *
Daniel M. Risener 62,586 (10) *
Employee Stock Ownership Plan 52,511,266 30.4952,060,694 (11) 30.85
401(k) Plan 8,631,089 (12) 5.12
All directors and executive officers
as a group (36) 73,900,541 (11) 42.91
SunTrust Bank 9,898,809 (12) 5.75
Nancy E. Jenkins 9,549,509(38) 21,147,597 (13) 5.5412.53
* Shares represent less than 1% of common stock. Note references are
explained on pages 7 and 8.
6
(1) As used in the table on the preceding page, "beneficial ownership" means
the sole or shared voting or investment power with respect to the Company's
common stock. Unless otherwise indicated, the individual has sole voting
and investment power with respect to the shares shown as beneficially
owned. For participants in the Company's Employee Stock Ownership Plan (the
"ESOP"), holdings include shares allocated to their individual ESOP
accounts, over which each participant exercises sole voting power and
shared investment power. In accordance with the beneficial ownership
regulations, the same shares of common stock may be included as
beneficially owned by more than one individual or entity. The address for
all beneficial owners except SunTrust Bank is 3300 Publix Corporate Parkway, Lakeland, Florida
33811 with a mailing address of P.O. Box 407, Lakeland, Florida 33802-0407.
The address for SunTrust Bank is 303
Peachtree Street, Suite 1500, Atlanta, Georgia 30308.
(2) Carol Jenkins Barnett has sole voting and investment power over 8,682,485
shares of common stock which are held directly and sole voting and
investment power over 3,022 shares of common stock which are held
indirectly and shared voting and
investment power over 9,880,382 shares of common stock pursuant to Rule
13d-3(d)(1) under the Act which are held indirectly in trusts.indirectly. Total shares beneficially owned include 1,135,5171,115,400 shares of
common stock also shown as beneficially owned by her husband, Hoyt R.
Barnett, but exclude all other shares beneficially owned by Hoyt R.
Barnett, as to which Carol Jenkins Barnett disclaims beneficial ownership.
Total shares beneficially owned
also include 8,744,865 shares of common stock also shown as beneficially
owned by SunTrust Bank who(3) Hoyt R. Barnett has sole voting and investment power under the
terms of a trust.
(3) Hoyt R. Barnett is Trustee of the ESOP which is the record owner of
52,511,266over 101,821 shares of
common stock over which he has shared investment
power. As Trustee, Hoyt R. Barnett exercisesare held directly and sole voting power over
1,154,989 shares of common stock in the ESOP because such shares have not
been allocated to participants' accounts. For ESOP shares allocated to
participants' accounts, Hoyt R. Barnett will vote the shares as instructed
by participants. Additionally, Hoyt R. Barnett will vote the ESOP shares
for which no instruction is received. Hoyt R. Barnett has shared voting and investment power
over 1,237,338 shares48,969 share of common stock pursuant to Rule
13d-3(d)(1) under the Act which are held indirectly in trusts.indirectly. Total shares
beneficially owned include 1,135,5171,115,400 shares of common stock also shown as
beneficially owned by his wife, Carol Jenkins Barnett, but exclude all
other shares beneficially owned by Carol Jenkins Barnett, as to which Hoyt
R. Barnett disclaims beneficial ownership. Total shares beneficially owned
by Hoyt R. Barnett exclude 52,060,694 shares of common stock owned by the
ESOP, as to which Hoyt R. Barnett disclaims beneficial ownership as Trustee
of the ESOP.
(4) William E. Crenshaw has sole voting and investment power over 529,886518,781
shares of common stock which are held directly, sole voting and investment
power over 1,631,210 shares of common stock which are held indirectly, sole
voting and shared investment power over 32,22132,563 shares of common stock which
are held indirectly and shared voting and investment power over 8,856
shares of common stock.stock which are held indirectly.
(5) Sherrill W. Hudson has sole voting and investment power over 500 shares of
common stock which are held directly and shared voting and investment power
over 1,0002,000 shares of common stock.stock which are held directly.
(6) Charles H. Jenkins, Jr. has sole voting and investment power over 1,111,3401,167,814
shares of common stock which are held directly, sole voting and investment
power over 545,321 shares of common stock which are held indirectly, sole
voting and shared investment power over 63,05463,407 shares of common stock which
are held indirectly, shared voting and investment power over 596 shares of
common stock which are held directly and shared voting and investment power
over 384,196 shares of common stock which are held indirectly.
(7) Howard M. Jenkins has sole voting and investment power over 664,130 shares
of common stock which are held directly, sole voting and investment power
over 162,713 shares of common stock which are held indirectly, sole voting
and shared investment power over 38,027 shares of common stock which are
held indirectly and shared voting and investment power over 384,621 shares of
common stock.
(7) Howard M. Jenkins has sole voting and investment power over 664,740 shares
of common stock which are held directly, sole voting and investment power
over 162,103 shares of common stock which are held indirectly in trusts,
sole voting and shared investment power over 38,018 shares of common stock
which are held indirectly, and shared voting and investment power over
5,608,3903,994,016
shares of common stock which are held indirectly. Total shares beneficially
owned by Howard M. Jenkins exclude 1,614,374 shares of common stock owned
by a limited partnership, as to which Howard M. Jenkins disclaims
beneficial ownership as a limited partner.
(8) E. Vane McClurg has sole voting and investment power over 1,099,744 shares
of common stock which are held directly, sole voting and investment power
over 15,000 shares of common stock which are held indirectly and shared
voting and investment power over 1,110,644 shares of common stock pursuant to Rule 13d-3(d)(1)
under the Act which are held indirectly in a trust. Total shares
beneficially owned by E. Vane McClurg exclude 10,000 shares of common stock owned by his wife, as to which E. Vane McClurg disclaims beneficial
ownership.are
held indirectly.
7
(9) James J. LobinskyDavid P. Phillips has sole voting and investment power over 10025,620 shares
of common stock which are held directly, sole voting and investment power
over 5,705 shares of common stock which are held indirectly, sole voting
and shared investment power over 11,125 shares of common stock which are
held indirectly and shared voting and investment power over 7,000 shares of
common stock which are held directly.
(10) Daniel M. Risener has sole voting and investment power over 1,300 shares of
common stock which are held directly, sole voting and shared investment
power over 47,33846,354 shares of common stock which are held indirectly, and
shared
voting and investment power over 20,150 shares of common stock.
(10) David P. Phillips has sole voting and investment power over 27,0202,500 shares of common stock which are
held directly soleand shared voting and investment power over 3,40512,432 shares of
common stock which are held indirectly,indirectly.
(11) Hoyt R. Barnett is Trustee of the ESOP which is the record owner of
52,060,694 shares of common stock over which he has shared investment
power. The Trustee exercises sole voting power over 1,190,204 shares of
common stock in the ESOP because such shares have not been allocated to
participants' accounts. For ESOP shares allocated to participants'
accounts, the Trustee will vote the shares as instructed by participants.
Additionally, the Trustee will vote the ESOP shares for which no
instruction is received.
(12) Tina P. Johnson is Trustee of the Company's common stock held in the 401(k)
Plan which is the record owner of 8,631,089 shares of common stock over
which she has sole voting and shared investment power over 10,789 shares of common stock which are
held indirectly, and shared voting and investment power over 6,000 shares
of common stock.
(11) Includes 52,511,266 shares of common stock (30.49%) in the ESOP over which
Hoyt R. Barnett is Trustee as described in note (3).power.
(13) As a group, the directors and executive officers have shared voting andand/or
shared investment power over 18,597,2566,230,373 shares of common stock.
(12) SunTrust Bank has sole voting and investment power over 9,867,964 shares of
common stock which are held in trusts and shared voting and investment
power over 30,845 shares of common stock which are held in trusts. Shares
beneficially owned with sole voting and investment power include 8,744,865
shares of common stock also shown as beneficially owned by Carol Jenkins
Barnett who has shared voting and investment power pursuant to Rule
13d-3(d)(1) under the Act.
(13) Nancy E. Jenkins has sole voting and investment power over 9,427,558 shares
of common stock which are held indirectly and shared voting and investment
power over 121,951 shares of common stock which are held indirectly. She is
the sister of Howard M. Jenkins and Carol Jenkins Barnett, aunt of William
E. Crenshaw, cousin of Charles H. Jenkins, Jr. and sister-in-law of Hoyt R.
Barnett.
SECTION 16(a) BENEFICIAL OWNERSHIP REPORTING COMPLIANCE
Under Section 16 of the Securities Exchange Act of 1934, certain officers,
directors and stockholders of the Company are required to file reports of stock
ownership and changes therein with the Securities and Exchange Commission. The
Company believes that its officers, directors and stockholders complied with the
Section 16 filing requirements.requirements except as follows. Reports filed by the following
persons did not reflect their direct or indirect beneficial ownership of certain
shares or changes therein: David E. Bridges (2004 - one Form 4 and one Form 5)
and Maria A. Sastre (2005 - one Form 4). Upon learning of the omissions, Mr.
Bridges and Ms. Sastre promptly filed the necessary reports to reflect the
required information.
CERTAIN RELATIONSHIPS AND RELATED TRANSACTIONS
During 2004,2005, the Company purchased approximately $2,185,000$2,272,000 of food
products from Alma Food Imports, Inc., a company owned by Julia Jenkins
Fancelli, sister of Howard M. Jenkins and Carol Jenkins Barnett, and Nancy E.
Jenkins, aunt of William
E. Crenshaw, cousin of Charles H. Jenkins, Jr. and sister-in-law of Hoyt R.
Barnett.
During 2004,2005, the Company paid approximately $352,000$205,000 to the law firm of
Hahn, McClurg, Watson, Griffith & Bush for legal services. E. Vane McClurg is a
director and continues to provide legal services to the Company.
In the opinion of management, the terms of the foregoing transactions are
no less favorable than terms that could have been obtained from unaffiliated
parties.
COMPENSATION COMMITTEE INTERLOCKS AND INSIDER PARTICIPATION
Compensation Committee members, who were all directors of the Company
during 2004,2005, include: Joan G. Buccino, Sherrill W. Hudson and Kelly E. Norton,
Chairman. There were no interlocks of the executive officers or directors of the
Company serving on the compensation or equivalent committee of another entity
which has any executive officer or director serving on the Compensation
Committee, other committee or Board of Directors of the Company.
8
COMPENSATION COMMITTEE REPORT ON EXECUTIVE COMPENSATION
The Compensation Committee has responsibility for reviewing and setting the
salary and benefits structure of the Company with respect to its executive
officers. The compensation for the named executive officers, including the Chief
Executive Officer (CEO), includes a base salary and an incentive bonus.
The factors considered in determining the base salary include: (1) the
overall level of responsibility and the relationship to compensation levels of
the Company's management, (2) the compensation levels of supermarket chains in
the Company's Peer Group Index, taking into account the size and financial
performance of the Company, (3) anticipated competitive operating conditions and
(4) overall economic conditions. Charles H. Jenkins, Jr.'s annual base salary
was increased by approximately 10.6%13.5% to $537,550.$609,930. This increase was heavily
influenced by factor (2) above, the compensation levels of supermarket chains in
the Company's Peer Group Index, taking into account the size and financial
performance of the Company. The most recently available base salaries of the
CEOs in the Company's Peer Group Index range from $560,000 to $1,300,000.$1,405,000. The
lowest CEO base salary is for a supermarket chain with approximately $2 billion
in sales. The financial performance of the Company has been significantly better
than the performance of the supermarket chains in the Company's Peer Group
Index.
Bonuses are paid generally once per year in the year following the year
earned. The incentive bonus plan covers approximately 375390 management employees.
The Company's incentive bonus plan is based on a target bonus equal to two
months pay for all full incentive bonus participants (participants generally
transition in to the incentive bonus over a two year period). The formula for
the incentive bonus plan is based on the Company achieving its sales and profit
goals for the fiscal year and thus paying the target bonus. The incentive bonus
would be more or less than the target bonus based on the Company's actual
results compared to its sales and profit goals. There is no incentive bonus
unless greater than 80% of the target profit is achieved. In general, the bonus
pool is allocated among the participating management employees, including the
named executive officers, according to their relative base compensation amounts
paid to them during the calendar year for which the incentive bonus is being
paid. The bonuses compensate the management employees for their services during
the calendar year and an employee must be employed at the end of the calendar
year to participate in the bonus. Although the Company has a defined method for
calculating the incentive bonus, the Company's Executive Committee retains the
right to alter or discontinue the incentive bonus plan at its discretion at any
time for all or any participating employees except for the Company's executive
officers. Any changes to the incentive bonus plan for all or any of the
executive officers are at the discretion of the Compensation Committee. For
fiscal 2004,2005, based on the application of the parameters of the incentive bonus
plan, the Compensation Committee awarded Charles H. Jenkins, Jr. the bonus of
$176,381$182,966 as set forth in the following Summary Compensation Table.
The compensation earned by the executive officers named in the following
Summary Compensation Table ranks at or near the bottom of compensation earned by
comparable positions among the peer group supermarket chains in the Company's
Peer Group Index included in the performance graphs on pages 13 and 14.
This report is submitted by the following members of the Compensation
Committee at the end of 2004:2005: Joan G. Buccino, Sherrill W. Hudson, and Kelly E.
Norton, Chairman.
9
EXECUTIVE COMPENSATION
The following table summarizes the compensation earned by the Company's CEO
and the Company's four most highly compensated executive officers other than the
CEO who were serving as executive officers at the end of 20042005 and for services
rendered in all capacities to the Company during the years ended 2005, 2004 2003 and
2002:2003:
SUMMARY COMPENSATION TABLE
Long-Term Compensation
----------------------------------
Annual Compensation Awards Payouts
-------------------------------------------------- ---------------------- -------
Other
Annual Restricted All Other
Name and Principal Position Compen- Stock Options/ LTIP Compen-
( ) Years of Service Year Salary Bonus (1) Total sation Award SARs (#) Payouts sation (2)
- ------------------------------------------------------------------------------------------------------------------------------------
Charles H. Jenkins,H.Jenkins, Jr. (35) 2004 $537,550 $176,381 $713,931 - - - - $22,132(36) 2005 $609,930 $182,966 $792,896 -- -- -- -- $26,206
Chief Executive Officer 2004 537,550 176,381 713,931 -- -- -- -- 22,132
and Director 2003 485,825 58,242 544,067 - - - --- -- -- -- 19,985
William E.Crenshaw (31) 2005 $510,125 $153,027 $663,152 -- -- -- -- $26,206
President and Director 2002 447,000 94,790 541,790 - - - - 21,041
William E. Crenshaw (30) 2004 $443,000 $145,357 $588,357 - - - - $22,132
President and Director443,000 145,357 588,357 -- -- -- -- 22,132
2003 405,600 48,624 454,224 - - - --- -- -- -- 19,985
2002 375,800 79,692 455,492 - - - - 21,041
David P. Phillips (20) 2004 $352,000 $115,498 $467,498 - - - - $22,132(21) 2005 $408,100 $122,422 $530,522 -- -- -- -- $26,206
Chief Financial Officer 2004 352,000 115,498 467,498 -- -- -- -- 22,132
and Treasurer 2003 305,000 36,564 341,564 - - - --- -- -- -- 19,985
and Treasurer 2002 254,000 53,863 307,863 - - - - 21,041
Hoyt R. Barnett (36) 2004 $297,750 $ 97,698 $395,448 - - - - $22,132(37) 2005 $309,000 $92,694 $401,694 -- -- -- -- $26,206
Vice Chairman and 2004 297,750 97,698 395,448 -- -- -- -- 22,132
Director 2003 287,625 34,481 322,106 - - - --- -- -- -- 19,985
2002 287,625 60,993 348,618 - - - - 21,041
James J. Lobinsky (48) 2004 $278,000 $ 91,217 $369,217 - - - - $22,132Daniel M. Risener (43) 2005 $289,050 $86,709 $375,759 -- -- -- -- $26,206
Senior Vice President and 2004 261,600 85,836 347,436 -- -- -- -- 22,132
Chief Information Officer 2003 255,180 30,592 285,772 - - - -251,500 30,151 281,651 -- -- -- -- 19,985
2002 240,755 51,054 291,809 - - - - 21,041
(1) Amounts in this column include bonuses earned in the applicable year
but paid in a subsequent year.
(2) Amounts in this column include the Company's contribution to the ESOP
and the 401(k) Plan.
10
OTHER COMPENSATION
The Company has a trusteed, noncontributory defined contribution plan, the
ESOP, for the benefit of eligible employees. The amount of the Company's
discretionary contribution to the ESOP is determined annually by the Board of
Directors and can be made in Company common stock or cash. The Company's
contribution to this plan is allocated to all participants on the basis of
compensation and the plan does not discriminate, in scope, terms, or operation,
in favor of officers orofficers. Non-employee directors of the Company.Company's Board of Directors
do not participate in the plan. Amounts earned for 2005, 2004 2003
and 20022003 under the
plan by the CEO and the four most highly compensated executive officers other
than the CEO are listed in the Summary Compensation Table.
The Company has a 401(k) plan for the benefit of eligible employees. The
401(k) plan is a voluntary defined contribution plan. Eligible employees may
contribute up to 10% of their eligible annual compensation, subject to the
maximum contribution limits established by Federal law. The Company may make a
discretionary annual matching contribution to eligible participants of this plan
as determined by the Board of Directors. During 2005, 2004 2003 and 2002,2003, the Board
of Directors approved a match of 50% of eligible contributions up to 3% of
eligible wages, not to exceed a maximum match of $750 per employee. The match,
which is determined as of the last day of the plan year and paid in the
subsequent year, is in common stock of the Company. The plan does not
discriminate, in scope, terms, or operation, in favor of officers orofficers. Non-employee
directors of the Company.Company's Board of Directors do not participate in the plan.
The match earned for 2005, 2004 2003 and 20022003 under the plan by the CEO and the four
most highly compensated executive officers other than the CEO are listed in the
Summary Compensation Table.
The Company's group health and dental insurance plans are available to
eligible full-time and part-time employees and the group life insurance plan and
long-term disability plan are available to eligible full-time employees. These
plans do not discriminate, in scope, terms, or operation, in favor of officers
orofficers.
Non-employee directors of the Company.Company's Board of Directors do not participate in
the plans.
All compensation paid to executive officers during 2004,2005, other than cash
and compensation pursuant to the plans described above, does not exceed the
minimum amounts required to be reported pursuant to the Securities and Exchange
Commission rules.
AUDIT COMMITTEE REPORT
At the end of 2004,2005, the Audit Committee of the Company's Board of Directors
was comprised of three Board members who were not involved in the current
management of the Company. The Audit Committee members are independent as
defined by the rules of the New York Stock Exchange.
The roles and responsibilities of the Audit Committee are set forth in a
written charter adopted by the Board of Directors. A copy of the charter was
attached as an appendix to the 2004 Proxy Statement. The Audit Committee reviews
and reassesses the charter annually and recommends any changes to the Board of
Directors for approval.
Management is responsible for the Company's internal controls and the
financial reporting process. The Company's independent registered public
accounting firm is responsible for performing an independent audit of the
Company's consolidated financial statements and an audit of the Company's
internal control over financial reporting in accordance with the standards of
the Public Company Accounting Oversight Board (United States). The Audit
Committee monitors and oversees these processes as described in the Audit
Committee charter.
The Audit Committee reviewed and discussed with management and the
Company's independent registered public accounting firm the Company's audited
consolidated financial statements for the fiscal year ended December 25, 2004.31, 2005.
The Audit Committee also discussed with the Company's independent registered
public accounting firm the matters required to be discussed by Statement on
Auditing Standards No. 61, Communication with Audit Committees. The Audit
Committee received the written disclosures and the letter from the Company's independent
registered public accounting firm required by Independence Standards Board
Standard No. 1, Independence Discussions with Audit Committees, and discussed
with the independent registered public accounting firm its independence.
11
Based upon the review and discussions referred to in the preceding
paragraph, the Audit Committee recommended to the Board of Directors that the
audited consolidated financial statements be included in the Company's Annual
Report on Form 10-K for the fiscal year ended December 25, 2004,31, 2005, for filing with
the Securities and Exchange Commission.
This report is submitted by the following members of the Audit Committee at
the end of 2004:2005: Joan G. Buccino, Sherrill W. Hudson, Chairman, and Kelly E.
Norton.
11
RELATIONSHIP WITH INDEPENDENT PUBLIC ACCOUNTANTS
The firm of KPMG LLP was the Company's independent registered public
accounting firm during 2004.2005. The Audit Committee will make its recommendation to
the Board of Directors as to the Company's independent registered public
accounting firm for 20052006 later this year.
Representatives of KPMG LLP will be present at the meeting with an
opportunity to make a statement if they desire to do so and will be available to
respond to appropriate questions.
The fees of the Company's independent registered public accounting firm,
KPMG LLP, for the indicated services performed for the fiscal years ended
December 25, 200431, 2005 and December 27, 2003,25, 2004, were as follows:
2004 2003
---- ----
(Amounts are in thousands)
Audit fees (1) $1,103 336
Audit-related fees (2) 41 23
Tax fees (3) 95 78
All other fees -- --
------ ---
$1,239 437
====== ===
Amounts are in thousands. 2005 2004
------------------------- ---- ----
Audit fees (1)........................ $1,224 1,103
Audit-related fees(2)............... 30 41
Tax fees (3)........................... 22 95
All other fees......................... -- --
------ -----
$1,276 1,239
====== =====
(1) Fees for audit services include fees associated with the annual audit of
the Company's financial statements, annual audit of the Company's internal
control over financial reporting and reviews of the Company's quarterly
financial statements. The increase in audit fees for 2004 was primarily due
to the audit of the internal control over financial reporting as required
by the Sarbanes-Oxley Act of 2002.
(2) Fees for audit-related services primarily include fees associated with the
annual audit of employee benefit plans and other audit services.
(3) Fees for tax services include fees associated with tax compliance, tax
advice and tax planning.
The Audit Committee has reviewed and discussed the fees of KPMG LLP during
the last fiscal year for audit and non-audit services and has determined that
the provision of the non-audit services are compatible with the firm's
independence.
Under its charter and in accordance with the Audit Committee Pre-Approval
Policy, adopted in 2003, the Audit Committee must pre-approve all engagements of the Company's
independent registered public accounting firm. The Audit Committee Pre-Approval
Policy provides that the Audit Committee is required to pre-approve all audit
and non-audit services performed by the independent registered public accounting
firm in order to assure that the provision of such services will not impair its
independence. The Audit Committee has delegated the Chairman of the Audit
Committee the authority to evaluate and approve engagements on behalf of the
Audit Committee in the event that the need for pre-approval arises between Audit
Committee meetings. If the Chairman approves any such engagements, he will
report that approval to the Audit Committee at its next meeting. During 2004,2005,
each new engagement of the independent registered public accounting firm was
approved in accordance with the policy.
12
PERFORMANCE GRAPHS
The following performance graph sets forth the Company's cumulative total
stockholder return during the five years ended December 25, 2004,31, 2005, with the
cumulative total return on the S&P 500 Index and a custom Peer Group Index
including companies in the same line of business (supermarket retail
companies)(1). The Peer Group Index is weighted based on the various companies'
market capitalization. The comparison assumes $100 was invested at the end of
19992000 in the Company's common stock and in each of the related indices and
assumes reinvestment of dividends.
The Company's common stock is valued as of the end of each fiscal quarter.
After the end of a quarter, however, shares continue to be traded at the prior
valuation until the new valuation is received. The cumulative total return for
the companies represented in the S&P 500 Index and the custom Peer Group Index
is based on those companies' calendar year end trading price. Therefore, the
Company has provided a performance graph based on the Company's fiscal year end
valuation (rather than the trading price at fiscal year end, representing the
appraised value as of the prior fiscal quarter). For comparative purposes,
additional information is provided based on the fiscal year end trading price of
the Company's shares.
COMPARISON OF FIVE-YEAR CUMULATIVE RETURN BASED UPON YEAR END VALUATION
1999 2000 2001 2002 2003 2004 ------------------------------------------------------------------2005
---- ---- ---- ---- ---- ----
PUBLIXPublix $100.00 107.86 92.26 87.28 118.00 147.9085.53 80.92 109.40 137.12 174.29
S&P 500 100.00 90.90 81.58 62.53 79.71 89.54
PEER GROUP89.76 68.80 87.69 98.51 103.50
Peer Group 100.00 128.49 104.72 66.28 75.14 77.2681.50 51.58 58.48 60.13 61.61
Note reference is explained on page 14.
13
COMPARISON OF FIVE-YEAR CUMULATIVE RETURN BASED UPON YEAR END TRADING PRICE
1999 2000 2001 2002 2003 2004 ------------------------------------------------------------------2005
---- ---- ---- ---- ---- ----
PUBLIXPublix $100.00 106.24 93.29 84.82 107.74 136.7187.81 79.84 101.41 128.67 171.70
S&P 500 100.00 90.90 81.58 62.53 79.71 89.54
PEER GROUP89.76 68.80 87.69 98.51 103.50
Peer Group 100.00 128.49 104.72 66.28 75.14 77.2681.50 51.58 58.48 60.13 61.61
(1) Companies included in the peer group are: A&P, Albertson's, Delhaize
America (Delhaize America was formerly Food Lion and was included through
December 2000 as it became a part of the Delhaize Group in April 2001),
Kroger,
Safeway, Weis Markets and Winn-Dixie.
Peer group companies thatPROPOSAL TO INCREASE THE AUTHORIZED SHARES OF COMMON STOCK
TO ALLOW FOR A 5-FOR-1 STOCK SPLIT
On November 9, 2005, the Board of Directors unanimously approved a 5-for-1
stock split of the Company's common stock to be effective on July 1, 2006.
However, the Company did not have been acquireda sufficient number of authorized but unissued
shares of the Company's common stock to effect the 5-for-1 stock split.
Accordingly, the stock split approved by the Board of Directors was conditioned
on the approval by the stockholders of an amendment to the Company's Restated
Articles of Incorporation. This amendment would increase the number of
authorized shares of the Company's common stock from 300,000,000 to
1,000,000,000 shares. The Board of Directors approved this amendment and
directed the amendment to be placed on the agenda of the 2006 Annual Meeting of
Stockholders for consideration of and to be voted upon by the stockholders.
If the amendment is approved, the amendment will be promptly filed with the
Florida Secretary of State and then the stock split will be effective on July 1,
2006. The stock split would be accomplished by directing stockholders of record
as of the close of business on June 30, 2006, to retain their current stock
certificates and by mailing to such stockholders new stock certificates
representing four times the number of shares of common stock held by them as of
the close of business on June 30, 2006. The certificates for the additional
shares will be mailed to the stockholders approximately 45 days after the
effective date. Stockholders should not send in their current stock certificates
to the Company.
14
The proposed amendment in no way affects or alters the rights or privileges
of current holders of the Company's common stock. Each share of common stock
shall continue to be entitled to one vote upon all matters presented to meetings
of stockholders.
The proposed amendment to the Restated Articles of Incorporation will be
approved if the votes cast in favor of the proposed amendment are includedgreater than
the votes cast in opposition of the performance graphs for all full
years prior to their acquisition.
14
proposed amendment. The Board of Directors
recommends a vote FOR the amendment.
PROPOSALS OF STOCKHOLDERS
Proposals of stockholders intended to be presented at the 20062007 Annual
Meeting of Stockholders must be received at the Company's corporate office prior
to November 10, 2005,16, 2006, for consideration for inclusion in the Proxy Statement
relating to that meeting.
OTHER MATTERS THAT MAY COME BEFORE THE MEETING
At the date of this Proxy Statement, the Board of Directors knows of no
matter other than the matters described herein that will be presented for
consideration at the meeting. However, if any other business shall properly come
before the meeting, all proxies signed and returned by stockholders will be
voted in accordance with the best judgment of the persons voting the proxies.
By order of the Board of Directors,
/s/ John A. Attaway, Jr.
- ------------------------
John A. Attaway, Jr.
Secretary
Lakeland, Florida
March 2, 20051, 2006
The Company's annual report to the Securities and Exchange Commission, Form
10-K, for the fiscal year ended December 25, 2004,31, 2005, is being mailed with this
proxy statement to stockholders of record and beneficial owners as of the close
of business on February 2, 2005.9, 2006. This report may also be obtained
electronically, free of charge, through the Company's website. The Company's
website address is http://www.publix.com/stock.
---------------------------
15
PUBLIX SUPER MARKETS, INC.
Annual Meeting of Stockholders
April 12, 200518, 2006 at 9:30 a.m.
Publix Corporate Office, 3300 Publix Corporate Parkway
Lakeland, Florida 33811
The Publix Super Markets, Inc. Board of Directors recommends a vote FOR the
nominees listed in Item 1 of this proxy.and a vote FOR Item 2. You are encouraged to specify
your choice by marking the appropriate box, but you need not mark any boxes if
you wish to vote in accordance with the Board of Directors' recommendation.recommendations. The
shares represented by this proxy card will not be voted unless you sign and
return this card by April 12, 2005,18, 2006, and the signed card is received prior to the
Annual Meeting.Meeting of Stockholders.
If you plan to attend the Annual Meeting of Stockholders in person, please mark
the appropriate box on the reverse side of this card.
Mark, sign, date and return your proxy card promptly using the enclosed
envelope.
PROXY CARDS MUST BE RECEIVED PRIOR TO THE ANNUAL MEETING ON APRIL 12, 2005.18, 2006.
YOUR VOTE IS VERY IMPORTANT TO US.
PUBLIX SUPER MARKETS, INC.
PROXY SOLICITED BY THE BOARD OF DIRECTORS FOR
THE ANNUAL MEETING OF STOCKHOLDERS TO BE HELD ON APRIL 12, 200518, 2006
The undersigned has received the Notice of Annual Meeting of Stockholders
("Meeting") to be held on April 12, 2005,18, 2006, the Proxy Statement dated March 2,
2005,1,
2006, and the 20042005 Annual Report to Stockholders for the Meeting. The
undersigned hereby appoints Howard M. Jenkins, Charles H. Jenkins, Jr. and
William E. Crenshaw, or any of them, as proxies with full power of substitution,
to vote all shares of Publix common stock that the undersigned is entitled to
vote at the Meeting, and at any adjournments or postponements thereof, as
described below. The undersigned acknowledges that the signing of this proxy
revokes any and all proxies previously given to vote the shares represented by
this proxy card at the Meeting.
1. Election of Directors:
Nominees: Carol Jenkins Barnett Hoyt R. Barnett Joan G. Buccino
William E. Crenshaw Sherrill W. Hudson Charles H. Jenkins, Jr.,
Howard M. Jenkins E. Vane McClurg Kelly E. Norton
Maria A. Sastre
[ ]|_| FOR all nominees listed above
[ ]|_| FOR, EXCEPT WITHHOLD VOTES FOR those nominees whose names have
been crossed out above
[ ]|_| WITHHOLD VOTES for all nominees listed above
2. Amendment: Approval of an amendment to the Publix Super Markets, Inc.
Restated Articles of Incorporation to increase the authorized number of
shares of Publix common stock from 300,000,000 to 1,000,000,000, to allow for
a 5-for-1 stock split.
|_| FOR |_| AGAINST |_| ABSTAIN
3. Other Matters: The proxies named above, in their discretion, may vote the
shares represented by this proxy card upon such other matters as may
properly come before the Meeting.
- -------------------------- -------- --------------------------- --------------------------------- ------------ ------------------------- -------------
Signature Date Signature if held jointly Date
Note: Please sign exactly as your name appears hereon. Joint owners must each
sign. When signing as attorney-in-fact, executor, administrator, trustee,
guardian or other representative capacity, please give full title as such.
PLEASE MARK, SIGN, DATE AND RETURN THIS PROXY CARD PROMPTLY USING THE
ENCLOSED ENVELOPE.
[ ]|_| I plan on attending the Annual Meeting of Stockholders in person on
April 12, 2005.
[ ]18, 2006.
|_| I have multiple accounts and do not want to receive Publix's Annual Report
to Stockholders for this account.
(You should leave this box unmarked on one proxy card.)
[ ]|_| The address listed below is incorrect. My new address is:
------------------------------------------------------------------------
Street
------------------------------------------------------------------------
City State ZipZIP Code
To the Participants of the Publix Super Markets, Inc.
Employee Stock Ownership PlanTO THE PARTICIPANTS OF THE PUBLIX SUPER MARKETS, INC.
EMPLOYEE STOCK OWNERSHIP PLAN ("ESOP")
Annual Meeting of Stockholders
April 12, 200518, 2006 at 9:30 a.m.
Publix Corporate Office, 3300 Publix Corporate Parkway
Lakeland, Florida 33811
Dear ESOP Participant:
The Publix Super Markets, Inc. Annual Meeting of Stockholders ("Meeting") is
being held on April 1218 this year. At the Meeting, the Trustee of the ESOP, Hoyt
R. Barnett, or his designee, will vote the shares of Publix common stock
allocated to your ESOP account according to your instructions. You may indicate
your voting instructions on the attached proxy on the last page of this booklet.
The Publix Board of Directors recommends a vote FOR the nominees listed in Item
1 of the proxy.and a vote FOR Item 2. If you indicate "WITHHOLD VOTES" for any or all
director nominees on your proxy, the Trustee or his designee will not exercise
voting rights for your ESOP shares with respect to such director nominees. If
you indicate "ABSTAIN" for Item 2 on your proxy, the Trustee or his designee
will not exercise voting rights for your ESOP shares with respect to such item.
If your voting instructions as indicated on your properly signed and dated proxy card are
not received prior to the Meeting, or if this proxy card is not returned, the
Trustee or his designee will vote your ESOP shares in his discretion.
If you plan to attend the Annual Meeting of Stockholders in person, please mark
the appropriate box on the attached proxy on the last page of this booklet.
Thank you,
Plan Administrator
Publix Super Markets, Inc.
March 2, 20051, 2006
PROXY CARDS MUST BE RECEIVED PRIOR TO THE ANNUAL MEETING ON APRIL 12, 2005.18, 2006.
YOUR VOTE IS VERY IMPORTANT TO US.
VOTING CARD IS ON THE LAST PAGE OF THIS BOOKLET.
PUBLIX SUPER MARKETS, INC.
REQUEST FOR VOTING INSTRUCTIONS IN CONNECTION WITH
THE ANNUAL MEETING OF STOCKHOLDERS TO BE HELD ON APRIL 12, 200518, 2006
The undersigned has received the Notice of Annual Meeting of Stockholders
("Meeting") to be held on April 12, 2005,18, 2006, the Proxy Statement dated March 2,
2005,1,
2006, and the 20042005 Annual Report to Stockholders for the Meeting. The
undersigned, a participant or beneficiary in the Publix Super Markets, Inc.
Employee Stock Ownership Plan ("ESOP"), with respect to all shares of Publix
common stock allocated to the ESOP account of the undersigned, the voting rights
of which are accorded to the undersigned under the ESOP (the "Account Shares"),
hereby requests and instructs Hoyt R. Barnett, Trustee of the ESOP, or the
Trustee's designee, as proxy to vote all of the Account Shares that the
undersigned is entitled to vote at the Meeting, and at any adjournments or
postponements thereof, in any manner and with the same effect as if the
undersigned were the record owner of the Account Shares. The undersigned
authorizes and instructs the Trustee or his designee to vote as described below.
The undersigned acknowledges that the signing of this proxy revokes any and all
proxies previously given to vote the Account Shares represented by this proxy
card at the Meeting.
1. Election of Directors:
Nominees: Carol Jenkins Barnett
Hoyt R. Barnett
Joan G. Buccino
William E. Crenshaw
Sherrill W. Hudson
Charles H. Jenkins, Jr.
Howard M. Jenkins
E. Vane McClurg
Kelly E. Norton
Maria A. Sastre
[ ]|_| FOR all nominees listed above
[ ]|_| FOR, EXCEPT WITHHOLD VOTES FOR those nominees whose names have been
crossed out above
[ ]|_| WITHHOLD VOTES for all nominees listed above
2. Amendment: Approval of an amendment to the Publix Super Markets, Inc.
Restated Articles of Incorporation to increase the authorized number of
shares of Publix common stock from 300,000,000 to 1,000,000,000, to allow for
a 5-for-1 stock split.
|_| FOR |_| AGAINST |_| ABSTAIN
3. Other Matters: The Trustee of the ESOP or his designee, in such person's
discretion, may vote the Account Shares represented by this proxy card upon
such other matters as may properly come before the Meeting.
The Account Shares of the undersigned will be voted as instructed above by the
Trustee or his designee if this proxy card is properly executed and received by
the Plan Administrator prior to the Meeting on April 12, 2005.18, 2006. If no voting
instructions are marked, or if this proxy card is not returned, the Trustee or
his designee will vote the Account Shares in his discretion.
- -------------------------------------------------------- ------------------------------------------------------ ------------------------
Signature Date
Note: Please sign exactly as your name appears on the reverse side of this proxy
card. When signing as attorney-in-fact, executor, administrator, trustee,
guardian or other representative capacity, please give full title as such.
[ ]|_| I plan on attending the Annual Meeting of Stockholders in person on
April 12, 2005.18, 2006.
PROMPTLY MARK, SIGN, DATE, TEAR ALONG THE PERFORATED LINE TO REMOVE PROXY CARD
FROM BOOKLET, FOLD AND RETURN EITHER THROUGH PUBLIX'S UNMETERED MAIL SYSTEM
OR IN THE ENCLOSED ENVELOPE.
Return to:
Retirement Department
Publix Corporate Office
Lakeland