| $26.0B | | | Net sales | |
| $1.0B | | | Net income | |
| $23.7B | | | Organic Net Sales* | |
| $6.4B | | | Adjusted EBITDA* | |
| 33.3% | | | Gross margin | |
| 2.9x | | | Year-end net leverage | |
| ~36K | | | Employees globally | |
| 79 | | | Manufacturing and processing facilities operated globally | |
| |
| | We are driving transformation at The Kraft Heinz Company, inspired by our Purpose, Let’s Make Life Delicious. Consumers are at the center of everything we do. With 2021 net sales of approximately $26 billion, we are committed to growing our iconic and emerging food and beverage brands on a global scale. We leverage our scale and agility to unleash the full power of Kraft Heinz across a portfolio of six consumer-driven product platforms. As global citizens, we’re dedicated to making a sustainable, ethical impact while helping feed the world in healthy, responsible ways. | |
| | | | | |
| | | |||
| With the world continuing to navigate COVID-19, a dynamic economy, and food insecurity, we know we have both a responsibility and a duty to keep our products on consumers’ tables while also helping the most vulnerable among us. As one of the world’s largest food and beverage companies, our commitment to helping feed the world remains constant. — Miguel Patricio, Chief Executive Officer and Director | |
| | |
| JOHN C. POPE Lead Director | |
| | | Notice of | | |||||||
| | | |||||||||
| | | | | | | | |
| | | Time | | | Location—Virtual Meeting | | |
| Thursday, May 5, 2022 | | | 11:00 a.m. Eastern Time | | | Live via webcast at www.virtualshareholdermeeting.com/KHC2022 | |
| |||||||||||
| | Recommendation | | | More Information | | |||||
| 1 To elect the eleven director nominees named in the Proxy Statement to one-year terms expiring in 2023 | | | | | FOR all nominees | | | Page 13 | | |
| 2 To approve the Company’s executive compensation | | | | | FOR | | | Page 48 | | |
| 3 To approve the frequency of holding an advisory vote to approve executive compensation | | | | | ONE YEAR | | | Page 49 | | |
| 4 To ratify the selection of PricewaterhouseCoopers LLP as our independent auditors for 2022 | | | | | FOR | | | Page 81 | | |
| 5 To vote on one stockholder proposal, if properly presented | | | | | AGAINST | | | Page 85 | | |
| 6 To transact any other business properly presented at the Annual Meeting | | | | | | | | | | |
| How to Vote | | ||||||||
| | | | | | | | | | |
| | | | | | | | |||
| Visit the website listed on your proxy card, Notice, or voting instruction form | | | | Call the phone number listed on your proxy card, Notice, or voting instruction form | | | | Complete, sign, date, and return your proxy card in the envelope enclosed with the physical copy of your proxy materials | |
| | | | | | | | | | |
| Your vote is important. Make sure to have your Notice of Internet Availability of Proxy Materials (“Notice”), proxy card, or voting instruction form with control number available and follow the instructions. For additional information, see Question 4 on page 89. | |
| | | Record Date | | |
| | | | March 7, 2022 | |
| Only stockholders of record | ||||
| |||||
We mailed our Notice of Internet Availability of our proxy materials as well as our Proxy Statement, our Annual Report to Stockholders for the year ended December | |
| | ||||||
| By Order of the Board of Directors, | | |||
| | | | Chicago, Illinois March | |
| | | | The Kraft Heinz Company’s Proxy | | |
| | | Table of Contents | | |||||||
| | | |||||||||
| | | | | | | | |
| Websites Links to websites included in this Proxy Statement are provided solely for convenience. Information contained on websites, including on our website, is not, and will not be deemed to be, a part of this Proxy Statement or incorporated by reference into any of our other filings with the Securities and Exchange Commission (the “SEC”). | |
| Note about Forward-Looking Statements This Proxy Statement contains information that may constitute forward-looking statements, as defined under U.S. federal securities laws. Words such as “aim,” “anticipate,” “aspire,” “believe,” “estimate,” “expect,” “intend,” “plan,” “will” and variations of such words and similar future or conditional expressions are intended to identify forward-looking statements. However, the absence of these words or similar expressions does not mean that a statement is not forward-looking. All statements regarding performance, events, developments, or achievements that we expect or anticipate will occur in the future, including statements expressing general views about future operating results or our targeted achievement of sustainability and other goals, are forward-looking statements. Management believes that these forward-looking statements are reasonable as and when made. However, caution should be taken not to place undue reliance on any such forward-looking statements as such statements speak only as of the date made. In addition, forward-looking statements are subject to certain risks and uncertainties that could cause our actual results to differ materially from historical experience and our present expectations or projections. These risks and uncertainties include, but are not limited to, those described in Item 1A, Risk Factors, in our Annual Report on Form 10-K for the year ended December 25, 2021 and those set forth in our future filings with the SEC. We disclaim and do not undertake any obligation to update, revise, or withdraw any forward-looking statements, whether as a result of new information, future events, or otherwise, except as required by applicable law or regulation. Forward-looking and other statements in this document may also address our environmental, social, and governance (ESG) and diversity, inclusion, and belonging progress, plans, and goals. The inclusion of such statements is not an indication that these are material to investors or required to be disclosed in the Company’s filings with the SEC. In addition, historical, current, and forward-looking environmental, diversity, and social-related statements may be based on standards for measuring progress that are still developing, internal controls and processes that continue to evolve, and assumptions that are subject to change in the future. | |
| | | Proxy Statement Summary | | |||||||
| | | |||||||||
| | | | | | | | |
| | | | www.kraftheinzcompany.com/ | diversity-inclusion | ||
| | | |
| TASTE ELEVATION | | | | | | |||||
| Enhancing the taste, flavor, and | | | | | Nutrition-rich, tasty, convenient clean food experiences | | ||||
| | FAST FRESH MEALS | | | EASY INDULGENT DESSERTS | | | FLAVORFUL HYDRATION | | | |
| | Help consumers make fresh, easy prepared or assembled meals | | | Sweet and | | | Hydration across kids’ beverages and beverages mixes | | |
| | | | INCOME | | | | CASH FLOW | | |||||||||||||||||||||||||||||||
| NET SALES | | | | ORGANIC NET SALES* | | | | NET INCOME | | | | ADJUSTED EBITDA* | | | | NET CASH PROVIDED BY OPERATING ACTIVITIES | | | | FREE CASH FLOW* | | ||||||||||||||||||
| $26.0B | | | | $23.7B | | | | $1.0B | | | | $6.4B | | | | $5.4B | | | | $4.5B | | ||||||||||||||||||
| | | ||||||||||||||||||||||||||||||||||||||
decrease | | | ||||||||||||||||||||||||||||||||||||||
| | | | | ||||||||||||||||||||||||||||||||||||
| | | | | | | | 4.5% year- decrease | | | | | | 8.8% year- over-year increase | | | | | | 2.9% year- over-year increase | | |||||||||||||||||||
| Our aim is to set ambitious environmental goals, source sustainably, improve the products we sell, and make impactful advancements in communities — all with a commitment to transparency. As detailed in our most recent ESG Report released in 2021 and highlighted under Corporate Governance—Environmental Social Governance beginning on page 32, we believe we made significant progress against our ESG goals. In addition, we are proud to have been awarded Global Industry Movers status by S&P Global in The Sustainability Yearbook 2021, which considered over 7,000 companies assessed in the 2020 Corporate Sustainability Assessment. | | | |
| • Miguel Patricio, Council Chair, Chief Executive Officer and Director • Carlos Abrams-Rivera, Executive Vice President and President, North America • Pamay Bassey, Chief Learning and Diversity Officer • Tim Kenesey, Director | | | • Rashida La Lande, Executive Vice President, Global General Counsel, and Chief Sustainability and Corporate Affairs Officer; Corporate Secretary • Elio Leoni Sceti, Director • Rafael Oliveira, Executive Vice President and President, International Markets • Melissa Werneck, Executive Vice President and Global Chief People Officer | |
| 100 score on Human Rights Campaign Corporate Equality Index (CEI) for fourth consecutive year | | | Included in Bloomberg’s 2022 Gender-Equality Index | | | Great Place to Work- Certified™ Canada 2020–2021 | | | Pamay Bassey, Chief Learning and Diversity Officer, recognized on Crain’s Chicago Business 2021 Notable Executives in Diversity, Equity and Inclusion | |
| | | | www.kraftheinzcompany.com/diversity-inclusion | | | The information on our website is not, and will not be deemed to be, a part of this Proxy Statement or incorporated by reference into any of our other filings with the SEC. | | |
| Proposal | | | Board Recommendation | | | More Information | | |||
| 1 Election of Directors | | | | | FOR all nominees | | | Page 13 | | |
| 2 Advisory Vote to Approve Executive Compensation | | | | | FOR | | | Page 48 | | |
| 3 Advisory Vote on the Frequency of Holding an Advisory Vote to Approve Executive Compensation | | | | | ONE YEAR | | | Page 49 | | |
| 4 Ratification of the Selection of PricewaterhouseCoopers LLP as Our Independent Auditors for 2022 | | | | | FOR | | | Page 81 | | |
| 5 Stockholder Proposal – Water Risk | | | | | AGAINST | | | Page 85 | |
| Internet | | | By Telephone | | | By Mail | |
| Visit the website listed on your proxy card, Notice, or voting instruction form. | | | Call the phone number listed on your proxy card, Notice, or voting instruction form. | | | Complete, sign, date, and return your proxy card in the envelope enclosed with the physical copies of your proxy materials. | |
| | When | | | ||||||||||||
| | Where | | |||||||||||||
11:00 a.m. Eastern Time on Thursday, May 5, 2022 | | | Live webcast at www.virtualshareholdermeeting.com/KHC2022 | | ||||||||||||
| | Access | | |||||||||||||
To access the live webcast Annual Meeting, visit www.virtualshareholdermeeting.com/ | | |||||||||||||||
| Name and Current Position | | | Age | | | Director Since | | | Other Current Public Company Boards | | | Independent | | | Kraft Heinz Committee Membership | | |||||||||
| Audit | | | Compensation | | | Governance | | | Ops & Strategy | | |||||||||||||||
| Alexandre Behring Chairman Founding Partner, Managing Partner, and Board Member, 3G Capital | | | 54 | | | 2015 | | | 1 | | | | | | | | | | | | | ||||
| John T. Cahill Vice Chairman Former Chairman and Chief Executive Officer, Kraft Foods Group, Inc. | | | 63 | | | 2015 | | | 2 | | | | | | | | | | | | | | | | |
| John C. Pope Lead Director Chairman, PFI Group, LLC | | | 71 | | | 2015 | | | 3 | | | | | | | | | | | | | ||||
| Gregory E. Abel Vice Chairman, Non-Insurance Business Operations and Director, Berkshire Hathaway Inc. | | | 58 | | | 2015 | | | 1 | | | | | | | | | | | | | | | ||
| João M. Castro-Neves Partner, 3G Capital | | | 53 | | | 2019 | | | 1 | | | | | | | | | | | | | ||||
| Lori Dickerson Fouché Former Senior Executive Vice President and Chief Executive Officer of TIAA Financial Solutions, TIAA | | | 51 | | | Nominee | | | None | | | | | | | | | | | | | | | ||
| Timothy Kenesey President and Chief Executive Officer, MedPro Group, Inc. | | | 53 | | | 2020 | | | None | | | | | | | | | | | | | | | ||
| Elio Leoni Sceti Co-Founder, Chief Crafter, and Chairman, The Craftory | | | 55 | | | 2020 | | | 2 | | | | | | | | | | | | | | |||
| Susan Mulder Chief Executive Officer, Nic & Zoe Co. | | | 50 | | | 2020 | | | 1 | | | | | | | | | | | | | | |||
| Miguel Patricio Chief Executive Officer, Kraft Heinz | | | 54 | | | Nominee | | | None | | | | | | | | | | | | | | | | |
| Alexandre Van Damme Former Executive Officer, Anheuser-Busch InBev | | | 59 | | | 2018 | | | 1 | | | | | | | | | | | | | | |
| Name and Current Position | | | Age | | | Director Since | | | Other Current Public Company Boards | | | Independent | | | Kraft Heinz Committee Membership | | ||||||
| Audit | | | Compensation | | | Governance | | |||||||||||||||
| Miguel Patricio Chair(1)and Chief Executive Officer Kraft Heinz | | | 55 | | | 2021 | | | None | | | | | | | | | | | | | |
| John T. Cahill Vice Chair Former Chief Executive Officer and Executive Chairman, Kraft Foods Group, Inc. | | | 64 | | | 2015 | | | 2 | | | | | | | | | | | | | |
| John C. Pope Lead Director Chairman, PFI Group LLC | | | 72 | | | 2015 | | | 2 | | | | | | | | | | ||||
| Gregory E. Abel Vice Chair, Non-Insurance Operations and Director, Berkshire Hathaway Inc. | | | 59 | | | 2015 | | | 1 | | | | | | | | | | | | | |
| João M. Castro-Neves Partner, 3G Capital | | | 54 | | | 2019 | | | 1 | | | | | | | | | | | |||
| Lori Dickerson Fouché Former Senior Executive Vice President and Chief Executive Officer, TIAA Financial Solutions, TIAA | | | 52 | | | 2021 | | | 1 | | | | | | | | | | | | ||
| Timothy Kenesey President and Chief Executive Officer, MedPro Group Inc. | | | 54 | | | 2020 | | | None | | | | | | | | | | | | ||
| Alicia Knapp President and Chief Executive Officer, BHE Renewables, LLC | | | 43 | | | Nominee | | | None | | | | | | | | | | | | ||
| Elio Leoni Sceti Co-Founder, Chief Crafter, and Chairman, The Craftory | | | 56 | | | 2020 | | | 2 | | | | | | | | | | | |||
| Susan Mulder Global Brand President, Timberland, a subsidiary of VF Corporation | | | 51 | | | 2020 | | | None | | | | | | | | | | | |||
| James Park Vice President and General Manager, Fitbit Business Unit, Alphabet, Inc. | | | 45 | | | Nominee | | | None | | | | | | | | | | | |
| Committee Chair | | | Committee Member | | | (1) If re-elected, the Board expects to appoint Mr. Patricio as Chair. (2) If re-elected, the Board expects to appoint Mr. Pope to such position. Mr. Behring will remain Governance Committee Chair through the Annual Meeting. (3) If elected, the Board expects to make such Committee appointment. (4) If re-elected, the Board expects Mr. Leoni Sceti to step down from the Committee following the Annual Meeting. | |
| Independence | | | 9 of 11 independent Independent Lead Director Regular executive sessions of independent directors | |
| Accountability | | | Annual election of all directors Simple majority voting standard in uncontested elections One class of voting stock Special meetings | |
| Evaluation and Effectiveness | | | Annual Board and Committee self-evaluations | |
| Refreshment and Diversity | | | 36% of director nominees Average age of director nominees is Balance of new and experienced directors, with | |
| Active Board Oversight and Engagement | | | Directors attended an average of Overboarding policy | |
| Alignment with Stockholder Interests | | | Executive officer and independent director stock ownership requirements Double-trigger cash severance No poison pill | |
| Compensation Policies | | | Clawback policy Anti-hedging policy | |
| Stockholder Rights | | | Annual say-on-pay advisory votes Call a special meeting at a 20% threshold Act by written consent | |
| Robust Investor Engagement Program | | | Proactive year-round engagement with stockholders Incorporation of stockholder input in our strategies and programs, including our executive compensation program | |
| | | What We Do | | | | | | | | What We Do NOT Do | | ||
| Base pay increases on merit and market alignment Maintain a clawback policy covering both cash and equity Use double-trigger change in control provisions Compensation Committee comprised of 100% independent directors Retain independent consultant for risk assessment of | | | | | | No excessive risk taking that would threaten the reputation or sustainability of Kraft Heinz No excise tax No guaranteed salary increases or bonuses No single-trigger change in control provisions No short-selling Kraft Heinz securities, transacting in puts, calls, or other derivatives on Kraft Heinz securities or hedging transactions on Kraft Heinz securities without prior approval from the Corporate Secretary No holding Kraft Heinz securities in a margin account or pledging Kraft Heinz securities as collateral for a loan without advance written notice to the Corporate Secretary | |
For additional information, see Corporate Governance and Board Matters—Investor Engagement—2021 Executive Compensation Changes beginning on page 38. The Kraft Heinz Company 2022 Proxy Statement|11 Proxy Statement Summary | |||||
| | | Proposal | | |||||||
| | | |||||||||
| | | | | | | | |
| Factors | | | Considerations | | ||||||
| Skills, Expertise, and Experience | | | • The Governance Committee seeks director nominees with | | ||||||
| o disruptive/digital | o manufacturing o marketing | | | o technology o businesses and markets | | | o accounting o | | ||
| Diversity | | | • Although the Board does not have a specific diversity policy, the Governance Committee believes that diversity offers a significant benefit to the Board and Kraft Heinz, as varying viewpoints contribute to a more informed and effective decision-making process. The Governance Committee actively seeks to achieve a diversity of occupational and personal backgrounds on the Board, including diversity with respect to gender, race, ethnic and national background, geography, age, and sexual orientation, and evaluates each individual nominee and director in the context of the Board as a whole. The Board also evaluates its diversity as part of its annual self-evaluation process. • We believe the composition of the Board reflects those efforts and the importance of diversity to the Board. This year, For the Nasdaq Board Diversity Matrix, see Other Information—Diversity Quick Summary beginning on page 97. | |
| Factors | | | Considerations | | |||
| Commitment | | | • The Governance Committee considers a director nominee’s ability to devote sufficient time and effort to fulfill • In addition, in determining whether to recommend a director for re-election, the Governance Committee considers the director’s attendance at Board and Committee meetings and participation in, and contributions to, Board and Committee activities. | | |||
| • Our | | | | ||||
| Independence | | | • The Board considers whether a nominee meets various independence requirements applicable to | |
| | ||||||||||
| Tenure and Refreshment | | | • The Board considers the mix of experience on the Board to balance leadership continuity and a sound understanding of our business and strategy with new perspectives that challenge us and push our continual growth. • We have added six new directors to our Board since • The average tenure of our director nominees is 2.7 years. | | | |
| | | | Skills, Expertise, and Experience | | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| | | | | | | | | | | | | | | | | | | | | | | ||||||||||||||||||||||||||||||||||||||||
| Directors | | | Audit | | | CPG | | | Disruptive/ Digital | | | Financial | | | International | | | Legal/ Regulatory | | | Marketing/ Sales | | | Operations | | | Public Company Leadership | | | Strategic/ M&A | | ||||||||||||||||||||||||||||||
| Miguel Patricio Chair* and CEO | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | ||||||||||||||||||||||||||||
| John T. Cahill Vice Chair | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | ||||||||||||||||||||||||||||
| John C. Pope Lead Director | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | ||||||||||||||||||||||||||||
| Gregory E. Abel | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | ||||||||||||||||||||||||||||
| João M. Castro-Neves | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | ||||||||||||||||||||||||||||
| Lori Dickerson Fouché | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | ||||||||||||||||||||||||
| Timothy Kenesey | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | ||||||||||||||||||||||||
| Alicia Knapp | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | ||||||||||||||||||||||||
| Elio Leoni Sceti | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | ||||||||||||||||||||||||||||||||
| Susan Mulder | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | ||||||||||||||||||||||||||||
| James Park | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | ||||||||||||||||||||||||||||
| Number of 11 Directors | | | | | 7 | | | | | | 6 | | | | | | 4 | | | | | | 9 | | | | | | 9 | | | | | | 5 | | | | | | 7 | | | | | | 10 | | | | | | 7 | | | | | | 11 | | |
| % of Board | | | | | 64% | | | | | | 55% | | | | | | 36% | | | | | | 82% | | | | | | 82% | | | | | | 45% | | | | | | 64% | | | | | | 91% | | | | | | 64% | | | | | | 100% | | |
| | | | Skills and Experience | | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| | | | | | | | | | | | | | | | | | | | | | | ||||||||||||||||||||||||||||||||||||||||
| Director Nominees | | | Audit | | | CPG | | | Disruptive / Digital | | | Financial | | | International | | | Legal / Regulatory | | | Marketing / Sales | | | Operations | | | Public Company Leadership | | | Strategic / M&A | | ||||||||||||||||||||||||||||||
| Alexandre Behring Chairman | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | ||||||||||||||||||||||||
| John T. Cahill Vice Chairman | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | ||||||||||||||||||||||||||||
| John C. Pope Lead Director | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | ||||||||||||||||||||||||||||
| Gregory E. Abel | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | ||||||||||||||||||||||||||||
| João M. Castro-Neves | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | ||||||||||||||||||||||||||||
| Lori Dickerson Fouché | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | ||||||||||||||||||||||||
| Timothy Kenesey | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | ||||||||||||||||||||
| Elio Leoni Sceti | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | ||||||||||||||||||||||||||||||||
| Susan Mulder | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | ||||||||||||||||||||||||||||
| Miguel Patricio | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | ||||||||||||||||||||||||||||
| Alexandre Van Damme | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | ||||||||||||||||
| Number of Directors | | | | | 7 | | | | | | 8 | | | | | | 3 | | | | | | 9 | | | | | | 8 | | | | | | 4 | | | | | | 5 | | | | | | 9 | | | | | | 7 | | | | | | 11 | | |
| % of Board | | | | | 64% | | | | | | 73% | | | | | | 27% | | | | | | 82% | | | | | | 73% | | | | | | 36% | | | | | | 46% | | | | | | 82% | | | | | | 64% | | | | | | 100% | | |
| Officer | | | | Key Qualifications Mr. Career Highlights • Kraft Heinz o Chief Executive Officer (June 2019 to Anheuser-Busch InBev SA/NV (“AB InBev”), a multinational drink and brewing holdings company o Chief of Special Global Projects− Marketing (January 2019 to o Chief Marketing Officer (2012 to December 2018) o Various zone president and marketing leadership roles (2005 to 2012) • Companhia de Bebidas das Americas S.A. (“Ambev”), a o Chief • Philip Morris Companies Inc., o Vice President, Marketing (1997 to 1999) • The Coca-Cola Company, a global beverage company o Global Marketing Director (1996 to 1997) • Johnson & Johnson, a pharmaceutical and o Global Marketing Director (1989 to | | | Other Current Public Company Boards • None Other Current and Prior Boards • None | |
| Director since Committees Other Current Public Company Boards |
* If re-elected, the Board expects to appoint Mr. | ||||||
| |
| JOHN T. CAHILL Vice Chair | | | | Key Qualifications Mr. Cahill brings to the Board extensive experience in the food and beverage industry, global leadership, operating, marketing, and product development experience. Career Highlights • Kraft Foods Group, Inc., one of our predecessor companies o Chief Executive Officer (2014 to 2015) o Executive Chairman (2012 to 2014) • Mondelēz International, Inc. (“Mondelēz”), a food and beverage company and former parent of Kraft Foods Group, Inc. o Executive Chairman Designate, North American Grocery (2012) • Ripplewood Holdings LLC, a private equity firm o Industrial Partner (2008 to 2011) • PepsiCo, Inc., a global food and beverage company, and affiliates o Various executive and senior financial positions (1989 to 2007) | | | Other Current Public Company Boards • Colgate-Palmolive Company, a global consumer products company o Director (2005 to present) • American Airlines Group, an airline holding company o Lead Independent Director (2013 to present) Other Current and Prior Boards • Kraft Foods Group, Inc. (2012 to 2015) • Legg Mason, Inc., a financial services holding company (2010 to 2014) | |
| Age 64 Director and Vice-Chair since July 2015 Committees None Other Current Public Company Boards 2 | | |
| JOHN C. POPE Lead Director | | | | Mr. Pope brings to the Board extensive accounting and financial expertise, as well as valuable leadership, operating, marketing, and international experience. PFI Group LLC, a financial management firm o Chairman • United Airlines, a U.S.-based airline, and its parent, UAL Corporation o Various executive roles in operations, finance, and marketing (1988 to 1994) | | | Other Current Public Company • Waste Management, Inc., a provider of comprehensive waste management o Director (1997 to present); Chairman of the • Talgo S.A., a railcar manufacturer o Director (2015 to present) Other Current and • R. R. Donnelley & Sons Company • Kraft Foods Group, Inc. • Kraft Foods Inc. (now Mondelēz) (2001 to 2012) • Con-way, Inc., multinational freight transportation and logistics company (2003 to 2015) • Dollar Thrifty Automotive Group, Inc., | |
| Age Director since July 2015 Lead Director since January 2021 Committees Audit (Chair) Compensation Governance (Chair)* Other Current Public Company Boards * If re-elected, the Board expects to appoint Mr. Pope as Chair of the Committee. | | |
| GREGORY E. ABEL | | | | Key Qualifications Mr. Abel Berkshire Hathaway Inc., o Vice Chair, Non-Insurance Operations (January 2018 to present) • Berkshire Hathaway Energy Company, a global holding company that owns o Chief Executive Officer (2008 to January 2018) o President (1998 to January 2018) | | | Other Current Public Company Boards • Berkshire Hathaway Inc. o Director (January 2018 to present) Other Current and • Berkshire Hathaway Energy Company (2011 to present) • H.J. Heinz Holding Corporation, one of • HomeServices of America Inc., a | |
| Age Director since July 2015 Committees Other Current Public Company Boards 1 | | |
| JOÃO M. | | | | Mr. Castro-Neves 3G Capital o Partner (July 2018 to present) • AB InBev o Chief Executive Officer of Anheuser-Busch • Ambev o Chief Executive Officer • Quilmes Industrial S.A., an Argentine beverage company and subsidiary of Ambev o Chief Executive Officer (2007 to 2008) | | | Other Current Public Company Boards • Restaurant Brands International Inc. (“RBI”), parent company of o Director (June 2018 to present) Other Current and Prior Boards • None | |
| Age Director since June 2019 Committees Compensation (Chair) Governance Other Current Public Company Boards 1 | | |
| | | | Qualifications Ms. TIAA, a financial services firm o Senior Executive Vice President and Advisor to the Chief Executive Officer o Senior Executive Vice President and Chief Executive Officer, TIAA Financial Solutions (August 2018 to June 2020) • Prudential Financial, Inc. (“Prudential”), a o Group Head of Individual Solutions (July 2017 to August 2018) o President of Prudential Annuities (2015 to July 2017) o Chief Executive Officer, Prudential Group Insurance (2014 to 2015) | | | Other Current Public Company Boards • Hippo Holdings Inc., and its predecessor Hippo Enterprises Inc., a property insurance company o Director (May 2021 to present) Other Current and Prior Boards • Gusto Inc., a • Princeton University Board of | | |
| Age Director since Committees Audit Other Current Public Company Boards 1 | | |
| | | | Key Qualifications Mr. Career Highlights • MedPro Group Inc., a healthcare liability insurance company and subsidiary of o President and Chief Executive Officer, • General Electric Company, an industrial technology company o Senior Vice President o Global Business Development Manager of GE Healthcare (1998 to 1999) • Sidley Austin LLP, a global law firm o Attorney focused on mergers and • KPMG LLP, an accounting firm o Audit and Tax Accountant (1989 to 1990) | | | Other Current Public Company Boards • None Other Current and • Fechheimer Brothers, a public safety uniform and apparel company and subsidiary of Berkshire Hathaway Inc. (2007 to present) • Various other smaller insurance subsidiaries of Berkshire Hathaway Inc. | | |
| Independent Age 54 Director since January 2020 Committees Compensation Other Current Public Company Boards None | | |
| ALICIA KNAPP | | | | Key Qualifications Ms. Knapp brings to the Board deep experience as a strategic leader, particularly in renewable energy and sustainability, and significant operational, risk management, and financial acumen. Career Highlights • BHE Renewables, LLC (“BHE Renewables”), a renewable energy company and subsidiary of Berkshire Hathaway Inc. o President and Chief Executive Officer (December 2020 to present) • MidAmerican Energy Company (“MidAmerican Energy”), an energy company providing electric and natural gas service and subsidiary of Berkshire Hathaway Inc. o Vice President, Renewable Generation (May 2020 to December 2020) o Vice President, Gas Delivery (October 2018 to May 2020) o General Manager, Gas Operations (January 2018 to October 2018) • BHE Renewables o General Manager (August 2017 to January 2018) o Project Manager (2012 to August 2017) • MidAmerican Energy o Project Manager, Nuclear (2010 to 2012) o Various roles in risk management and energy trading (2001 to 2010) | | | Other Current Public Company Boards • None Other Current and Prior Boards • None | |
| Independent Age 43 New director nominee Committees Governance* Other Current Public Company BoardsNone * If elected, the Board expects to appoint Ms. Knapp to the Committee. | | |
| ELIO LEONI SCETI | | | | Key Qualifications Mr. Leoni Sceti brings to the Board deep experience in the consumer goods sector, operations, marketing, product development, and disruptive and digital areas. Career Highlights • The Craftory, a global investment house for purpose-driven CPG challenger brands o Co-Founder, Chief Crafter, and Chairman (May 2018 to present) • Active investor in and advisor to early-stage tech companies (2010 to present) • Iglo Group, a frozen food company whose brands include Birds Eye, Findus, and Iglo o Chief Executive Officer (2013 to 2015) • EMI Group, a global music company o Chief Executive Officer (2008 to 2010) • Reckitt Benckiser Group plc, a home, health and personal care products company o Executive Vice President and Head of the European Operations (2006 to 2008) o Executive Vice President and Chief Marketing Officer, Global Head of Innovation (2001 to 2005) o Various marketing and management roles (1992 to 2001) • Procter & Gamble Company, a consumer packaged goods company o Various marketing roles (1988 to 1992) | | | Other Current Public Company Boards • Barry Callebaut AG, a global chocolate and cocoa products manufacturer o Director (December 2017 to present) • AB InBev o Independent Director (2014 to present) Other Current and Prior Boards • LSG Holdings Limited, an investment management company (2011 to present) • Various portfolio companies of The Craftory • Room to Read, UK Board, a charitable organization promoting education and gender equality (April 2019 to present) • One Young World, Board of Trustees, a global forum for young leaders from over 190 countries (2011 to present) | |
| Independent Age 56 Director since May 2020 Committees Audit* Compensation Other Current Public Company Boards 2 * If re-elected, the Board expects Mr. Leoni Sceti to step down from the Committee following the Annual Meeting. | | |
| SUSAN MULDER | | | | Key Qualifications Ms. Mulder brings to the Board extensive experience in the consumer goods and retail sectors and direct-to-consumer e-commerce as well as knowledge of corporate governance and finance. Career Highlights • Timberland, an outdoor lifestyle brand and subsidiary of VF Corporation o Global Brand President (April 2021 to present) • Equality Asset Management, a private equity firm o Advisor (July 2018 to present) • Nic & Zoe Co., a women’s apparel company o Chief Executive Officer and Director (2012 to April 2021) • McKinsey & Company, a global management consulting firm o Senior Partner, specializing in marketing and organization (1996 to 2012) | | | Other Current Public Company Boards • None Other Current and Prior Boards • Sally Beauty Holdings, Inc. (2014 to January 2022) • Boston Children’s Hospital Philanthropic Board of Advisors (2005 to December 2021) | |
| Independent Age 51 Director since May 2020 Committees Audit Governance Other Current Public Company Boards None | | |
| | | | Key Qualifications Mr. Google LLC (“Google”), a o Vice President and • Fitbit, Inc., a connected health and fitness company (acquired by Google in January 2021) o Chairman (2015 to January 2021) o Co-Founder, President, Chief Executive Officer, and • CNET Networks, Inc. (“CNET”), an online media company o Director of Product Development (2005 to 2007) • Wind-Up Labs, Inc., an online photo sharing company (acquired by CNET in 2005) o President and Co-Founder (2002 to 2005) | | | Other Current Public Company Boards • None Other Current and Prior Boards • Fitbit, Inc. (2007 to January 2021) | | |
| Independent New director nominee Committees Other Current Public Company Boards * If elected, the Board expects to appoint Mr. Park to the Committee. | | |
| | | | The Board recommends that stockholders voteFOReach of the director nominees named for election in this Proxy Statement. | | |
| | | Corporate Governance and Board Matters | | |||||||
| | | |||||||||
| | | | | | | | |
| | In addition, we will promptly deliver free of charge, upon request, a copy of the Corporate Governance Guidelines, Committee Charters, or Codes of Conduct to any stockholder requesting a copy. | | | Requests should be directed to: | | | |||
| | | The Kraft Heinz Company Attention: Corporate Secretary 200 East Randolph Street Suite 7600 Chicago, Illinois 60601 | | |
Leadership | | | Stockholder Interests | | |
Leadership Structure After combining the Executive Sessions At each Board meeting, our directors meet without Special Meetings of the Board Our Amended and Restated By-Laws (“By-Laws”) allow Annual Performance Evaluations The Governance Committee develops and oversees an annual evaluation process for the Board and all Committees of the Board. Director Time Commitment We maintain a policy that limits directors’ service on the boards of other public companies to | | | Majority Voting in Director Elections Our By-Laws provide that in uncontested elections director nominees must be elected by a majority of the votes cast. Annual Election of Directors Our stockholders vote to elect all directors annually. Stock Ownership Requirements Our stock ownership requirements are designed to align executive officers’ and directors’ interests with those of stockholders. Annual Say-on-Pay Votes We solicit Proactive Year-Round Engagement with Stockholders We reach out to our largest stockholders for engagement in the fall, in advance of our annual review of governance best practices, and in the spring, in advance of our Annual Meeting. In addition, we engage with investors and other stakeholders on an ongoing basis regarding various ESG matters. Special Meetings of Stockholders Our By-Laws allow stockholders of record of at least 20% of the voting power of our outstanding stock to call a special meeting of stockholders. Stockholder Action by Written Consent Our Second Amended and Restated Certificate of Incorporation allows stockholder action by written consent if signed by holders of not less than the minimum number of shares necessary to authorize such action at a meeting at which all shares of capital stock entitled to vote thereon were present and voted. | |
| | | | | | | | |
| INDEPENDENT | | | | | | VICE | |
| Alexandre Behring | | | | | | John T. Cahill | |
| The | | | | | | The Vice | |
| | | ||||||
| INDEPENDENT LEAD DIRECTOR | | ||||||
| John C. Pope | | ||||||
| The Lead Director: • Approves Board meeting agendas, meeting schedules, and other information sent to the Board • Presides at all meetings at which the • Serves as a Board representative for • Serves as liaison between the • Has the authority to call meetings of (i) the independent directors and (ii) the directors unaffiliated with Berkshire Hathaway and 3G Capital • • Performs such other duties as the Board may from time-to-time delegate | |
| • Mr. Abel • Mr. • | | | • • • Mr. Leoni Sceti | | | • Ms. Mulder • Mr. Pope • Mr. | | | |
We |
| ||||||||||||||
Board of Directors PROVIDES OVERSIGHT | • Oversees our global ESG strategy and objectives, including our activities and opportunities, • In July 2021, ESG the Operations and Strategy Committee, which was dissolved, to the full Board. We believe the full Board’s responsibility for consideration and oversight of critical ESG issues enhances our sustainability efforts, which are a critical component of our overall enterprise strategy. | | ||||||||||||
| | | | | | | ||||||||
| | | | | | |||||||||
| Chief Executive Officer PROVIDES EXECUTIVE SUPPORT • Collaborates with select members of the Executive Leadership Team on oversight and executional leadership on • Has an annual performance goal that tracks our ESG | | ||||||||||||
| | | | | | | ||||||||
| | | | | | |||||||||
| Executive Vice President, Global General Counsel, and | | • Oversees global ESG strategy, reports to the Chief Executive Officer, and collaborates with our ESG Team to establish and lead plan • Has an annual performance goal that tracks our ESG | | ||||||||||
| | | | | | | ||||||||
| | | | | | |||||||||
| Quarterly Business Reviews • Quarterly Business Review meetings with members of the Executive Leadership Team. | | ||||||||||||
| | | | | | | | |||||||
| | | | | | |||||||||
| ESG Steering Group •Provides cross-functional, upper-level management input on ESG practices and | | ||||||||||||
| | | | | | | ||||||||
| | | | | | |||||||||
| ESG Subcommittees • Provide high-touch engagement, track emergent issues, and drive collaboration, transparency, and continuous improvement toward • Hold monthly | | ||||||||||||
| o Product Health o Sustainable Agriculture o Responsible Sourcing o Sustainable Manufacturing | | | o Sustainable Packaging o Animal Welfare o Corporate and Government Affairs o Communications | | |||||||||
| | | | | | | ||||||||
| | | | | | |||||||||
| • Directs the design, development, execution, and continuous improvement of our global ESG strategy, goals, and initiatives. | |
STAKEHOLDER ENGAGEMENT | ||||||||||
| | | | ||||||
| | | We are also committed to working with our key agricultural commodity growers to help both mitigate and adapt to the impacts of climate change, while also promoting more sustainable practices. We’ve initially launched this work with our tomato growers and more information on our progress in this area will be published in future ESG reports. | |
| We are committed to providing transparency regarding our sustainability initiatives and progress to our stockholders and other stakeholders, including through our annual ESG reports. In addition to our annual ESG reports, we provide information on our ESG strategy and progress and related policies and principles on our website at: | | | |
| | | | www.kraftheinzcompany.com/esg | | | The information on our website is not, and will not be deemed to be, a part of this Proxy Statement or incorporated by reference into any of our other filings with the SEC. | | |
| Overall Rationale and Plan Design | | | Key Facets of 2021 CEO Compensation | |
| Compensation program for executive officers is structured around pay for performance and meritocracy This is reflected in the pay mix with the focus on incentive and performance-based compensation | | | • • Financial interests strongly aligned with stockholders’ interests and pay for performance in two ways: o Significant personal investment reflecting his long-term investment in the Company—personally purchased $20 million o New hire inducement equity awards heavily weighted on at-risk, performance-based elements (63% of awards) • Two-thirds of | |
| | | Board Committees and Membership | | |||||||
| | | |||||||||
| | | | | | | | |
| | | | | | | | | | |||
| | Audit | | | | Compensation | | | | Nominating and Corporate Governance | | |
| | | | | | Committee Memberships | | | | | | | Committee Memberships | | |||||||||||||||||
| Directors | | Independent | | Audit | | Compensation | | Governance | | Ops & Strategy | | Directors | | Independent | | Audit | | Compensation | | Governance | | |||||||||
| Alexandre Behring, Chairman | | | | | | | | Alexandre Behring, Chair | | | | | | | ||||||||||||||||
| John T. Cahill, Vice Chairman | | | | | | | | | | | John T. Cahill, Vice Chair | | | | | | | | | | ||||||||||
| John C. Pope, Lead Director | | | | | | | | John C. Pope, Lead Director | | | | | | |||||||||||||||||
| Gregory E. Abel | | | | | | | | | | Gregory E. Abel | | | | | | | | | ||||||||||||
| João M. Castro-Neves | | | | | | | | João M. Castro-Neves | | | | | | | ||||||||||||||||
| Timothy Kenesey | | | | | | | | | | Lori Dickerson Fouché | | | | | | | | |||||||||||||
| Jorge Paulo Lemann | | | | | | | | | Timothy Kenesey | | | | | | | | ||||||||||||||
| Elio Leoni Sceti | | | | | | | | | Elio Leoni Sceti | | | | | | | |||||||||||||||
| Susan Mulder | | | | | | | | | Susan Mulder | | | | | | | |||||||||||||||
| Alexandre Van Damme | | | | | | | | | | Miguel Patricio | | | | | | | | | | |||||||||||
| George Zoghbi | | | | | | | | | | | | Alexandre Van Damme | | | | | | | | |||||||||||
| Meetings in 2020 | | 8 Board | | 9 | | 4 | | 4 | | 7 | | Meetings in 2021 7 Board | | | | 10 | | 3 | | 4 | |
| AUDIT COMMITTEE | | | | Principal Responsibilities • • Oversees our compliance with applicable legal and regulatory requirements, including our ethics and compliance programs, codes of conduct, and actual or alleged violations of the codes of conduct • Oversees our enterprise risk management program, including risk assessment and risk management guidelines, policies, and processes by which we manage risk, such as those related to major financial risk exposures, information technology, and cybersecurity • Oversees our independent auditors’ Ethics and Compliance The Audit Committee has established procedures for the receipt, retention, and treatment, on a confidential basis, of any complaints we receive. We encourage employees and third-party individuals and organizations to report concerns about our accounting controls, auditing, ethics, or compliance matters, or anything else that appears to involve financial or other wrongdoing. To report such matters online or find a local phone number to report by phone, including anonymously, | | |||
| Members • John C. Pope, Chair • Lori Dickerson Fouché • Elio Leoni Sceti • Susan Mulder Meetings in | | | ||||||
| Independence The Audit Committee consists entirely of directors who are independent | | | | | ||||
| • The Board has determined that each Audit Committee member is able to read and understand fundamental financial statements • No Audit Committee member received any payments in | | |
| COMPENSATION COMMITTEE | | | | Principal Responsibilities • Oversees our strategies and policies related to key human resources policies and practices, including • • Oversees our executive compensation programs and succession planning, and reviews our compensation policies and practices for employees as they relate to risk management • Evaluates and approves our Chief Executive Officer’s goals and objectives, performance, and elements and amounts of compensation, and reviews and approves the • Approves equity and other • Assesses the compensation of non-employee directors • Reviews and considers stockholder viewpoints on compensation, including our say-on-pay voting results | | |||
| Members • João M. Castro-Neves, Chair • Alexandre Behring • Timothy Kenesey • • John C. Pope Meetings in | | | ||||||
| Independence The Compensation Committee consists entirely of directors who are independent | | | | |
| GOVERNANCE COMMITTEE | | | | Principal Responsibilities • Considers • Oversees • • Advises the Board on corporate governance matters, including developing and reviewing the Corporate Governance Guidelines • Oversees our investor engagement program and considers stockholder viewpoints on corporate governance | | |||
| Members • Alexandre Behring, Chair • João M. Castro-Neves • Susan Mulder • John C. Pope • Alexandre Van Damme Meetings in | | | ||||||
| Independence The Governance Committee consists entirely of directors who are independent | | | | |
| | | Director Compensation | | |||||||
| | | |||||||||
| | | | | | | |
| Annual Compensation | | | | Additional Cash Retainers | | Annual Compensation | | | | Additional Cash Retainers | | ||||||||||||
| | | | Chairman of the Board | | | $ | 140,000 | | | | | | | ||||||||||
| Committee Chairs: | | | | | | | | Chair of the Board | | | $ | 140,000 | | | |||||||||
| Audit | | | $ | 20,000 | | | | Lead Director | | | $ | 25,000 | | | |||||||||
| Compensation | | | $ | 20,000 | | | | Committee Chairs: | | | | | | | |||||||||
| Governance | | | $ | 10,000 | | | | Audit | | | $ | 20,000 | | | |||||||||
| Operations and Strategy | | | $ | 20,000 | | | | Compensation | | | $ | 20,000 | | | |||||||||
| If a director serves as Chair of multiple Committees, the director will only receive one additional cash retainer. Directors do not receive meeting fees. | | | Governance | | | $ | 10,000 | | | ||||||||||||||
| | Operations and Strategy* | | | $ | 20,000 | | | ||||||||||||||||
| If a director serves as Chair of multiple Committees, the director will only receive one additional cash retainer. Directors do not receive meeting fees. * The Operations and Strategy Committee was dissolved in July 2021. | |
| Position | | | Stock Ownership Requirement | | | Compliance Period | |
| Non-employee directors | | | ••••• 5x | | | 5 years from joining the Board | |
| Name | | Fees Earned or Paid in Cash(1) ($) | | Stock Awards(2) ($) | | All Other Compensation ($) | | Total ($) | | Name | | Fees Earned or Paid in Cash(1) ($) | | Stock Awards(2) ($) | | All Other Compensation ($) | | Total ($) | | ||||||||||||||||||||||||||||||||
| Gregory E. Abel | | | | 110,015 | | | | | 125,007 | | | | | — | | | | | 235,022 | | | Gregory E. Abel | | | | 110,042 | | | | | 125,005 | | | | | — | | | | | 235,047 | | | ||||||||
| Alexandre Behring | | | | 260,000 | | | | | 125,007 | | | | | — | | | | | 385,007 | | | Alexandre Behring | | | | 260,000 | | | | | 125,005 | | | | | — | | | | | 385,005 | | | ||||||||
| John T. Cahill | | | | 130,000 | | | | | 125,007 | | | | | — | | | | | 255,007 | | | John T. Cahill | | | | 120,706 | | | | | 125,005 | | | | | — | | | | | 245,711 | | | ||||||||
| João M. Castro-Neves | | | | 130,023 | | | | | 125,007 | | | | | — | | | | | 255,030 | | | João M. Castro-Neves | | | | 130,007 | | | | | 125,005 | | | | | — | | | | | 255,012 | | | ||||||||
| Tracy Britt Cool | | | | 6,951 | | | | | — | | | | | — | | | | | 6,951 | | | Lori Dickerson Fouché | | | | 71,924 | | | | | 125,005 | | | | | — | | | | | 196,929 | | | ||||||||
| Feroz Dewan | | | | 38,690 | | | | | — | | | | | — | | | | | 38,690 | | | Timothy Kenesey | | | | 110,042 | | | | | 125,005 | | | | | — | | | | | 235,047 | | | ||||||||
| Jeanne P. Jackson | | | | 38,690 | | | | | — | | | | | — | | | | | 38,690 | | | Jorge Paulo Lemann | | | | 38,420 | | | | | — | | | | | — | | | | | 38,420 | | | ||||||||
| Timothy Kenesey | | | | 103,356 | | | | | 125,007 | | | | | — | | | | | 228,363 | | | Elio Leoni Sceti | | | | 110,042 | | | | | 125,005 | | | | | — | | | | | 235,047 | | | ||||||||
| Jorge Paulo Lemann | | | | 110,015 | | | | | 125,007 | | | | | — | | | | | 235,022 | | | Susan Mulder | | | | 110,000 | | | | | 125,005 | | | | | — | | | | | 235,005 | | | ||||||||
| Elio Leoni Sceti | | | | 71,643 | | | | | 125,007 | | | | | — | | | | | 196,650 | | | John C. Pope | | | | 155,000 | | | | | 125,005 | | | | | — | | | | | 280,005 | | | ||||||||
| Susan Mulder | | | | 71,621 | | | | | 125,007 | | | | | — | | | | | 196,628 | | | Alexandre Van Damme | | | | 110,042 | | | | | 125,005 | | | | | — | | | | | 235,047 | | | ||||||||
| John C. Pope | | | | 130,000 | | | | | 125,007 | | | | | — | | | | | 255,007 | | | George Zoghbi(3) | | | | 38,379 | | | | | — | | | | | — | | | | | 38,379 | | | ||||||||
| Alexandre Van Damme | | | | 110,015 | | | | | 125,007 | | | | | — | | | | | 235,022 | | | ||||||||||||||||||||||||||||||
| George Zoghbi(3) | | | | 110,000 | | | | | 125,007 | | | | | — | | | | | 235,007 | | |
| | | Beneficial Ownership of Kraft Heinz Stock | | |||||||
| | | |||||||||
| | | | | | | | |
| Name of Beneficial Owner | | Shares Owned | | Shares Acquirable within 60 Days(1) | | Total | | Percentage of Common Stock | | Name of Beneficial Owner | | Shares Owned | | Shares Acquirable within 60 Days(1) | | Deferred Stock(2) | | Total | | Percentage of Common Stock | | ||||||||||||||||||||||||||||||||||||
| Current Directors | | | | | | | | | | | | | | | | | | | | | | Current Directors | | ||||||||||||||||||||||||||||||||||
| Gregory E. Abel | | | | 40,036 | | | | | 22,166 | | | | | 62,202 | | | | | * | | | Gregory E. Abel | | | | — | | | | | 22,166 | | | | | 47,378 | | | | | 69,544 | | | | | * | | | |||||||||
| Alexandre Behring | | | | 42,562 | | | | | 44,333 | | | | | 86,895 | | | | | * | | | Alexandre Behring | | | | 0 | | | | | 44,333 | | | | | 47,348 | | | | | 91,681 | | | | | * | | | |||||||||
| John T. Cahill | | | | 174,869 | | | | | 633,017 | | | | | 807,886 | | | | | * | | | John T. Cahill | | | | 148,321 | | | | | 633,017 | | | | | 30,345 | | | | | 811,683 | | | | | * | | | |||||||||
| João M. Castro-Neves | | | | 12,452 | | | | | — | | | | | 12,452 | | | | | * | | | João M. Castro-Neves | | | | — | | | | | — | | | | | 19,091 | | | | | 19,091 | | | | | * | | | |||||||||
| Timothy Kenesey | | | | 6,550 | | | | | — | | | | | 6,550 | | | | | * | | | Lori Dickerson Fouché | | | | — | | | | | — | | | | | 2,993 | | | | | 2,993 | | | | | * | | | |||||||||
| Jorge Paulo Lemann | | | | 3,536,539 | | | | | 22,166 | | | | | 3,558,705 | | | | | * | | | Timothy Kenesey | | | | — | | | | | — | | | | | 12,458 | | | | | 12,458 | | | | | * | | | |||||||||
| Elio Leoni Sceti(2) | | | | 94,502 | | | | | — | | | | | 94,502 | | | | | * | | | Elio Leoni Sceti(3) | | | | 90,000 | | | | | — | | | | | 10,061 | | | | | 100,061 | | | | | * | | | |||||||||
| Susan Mulder | | | | 4,502 | | | | | — | | | | | 4,502 | | | | | * | | | Susan Mulder | | | | — | | | | | — | | | | | 7,688 | | | | | 7,688 | | | | | * | | | |||||||||
| John C. Pope | | | | 39,410 | | | | | — | | | | | 39,410 | | | | | * | | | Miguel Patricio | | | | 1,230,077 | | | | | — | | | | | — | | | | | 1,230,077 | | | | | * | | | |||||||||
| Alexandre Van Damme(3) | | | | 14,124,924 | | | | | — | | | | | 14,124,924 | | | | | 1.2 | | | John C. Pope | | | | 10,098 | | | | | — | | | | | 33,560 | | | | | 43,658 | | | | | * | | | |||||||||
| George Zoghbi | | | | 113,724 | | | | | 180,799 | | | | | 294,523 | | | | | * | | | Alexandre Van Damme(4) | | | | 14,105,315 | | | | | — | | | | | 26,076 | | | | | 14,131,391 | | | | | 1.2 | | | |||||||||
| Director Nominees | | | | | | | | | | | | | | | | | | | | | | Director Nominees | | | | | | | | | | | | | | | | | | | | | | | | | | | |||||||||
| Lori Dickerson Fouché | | | | — | | | | | — | | | | | — | | | | | — | | | Alicia Knapp | | | | — | | | | | — | | | | | — | | | | | — | | | | | — | | | |||||||||
| Miguel Patricio | | | | 871,763 | | | | | — | | | | | 871,763 | | | | | * | | | James Park(5) | | | | 596 | | | | | — | | | | | — | | | | | 596 | | | | | * | | | |||||||||
| Named Executive Officers (NEOs) | | | | | | | | | | | | | | | | | | | | | | Named Executive Officers (NEOs) | | ||||||||||||||||||||||||||||||||||
| Miguel Patricio | | (see above) | | (see above) | | (see above) | | (see above) | | Miguel Patricio | | see above | | ||||||||||||||||||||||||||||||||||||||||||||
| Paulo Basilio | | | | 70,779 | | | | | 746,313 | | | | | 817,092 | | | | | * | | | Paulo Basilio | | | | 8,796 | | | | | 176,058 | | | | | — | | | | | 185,034 | | | | | * | | | |||||||||
| Carlos Abrams-Rivera | | | | 23,799 | | | | | — | | | | | 23,799 | | | | | * | | | Carlos Abrams-Rivera | | | | 131,608 | | | | | — | | | | | — | | | | | 131,608 | | | | | * | | | |||||||||
| Rafael Oliveira | | | | 56,235 | | | | | 163,936 | | | | | 220,171 | | | | | * | | | Rashida La Lande | | | | 13,057 | | | | | — | | | | | — | | | | | 13,057 | | | | | * | | | |||||||||
| Flavio Torres | | | | 9,274 | | | | | — | | | | | 9,274 | | | | | * | | | Rafael Oliveira | | | | 142,583 | | | | | 191,280 | | | | | — | | | | | 333,863 | | | | | * | | | |||||||||
| Current directors and executive officers as of March 8, 2021 as a group (19 persons) | | | | 19,221,920 | | | | | 1,812,730 | | | | | 21,034,650 | | | | | 1.7 | | | Current directors and executive officers(6) as of March 7, 2022 as a group (21 persons) | | | | 16,012,801 | | | | | 1,145,298 | | | | | 236,998 | | | | | 17,395,097 | | | | | 1.4 | | |
| Name and Address of Beneficial Owner | | Amount and Nature of Beneficial Ownership | | Percentage of Common Stock(1) | | Name and Address of Beneficial Owner | | Amount and Nature of Beneficial Ownership | | Percentage of Common Stock(1) | | ||||||||||||||||
| Berkshire Hathaway(2) 3555 Farnam Street Omaha, Nebraska 68131 | | | | 325,442,152 | | | | | 26.6% | | | Berkshire Hathaway(2) 3555 Farnam Street Omaha, Nebraska 68131 | | | | 325,442,152 | | | | | 26.6% | | | ||||
| 3G Funds(3) c/o 3G Capital Inc. 600 Third Avenue, 37th Floor New York, New York 10016 | | | | 215,859,166 | | | | | 17.7% | | | 3G Funds(3) c/o 3G Capital, Inc. 600 Third Avenue, 37th Floor New York, New York 10016 | | | | 185,262,701 | | | | | 15.1% | | |
| | | Proposal | | |||||||
| | | |||||||||
| | | | | | | | |
| | | | The Board recommends a vote FOR the approval of our NEO compensation as disclosed in this Proxy Statement. | | |
| | | Proposal 3. Advisory Vote on the Frequency of Holding an Advisory Vote to Approve Executive Compensation | | |||||||
| | | |||||||||
| | | | | | | | |
| | | | The Board recommends a vote for a ONE YEAR interval for the advisory vote on NEO compensation. | | |
| | | Compensation Discussion and Analysis | | |||||||
| | | |||||||||
| | | | | | | | |
| | | | ||
| | | | ||
| | | | ||
| 52 | | | Business Highlights | |
| 52 | | | Response to COVID-19 | |
| |||||
| | | |||
| 53 | | | Best Practices | |
| 53 | | | Total Rewards Philosophy and Core Principles | |
| 54 | | | Program Goals and Pay for Performance | |
| 55 | | | Role of Peer Groups | |
| 56 | | | Oversight of 2021 Compensation Decisions | |
| | | |||
| |||||
| | | | ||
| 58 | | | Key Changes for 2021 | |
| 58 | | | CEO Compensation | |
| 59 | | | Base Salary | |
| 59 | | | Annual Cash-Based Performance Bonus Plan (PBP) | |
| 64 | | | Bonus Swap Program | |
| 65 | | | Equity Awards | |
| | | | ||
| 66 | | | 2017 and 2018 PSU Forfeitures | |
| 67 | | | 2019 PSU Performance Conditions Certified | |
| 67 | | | 2020 PSU Performance Conditions Certified | |
| | | | ||
| |||||
| | | |||
| | | | ||
| | | | ||
| | | | ||
| | | | ||
|
| | | | | | | | |||||||||||||||||||
| Miguel Patricio | | | | | | | Carlos Abrams-Rivera | | | | Rashida La Lande | | | | Rafael Oliveira | | |||||||||
| Chief Executive Officer | | | | Executive Vice President and Global | | | | Executive Vice President and President, North America | | | | Executive Vice President, Global General Counsel, and Chief Sustainability and Corporate Affairs Officer; Corporate Secretary | | | | Executive Vice President and President, International Markets | | ||||||||
| | | | | | | |
| SALES | | | | INCOME | | | | CASH FLOW | | ||||||||||||||||||||||||||||||
| NET SALES | | | | ORGANIC NET SALES* | | | | NET INCOME | | | | ADJUSTED EBITDA* | | | | NET CASH PROVIDED BY OPERATING ACTIVITIES | | | | FREE CASH FLOW* | | ||||||||||||||||||
| $26.0B | | | | $23.7B | | | | $1.0B | | | | $6.4B | | | | $5.4B | | | | $4.5B | | ||||||||||||||||||
| | | 0.5% year- over-year decrease | | | | | | 1.8% year- over-year increase | | | | | | 183.7% year- over-year increase | | | | | | 4.5% year- over-year decrease | | | | | | 8.8% year- over-year increase | | | | | | 2.9% year- over-year increase | |
| ZONE PERFORMANCE | |
| | | IMPROVED OUR AGILITY | | | Continued to execute business investments in our strategic plan Maintained strong gross margin | | |
| | | REJUVENATED OUR ICONIC BRANDS | | | Won more than 120 marketing, product, and innovation awards Increased brand renovation projects in the United States versus 2019* Increased our advertising spend by approximately 6.5% globally versus 2019* | | |
| | | OPTIMIZED PRODUCT PORTFOLIO | | | Announced acquisitions and investments aimed at building our global Taste Elevation platform Closed divestitures designed to reduced exposure to private label and commodities Continued to take actions to expand our plant-based portfolio | | |
| | | IMPROVED FINANCIAL FLEXIBILITY | | | Reduced net leverage to 2.9x as of December 25, 2021 Increased weighted average long-term debt maturity to approximately 15 years from approximately 14 years in 2020 and approximately 13 years in 2019 | | |
| | | ADVANCED STRATEGIC TRANSFORMATION FOR THE LONG-TERM | | | Brought in talent to strengthen culture and fill in the gap for critical skill sets Strengthened data-driven product innovation and data analytics capabilities with investment in Just Spices Completed global rollout of our internal creative agency, The Kitchen | |
| | | What We Do | | | | | | | | What We Do NOT Do | | ||
| Base pay increases on merit and market alignment Maintain a clawback policy covering both cash and equity Use double-trigger change in control provisions Compensation Committee comprised of 100% independent directors Retain independent consultant for risk assessment of | | | | | | No excessive risk taking that would threaten the reputation or sustainability of Kraft Heinz No excise tax No guaranteed salary increases or bonuses No single-trigger change in control provisions No short-selling Kraft Heinz securities, transacting in puts, calls, or other derivatives on Kraft Heinz securities or hedging transactions on Kraft Heinz securities without prior approval from the Corporate Secretary No holding Kraft Heinz securities in a margin account or pledging Kraft Heinz securities as collateral for a loan without advance written notice to the Corporate Secretary | |
| | | PAY FOR PERFORMANCE | | | Two-thirds of our executive compensation is at-risk and performance-based with metrics aligned to our long-term growth strategy. Kraft Heinz performance is evaluated by: 1 Our performance, including results against short- and long-term growth targets 2 Total return to our stockholders relative to our peers | | |
| | | ALIGN WITH STOCKHOLDER INTERESTS | | | Our compensation programs are designed to align our executives’ interests with those of our stockholders. Two-thirds of our executive compensation is tied to Kraft Heinz performance. Our stock ownership guidelines strengthen alignment of our executive officers’ interests with those of our stockholders. | |
| | | DRIVE LONG-TERM PROFITABLE GROWTH | | | We are driven by our Values We dare to do better every day, We own it, and We champion great people. We reward and invest in attracting and retaining talent with the highest potential to drive sustainable, long-term growth and profitability. | | |
| | | RECOGNIZE INDIVIDUAL PERFORMANCE | | | We see non-financial performance metrics, such as our ESG targets, as critical to the long-term success of our business and reflective our external responsibility as global leaders, and we believe they add value for our stockholders and other stakeholders. Individual performance consistent with our Values and leadership skills are also taken into consideration. We recognize and reward demonstrated skills while supporting continued development. | |
| • Archer-Daniels-Midland Company • Campbell Soup Company • Colgate-Palmolive Company • Conagra Brands, Inc. • General Mills, Inc. | | | • Hormel Foods Corporation • Kellogg Company • Kimberly-Clark Corporation • Mondelēz International, Inc. • PepsiCo, Inc. | | | • The Coca-Cola Company • The Procter & Gamble Company • Tyson Foods, Inc. | |
| • Campbell Soup Company • Conagra Brands, Inc. • General Mills, Inc. • Hormel Foods Corporation | | | • J.M. Smucker Company • Kellogg Company • Mondelēz International, Inc. • PepsiCo, Inc. | | | • The Coca-Cola Company • Tyson Foods, Inc. | |
| | | | | | | | | Element | | | Performance Metric | | | Description | | | Strategy Alignment | | | Target Pay | | |||
| FIXED | | | | SHORT-TERM | | | | Base Salary | | | — | | | | | | Ongoing base cash compensation based on the executive officer’s role and responsibilities, individual job performance, experience, and market. | | | Recruitment and retention Market competitive | | | — | |
| VARIABLE | | | | Performance Bonus Plan (PBP) | | | PBP EBITDA (100%) | | | | | Annual cash incentive with actual cash payouts linked to achievement of key annual Kraft Heinz performance targets and individual performance targets. | | | Drive top-tier performance Incentivize and reward performance | | | 150-300% of annual base salary | | |||||
| LONG-TERM | | | | PSUs | | | Three-year relative TSR (100%) | | | | | Linked to achievement of long-term profitability goals and vest subject to continued employment and the achievement of relative TSR over a three-year performance period. | | | Recruitment and retention Drive top-tier performance Align with stockholders’ interests Long-term value creation Incentivize achievement of specific performance goals and long-term strategy Drive long-term profitable growth | | | 40% of annual award target | | |||||
| RSUs | | | — | | | | | | Vest based upon continued employment and may be awarded on an annual basis, a standalone basis for merit/retention, or under our Bonus Swap Program as Matching RSUs. | | | Recruitment and retention Drive top-tier performance Align with stockholders’ interests Long-term value creation | | | 40% of annual award target | | ||||||||
| Stock Options | | | We view stock options to be performance-based as their value is tied to Kraft Heinz performance and our stock price. | | | Generally vest in full after three years based on continued employment. | | | Recruitment and retention Drive top-tier performance Align with stockholders’ interests Link realized value entirely to stock appreciation Drive long-term profitable growth | | | 20% of annual award target | |
| | | Increased percentage of PSUs in annual and merit/retention long-term incentive awards | | | | | | Enhanced vesting schedules to align with longer-term focus of long-term incentive plans | | ||||||||
| Annual Awards: Changed to 40% PSUs, 40% RSUs, and 20% Stock Options from 100% RSUs | | | Merit/Retention Awards: Changed to 60% PSUs and 40% RSUs from 50% PSUs and 50% RSUs | | | | Annual Awards: Changed to 100% on third anniversary from 50% vesting on second anniversary and 50% on third anniversary | | | Merit/Retention Awards: Changed to 75% on third anniversary and 25% on fourth anniversary from 50% vesting on second anniversary, 25% on third anniversary, and 25% on fourth anniversary | | ||||||
| | | Added three-year performance period | | | | | | Introduced relative TSR as a performance metric | | ||||||||
| Annual Awards: PSUs added in the annual award mix, with three-year performance period | | | Merit/Retention Awards: Changed to three-year performance period from two-year performance period | | | | Annual Awards: PSUs added in the annual award mix, with three-year relative TSR performance metric | | | Merit/Retention Awards: Changed performance metric to three-year relative TSR | |
Base Salary | ||||||||||||
| | | Base Salary ($) | | ||||
| Mr. Patricio | | | | | 1,000,000 | | |
| Mr. Basilio | | | | | 750,000 | | |
| Mr. Abrams-Rivera | | | | | 800,000 | | |
| Ms. La Lande | | | | | 650,000 | | |
| Mr. Oliveira | | | | | |||
| |
| | | Target Award Opportunity | | ||||
| Mr. Patricio | | | | | 300% | | |
| Mr. Basilio | | | | | 250% | | |
| Mr. Abrams-Rivera | | | | | 200% | | |
| Ms. La Lande | | | | | 150% | | |
| Mr. Oliveira | | | | | 225% | | |
| | | Global PBP EBITDA ($ millions) | | Financial Multiplier (%) | | | | Global PBP EBITDA ($ millions) | | Financial Multiplier (%) | | ||||||||||||||||
| Threshold | | | | 5,400 | | | | | 50 | | | Threshold | | | | 5,904 | | | | | 50 | | | ||||
| Target | | | | 5,700 | | | | | 100 | | | Target | | | | 6,300 | | | | | 100 | | | ||||
| Maximum | | | | 5,940 | | | | | 120 | | | Maximum | | | | 6,579 | | | | | 120 | | | ||||
| Achieved | | | | 6,797 | | | | | 120 | | | Achieved | | | | 6,277 | | | | | 94 | | |
| | | U.S. Zone PBP EBITDA ($ millions) | | Financial Multiplier (%) | | | | U.S. Zone PBP EBITDA ($ millions) | | Financial Multiplier (%) | | ||||||||||||||||
| Target | | | | 4,603 | | | | | 100 | | | Threshold | | | | 4,868 | | | | | 50 | | | ||||
| Achieved | | | | 5,646 | | | | | 120 | | | Target | | | | 5,156 | | | | | 100 | | | ||||
| Maximum | | | | 5,349 | | | | | 120 | | | ||||||||||||||||
| Achieved | | | | 5,157 | | | | | 100 | | |
| | | International Zone PBP EBITDA ($ millions) | | Financial Multiplier (%) | | | | International Zone PBP EBITDA (in $ millions) | | Financial Multiplier (%) | | ||||||||||||||||
| Target | | | | 1,021 | | | | | 100 | | | Threshold | | | | 938 | | | | | 50 | | | ||||
| Achieved | | | | 1,054* | | | | | 120 | | | Target | | | | 1,018 | | | | | 100 | | | ||||
| Maximum | | | | 1,068 | | | | | 120 | | | ||||||||||||||||
| Achieved | | | | 1,002 | | | | | 95* | | |
| NEO | | | MBO Goals | | | Evaluation Criteria | | | Weight (%) | | | Individual Performance Score | | |||
| Mr. Patricio | | | • Deliver Kraft Heinz Financial Results | | | o Achievement in global Organic Net Sales | | | | | 30 | | | | 102% | |
| o Achievement in global cash conversion | | | | | 20 | | | |||||||||
| • Deliver New Projects to Improve the Business | | | o Progress on U.S. digital revolution | | | | | 15 | | | ||||||
| o Progress on global portfolio transformation | | | | | 10 | | | |||||||||
| o Progress on global ESG goals | | | | | 10 | | | |||||||||
| • Attract and Retain Kraft Heinz Talent | | | o Improvement in global engagement score and reduction in global turnover | | | | | 15 | | | ||||||
| Mr. Basilio | | | • Deliver Kraft Heinz Financial Results | | | o Achievement in global cash conversion | | | | | 20 | | | | 90% | |
| o Achievement in global adjusted net income | | | | | 20 | | | |||||||||
| • Increase Kraft Heinz’s Financial Efficiency | | | o Progress on portfolio and capital structure objectives | | | | | 20 | | | ||||||
| o Progress on finance transformation | | | | | 15 | | | |||||||||
| o Achievement of compliance and internal controls objectives | | | | | 10 | | | |||||||||
| • Attract and Retain Kraft Heinz Talent | | | o Improvement in global finance engagement score and reduction in global finance turnover | | | | | 15 | | | ||||||
| Mr. Abrams-Rivera | | | • Deliver Kraft Heinz U.S. Financial Results | | | o Achievement in U.S. zone Organic Net Sales | | | | | 20 | | | | 84% | |
| o Achievement in U.S. zone cash conversion | | | | | 15 | | | |||||||||
| o Achievement on service levels in on-time, in-full performance | | | | | 10 | | | |||||||||
| • Deliver New Projects to Improve the Business | | | o Progress on U.S. digital revolution | | | | | 20 | | | ||||||
| o Progress on U.S. portfolio transformation | | | | | 20 | | | |||||||||
| • Attract and Retain Kraft Heinz Talent | | | o Improvement in U.S. zone engagement score and reduction in U.S. zone turnover | | | | | 15 | | | ||||||
| Ms. La Lande | | | • Deliver Effective and Efficient Legal Services | | | o Success on key legal matters | | | | | 20 | | | | 95% | |
| o Achievement of special projects targets | | | | | 20 | | | |||||||||
| o Achievement of zero-based budget targets | | | | | 10 | | | |||||||||
| • Protect and Promote the Company and its Brands | | | o Progress on ESG and The Kraft Heinz Foundation goals | | | | | 20 | | | ||||||
| o Achievement of ethics and compliance targets | | | | | 20 | | | |||||||||
| • Attract and Retain Kraft Heinz Talent | | | o Improvement in global legal engagement score and reduction in global legal turnover | | | | | 10 | | |
| NEO | | | ||||||||||||||
MBO Goals | | | | | Weight (%) | | | Performance Score | | ||||||||
| Mr. Oliveira | | | • Deliver Kraft Heinz International Financial Results | | | o Achievement in International zone Organic Net Sales o Progress on annual operating plan for key emerging market countries o Progress on portfolio transformation o Achievement in market share value | | | | | 25 25 15 10 | | | | 94% | |
| • Deliver New Projects to Improve the Business | | | | | | | | | | |||||||
| • Attract and Retain Kraft Heinz Talent | | | | | | | | | |
| | | Base Salary for PBP Payout ($) | | Target Award Opportunity (%) | | Financial Multiplier (%) | | Individual Performance Score (%) | | PBP Payout Earned ($) | | Name | | Base Salary for PBP Calculation ($) | | Target Award Opportunity (%) | | Financial Multiplier (%) | | Individual Performance Score (%) | | PBP Payout Earned ($) | | ||||||||||||||||||||||||||||||||||||||||
| Mr. Patricio | | | | 1,000,000 | | | | | 300 | | | | | 120 | | | | | 104.00 | | | | | | 3,744,000 | | | Mr. Patricio | | | | 1,000,000 | | | | | 300 | | | | | 94 | | | | | 102 | | | | | | 2,875,193 | | | ||||||||
| Mr. Basilio | | | | 750,000 | | | | | 250 | | | | | 120 | | | | | 96.25 | | | | | | 2,165,625 | | | Mr. Basilio | | | | 750,000 | | | | | 250 | | | | | 94 | | | | | 90 | | | | | 1,582,917 | | | |||||||||
| Mr. Abrams-Rivera | | | | 733,333 | | | | | 200 | | | | | 120 | | | | | 107.00 | | | | | | 2,165,680(a) | | | Mr. Abrams-Rivera | | | | 800,000 | | | | | 200 | | | | | 98 | | | | | 84 | | | | | | 1,312,407 | | | ||||||||
| Mr. Oliveira(b) | | | | 712,500 | | | | | 225 | | | | | 120 | | | | | 103.30 | | | | | | 1,989,892 | | | Ms. La Lande | | | | 650,000 | | | | | 150 | | | | | 94 | | | | | 95 | | | | | 1,041,920(a) | | | |||||||||
| Mr. Torres(b) | | | | 435,250 | | | | | 175 | | | | | 120 | | | | | 100.00 | | | | | | 913,719 | | | Mr. Oliveira(b) | | | | 780,100 | | | | | 225 | | | | | 95 | | | | | 94 | | | | | | 1,742,725(c) | | |
| Name | | Investment Amount ($) | | Investment Shares (#) | | Matching RSUs (#) | | Name | | Investment Amount ($) | | Investment Shares (#) | | Matching RSUs (#) | | ||||||||||||||||||||||||
| Mr. Patricio | | | | 108,242 | | | | | 4,152 | | | | | 13,839 | | | Mr. Patricio | | | | 1,123,200 | | | | | 30,284 | | | | | 100,943 | | | ||||||
| Mr. Basilio | | | | 234,004 | | | | | 8,976 | | | | | 44,879 | | | Mr. Abrams-Rivera | | | | 454,793 | | | | | 12,262 | | | | | 40,872 | | | ||||||
| Mr. Oliveira | | | | 107,877 | | | | | 4,138 | | | | | 22,567 | | | Mr. Oliveira | | | | 426,631 | | | | | 11,503 | | | | | 41,827 | | |
| Name | | | Annual PSU Award Target ($) | | | Annual RSU Award Target ($) | | | Annual Stock Option Award Target ($) | | | Total Annual Award Target ($) | | ||||||||||||
| Mr. Patricio | | | | | — | | | | | | — | | | | | | — | | | | | | — | | |
| Mr. Basilio | | | | | 375,000 | | | | | | 375,000 | | | | | | 187,500 | | | | | | 937,500 | | |
| Mr. Abrams-Rivera | | | | | 400,000 | | | | | | 400,000 | | | | | | 200,000 | | | | | | 1,000,000 | | |
| Ms. La Lande | | | | | 260,000 | | | | | | 260,000 | | | | | | 130,000 | | | | | | 650,000 | | |
| Mr. Oliveira | | | | | 381,300 | | | | | | 381,300 | | | | | | 190,700 | | | | | | 953,300 | | |
| Name | | | Merit/Retention PSU Award Target ($) | | | Merit/Retention RSU Award Target ($) | | | Total Merit/Retention Award Target ($) | | |||||||||
| Mr. Patricio | | | | | — | | | | | | — | | | | | | | | |
| Mr. Basilio | | | | | 900,000 | | | | | | 600,000 | | | | | | 1,500,000 | | |
| Mr. Abrams-Rivera | | | | | 1,500,000 | | | | | | 1,000,000 | | | | | | 2,500,000 | | |
| Ms. La Lande | | | | | 600,000 | | | | | | 400,000 | | | | | | 1,000,000 | | |
| Mr. Oliveira | | | | | 600,000 | | | | | | 400,000 | | | | | | 1,000,000 | | |
| Portion of Award | | | Performance Period | | | Performance Indicator | | | Target | | | Actual | | | Achievement Score | | |||
| By Indicator | | | Total | | |||||||||||||||
| 50% | | | July 2019 to June 2020 | | | 65% PBP EBITDA | | | $5.700 billion | | | $6.242 billion | | | 100.0% | | | 100% | |
| | | | | | | 35% cash conversion | | | 70% | | | 88% | | | 100.0% | | |||
| 50% | | | July 2020 to June 2021 | | | 65% PBP EBITDA | | | $5.700 billion | | | $6.664 billion | | | 100.0% | | | 100% | |
| | | | | | | 35% cash conversion | | | 70% | | | 79% | | | 100.0% | |
| Portion of Award | | | Performance Period | | | Performance Indicator | | | Target | | | Actual | | | Achievement Score | | |||
| By Indicator | | | Total | | |||||||||||||||
| 50% | | | Fiscal year ended December 25, 2021 | | | 80% PBP EBITDA | | | $6.335 billion | | | $6.277 billion | | | 90.1% | | | 92.1% | |
| Two fiscal years ended December 25, 2021 | | | 20% cash conversion | | | 70% | | | 83% | | | 100.0% | |
| Role | | | Minimum Ownership | | | Compliance Period | | ||||||
| CEO | | | | | 5x Base Salary | | | 5 years from appointment to a position subject to the guidelines | | ||||
| Other NEOs | | | ••• | | | 3x Base Salary | |
| | | Executive Compensation Tables | | |||||||
| | | |||||||||
| | | | | | | | |
| Name and Principal Position | | Year | | Salary ($) | | Bonus(1) ($) | | Stock Awards(2)(3) ($) | | Option Awards ($) | | Non-Equity Incentive Plan Compensation(4) ($) | | Change in Pension Value and Nonqualified Deferred Compensation Earnings ($) | | All Other Compensation(5) ($) | | Total Compensation ($) | | Name and Principal Position | | Year | | Salary ($) | | Bonus ($) | | Stock Awards(1) ($) | | Option Awards ($) | | Non-Equity Incentive Plan Compensation(2) ($) | | Change in Pension Value and Nonqualified Deferred Compensation Earnings ($) | | All Other Compensation(3) ($) | | Total Compensation ($) | | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Miguel Patricio Chief Executive Officer | | | | | 2020 | | | | | 1,000,000 | | | | | — | | | | | 360,783 | | | | | — | | | | | 3,744,000 | | | | | — | | | | | 1,035,348 | | | | | 6,140,131 | | | Miguel Patricio Chief Executive Officer | | | | | 2021 | | | | | 1,000,000 | | | | | — | | | | | 3,743,976 | | | | | — | | | | | 2,875,193 | | | | | — | | | | | 986,430 | | | | | 8,605,599 | | | ||||||||||||||||
| | | 2019 | | | | | 500,000 | | | | | 1,000,000 | | | | | 40,746,195 | | | | | — | | | | | 360,807 | | | | | — | | | | | 690,478 | | | | | 43,297,480 | | | | | | 2020 | | | | | 1,000,000 | | | | | — | | | | | 360,783 | | | | | — | | | | | 3,744,000 | | | | | — | | | | | 1,035,348 | | | | | 6,140,131 | | | |||||||||||||||||||||
| Paulo Basilio Global Chief Financial Officer | | | | | 2020 | | | | | 750,000 | | | | | 750,000 | | | | | 2,107,510 | | | | | — | | | | | 2,165,625 | | | | | — | | | | | 622,817 | | | | | 6,395,952 | | | | | | 2019 | | | | | 500,000 | | | | | 1,000,000 | | | | | 40,746,195 | | | | | — | | | | | 360,807 | | | | | — | | | | | 690,478 | | | | | 43,297,480 | | | ||||||||||||||||||
| | | 2019 | | | | | 750,000 | | | | | — | | | | | 13,556,182 | | | | | — | | | | | 780,000 | | | | | — | | | | | 283,212 | | | | | 15,369,394 | | | Paulo Basilio Executive Vice President and Global Chief Financial Officer *Strategic Advisor as of March 2, 2022 | | | | | 2021 | | | | | 750,000 | | | | | — | | | | | 2,778,450 | | | | | 33,673 | | | | | 1,582,917 | | | | | — | | | | | 583,944 | | | | | 5,728,984 | | | |||||||||||||||||||
| | | 2018 | | | | | 750,000 | | | | | — | | | | | 16,989,123 | | | | | — | | | | | 1,023,000 | | | | | — | | | | | 83,699 | | | | | 18,845,822 | | | | | | 2020 | | | | | 750,000 | | | | | 750,000 | | | | | 2,107,510 | | | | | — | | | | | 2,165,625 | | | | | — | | | | | 622,817 | | | | | 6,395,952 | | | |||||||||||||||||||||
| Carlos Abrams-Rivera U.S. Zone President *started February 2, 2020 | | | | 2020 | | | | | 723,077 | | | | | 1,000,000 | | | | | 10,326,872 | | | | | 382,151 | | | | | 2,165,680 | | | | | — | | | | | 427,331 | | | | | 15,025,111 | | | | | | 2019 | | | | | 750,000 | | | | | — | | | | | 13,556,182 | | | | | — | | | | | 780,000 | | | | | — | | | | | 283,212 | | | | | 15,369,394 | | | |||||||||||||||||||
| Rafael Oliveira International Zone President(6) | | | | | 2020 | | | | | 734,572 | | | | | 587,516 | | | | | 3,473,873 | | | | | — | | | | | 1,989,892 | | | | | — | | | | | 556,372 | | | | | 7,342,225 | | | Carlos Abrams-Rivera Executive Vice President and President, North America | | | | | 2021 | | | | | 800,000 | | | | | — | | | | | 5,600,717 | | | | | 35,917 | | | | | 1,312,407 | | | | | — | | | | | 616,217 | | | | | 8,365,258 | | | ||||||||||||||||
| | | 2019 | | | | | 611,467 | | | | | — | | | | | 9,836,855 | | | | | — | | | | | 389,401 | | | | | — | | | | | 251,917 | | | | | 11,089,640 | | | | | | 2020 | | | | | 723,077 | | | | | 1,000,000 | | | | | 10,326,872 | | | | | 382,151 | | | | | 2,165,680 | | | | | — | | | | | 427,331 | | | | | 15,025,111 | | | |||||||||||||||||||||
| | | 2018 | | | | | 560,101 | | | | | — | | | | | 8,937,536 | | | | | — | | | | | 733,854 | | | | | — | | | | | 101,918 | | | | | 10,333,408 | | | Rashida La Lande Executive Vice President, Global General Counsel, and Chief Sustainability and Corporate Affairs Officer; Corporate Secretary | | | | | 2021 | | | | | 650,000 | | | | | — | | | | | 1,876,533 | | | | | 23,343 | | | | | 1,041,920 | | | | | — | | | | | 396,782 | | | | | 3,988,578 | | | |||||||||||||||||||
| Flavio Torres Head of Global Operations(7) *started January 1, 2020 | | | | 2020 | | | | | 328,611 | | | | | 92,593 | | | | | 6,437,638 | | | | | — | | | | | 913,719 | | | | | — | | | | | 105,450 | | | | | 7,878,011 | | | | | | 2020 | | | | | 650,000 | | | | | 650,000 | | | | | 2,612,592 | | | | | — | | | | | 1,146,600 | | | | | — | | | | | 444,630 | | | | | 5,503,822 | | | |||||||||||||||||||
| | | | 2019 | | | | | 650,000 | | | | | — | | | | | 5,907,815 | | | | | — | | | | | 590,000 | | | | | — | | | | | 233,925 | | | | | 7,381,740 | | | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Rafael Oliveira Executive Vice President and President, International Markets(4) | | | | | 2021 | | | | | 790,411 | | | | | — | | | | | 3,722,360 | | | | | 34,239 | | | | | 1,742,725 | | | | | — | | | | | 665,752 | | | | | 6,955,487 | | | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| | | 2020 | | | | | 734,572 | | | | | 587,516 | | | | | 3,473,873 | | | | | — | | | | | 1,989,892 | | | | | — | | | | | 556,372 | | | | | 7,342,225 | | | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| | | | 2019 | | | | | 611,467 | | | | | — | | | | | 9,836,855 | | | | | — | | | | | 389,401 | | | | | — | | | | | 251,917 | | | | | 11,089,640 | | |
| Name | | Matching Contribution to Kraft Heinz 401(k) ($) | | Dividend Equivalents Accrued on all Dividend Eligible RSUs ($) | | Basic Life Insurance Coverage ($) | | Relocation Expenses ($) | | Tax Support and Payments ($) | | Total ($) | | Name | | Matching Contribution to Kraft Heinz 401(k) ($) | | DEUs Accrued on All Dividend Eligible RSUs ($) | | Basic Life Insurance Coverage ($) | | Housing Stipend and Expenses ($) | | Commuting Expenses ($) | | Tax Support and Payments ($) | | Total ($) | | ||||||||||||||||||||||||||||||||||||||||||||||||||||
| Mr. Patricio | | | | 19,950 | | | | | 1,013,982 | | | | | 1,416 | | | | | — | | | | | — | | | | | 1,035,348 | | | Mr. Patricio | | | | 20,300 | | | | | 964,714 | | | | | 1,416 | | | | | — | | | | | — | | | | | — | | | | | 986,430 | | | |||||||||||||
| Mr. Basilio | | | | 19,950 | | | | | 601,805 | | | | | 1,062 | | | | | — | | | | | — | | | | | 622,817 | | | Mr. Basilio | | | | 20,300 | | | | | 562,582 | | | | | 1,062 | | | | | — | | | | | — | | | | | — | | | | | 583,944 | | | |||||||||||||
| Mr. Abrams-Rivera | | | | 19,950 | | | | | 340,217 | | | | | 1,038 | | | | | 66,126(b) | | | | | — | | | | | 427,331 | | | Mr. Abrams-Rivera | | | | 16,536 | | | | | 511,660 | | | | | 1,133 | | | | | 77,993(a) | | | | | 8,895 | | | | | — | | | | | 616,217 | | | |||||||||||||
| Mr. Oliveira | | | | 51,982(a) | | | | | 488,747 | | | | | 13,168 | | | | | — | | | | | 2,475 | | | | | 556,372 | | | Ms. La Lande | | | | 4,000 | | | | | 282,791 | | | | | 920 | | | | | 109,071(b) | | | | | — | | | | | | | | | | 396,782 | | | |||||||||||||
| Mr. Torres | | | | — | | | | | 93,988 | | | | | 3,137 | | | | | — | | | | | 8,325 | | | | | 105,450 | | | Mr. Oliveira | | | | 55,329(c) | | | | | 558,385 | | | | | 14,016 | | | | | — | | | | | — | | | | | 38,022 | | | | | 665,752 | | |
| | | | | | | Estimated Future Payouts Under Non-Equity Incentive Plan Awards | | Estimated Future Payouts Under Equity Incentive Plan Awards | | | All Other Stock Awards: Number of Shares of Stock or Units (#) | | All Other Option Awards: Number of Securities Underlying Options (#) | | Exercise Price of Option Awards ($/Share) | | Grant Date Fair Value of Stock and Option Awards ($) | | | | | | | | Estimated Future Payouts Under Non-Equity Incentive Plan Awards | | Estimated Future Payouts Under Equity Incentive Plan Awards | | | All Other Stock Awards: Number of Shares of Stock or Units (#) | | All Other Option Awards: Number of Securities Underlying Options (#) | | Exercise Price of Option Awards ($/Share) | | Grant Date Fair Value of Stock and Option Awards ($) | | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Name | | Grant Date | | Grant Type | | Threshold ($) | | Target ($) | | Maximum ($) | | Threshold (#) | | Target (#) | | Maximum (#) | | Name | | Grant Date | | Grant Type | | Threshold ($) | | Target ($) | | Maximum ($) | | Threshold ($) | | Target ($) | | Maximum ($) | | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Mr. Patricio | | | | | PBP(1) | | | | 105,000 | | | | | 3,000,000 | | | | | 4,140,000 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Mr. Patricio | | | | | PBP(1) | | | | 105,000 | | | | | 3,000,000 | | | | | 4,140,000 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | ||||||||||||||||||||||
| 3/2/2020 | | Matching RSUs | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | 13,839 | | | | | | | | | | | | | | | 360,783 | | | | 3/1/2021 | | Matching RSUs | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | 100,943 | | | | | | | | | | | | | | | 3,743,976 | | | |||||||||||||||||||||||||||
| Mr. Basilio | | | | | PBP(1) | | | | 65,625 | | | | | 1,875,000 | | | | | 2,587,500 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Mr. Basilio | | | | | PBP(1) | | | | 65,625 | | | | | 1,875,000 | | | | | 2,587,500 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | ||||||||||||||||||||||
| 3/2/2020 | | Matching RSUs | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | 44,879 | | | | | | | | | | | | | | | 1,169,996 | | | | 3/1/2021 | | PSUs(4) (annual) | | | | | | | | | | | | | | | | | | | 5,056 | | | | | 10,111 | | | | | 15,167 | | | | | | | | | | | | | | | | | | | | 356,615 | | | |||||||||||||||||||||||||||
| 6/1/2020 | | RSUs (annual) | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | 30,819 | | | | | | | | | | | | | | | 937,514 | | | | 3/1/2021 | | PSUs(4) (merit/ retention) | | | | | | | | | | | | | | | | | | | 12,133 | | | | | 24,266 | | | | | 36,399 | | | | | | | | | | | | | | | | | | | | 845,670 | | | |||||||||||||||||||||||||||
| Mr. Abrams- Rivera | | | | | PBP(2) | | | | 15,400 | | | | | 1,466,666 | | | | | 2,023,999 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | 3/1/2021 | | Options (annual) | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | 5,056 | | | | | 37.09 | | | | | 33,673 | | | ||||||||||||||||||||||||
| 3/2/2020 | | RSUs (new hire) | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | 191,792 | | | | | | | | | | | | | | | 5,000,017 | | | | 3/1/2021 | | RSUs (annual) | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | 10,111 | | | | | | | | | | | | | | | 375,017 | | | |||||||||||||||||||||||||||
| 3/2/2020 | | PSUs (new hire) | | | | | | | | | | | | | | | | | | | 95,896 | | | | | 191,792 | | | | | 191,792 | | | | | | | | | | | | | | | | | | | | 4,326,828 | | | | 3/1/2021 | | RSUs (merit/ retention) | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | 16,177 | | | | | | | | | | | | | | | 600,005 | | | |||||||||||||||||||||||||||
| 6/1/2020 | | Options (new hire) | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | 82,183 | | | | | 30.42 | | | | | 382,151 | | | Mr. Abrams-Rivera | | | | | PBP(2) | | | | 16,800 | | | | | 1,600,000 | | | | | 2,208,000 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |||||||||||||||||||||||||
| 6/1/2020 | | RSUs (annual) | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | 32,874 | | | | | | | | | | | | | | | 1,000,027 | | | | 3/1/2021 | | Matching RSUs | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | 40,872 | | | | | | | | | | | | | | | 1,515,942 | | | |||||||||||||||||||||||||||
| Mr. Oliveira | | | | | PBP(3) | | | | 16,833 | | | | | 1,603,125 | | | | | 2,212,313 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | 3/1/2021 | | PSUs(4) (annual) | | | | | | | | | | | | | | | | | | | 5,393 | | | | | 10,785 | | | | | 16,178 | | | | | | | | | | | | | | | | | | | | 380,387 | | | ||||||||||||||||||||||||
| 3/2/2020 | | Matching RSUs | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | 22,567 | | | | | | | | | | | | | | | 588,322 | | | | 3/1/2021 | | PSUs(4) (merit/ retention) | | | | | | | | | | | | | | | | | | | 20,222 | | | | | 40,443 | | | | | 60,665 | | | | | | | | | | | | | | | | | | | | 1,409,439 | | | |||||||||||||||||||||||||||
| 6/1/2020 | | RSUs (annual) | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | 30,341 | | | | | | | | | | | | | | | 922,973 | | | | 3/1/2021 | | Options (annual) | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | 5,393 | | | | | 37.09 | | | | | 35,917 | | | |||||||||||||||||||||||||||
| 6/1/2020 | | RSUs (merit/ retention) | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | 32,874 | | | | | | | | | | | | | | | 1,000,027 | | | | 3/1/2021 | | RSUs (annual) | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | 10,785 | | | | | | | | | | | | | | | 400,016 | | | |||||||||||||||||||||||||||
| 6/1/2020 | | PSUs(4) (merit/ retention) | | | | | | | | | | | | | | | | | | | 16,437 | | | | | 32,874 | | | | | 32,874 | | | | | | | | | | | | | | | | | | | | 962,551 | | | | 3/1/2021 | | RSUs (merit/ retention) | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | 26,962 | | | | | | | | | | | | | | | 1,000,021 | | | |||||||||||||||||||||||||||
| Mr. Torres | | | | | PBP(1) | | | | 26,659 | | | | | 761,688 | | | | | 1,051,129 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Ms. La Lande | | | | | PBP(1) | | | | 73,125 | | | | | 975,000 | | | | | 1,345,500 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | ||||||||||||||||||||||
| 6/1/2020 | | RSUs (annual) | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | 18,081 | | | | | | | | | | | | | | | 550,024 | | | | 3/1/2021 | | PSUs (4) (annual) | | | | | | | | | | | | | | | | | | | 3,505 | | | | | 7,010 | | | | | 10,515 | | | | | | | | | | | | | | | | | | | | 247,243 | | | |||||||||||||||||||||||||||
| 6/1/2020 | | RSUs (new hire) | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | 98,620 | | | | | | | | | | | | | | | 3,000,020 | | | | 3/1/2021 | | PSUs(4) (merit/ retention) | | | | | | | | | | | | | | | | | | | 8,089 | | | | | 16,177 | | | | | 24,266 | | | | | | | | | | | | | | | | | | | | 563,768 | | | |||||||||||||||||||||||||||
| 6/1/2020 | | PSUs(4) (new hire) | | | | | | | | | | | | | | | | | | | 49,310 | | | | | 98,620 | | | | | 98,620 | | | | | | | | | | | | | | | | | | | | 2,887,594 | | | | 3/1/2021 | | Options (annual) | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | 3,505 | | | | | 37.09 | | | | | 23,343 | | | |||||||||||||||||||||||||||
| | 3/1/2021 | | RSUs (annual) | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | 7,010 | | | | | | | | | | | | | | | 260,001 | | | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| 3/1/2021 | | RSUs (merit/ retention) | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | 10,785 | | | | | | | | | | | | | | | 400,016 | | | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Mr. Oliveira | | | | | PBP(3) | | | | 18,673 | | | | | 1,778,425 | | | | | 2,454,226 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| 3/1/2021 | | Matching RSUs | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | 41,827 | | | | | | | | | | | | | | | 1,551,363 | | | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| 3/1/2021 | | PSUs(4) (annual) | | | | | | | | | | | | | | | | | | | 5,141 | | | | | 10,282 | | | | | 15,423 | | | | | | | | | | | | | | | | | | | | 362,646 | | | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| 3/1/2021 | | PSUs(4) (merit/ retention) | | | | | | | | | | | | | | | | | | | 8,089 | | | | | 16,177 | | | | | 24,266 | | | | | | | | | | | | | | | | | | | | 563,768 | | | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| | 3/1/2021 | | Options (annual) | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | 5,141 | | | | | 37.09 | | | | | 34,239 | | | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| 3/1/2021 | | RSUs (annual) | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | 10,282 | | | | | | | | | | | | | | | 381,359 | | | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| 3/1/2021 | | RSUs (merit/ retention) | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | 10,785 | | | | | | | | | | | | | | | 400,016 | | |
| | | | | | | | | | Option Awards | | | Stock Awards | | ||||||||||||||||||||||||||||||||||||||||||
| Name | | | Grant Date | | | Grant Type | | | Number of Securities Underlying Unexercised Options Exercisable (#) | | | Number of Securities Underlying Unexercised Options Unexercisable (#) | | | Option Exercise Price ($) | | | Option Expiration Date | | | Number of Shares or Units of Stock That Have Not Vested (#) | | | Market Value of Shares or Units of Stock That Have Not Vested(1) ($) | | | Equity Incentive Plan Awards: Number of Unearned Shares, Units or Other Rights That Have Not Vested (#) | | | Equity Incentive Plan Awards: Market or Payout Value of Unearned Shares, Units or Other Rights That Have Not Vested(1) ($) | | ||||||||||||||||||||||||
| Mr. Patricio | | | 3/1/2021 | | | Matching RSUs | | | | | | | | | | | | | | | | | | | | | | | | | | | | | 105,258(2) | | | | | | 3,710,345 | | | | | | | | | | | | | | |
| 3/2/2020 | | | Matching RSUs | | | | | | | | | | | | | | | | | | | | | | | | | | | | | 15,235(2) | | | | | | 537,034 | | | | | | | | | | | | | | | |||
| 8/16/2019 | | | PSUs | | | | | | | | | | | | | | | | | | | | | | | | | | | | | 333,564(3) | | | | | | 11,758,131 | | | | | | | | | | | | | | | |||
| 8/16/2019 | | | PSUs | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | 200,000(4) | | | | | | 7,050,000 | | | |||
| 8/16/2019 | | | RSUs | | | | | | | | | | | | | | | | | | | | | | | | | | | | | 333,564(5) | | | | | | 11,758,131 | | | | | | | | | | | | | | | |||
| Mr. Basilio | | | 3/1/2021 | | | PSUs | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | 10,111(6) | | | | | | 356,413 | | |
| 3/1/2021 | | | PSUs | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | 24,266(7) | | | | | | 855,377 | | | |||
| 3/1/2021 | | | RSUs | | | | | | | | | | | | | | | | | | | | | | | | | | | | | 10,543(8) | | | | | | 371,641 | | | | | | | | | | | | | | | |||
| 3/1/2021 | | | RSUs | | | | | | | | | | | | | | | | | | | | | | | | | | | | | 16,868(9) | | | | | | 594,597 | | | | | | | | | | | | | | | |||
| 3/1/2021 | | | Stock Options | | | | | | | | | | | 5,056(10) | | | | | | 37.09 | | | | | | 3/1/2031 | | | | | | | | | | | | | | | | | | | | | | | | | | | |||
| 6/1/2020 | | | RSUs | | | | | | | | | | | | | | | | | | | | | | | | | | | | | 32,952(11) | | | | | | 1,161,558 | | | | | | | | | | | | | | | |||
| 3/2/2020 | | | Matching RSUs | | | | | | | | | | | | | | | | | | | | | | | | | | | | | 49,408(2) | | | | | | 1,741,632 | | | | | | | | | | | | | | | |||
| 8/16/2019 | | | PSUs | | | | | | | | | | | | | | | | | | | | | | | | | | | | | 118,964(3) | | | | | | 4,161,756 | | | | | | | | | | | | | | | |||
| 8/16/2019 | | | RSUs | | | | | | | | | | | | | | | | | | | | | | | | | | | | | 20,846(12) | | | | | | 734,822 | | | | | | | | | | | | | | | |||
| 8/16/2019 | | | RSUs | | | | | | | | | | | | | | | | | | | | | | | | | | | �� | | 133,432(5) | | | | | | 4,703,161 | | | | | | | | | | | | | | | |||
| 3/1/2018 | | | RSUs | | | | | | | | | | | | | | | | | | | | | | | | | | | | | 74,700(13) | | | | | | 2,633,175 | | | | | | | | | | | | | | | |||
| 3/1/2017 | | | Matching RSUs | | | | | | | | | | | | | | | | | | | | | | | | | | | | | 20,452(2) | | | | | | 720,933 | | | | | | | | | | | | | | | |||
| 8/20/2015 | | | Stock Options | | | | | 134,681 | | | | | | | | | | | | 74.25 | | | | | | 8/20/2025 | | | | | | | | | | | | | | | | | | | | | | | | | | | |||
| 2/12/2015 | | | Matching Options | | | | | 41,377(14) | | | | | | | | | | | | 30.46 | | | | | | 2/12/2025 | | | | | | | | | | | | | | | | | | | | | | | | | | | |||
| 2/14/2014 | | | Matching Options | | | | | 38,257(14) | | | | | | | | | | | | 22.56 | | | | | | 2/14/2024 | | | | | | | | | | | | | | | | | | | | | | | | | | | |||
| 10/16/2013 | | | Stock Options | | | | | 531,998(14) | | | | | | | | | | | | 22.56 | | | | | | 7/1/2023 | | | | | | | | | | | | | | | | | | | | | | | | | | | |||
| Mr. Abrams-Rivera | | | 3/1/2021 | | | Matching RSUs | | | | | | | | | | | | | | | | | | | | | | | | | | | | | 42,619(2) | | | | | | 1,502,320 | | | | | | | | | | | | | | |
| 3/1/2021 | | | PSUs | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | 10,785(6) | | | | | | 380,171 | | | |||
| 3/1/2021 | | | PSUs | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | 40,443(7) | | | | | | 1,425,616 | | | |||
| 3/1/2021 | | | RSUs | | | | | | | | | | | | | | | | | | | | | | | | | | | | | 11,246(8) | | | | | | 396,422 | | | | | | | | | | | | | | | |||
| 3/1/2021 | | | RSUs | | | | | | | | | | | | | | | | | | | | | | | | | | | | | 28,114(9) | | | | | | 991,019 | | | | | | | | | | | | | | | |||
| 3/1/2021 | | | Stock Options | | | | | | | | | | | 5,393(10) | | | | | | 37.09 | | | | | | 3/1/2031 | | | | | | | | | | | | | | | | | | | | | | | | | | | |||
| 6/1/2020 | | | RSUs | | | | | | | | | | | | | | | | | | | | | | | | | | | | | 35,149(11) | | | | | | 1,239,002 | | | | | | | | | | | | | | | |||
| 6/1/2020 | | | Stock Options | | | | | | | | | | | 82,183(15) | | | | | | 30.42 | | | | | | 6/1/2030 | | | | | | | | | | | | | | | | | | | | | | | | | | | |||
| 3/2/2020 | | | PSUs | | | | | | | | | | | | | | | | | | | | | | | | | | | | | 191,792(16) | | | | | | 6,760,668 | | | | | | | | | | | | | | | |||
| 3/2/2020 | | | RSUs | | | | | | | | | | | | | | | | | | | | | | | | | | | | | 211,151(17) | | | | | | 7,443,073 | | | | | | | | | | | | | | | |||
| Ms. La Lande | | | 3/1/2021 | | | PSUs | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | 7,010(6) | | | | | | 247,103 | | |
| 3/1/2021 | | | PSUs | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | 16,177(7) | | | | | | 570,239 | | | |||
| 3/1/2021 | | | RSUs | | | | | | | | | | | | | | | | | | | | | | | | | | | | | 7,309(8) | | | | | | 257,642 | | | | | | | | | | | | | | | |||
| 3/1/2021 | | | RSUs | | | | | | | | | | | | | | | | | | | | | | | | | | | | | 11,246(9) | | | | | | 396,422 | | | | | | | | | | | | | | | |||
| 3/1/2021 | | | Stock Options | | | | | | | | | | | 3,505(10) | | | | | | 37.09 | | | | | | 3/1/2031 | | | | | | | | | | | | | | | | | | | | | | | | | | | |||
| 6/1/2020 | | | PSUs | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | 32,874(18) | | | | | | 1,158,809 | | | |||
| 6/1/2020 | | | RSUs | | | | | | | | | | | | | | | | | | | | | | | | | | | | | 22,847(11) | | | | | | 805,357 | | | | | | | | | | | | | | | |||
| 6/1/2020 | | | RSUs | | | | | | | | | | | | | | | | | | | | | | | | | | | | | 35,149(19) | | | | | | 1,239,002 | | | | | | | | | | | | | | | |||
| 8/16/2019 | | | PSUs | | | | | | | | | | | | | | | | | | | | | | | | | | | | | 49,194(3) | | | | | | 1,734,089 | | | | | | | | | | | | | | | |||
| 8/16/2019 | | | RSUs | | | | | | | | | | | | | | | | | | | | | | | | | | | | | 14,453(12) | | | | | | 509,468 | | | | | | | | | | | | | | | |||
| 8/16/2019 | | | RSUs | | | | | | | | | | | | | | | | | | | | | | | | | | | | | 55,591(5) | | | | | | 1,959,583 | | | | | | | | | | | | | | | |||
| 3/1/2018 | | | RSUs | | | | | | | | | | | | | | | | | | | | | | | | | | | | | 26,163(20) | | | | | | 922,246 | | | | | | | | | | | | | | | |||
| 3/1/2018 | | | Stock Options | | | | | | | | | | | 52,325(21) | | | | | | 66.89 | | | | | | 3/1/2028 | | | | | | | | | | | | | | | | | | | | | | | | | | | |||
| | | | | | | | | | | | |
| | | | | | | | | | Option Awards | | | Stock Awards | | ||||||||||||||||||||||||||||||||||||||||||
| Name | | | Grant Date | | | Grant Type | | | Number of Securities Underlying Unexercised Options Exercisable (#) | | | Number of Securities Underlying Unexercised Options Unexercisable (#) | | | Option Exercise Price ($) | | | Option Expiration Date | | | Number of Shares or Units of Stock That Have Not Vested (#) | | | Market Value of Shares or Units of Stock That Have Not Vested(1) ($) | | | Equity Incentive Plan Awards: Number of Unearned Shares, Units or Other Rights That Have Not Vested (#) | | | Equity Incentive Plan Awards: Market or Payout Value of Unearned Shares, Units or Other Rights That Have Not Vested(1) ($) | | ||||||||||||||||||||||||
| Mr. Oliveira | | | 3/1/2021 | | | Matching RSUs | | | | | | | | | | | | | | | | | | | | | | | | | | | | | 43,614(2) | | | | | | 1,537,394 | | | | | | | | | | | | | | |
| 3/1/2021 | | | PSUs | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | 10,282(6) | | | | | | 362,441 | | | |||
| 3/1/2021 | | | PSUs | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | 16,177(7) | | | | | | 570,239 | | | |||
| 3/1/2021 | | | RSUs | | | | | | | | | | | | | | | | | | | | | | | | | | | | | 10,721(8) | | | | | | 377,915 | | | | | | | | | | | | | | | |||
| 3/1/2021 | | | RSUs | | | | | | | | | | | | | | | | | | | | | | | | | | | | | 11,246(9) | | | | | | 396,422 | | | | | | | | | | | | | | | |||
| 3/1/2021 | | | Stock Options | | | | | | | | | | | 5,141(10) | | | | | | 37.09 | | | | | | 3/1/2031 | | | | | | | | | | | | | | | | | | | | | | | | | | | |||
| 6/1/2020 | | | PSUs | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | 32,874(18) | | | | | | 1,158,809 | | | |||
| 6/1/2020 | | | RSUs | | | | | | | | | | | | | | | | | | | | | | | | | | | | | 32,441(11) | | | | | | 1,143,545 | | | | | | | | | | | | | | | |||
| 6/1/2020 | | | RSUs | | | | | | | | | | | | | | | | | | | | | | | | | | | | | 35,149(19) | | | | | | 1,239,002 | | | | | | | | | | | | | | | |||
| 3/2/2020 | | | Matching RSUs | | | | | | | | | | | | | | | | | | | | | | | | | | | | | 24,844(2) | | | | | | 875,751 | | | | | | | | | | | | | | | |||
| 8/16/2019 | | | Matching RSUs | | | | | | | | | | | | | | | | | | | | | | | | | | | | | 29,593(2) | | | | | | 1,043,153 | | | | | | | | | | | | | | | |||
| 8/16/2019 | | | PSUs | | | | | | | | | | | | | | | | | | | | | | | | | | | | | 78,710(3) | | | | | | 2,774,528 | | | | | | | | | | | | | | | |||
| 8/16/2019 | | | RSUs | | | | | | | | | | | | | | | | | | | | | | | | | | | | | 16,876(12) | | | | | | 594,879 | | | | | | | | | | | | | | | |||
| 8/16/2019 | | | RSUs | | | | | | | | | | | | | | | | | | | | | | | | | | | | | 88,950(5) | | | | | | 3,135,488 | | | | | | | | | | | | | | | |||
| 3/1/2018 | | | RSUs | | | | | | | | | | | | | | | | | | | | | | | | | | | | | 44,850(20) | | | | | | 1,580,963 | | | | | | | | | | | | | | | |||
| 3/1/2018 | | | Matching RSUs | | | | | | | | | | | | | | | | | | | | | | | | | | | | | 8,022(2) | | | | | | 282,776 | | | | | | | | | | | | | | | |||
| 3/1/2017 | | | Matching RSUs | | | | | | | | | | | | | | | | | | | | | | | | | | | | | 4,135(2) | | | | | | 145,759 | | | | | | | | | | | | | | | |||
| 3/1/2017 | | | Stock Options | | | | | | | | | | | 27,344(22) | | | | | | 91.43 | | | | | | 3/1/2027 | | | | | | | | | | | | | | | | | | | | | | | | | | | |||
| 3/1/2016 | | | Stock Options | | | | | 32,192 | | | | | | | | | | | | 77.66 | | | | | | 3/1/2026 | | | | | | | | | | | | | | | | | | | | | | | | | | | |||
| 2/12/2015 | | | Matching Options | | | | | 4,492(14) | | | | | | | | | | | | 30.46 | | | | | | 2/12/2025 | | | | | | | | | | | | | | | | | | | | | | | | | | | |||
| 2/12/2015 | | | Stock Options | | | | | 16,419(14) | | | | | | | | | | | | 30.46 | | | | | | 2/12/2025 | | | | | | | | | | | | | | | | | | | | | | | | | | | |||
| 5/21/2014 | | | Stock Options | | | | | 110,833(14) | | | | | | | | | | | | 22.56 | | | | | | 5/21/2024 | | | | | | | | | | | | | | | | | | | | | | | | | | |
| | | | Option Awards | | | Stock Awards(1) | | ||||||||||||||||||
| Name | | | Number of Shares Acquired on Exercise (#) | | | Value Realized on Exercise ($) | | | Number of Shares Acquired on Vesting (#) | | | Value Realized on Vesting ($) | | ||||||||||||
| Mr. Patricio | | | | | — | | | | | | — | | | | | | 719,812 | | | | | | 27,360,054 | | |
| Mr. Basilio | | | | | — | | | | | | — | | | | | | 278,458 | | | | | | 10,575,456 | | |
| Mr. Abrams-Rivera | | | | | — | | | | | | — | | | | | | — | | | | | | — | | |
| Ms. La Lande | | | | | — | | | | | | — | | | | | | 117,714 | | | | | | 4,474,309 | | |
| Mr. Oliveira | | | | | — | | | | | | — | | | | | | 189,921 | | | | | | 7,211,817 | | |
| Name | | | Grant Date | | | Vesting Date | | | Number of Shares | | | Stock Price on Vesting Date ($)(2) | | | Value Realized on Vesting ($) | | | Description | | |||||||||||||||
| Mr. Patricio | | | | | 8/16/2019 | | | | | | 8/16/2021 | | | | | | 393,546 | | | | | | 38.01 | | | | | | 14,958,683 | | | | Shares underlying an award of PSUs, 50% of which vested | |
| | | 8/16/2019 | | | | | | 8/16/2021 | | | | | | 326,266 | | | | | | 38.01 | | | | | | 12,401,371 | | | | Shares underlying an award of RSUs, including DEUs accrued, 50% of which vested | | |||
| Mr. Basilio | | | | | 8/16/2019 | | | | | | 8/16/2021 | | | | | | 118,064 | | | | | | 38.01 | | | | | | 4,487,613 | | | | Shares underlying an award of PSUs, 50% of which vested | |
| | | 8/16/2019 | | | | | | 8/16/2021 | | | | | | 130,509 | | | | | | 38.01 | | | | | | 4,960,647 | | | | Shares underlying an award of RSUs, including DEUs accrued, 50% of which vested | | |||
| | | 8/16/2019 | | | | | | 8/16/2021 | | | | | | 20,393 | | | | | | 38.01 | | | | | | 775,138 | | | | Shares underlying an award of RSUs, including DEUs accrued, 50% of which vested | | |||
| | | 3/1/2016 | | | | | | 3/1/2021 | | | | | | 9,492 | | | | | | 37.09 | | | | | | 352,058 | | | | Shares underlying an award of Matching RSUs, including DEUs accrued, 100% of which vested | | |||
| Ms. La Lande | | | | | 8/16/2019 | | | | | | 8/16/2021 | | | | | | 49,193 | | | | | | 38.01 | | | | | | 1,869,826 | | | | Shares underlying an award of PSUs, 50% of which vested | |
| | | 8/16/2019 | | | | | | 8/16/2021 | | | | | | 54,381 | | | | | | 38.01 | | | | | | 2,067,022 | | | | Shares underlying an award of RSUs, including DEUs accrued, 50% of which vested | | |||
| | | 8/16/2019 | | | | | | 8/16/2021 | | | | | | 14,140 | | | | | | 38.01 | | | | | | 537,461 | | | | Shares underlying an award of RSUs, including DEUs accrued, 50% of which vested | | |||
| Mr. Oliveira | | | | | 8/16/2019 | | | | | | 8/16/2021 | | | | | | 78,709 | | | | | | 38.01 | | | | | | 2,991,729 | | | | Shares underlying an award of PSUs, 50% of which vested | |
| | | 8/16/2019 | | | | | | 8/16/2021 | | | | | | 87,005 | | | | | | 38.01 | | | | | | 3,307,060 | | | | Shares underlying an award of RSUs, including DEUs accrued, 50% of which vested | | |||
| | | 8/16/2019 | | | | | | 8/16/2021 | | | | | | 16,511 | | | | | | 38.01 | | | | | | 627,583 | | | | Shares underlying an award of RSUs, including DEUs accrued, 50% of which vested | | |||
| | | 3/1/2016 | | | | | | 3/1/2021 | | | | | | 7,696 | | | | | | 37.09 | | | | | | 285,445 | | | | Shares underlying an award of Matching RSUs, including DEUs accrued, 100% of which vested | |
| Name | | Element | | Involuntary Term. without Cause(1) or Term. upon Change in Control ($) | | Termination due to Death or Disability(2) ($) | | Termination due to Retirement(3) ($) | | Name | | Element | | Involuntary Termination without Cause(1) or Termination Upon Change in Control ($) | | Termination due to Death or Disability(2) ($) | | Termination due to Retirement(3) ($) | | ||||||||||||||||||||||||||
| Mr. Patricio | | | Salary | | | | 1,000,000 | | | | | — | | | | | — | | | Mr. Patricio | | | Salary | | | | 1,000,000 | | | | | — | | | | | — | | | ||||||
| Bonus | | | | — | | | | | 3,744,000 | | | | | 3,744,000 | | | | Bonus | | | | — | | | | | 2,875,193 | | | | | 2,875,193 | | | |||||||||||
| Intrinsic Value of Accelerated Equity | | | | — | | | | | 22,890,702 | | | | | — | | | | Intrinsic Value of Accelerated Equity | | | | — | | | | | 29,878,006 | | | | | — | | | |||||||||||
| Health & Welfare Benefits(4) | | | | 15,004 | | | | | — | | | | | — | | | | Health and Wellness Benefits(4) | | | | 15,004 | | | | | — | | | | | — | | | |||||||||||
| Outplacement Assistance | �� | | | | 4,000 | | | | | — | | | | | — | | | | Outplacement Assistance | | | | 4,000 | | | | | — | | | | | — | | | ||||||||||
| Total | | | | 1,019,004 | | | | | 26,634,702 | | | | | 3,744,000 | | | | Total | | | | 1,019,004 | | | | | 32,753,199 | | | | | 2,875,193 | | | |||||||||||
| Mr. Basilio | | | Salary | | | | 750,000 | | | | | — | | | | | — | | | Mr. Basilio | | | Salary | | | | 750,000 | | | | | — | | | | | — | | | ||||||
| Bonus | | | | — | | | | | 2,165,625 | | | | | 2,165,625 | | | | Bonus | | | | — | | | | | 1,582,917 | | | | | 1,582,917 | | | |||||||||||
| Intrinsic Value of Accelerated Equity | | | | 677,262 | | | | | 14,131,500 | | | | | 1,018,093 | | | | Intrinsic Value of Accelerated Equity | | | | — | | | | | 16,823,274 | | | | | 14,695,478 | | | |||||||||||
| Health & Welfare Benefits(4) | | | | 15,004 | | | | | — | | | | | — | | | | Health and Wellness Benefits(4) | | | | 15,004 | | | | | — | | | | | — | | | |||||||||||
| Outplacement Assistance | | | | 4,000 | | | | | — | | | | | — | | | | Outplacement Assistance | | | | 4,000 | | | | | — | | | | | — | | | |||||||||||
| Total | | | | 1,446,266 | | | | | 16,297,125 | | | | | 3,183,718 | | | | Total | | | | 769,004 | | | | | 18,406,191 | | | | | 16,278,395 | | | |||||||||||
| Mr. Abrams-Rivera | | | Salary | | | | 723,077 | | | | | — | | | | | — | | | Mr. Abrams-Rivera | | | Salary | | | | 800,000 | | | | | — | | | | | — | | | ||||||
| Bonus | | | | — | | | | | 2,165,680 | | | | | 2,165,680 | | | | Bonus | | | | — | | | | | 1,312,407 | | | | | 1,312,407 | | | |||||||||||
| Intrinsic Value of Accelerated Equity | | | | — | | | | | 8,637,135 | | | | | — | | | | Intrinsic Value of Accelerated Equity | | | | — | | | | | 18,729,447 | | | | | 14,600,685 | | | |||||||||||
| Health & Welfare Benefits(4) | | | | 13,754 | | | | | — | | | | | — | | | | Health and Wellness Benefits(4) | | | | 13,754 | | | | | — | | | | | — | | | |||||||||||
| Outplacement Assistance | | | | 4,000 | | | | | — | | | | | — | | | | Outplacement Assistance | | | | 4,000 | | | | | — | | | | | — | | | |||||||||||
| Total | | | | 740,831 | | | | | 10,802,815 | | | | | 2,165,680 | | | | Total | | | | 817,754 | | | | | 20,041,854 | | | | | 15,913,092 | | | |||||||||||
| Mr. Oliveira | | | Salary | | | | 734,572 | | | | | — | | | | | — | | | Ms. La Lande | | | Salary | | | | 650,000 | | | | | — | | | | | — | | | ||||||
| Bonus | | | | — | | | | | 1,989,892 | | | | | 1,989,892 | | | | Bonus | | | | — | | | | | 1,041,920 | | | | | 1,041,920 | | | |||||||||||
| Intrinsic Value of Accelerated Equity | | | | 406,244 | | | | | 11,870,848 | | | | | 677,038 | | | | Intrinsic Value of Accelerated Equity | | | | — | | | | | 7,823,808 | | | | | 5,125,385 | | | |||||||||||
| Health & Welfare Benefits(4) | | | | 1,381 | | | | | — | | | | | — | | | | Health and Wellness Benefits(4) | | | | 15,577 | | | | | — | | | | | — | | | |||||||||||
| Outplacement Assistance | | | | 1,538 | | | | | — | | | | | — | | | | Outplacement Assistance | | | | 4,000 | | | | | — | | | | | — | | | |||||||||||
| Total | | | | 1,143,735 | | | | | 13,860,740 | | | | | 2,666,930 | | | | Total | | | | 669,577 | | | | | 8,865,728 | | | | | 6,167,305 | | | |||||||||||
| Mr. Torres | | | Salary | | | | 328,611 | | | | | — | | | | | — | | | Mr. Oliveira | | | Salary | | | | 790,411 | | | | | — | | | | | — | | | ||||||
| Statutory Severance | | | | 38,286 | | | | | — | | | | | — | | | | Bonus | | | | — | | | | | 1,742,725 | | | | | 1,742,725 | | | |||||||||||
| Bonus | | | | — | | | | | 913,719 | | | | | 913,719 | | | | Intrinsic Value of Accelerated Equity | | | | 1,396,760 | | | | | 15,127,573 | | | | | 10,433,295 | | | |||||||||||
| Intrinsic Value of Accelerated Equity | | | | 502,116 | | | | | 5,692,347 | | | | | 1,506,500 | | | | Health and Wellness Benefits(4) | | | | 1,470 | | | | | — | | | | | — | | | |||||||||||
| Health & Welfare Benefits(4) | | | | 9,368 | | | | | — | | | | | — | | | | Outplacement Assistance | | | | 5,342 | | | | | — | | | | | — | | | |||||||||||
| Outplacement Assistance | | | | — | | | | | — | | | | | — | | | | Total | | | | 2,193,983 | | | | | 16,870,298 | | | | | 12,176,020 | | | |||||||||||
| Total | | | | 878,381 | | | | | 6,606,066 | | | | | 2,420,219 | | |
| | | Pay Ratio Disclosure | | |||||||
| | | |||||||||
| | | | | | | | |
| | | | Annual Total Compensation ($) | | | Pay Ratio Estimate | | ||||||
| Mr. Patricio, our Chief Executive Officer | | | | | | | | | | 190:1 | | | |
| Our median employee | | | | | |||||||||
| |
| | | Proposal of Independent Auditors | | |||||||
| | | |||||||||
| | | | | | | | |
| | | | The Board and Audit Committee recommend a vote FOR the ratification of the selection of PricewaterhouseCoopers LLP as Kraft Heinz’s independent auditors for | | |
| | | | Fiscal Year Ended | | | | | Fiscal Year Ended | | ||||||||||||||||||
| | | December 26, 2020 | | December 28, 2019 | | | | December 25, 2021 | | December 26, 2020 | | ||||||||||||||||
| PwC Fees | | ($ thousands) | | PwC Fees | | ($ thousands) | | ||||||||||||||||||||
| Audit fees(1) | | | | 12,617 | | | | | 13,945 | | | Audit fees(1) | | | | 11,269 | | | | | 12,617 | | | ||||
| Audit-related fees(2) | | | | 1,443 | | | | | 79 | | | Audit-related fees(2) | | | | 4,107 | | | | | 1,443 | | | ||||
| Tax fees(3) | | | | 1,538 | | | | | 1,730 | | | Tax fees(3) | | | | 2,462 | | | | | 1,538 | | | ||||
| All other fees(4) | | | | 41 | | | | | 9 | | | All other fees(4) | | | | 41 | | | | | 41 | | | ||||
| Total | | | | 15,639 | | | | | 15,763 | | | Total | | | | 17,879 | | | | | 15,639 | | |
| | | Proposal 5. Stockholder Proposal – Water Risk | | |||||||
| | | |||||||||
| | | | | | | | |
| | | | The Board recommends a vote AGAINST the stockholder proposal. | | |
| | | Other Information | | |||||||
| | | |||||||||
| | | | | | | | |
| | | | | | | | |||
| Thursday, May 11:00 a.m. Eastern Time | | | | Live via webcast at www.virtualshareholdermeeting.com/ | | | | Online access will open the Annual Meeting. | |
| Registered holder | | | the | |
| Beneficial holder whose Notice or voting instruction form indicates that you may vote those shares at www.proxyvote.com | | | the | |
| Other beneficial holder | | | contact your bank, broker, or other nominee (ideally no less than five days before the Annual Meeting) to obtain a legal proxy | |
| Proposal | | | Board Recommendation | | | More Information | | ||||||
| 1 | | | Election of Directors | | | | | FOR all nominees | | | Page | | |
| 2 | | | Advisory Vote to Approve Executive Compensation | | | | | FOR | | | Page | | |
| 3 | | | Advisory Vote on the Frequency of Holding an Advisory Vote to Approve Executive Compensation | | | | | ONE YEAR | | | Page 49 | | |
| 4 | | | Ratification of the Selection of PricewaterhouseCoopers LLP as Our Independent Auditors for | | | | | FOR | | | Page | | |
| 5 | | | Stockholder Proposal − Water Risk | | | | | AGAINST | | | Page 85 | |
| | | | | Internet | | | Telephone | | | Mail | | | During the Virtual Meeting | |
| | | | | 11:59 p.m. Eastern Time on May | | | 11:59 p.m. Eastern Time on May | | | | | | Before the polls close at the Annual Meeting on Thursday, May | |
| Registered Holders | | | | www.proxyvote.com | | | Within the United States and Canada, 1-800-690-6903 (toll-free) | | | Return a properly executed proxy card received before the polls close at the Annual Meeting on Thursday, May | | | Attend the Annual Meeting at www.virtualshareholdermeeting.com/ | |
| Beneficial Holders (holders in street name)* | | | | www.proxyvote.com | | | Within the United States and Canada, 1-800-454-8683 (toll-free) | | | Return a properly executed voting instruction form by mail, depending upon the method(s) your broker, bank, or other nominee makes available | | | Attend the Annual Meeting at www.virtualshareholdermeeting.com/ | |
| | IMPORTANT NOTICE REGARDING THE AVAILABILITY OF PROXY MATERIALS FOR THE ANNUAL MEETING OF STOCKHOLDERS TO BE HELD ON MAY | | | The Proxy Statement and | | |
| | | | | How You Hold Your Shares | | | How You Receive the Proxy Materials | | | How Your Vote Works | |
| Registered Holders | | | | Shares held directly with our transfer agent, Equiniti Trust Company. | | | From our transfer | | | Instructs the proxies how to vote your | |
| Beneficial Holders (holders in street name) | | | | Shares held indirectly through an account with an institutional or nominee holder of our stock such as a broker or bank who is the record holder of the stock. | | | From your broker, bank, or other | | | Instructs your nominee how to vote your shares, and that nominee in turn instructs the proxies how to vote your If you hold your shares in an employee benefit plan, see Question 7 | |
| Proposal | | | Vote Requirement* | | | Abstentions | | | Broker Non-Votes+ | |
| 1 Election of Directors | | | Majority♦ | | | No effect | | | No effect | |
| 2 Advisory Vote to Approve Executive Compensation | | | Majority | | | No effect | | | No effect | |
| 3 Advisory Vote on the Frequency of Holding an Advisory Vote to Approve Executive Compensation | | | Majority | | | No effect | | | No effect | |
| 4 Ratification of the Selection of PricewaterhouseCoopers LLP as Our Independent Auditors for | | | Majority | | | No effect | | | None | |
| 5 Stockholder Proposal − Water Risk | | | Majority | | | No effect | | | No effect | |
| Registered Holders | | | | Any subsequent vote you cast will replace your earlier vote. This applies whether you vote by Internet, telephone, mailing a proxy card, or voting electronically during the Annual Meeting | | | Alternatively, you may revoke your proxy by submitting a written revocation to: | | |||
| | | The Kraft Heinz Company Attention: Corporate Secretary 200 East Randolph Street Suite 7600 Chicago, Illinois 60601 | | ||||||||
| Beneficial Holders (holders in street name) | | | | You must contact your broker, bank, or other nominee for specific instructions on how to change or revoke your | |
| | | | | | | | | | | | | | | |||
| | | | Broadridge Financial Solutions, Inc. Householding Department 51 Mercedes Way Edgewood, New York 11717 | | | | | | 1-866-540-7095 | | | | | | ||
| | | | | | | | | | | | |
| | | To Attend the Annual Meeting | | | • Visit the meeting login page at www.virtualshareholdermeeting.com/ • Enter the control number included on your Notice, proxy card, or voting instruction form, or otherwise provide provided by your bank, broker, or other nominee as described below Registered Holders: Beneficial Holders (hold your shares in street name): o If your Notice or voting instruction form indicates that you may vote your shares at www.proxyvote.com, you will use the o Otherwise, you should contact your bank, broker, or other nominee (ideally no less than five days before the Annual Meeting) to obtain a legal proxy If you have any questions about your control number or how to obtain one, please contact your bank, broker, or other nominee. Online access will open You may vote during the Annual Meeting by following the instructions available on the meeting website during the meeting. The list of stockholders will be available for inspection by stockholders of record during the Annual Meeting at www.virtualshareholdermeeting.com/KHC2022 | | |
| | | To Listen to the Annual Meeting (without a control number or legal proxy) | | | Visit www.virtualshareholdermeeting.com/ You will not be able to vote or ask questions during the Annual Meeting. | | |
| | | For Help with Difficulties Accessing the Annual Meeting | | | Call 1-844-986-0822 (United States) or 1-303-562-9302 (International) for assistance. The technical support phone lines will be available beginning approximately | |
| | | During the Annual Meeting | | |
| • Visit www.virtualshareholdermeeting.com/ • Enter the control number included on your Notice, proxy card, or voting instruction form, or otherwise provided by your bank, broker or other nominee (as described in Question 17 on page • Type your question into the “Ask a Question” field and click “Submit” | |
| Stockholder Proposals | | | | | Deadline Date and time by which Kraft Heinz must receive proposal | | | Additional Requirements | | ||
| To include a proposal in our | | | Under SEC Rule 14a-8, a stockholder may submit a proposal for possible inclusion in the proxy statement for our | | | By the close of business on November | | | The information required by Rule 14a-8 | | |
| To nominate a candidate for election as a director or submit a proposal for consideration at our | | | Under our By-Laws, a stockholder may nominate a candidate for election as a director or propose business for consideration at our | | | Between the close of business on December We generally must receive written notice no later than 120 days, and no earlier than 150 days, before the first anniversary of the preceding year’s annual meeting. If we change the date of an annual meeting by more than 30 days before or more than 60 days after the date of the previous year’s annual meeting, then we must receive this written notice no later than 120 days, and no earlier than 150 days, before the date of that annual meeting or, if the first public announcement of the date of an annual meeting is less than 120 days prior to the date of such annual meeting, then we must receive this written notice no later than the 10th day following the day on which public announcement of the date of such annual meeting is first made by us. In addition, beginning with our 2023 Annual Meeting of Stockholders, we will be required under SEC Rule 14a-19 to include on our proxy card all nominees for director for which we have received notice under the rule. Such notice must be received by Kraft Heinz no less than 60 calendar days prior to the anniversary of the previous year’s annual meeting, which is March 6, 2023 for our 2023 Annual Meeting of Stockholders. This notice requirement is in addition to the applicable notice requirements under the advance notice provisions of our By-Laws described above. | | | The information required by our By-Laws, Article II, Section 6(c) and Rule 14a-19 (for nominees to be included on our proxy card) | |
| | Mail to: | | | |||
| | | | The Kraft Heinz Company Attention: Corporate Secretary 200 East Randolph Street Suite 7600 Chicago, Illinois 60601 | | |
| Directors | | | As of Fiscal Year End (December 25, 2021) | | | As of the Record Date* (March 7, 2022) | |
| Number of directors | | | 11 | | | 11 | |
| Directors that identify as women | | | 2 (18%) | | | 3 (27%) | |
| Directors that identify as people of color | | | 3 (27%) | | | 4 (36%) | |
| Officers | | | As of Fiscal Year End (December 25, 2021) | | | For the Fiscal Year* (2021) | |
| Number of Executive Leadership Team (“ELT”) members | | | 10 | | | 10 | |
| ELT members that identify as women | | | 3 (30%) | | | 3 (30%) | |
| ELT members that identify as people of color | | | 8 (80%) | | | 8 (80%) | |
| Nasdaq Board Diversity Matrix (as of March 7, 2022) | | ||||||||||||||||||||||||
| Total Number of Directors* | | | 11 | | |||||||||||||||||||||
| | | | Female | | | Male | | | Non-Binary | | | Gender Undisclosed | | ||||||||||||
| Gender | | | | | | | | | | | | | | | | | | | | | | | | | |
| Directors | | | | | 3 | | | | | | 8 | | | | | | – | | | | | | – | | |
| Self-Identified Demographic Background | | | | | | | | | | | | | | | | | | | | | | | | | |
| African American or Black | | | | | 2 | | | | | | – | | | | | | – | | | | | | – | | |
| Alaskan Native or American Indian | | | | | – | | | | | | – | | | | | | – | | | | | | – | | |
| Asian | | | | | – | | | | | | 1 | | | | | | – | | | | | | – | | |
| Hispanic or Latinx | | | | | – | | | | | | 1 | | | | | | – | | | | | | – | | |
| Native Hawaiian or Pacific Islander | | | | | – | | | | | | – | | | | | | – | | | | | | – | | |
| White | | | | | 1 | | | | | | 6 | | | | | | – | | | | | | – | | |
| Two or More Races or Ethnicities | | | | | – | | | | | | – | | | | | | – | | | | | | – | | |
| LGBTQ+ | | | | | – | | | | | | – | | | | | | – | | | | | | – | | |
| Undisclosed | | | | | – | | | | | | – | | | | | | – | | | | | | – | | |
| Appendix A. Non-GAAP Financial Measures | | |||||||||
| | | |||||||||
| | | | | | | | |
| | | | For the Year Ended | | |||||||||
| | | | December 25, 2021 | | | December 26, 2020 | | ||||||
| Net cash provided by/(used for) operating activities | | | | $ | 5,364 | | | | | $ | 4,929 | | |
| Capital expenditures | | | | | (905) | | | | | | (596) | | |
| Free Cash Flow | | | | $ | 4,459 | | | | | $ | 4,333 | | |