Velarion · Company Intelligence
Compensation Brief
Fiscal year 2025 · Filings through 2026-05-01

Pilgrims Pride (PPC)

Fiscal year 2025 executive and director compensation, incentive-plan design, equity activity, and governance — every figure in this brief is traceable to its exact location in the company’s SEC filing — the document, the section, the page, and the table, linked directly.

$16,408,520
Fabio Sandri total, FY2025
50th
CEO pay percentile vs peers
468:1
CEO-to-median pay ratio
99.55%
Say-on-pay support, latest vote
Companies that benchmark against PPC
2 companies name PPC as a compensation peer

Each company listed discloses PPC in its own benchmarking peer group, as disclosed in each company's most recent proxy statement within the last two proxy seasons. Two companies are therefore absent by design: one that named PPC in an earlier year and no longer does, and one whose own most recent disclosure is older than the last two seasons.

01

Summary Compensation Table — fiscal year 2025

Named executive officerSalaryBonusStock awardsOption awardsNon-equity incentivePension / NQDCAll otherTotal
Fabio Sandri$1,000,000$0$13,437,807$0$1,948,960$0$21,753$16,408,520
President and CEO
Matthew Galvanoni550,00002,812,45701,075,041015,5144,453,012
CFO

A dash means the company reported no figure in that column; 0 means it reported zero. Figures are as printed in the filing, without adjustment.

Three-year trend — total compensation per named executive

Named executive officerFY2025 totalFY2024 totalFY2023 totalΔ FY20242025
Fabio Sandri$16,408,520$3,942,031$2,577,965+12,466,489
Matthew Galvanoni4,453,0122,081,8771,292,761+2,371,135

Prior-year totals as disclosed in the corresponding proxy; deltas are computed values with the derivation shown in the register.

02

Equity transactions since the proxy statement was filed

No insider equity transactions reported since the proxy statement.

03

Grants of plan-based awards — fiscal year 2025

ExecutiveAwardGrant dateThresholdTargetGrantedMaximumGrant-date fair value
Fabio SandriPSU2025-03-1410,23120,46240,924$1,015,324
Fabio SandriPSU2024-08-1462,500250,000375,00011,422,500
Fabio SandriRSU2025-03-0718,308999,983
Matthew GalvanoniPSU2024-08-1412,50050,00075,0002,284,500
Matthew GalvanoniPSU2025-03-145,32010,64021,280527,957
03b

Vehicle mix — grant-date fair value by award type

Named executive officerTime-vested (RSU)Performance-vested (PSU)Options / SARs% performance-vested
Fabio Sandri$999,983$12,437,824$092.6%
Matthew Galvanoni02,812,4570100.0%

% performance-vested = PSU grant-date fair value ÷ (RSU + PSU + Options), a computed value with the derivation shown in the register.

04

Outstanding equity awards at fiscal year-end 2025

ExecutiveAwardShares unvestedExercise priceMarket value unvested
Fabio SandriPSU330,739$13,170,027
Matthew GalvanoniPSU77,5493,087,988
Matthew GalvanoniRSU60,1112,393,580
Fabio SandriRSU186,7407,435,967
05

Incentive-plan design — the Compensation Discussion & Analysis

The Company's compensation principles are intended to align the long-term interests of executives with those of stockholders, attract and retain key leaders, and reward sustained financial and operating performance. A significant portion of total compensation is performance-based and 'at risk,' balancing short-term and long-term incentives through cash bonuses and equity awards.

CEO STI target (% of salary)
CEO LTI target (% of salary)
Independent consultant
Clawback policytrue
Anti-hedgingtrue
Anti-pledgingtrue
06

Say-on-pay — recent advisory votes

Meeting yearMeeting dateForAgainstAbstainSupportOutcome
20262026-04-29227,280,9641,012,84723,85499.55%Passed
20252025-04-30217,528,14411,277,057210,03394.98%Passed
20232023-04-26226,209,6321,160,00332,00399.48%Passed
20222022-04-27225,697,5071,471,60176,59899.32%Passed
20212021-04-28227,202,2662,958,453162,07598.65%Passed
20202020-04-29211,631,22526,233,34571,44488.94%Passed

Rows are labeled by annual-meeting year, with the meeting date beside each; the vote held in a given year acts on the prior fiscal year's compensation.

Say-on-pay — history, company's computation

Meeting yearMeeting dateApproval — company's computation
20262026-04-2999.55%a
20252025-04-3094.98%b
20232023-04-2699.48%c

a. Approved under the standard stated in the filing — “However, stockholders may abstain from Proposals 3, 4, 5 and 6, and an abstention will have the same effect as a vote against any of these proposals.”.

b. Approved under the standard stated in the filing — “However, stockholders may abstain from Proposals 3, 4 and 5, and an abstention will have the same effect as a vote against any of these proposals.”.

c. Approved under the standard stated in the filing — “However, stockholders may abstain from Proposals 3 and 4, and an abstention will have the same effect as a vote against any of these proposals.”.

Approval percentages are the company's own reported computations under its own stated standard, not recomputed by Velarion. Where a company does not state a standard, none is assumed.

07

CEO pay ratio

Ratio (CEO : median employee)468 : 1
CEO total compensation
Median employee compensation$35,073
08

Director compensation — fiscal year 2025

DirectorCash feesStock awardsOption awardsNon-equity incentiveAll otherTotal
Farha AslamIndependent · Audit$165,000$60,000$225,000
Andre Nogueira de SouzaNominating160,00060,000220,000
Arquimedes A. CelisIndependent · Audit · Compensation · Nominating160,00060,000220,000
Wallim Cruz de Vasconcellos JuniorIndependent · Audit (Chair) · Nominating155,00060,000215,000
Gilberto TomazoniBoard Chair · Compensation (Chair) · Nominating155,00060,000215,000
Ajay MenonSustainability150,00060,000210,000
Wesley Mendonça BatistaNot independent · Compensation · JBS Nominating · Sustainability140,00060,000200,000
Raul PadillaIndependent140,00060,000200,000
Joanita KaroleskiIndependent · Sustainability128,33360,000188,333
Wesley Mendonça Batista FilhoNot independent · Sustainability · Newly elected
09

Board fee structure and ownership guideline

Annual cash retainer$140,000
Annual equity retainer$60,000
Per board meeting fee
Committee chair fees (audit / comp / nom-gov)15,000 / 15,000
Stock ownership guideline
09b

Total cost of the board

ComponentFY2025
Cash retainers and fees$1,353,333
Equity awards (grant-date value)$540,000
All other compensation$0
Total cost of the board$1,893,333

Computed as the sum of the director compensation table rows above; inputs and formula shown in the register.

10

Disclosed peer group — fiscal year 2025

The compensation peer group as the company disclosed it in its own proxy — the reference set behind the percentile above.

10a

Peer reciprocity

Of the companies Pilgrims Pride names as compensation peers, which name it back in their own disclosed peer groups. A peer set the market reciprocates reads differently from one selected in a single direction.

Reciprocity shown where the peer's own current proxy has been read — each mark is cited in the register to that peer's filing. A dash means the peer's current proxy was read and names no reciprocal group including Pilgrims Pride.

10b

Chief executive pay against the peer group

Most recent fiscal-year chief executive compensation at each disclosed peer, taken from that company's own proxy statement.

RankCompanyFYChief executiveSalaryStock awardsOption awardsNon-equity incentiveTotal
1Tyson Foods Inc2025Donnie King$1,662,000$19,684,637$2,943,752$9,401,385$34,469,569
2Pilgrims Pride2025Fabio Sandri1,000,00013,437,80701,948,96016,408,520
3Hormel Foods Corp2025James Snee1,050,0002,000,0131,999,7701,453,0007,395,224

Each peer's compensation is from its most recently filed proxy; fiscal years differ by company. Each peer's figures come from its own filings; the subject company is highlighted. Peers whose chief executive compensation is outside our coverage universe are stated as such, never left blank.

10c

Incentive design against the same peers

CompanyAnnual incentive payoutLong-term vehicle mixPSU measures include TSRCompensation consultant
Pilgrims Pridenot disclosednot disclosednot disclosednot disclosed
Hormel Foods Corp66%PSU 50 · Options 25 · RSU 25Yes — Relative TSRPearl Meyer
Tyson Foods Inc197.8%PSU 50 · RSU 25 · Options 25NoAon

Read from each company's Compensation Discussion and Analysis: annual incentive payout as a percentage of target, the disclosed long-term vehicle mix, whether performance-share measures include a total shareholder return component, and the retained compensation consultant. “Not disclosed” appears only where the company's filing does not state the item.

11

Source register

Each figure's location is given both for the eye (section · page · table · row · column) and for a script (table/row/column index and exact character span in the filed document). Any figure can be independently confirmed against the source.

#SupportsDocumentFiledAccessionLocation in document
1Section 01, Fabio SandriDEF 14A2026-04-020000802481-26-000016Section “Executive Compensation”. As printed: 16,408,520. Filing ↗machine: span 406988–406998
2Section 01, Matthew GalvanoniDEF 14A2026-04-020000802481-26-000016Section “Executive Compensation”. As printed: 4,453,012. Filing ↗machine: r5 · c18 · span 413181–413190
3Section 03, Fabio Sandri PSUDEF 14A2026-04-020000802481-26-000016Section “Executive Compensation” · grants of plan-based awards table. Filing ↗machine: span 443451–443460
4Section 03, Fabio Sandri PSUDEF 14A2026-04-020000802481-26-000016Section “Executive Compensation” · grants of plan-based awards table. Filing ↗machine: span 439640–439650
5Section 03, Fabio Sandri RSUDEF 14A2026-04-020000802481-26-000016Section “Executive Compensation” · grants of plan-based awards table. Filing ↗machine: span 441270–441277
6Section 03, Matthew Galvanoni PSUDEF 14A2026-04-020000802481-26-000016Section “Executive Compensation” · grants of plan-based awards table. Filing ↗
7Section 03, Matthew Galvanoni PSUDEF 14A2026-04-020000802481-26-000016Section “Executive Compensation” · grants of plan-based awards table. Filing ↗machine: span 449355–449362
8Section 07, pay ratioDEF 14A2026-04-020000802481-26-000016Section “CEO Pay Ratio”. As printed: 468 : 1. Filing ↗machine: span 537798–537801
9Section 08, Farha AslamDEF 14A2026-04-020000802481-26-000016Section “Director Compensation”. As printed: 225,000. Filing ↗machine: span 255764–255896
10Section 08, Andre Nogueira de SouzaDEF 14A2026-04-020000802481-26-000016Section “Director Compensation”. As printed: 220,000. Filing ↗machine: span 264535–264841
11Section 08, Arquimedes A. CelisDEF 14A2026-04-020000802481-26-000016Section “Director Compensation”. As printed: 220,000. Filing ↗machine: span 260090–260396
12Section 08, Wallim Cruz de Vasconcellos JuniorDEF 14A2026-04-020000802481-26-000016Section “Director Compensation”. As printed: 215,000. Filing ↗machine: span 268993–269299
13Section 08, Gilberto TomazoniDEF 14A2026-04-020000802481-26-000016Section “Director Compensation”. As printed: 215,000. Filing ↗machine: span 267494–267800
14Section 08, Ajay MenonDEF 14A2026-04-020000802481-26-000016Section “Director Compensation”. As printed: 210,000. Filing ↗machine: span 263047–263353
15Section 08, Wesley Mendonça BatistaDEF 14A2026-04-020000802481-26-000016Section “Director Compensation”. As printed: 200,000. Filing ↗machine: span 257113–257419
16Section 08, Raul PadillaDEF 14A2026-04-020000802481-26-000016Section “Director Compensation”. As printed: 200,000. Filing ↗machine: span 266012–266318
17Section 08, Joanita KaroleskiDEF 14A2026-04-020000802481-26-000016Section “Director Compensation”. As printed: 188,333. Filing ↗machine: span 261572–261878
18Section 08, Wesley Mendonça Batista FilhoDEF 14A2026-04-020000802481-26-000016Section “Director Compensation”. As printed: —. Filing ↗
19Section 06, 2026 voteForm 8-K2026-05-010000802481-26-000033Item 5.07 · say-on-pay result. As reported: 99.55% (votes for as printed: 227,280,964). Filing ↗
20Section 06, 2025 voteForm 8-K2025-05-010000802481-25-000066Item 5.07 · say-on-pay result. As reported: 94.98% (votes for as printed: 217,528,144). Filing ↗
21Section 06, 2023 voteForm 8-K2023-05-020000802481-23-000056Item 5.07 · say-on-pay result. As reported: 99.48% (votes for as printed: 226,209,632). Filing ↗
22Section 01 trend, Δ column (computed)ComputedcomputedΔ = current-FY total − prior-FY total per named officer.machine: formula: Δ = FY(n) − FY(n−1)
23Section 03b vehicle mix (computed)ComputedcomputedRSU / PSU / Options grant-date fair values summed per officer from the grants table; % performance-vested = PSU ÷ (RSU+PSU+Options).machine: formula: sums + PSU ratio
24Section 09b board cost (computed)ComputedcomputedCash 1,353,333 + equity 540,000 + all other 0 = 1,893,333, summed across the director compensation table rows.machine: formula: Σ = 1,893,333
25Tyson Foods Inc, Section 10b CEO totalDEF 14A2025-12-170000100493-25-000114CEO total compensation as printed in Tyson Foods Inc's own proxy. As printed: 34,469,569. Filing ↗machine: r6 · c54 · span 884354–884364
26Pilgrims Pride (subject), Section 10b CEO totalDEF 14A2026-04-020000802481-26-000016CEO total compensation as printed in Pilgrims Pride's own proxy. As printed: 16,408,520. Filing ↗machine: span 406988–406998
27Hormel Foods Corp, Section 10b CEO totalDEF 14A2025-12-170000048465-25-000074CEO total compensation as printed in Hormel Foods Corp's own proxy. As printed: 7,395,224. Filing ↗machine: r5 · c27 · span 586269–586278
28Section 10a, Tyson Foods Inc reciprocityDEF 14A0000100493-25-000114Tyson Foods Inc's most recent proxy was read; its disclosed peer group does not include Pilgrims Pride. Filing ↗
29Section 10a, Hormel Foods Corp reciprocityDEF 14A0000048465-25-000074Hormel Foods Corp's most recent proxy was read; its disclosed peer group does not include Pilgrims Pride. Filing ↗