[DEF 14A] Mission Produce, Inc. Definitive Proxy Statement
Mission Produce, Inc. calls a fully virtual 2026 annual stockholder meeting on April 9, 2026, with a record date of February 10, 2026. Stockholders will vote on electing three Class III directors, an advisory say-on-pay resolution, and ratifying Deloitte & Touche LLP as auditor for fiscal 2026.
The filing highlights a leadership transition where founder and CEO Stephen J. Barnard will become Executive Chairman after the meeting, and President and COO John M. Pawlowski will assume the CEO role. Linda B. Segre will serve as lead independent director as the board moves to nine members, most appointed within the past six years.
Mission reports record fiscal 2025 revenue of
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Insights
Mission pairs CEO transition with strong 2025 results and performance-linked pay.
Mission Produce outlines a planned leadership handoff as founder Stephen J. Barnard shifts to Executive Chairman and John M. Pawlowski becomes CEO after the 2026 annual meeting. This transition sits alongside a board refresh that reduces the board to nine members, with 56% appointed in the last six years, and reinforces a majority-independent structure and fully independent committees.
Operationally, the company reports record fiscal 2025 revenue of
Long-term equity is split evenly between time-based RSUs and PSUs tied to three-year cumulative Adjusted Net Income per share. The 2023–2025 PSU cycle achieved
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☐ | Preliminary Proxy Statement | ||
☐ | Confidential, for Use of the Commission Only (as permitted by Rule 14a-6(e)(2)) | ||
☒ | Definitive Proxy Statement | ||
☐ | Definitive Additional Materials | ||
☐ | Soliciting Material under §240.14a-12 | ||
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1. | Elect three Class III directors to the Board of Directors for a three-year term expiring at the 2029 annual meeting of stockholders. The nominees for election to the Board of Directors are Stephen J. Barnard, Linda B. Segre, and Laura Flanagan. |
2. | Approve, on an advisory basis, the compensation of our named executive officers. |
3. | Ratify the selection of Deloitte & Touche LLP as our independent registered public accounting firm for the fiscal year ending October 31, 2026. |
4. | Transact such other business as may properly come before the 2026 Annual Meeting or any continuation, postponement, or adjournment thereof. |

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PROXY STATEMENT SUMMARY AND HIGHLIGHTS | 1 | ||
ITEM 1: ELECTION OF DIRECTORS | 11 | ||
Board of Directors Overview | 11 | ||
2026 Nominees to the Board of Directors | 13 | ||
Continuing Directors | 14 | ||
CORPORATE GOVERNANCE | 17 | ||
Board of Directors Leadership Structure | 17 | ||
Enterprise Risk Management and the Board’s Role in Risk Oversight | 17 | ||
Corporate Governance Guidelines | 18 | ||
Code of Ethics and Conduct | 18 | ||
Insider Trading Policy | 18 | ||
Board Meetings and Attendance | 18 | ||
Communications with the Board | 18 | ||
Board Committees and Charters | 18 | ||
Board and Committee Evaluations | 21 | ||
Board Orientation and Education | 21 | ||
Director Compensation | 22 | ||
2025 Director Compensation | 23 | ||
EXECUTIVE COMPENSATION | 25 | ||
Executive Officers | 25 | ||
Compensation Discussion and Analysis | 26 | ||
Executive Compensation Tables | 39 | ||
Equity Compensation Plan Information | 50 | ||
OTHER COMPENSATION MATTERS | 51 | ||
Delinquent Section 16(a) Reports | 51 | ||
Compensation Committee Report | 51 | ||
CEO Pay Ratio | 51 | ||
Pay for Performance | 53 | ||
SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT | 58 | ||
Security Ownership of Certain Beneficial Owners | 58 | ||
Security Ownership of Management | 58 | ||
CERTAIN RELATIONSHIPS AND RELATED PARTY TRANSACTIONS | 60 | ||
Policies and Procedures for Review, Approval or Ratification of Related Party Transactions | 60 | ||
Related Party Transactions | 60 | ||
ITEM 2: ADVISORY VOTE ON THE COMPENSATION OF OUR NAMED EXECUTIVE OFFICERS | 62 | ||
ITEM 3: RATIFICATION OF APPOINTMENT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTANTS | 63 | ||
OTHER AUDIT MATTERS | 63 | ||
Fees Billed by Deloitte for 2025 and 2024 | 63 | ||
Audit Committee Report | 64 | ||
GENERAL INFORMATION | 65 | ||
Availability of Proxy Statement and Annual Report | 65 | ||
Virtual Annual Meeting | 65 | ||
Voting | 65 | ||
Record Date | 66 | ||
Quorum | 66 | ||
Voting Procedures | 66 | ||
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Proxy Solicitation | 67 | ||
Year End Reporting Convention | 67 | ||
Stockholders Sharing the Same Address | 67 | ||
Electronic Delivery of Future Proxy Materials | 67 | ||
2027 Annual Meeting Proposals | 67 | ||
Incorporation by Reference | 68 | ||
Forward-Looking Statements | 68 | ||
Other Matters | 69 | ||
EXHIBIT A | 70 | ||
Cumulative Adjusted Net Income Per Share Reconciliation | 70 | ||
EXHIBIT B | 71 | ||
Adjusted EBITDA Reconciliation | 71 | ||
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Meeting Date and Time | April 9, 2026, at 1:30 p.m. Pacific Time | ||
Record Date | February 10, 2026 | ||
Location | Virtual live webcast. You will be able to attend the 2026 Annual Meeting, vote, and submit questions during the meeting by visiting www.virtualshareholdermeeting.com/AVO2026. Further information regarding attendance, including how to access the virtual meeting, is set forth in the “GENERAL INFORMATION” section of the Proxy Statement. | ||
Proposal # | Item | Board Recommendation | Page Reference | ||||||||
1 | Election of Directors | FOR each nominee | 11 | ||||||||
2 | Advisory Vote to Approve the Compensation of our Named Executive Officers (Say on Pay) | FOR | 62 | ||||||||
3 | Ratification of Appointment of Deloitte & Touche LLP as our Independent Registered Public Accounting Firm for Fiscal Year 2026 | FOR | 63 | ||||||||
![]() | By Internet. You may submit a proxy over the Internet at www.proxyvote.com before 11:59 p.m. Eastern time on April 8, 2026. You will need to have your control number that appears on your Notice, voting instruction form or proxy card. | ||||
![]() | By Telephone. You may submit a proxy over the telephone by calling 1-800-690-6903. Use any touch-tone telephone to transmit your vote before 11:59 p.m. Eastern Time on April 8, 2026. You will need to have your control number that appears on your Notice, voting instruction form or proxy card. | ||||
![]() | By Mail. Mark, sign, and date the proxy card provided to you (if you received a paper copy of the proxy) and return it in the postage-paid envelope we have provided or return it to Vote Processing, c/o Broadridge, 51 Mercedes Way, Edgewood, NY 11717. You do not need to mail the proxy card if you are submitting your proxy by internet or telephone. | ||||
![]() | At the Meeting. To vote at the 2026 Annual Meeting, visit www.virtualshareholdermeeting.com/AVO2026. You will need the control number that appears on your Notice, proxy card, or voting instruction form to log on and vote at the virtual 2026 Annual Meeting. Please see “General Information” in this proxy statement for more information. |
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$1.39 Billion Revenues | $56.2 Million Adjusted Net Income (attributable to the Company) | $110.8 Million Adjusted EBITDA | $88.6 Million Cash Flow from Operations | |||||||||||||||
• | Achieved record revenue of $1.39 billion compared to $1.23 billion for fiscal 2024, a 13% increase, driven by strong execution in Marketing & Distribution and significantly higher yields from owned Peruvian orchards in International Farming. |
• | Net income attributable to the Company, which reflects net income less the net income attributable to the non-controlling interest of our third party joint venture partner related to the blueberry business segment, increased 3% to $ 37.7 million, or $0.53 per diluted share, compared to $36.7 million or $0.52 per diluted share last year. |
• | Adjusted net income attributable to the Company which reflects adjusted net income less the portion attributable to the non-controlling interest held by our third party joint venture partner related to the blueberry business segment (“Adjusted Net Income”) increased by 6% to $56.2 million, or $0.79 per diluted share, compared to $52.8 million, or $0.74 per diluted share, in the prior year (see Exhibit A for Adjusted Net Income Per Share reconciliation). |
• | Generated $110.8 million in adjusted earnings before interest, taxes, depreciation, and amortization (“Adjusted EBITDA”) (see Exhibit B for Adjusted EBITDA reconciliation) compared to $107.8 million for fiscal 2024, an increase of 3%, driven by higher gross profit from improved avocado and mango yields in our International Farming segment, while higher volume sold in our Marketing & Distribution segment was partially offset by lower per-unit margins. |
• | Cash Flow from operations for fiscal 2025 was $88.6 million compared to $93.4 million for fiscal 2024. |
• | in 2023, we appointed Tony Bashir Sarsam to our Board of Directors; and |
• | in 2025, we appointed Michael B. Sims, Laura Flanagan, and Douglas M. Stone to our Board of Directors. |
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CORPORATE GOVERNANCE BEST PRACTICES | |||||||||||
✔ | Separate Chairman and CEO roles | ✔ | Annual Board and committee evaluation process | ||||||||
✔ | Director Resignation Policy | ✔ | Strong Governance Guidelines and committee charters | ||||||||
✔ | Lead independent director (when Chairman is not independent) | ✔ | Strong stock ownership guidelines for directors and officers | ||||||||
✔ | 100% independent Board committees | ✔ | Annual Sustainability Report | ||||||||
✔ | Balance of expertise amongst directors | ✔ | Strong cybersecurity governance and protections | ||||||||
✔ | Majority independent directors | ✔ | Balanced director tenure and ongoing refreshment | ||||||||
✔ | Regular executive sessions | ✔ | Enterprise risk management framework overseen by Audit Committee | ||||||||
✔ | Annual compensation risk analysis overseen by Compensation Committee | ||||||||||
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Type | Element | Performance Period | Objective | ||||||||
Fixed | Base Salary | Annual | Recognizes an individual’s role and responsibilities and serves as an important retention vehicle | ||||||||
Performance-based | Annual Cash Incentive | Annual | Rewards achievement based primarily on pre-established Adjusted EBITDA goals and, to a significantly lesser extent for certain NEOs, individual performance | ||||||||
Performance-based – 50% of Annual Equity Grant Value | Three-year Performance-Based Share Units (“PSUs”) | Long-Term | Supports the achievement of pre-established cumulative Adjusted Net Income per share goals that drive the creation of long-term, sustainable stockholder value | ||||||||
Time-based – 50% of Annual Equity Grant Value | Restricted Stock Units (“RSUs”) | Long-Term | Aligns the interests of management and stockholders and serves as an important retention vehicle | ||||||||
NEO | 2025 Annual Cash Incentive Plan Payouts | ||||
Stephen J. Barnard | $1,010,880 | ||||
John M. Pawlowski | $731,328 | ||||
Bryan E. Giles | $448,290 | ||||
Joanne C. Wu | $411,372 | ||||
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NEO | Fiscal 2025 Total Equity Award Value | Fiscal 2025 RSUs Award Value (50% of total) | Fiscal 2025 PSUs Award Value (50% of total) | ||||||||
Stephen J. Barnard | $1,200,000 | $600,000 | $600,000 | ||||||||
John M. Pawlowski | $1,000,000 | $500,000 | $500,000 | ||||||||
Bryan E. Giles | $680,000 | $340,000 | $340,000 | ||||||||
Joanne C. Wu | $500,000 | $250,000 | $250,000 | ||||||||
Juan A. Wiesner(1) | $200,000 | $100,000 | $100,000 | ||||||||
(1) | In connection with his departure from the Company effective November 1, 2025, Mr. Weisner forfeited these RSUs, and the PSUs will be earned based on actual performance through the end of the performance period, pro-rated for time served (one year) during the performance period. |
Name | Grant Date Value of PSUs at Target | Number of PSUs at Grant Date Value | Achievement based on Cumulative Adjusted Net Income Per Share over 3-year performance period | PSU Earnout of 174% in shares | Value of Shares Earned based on Closing Stock Price of $11.52 at 10/31/25 | ||||||||||||
Stephen J. Barnard | $687,119 | 57,887 | 122% | 100,723 | $1,160,329 | ||||||||||||
John M. Pawlowski | n/a | n/a | n/a | n/a | n/a | ||||||||||||
Bryan E. Giles | $233,625 | 19,682 | 122% | 34,247 | $394,525 | ||||||||||||
Juan A. Wiesner | $171,783 | 14,472 | 122% | 25,181 | $290,085 | ||||||||||||
Joanne C. Wu | $171,783 | 14,472 | 122% | 25,181 | $290,085 | ||||||||||||
✔ | Strong stock ownership guidelines, requiring our Chief Executive Officer to hold 5x, our Chief Financial Officer and President and Chief Operating Officer, 3x, and our other NEOs 1x, of their base salary |
✔ | Prohibit short sales and hedging of the Company’s stock |
✔ | Approve equity award values and use a trailing 30-day average stock price from the grant date to determine number of shares granted |
✔ | Use a formulaic approach to setting equity award grant dates (early January for annual equity grants) to ensure earnings information has been absorbed by the market prior to grant dates |
✔ | Provide limited perquisites with no gross-ups (except for relocation) |
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✔ | Annual Say on Pay vote |
✔ | Independent compensation consultant |
✔ | No defined benefit plans, pensions, or supplemental executive retirement plan benefits |
✔ | Cash severance benefits capped at 2x for CEO and 1.5X - 1.0X for other NEOs for change in control (CIC) related severance and non-CIC related severance, respectively |
✔ | Double trigger for equity award acceleration in connection with CIC and no gross ups |
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• | Right to a safe working environment that complies with applicable health and safety laws and regulations. |
• | Right to a living wage by operating in compliance with applicable wage, work hours, overtime, and benefits laws and regulations. |
• | Freedom from forced labor by ensuring persons are free from work or service that is compelled under the threat of penalty and which the person has not offered to perform voluntarily. |
• | Freedom from child labor that is in violation of state, federal, or local laws prohibiting the employment of children under a specified age. |
• | Freedom from discrimination at work based on race, color, sex, language, religion, political or other opinion, national or social origin, property, birth, or other status. |
• | Respect for freedom of association and the right to collective bargaining. |
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• | We comply with local environmental laws and regulations applicable to our business. |
• | We employ management systems and procedures designed to track and understand the use of hazardous materials, energy, and other natural resources. This is done through global utility and resources tracking, emissions calculations, and available reporting for accountability. |
• | We seek opportunities to improve our environmental performance at our facilities and on our farms by establishing priorities, measuring progress, and reporting our results. |
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Pillar | Focus Area | Fiscal 2025 Initiatives | |||||||||
People | Our People | Demographics | We report on the demographic data of our global workforce, year-over-year, as part of our commitment to transparency with our stakeholders. ![]() | ||||||||
Supply chain management | In 2025, we developed and implemented a produce supplier corporate social responsibility program. This program includes a Produce Supplier Corporate Social Responsibility Code of Conduct which outlines our expectations of suppliers on topics including compliance with laws and regulations, human rights, health and safety, environmental management, and ethical business practices, among others. Key components of this program also include supplier audits and risk assessments covering topics related to corporate social responsibility. | ||||||||||
Community Investment | Charitable giving | In 2025, Mission continued to invest in the communities in which we operate, making meaningful contributions to the development of community infrastructure and resources. Through our giving, Mission contributed to causes supporting children, families, and education. In the U.S., Mission hosted its 13th annual golf tournament to raise funds for The Mission Foundation, with the money raised going to support the communities of Ventura County and the farming industry. In Peru, our teams executed several projects benefiting children, including providing Christmas gifts to almost 2,000 children across the Viru, Chao, Trujillo, and Olmos sectors of Peru. Our teams also provided monetary donations to local infrastructure projects covering items such as the construction of a sewer system in the Talisman sector and road maintenance and improvement in the Morrope district. Our team in Mexico supported local festivals and provided monetary donations to a local day care to assist with meals and a pre-school promotion celebration. | |||||||||
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Pillar | Focus Area | Fiscal 2025 Initiatives | |||||||||
Product | Food waste | Landfill diversion | At our packinghouse in California, we take actions to utilize fruit that enters our facility, including with respect to fruit that does not meet minimum quality standards and must be discarded. In 2025, we diverted over 2.2 million pounds of avocado food waste from landfills to a third-party processor for avocado oil production. | ||||||||
Employee Food Waste Management | At our corporate office and packinghouse in California, we have made available organic waste bins in all breakrooms and kitchens to provide access for employees to properly dispose of personal food waste. | ||||||||||
Food Safety and Quality | Food Safety Audits | In 2025, our U.K. forward distribution center underwent its second BRCGS food safety audit, achieving an AA+ rating with zero non-conformances. | |||||||||
Planet | Energy and Emissions | Carbon sequestration | In 2025, our Company partnered with Bircham International University in cooperation with Escuela Superior de Ciencias Ambientales de Guatemala to conduct a carbon sequestration evaluation on our farm in Guatemala. The results of the assessment showed that our Guatemalan farm annually sequesters 7,700 tons of CO2. | ||||||||
Renewable energy | At our U.K. forward distribution center, our solar panels generated 441,400 kilowatt hours for the use of clean energy in our operations in 2025. At our California packhouse, approximately 1,422,205 kilowatt hours of solar power were generated. Across both facilities, enough clean energy was generated to power 168 homes for one year.4 | ||||||||||
Environment | Pro-Forest Avocado certification | In 2025, Mission Produce adopted the use of the Guardian Forestal platform which aids in the identification of ranches associated with illegal deforestation in Michoacán, Mexico. We are not directly utilizing or picking from any ranches identified or flagged by the Guardian Forestal platform. Through these practices, Mission de Mexico has achieved the Pro-Forest Avocado certification, an environmental standard created by the Government of the State of Michoacán, administered by Guardian Forestal. | |||||||||
Sustainability certification | Each of our avocado farms in Peru achieved the SCS Sustainably Grown Certification during the 2025 season. This certification focuses on business integrity, sustainable farming practices, and ethical stewardship. | ||||||||||
• | Greenhouse gas emissions | • | Workforce health and safety | ||||||||
• | Energy, water, and food waste management | • | Data security | ||||||||
• | Food safety | • | Product labeling and marketing | ||||||||
4 | Calculated using the U.S. Environmental Protection Agency’s (EPA) Greenhouse Gas Equivalencies Calculator. |
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Class | Current Class Composition | Upcoming Changes* | Class Composition After 2026 Annual Meeting (Assuming All Nominees Elected) | ||||||||
Class III - Term Expiring 2026 Annual Meeting | Stephen J. Barnard Laura Flanagan Bonnie C. Lind* Linda B. Segre | *Ms. Lind will not stand for re-election at the 2026 Annual Meeting | Stephen J. Barnard Laura Flanagan Linda B. Segre | ||||||||
Class I - Term Expiring 2027 Annual Meeting | Stephen A. Beebe* Jay A. Pack Tony Bashir Sarsam Douglas M. Stone | *Mr. Beebe will retire from the Board effective at the close of the 2026 Annual Meeting | Jay A. Pack Tony Bashir Sarsam Douglas M. Stone | ||||||||
Class II - Term Expiring 2028 Annual Meeting | Luis A. Gonzalez Bruce C. Taylor Michael B. Sims | Luis A. Gonzalez Bruce C. Taylor Michael B. Sims | |||||||||
S. Barnard | L. Flanagan | L. Gonzalez | J. Pack | T. Sarsam | L. Segre | M. Sims | D. Stone | B. Taylor | |||||||||||||||||||||
Age | 73 | 58 | 75 | 73 | 64 | 65 | 67 | 60 | 69 | ||||||||||||||||||||
Director Since | 1983 | 2025 | 2011 | 2008 | 2023 | 2020 | 2025 | 2025 | 2001 | ||||||||||||||||||||
Independent | No | Yes | No | Yes | Yes | Yes | Yes | Yes | Yes | ||||||||||||||||||||
Compensation | Member | Chair | Member | ||||||||||||||||||||||||||
Audit | Member | Member | Chair | ||||||||||||||||||||||||||
Nominating & Corporate Governance | Chair | Member | Member | ||||||||||||||||||||||||||
Additional Appointments | Executive Chairman | Lead Independent Director | Financial Expert | ||||||||||||||||||||||||||
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Expertise* | S. Barnard | S. Beebe | L. Flanagan | L. Gonzalez | B. Lind | J. Pack | M. Sims | T. Sarsam | L. Segre | D. Stone | B. Taylor | ||||||||||||||||||||||||
Prior Board Experience | • | • | • | • | • | • | • | • | • | ||||||||||||||||||||||||||
Senior Leadership | • | • | • | • | • | • | • | • | • | • | • | ||||||||||||||||||||||||
Food/ Agriculture | • | • | • | • | • | • | • | • | • | • | |||||||||||||||||||||||||
Public Sector | • | • | • | • | • | • | • | ||||||||||||||||||||||||||||
International | • | • | • | • | • | • | • | • | • | ||||||||||||||||||||||||||
Legal/ Governance | • | • | • | • | • | • | • | ||||||||||||||||||||||||||||
Operations | • | • | • | • | • | • | • | • | • | • | • | ||||||||||||||||||||||||
Finance/Tax | • | • | • | • | • | • | • | • | • | • | |||||||||||||||||||||||||
HR/Compensation and Benefits | • | • | • | • | • | • | • | ||||||||||||||||||||||||||||
Commercial/ Marketing | • | • | • | • | • | • | • | • | • | • | |||||||||||||||||||||||||
* | Does not include experience gained from service on our Board of Directors. |
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• | Mr. Barnard serves as the Company’s Chief Executive Officer and therefore is not an independent director. In addition, the Company purchases avocados from farms owned by Mr. Barnard and Barnard Properties, an entity owned by Mr. Barnard, in amounts exceeding the categorical standards for independence under Nasdaq rules. Purchases are made at market prices similar to prices paid to other California growers. |
• | In November 2022, the Company entered into a long-term lease with AgroLatam, a company owned by Mr. Gonzalez. Additionally, in April 2023, the Company purchased a parcel of land from AgroLatam. The land leased and purchased are related to the Company’s blueberry farming operations in Olmos, Peru. The amounts paid for the parcel of land purchased and the amounts to be paid to AgroLatam under the lease exceed the categorical standards for independence under Nasdaq rules, and therefore, Mr. Gonzalez is not considered an independent director. |
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The Board of Directors recommends a vote “FOR” each of the named director nominees. | ||
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• | is responsible for the appointment, compensation, retention, evaluation, and oversight of our independent auditor; |
• | oversees the financial reporting process, including the review of critical accounting policies and estimates, issues and analyses of financial reporting issues, audit problems and difficulties, and the adequacy and effectiveness of accounting and financial controls; |
• | reviews our financial statements and our management’s discussion and analysis of financial condition and results of operations to be included in our annual and quarterly reports to be filed with the SEC; |
• | provides the Audit Committee Report with respect to audited financial statements for inclusion in the Company’s proxy statement; |
• | reviews the Company’s earnings press releases and earnings guidance, if applicable; |
• | reviews and oversees legal and compliance matters; |
• | oversees legally-mandated reporting on sustainability topics; |
• | reviews the scope and results of our internal audit function; |
• | reviews the policies and practices with respect to risk assessment and management; and |
• | reviews our information security and technology risks (including cybersecurity). |
• | reviews and recommends corporate goals and objectives relevant to compensation of our Chief Executive Officer, evaluates the performance of the Chief Executive Officer against these goals and objectives, and sets the compensation of our Chief Executive Officer; |
• | reviews and sets the compensation of our executive officers other than the Chief Executive Officer; |
• | makes recommendations to the Board of Directors regarding director compensation; |
• | reviews and approves any employment agreements and offer letters and severance agreements or arrangements for the Company’s executive officers; |
• | reviews and approves the Company’s incentive compensation and equity-based plans and arrangements; |
• | reviews compliance with stock ownership guidelines for directors and officers; |
• | oversees the establishment and administration of incentive recoupment policies; |
• | oversees the risk assessment regarding the Company’s compensation policies, programs, and practices; |
• | reviews and approves the Compensation Discussion and Analysis for the Company’s proxy statement and prepares the annual Compensation Committee Report for inclusion in the proxy statement; and |
• | oversees employee pay equity. |
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• | reviews and makes recommendations to the Board of Directors regarding director independence; |
• | identifies individuals qualified to serve as members of the Board of Directors and recommends nominees to the Board of Directors for appointment or election at the annual meeting of stockholders; |
• | reviews Board committee structure and composition; |
• | develops and reviews the Corporate Governance Guidelines; |
• | oversees the annual self-evaluations of the Board of Directors and its committees and management; |
• | reviews periodically the succession plans relating to executive officers and other senior management; |
• | reviews and oversees the Company’s substantive sustainability matters including voluntary external reporting; and |
• | makes recommendations to the Board of Directors regarding other governance matters. |
• | high level of personal and professional integrity, strong ethics and values, and the ability to exercise effective business judgment; |
• | experience in corporate management, such as serving as an officer or former officer of a publicly held company; |
• | experience as a board member of another publicly held company; |
• | professional and/or academic experience relevant to the Company’s industry; |
• | strength of the candidate’s leadership skills; |
• | experience in finance and accounting, executive compensation, or other areas of subject matter expertise pertinent to the business and necessary or judicious to round out the expertise of the Board of Directors; |
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• | sufficient time available for preparation, participation, and attendance at Board of Directors and committee meetings; and |
• | any other factor that they deem to be relevant. |
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Director Compensation Program | ||||||||
Annual Cash Retainers | ||||||||
Board Cash Retainer: | $70,000 | |||||||
Committee Cash Retainers: | ||||||||
Annual Committee Chair Retainer (in lieu of committee member retainers) | ||||||||
•Audit | $20,000 | |||||||
•Compensation | $15,000 | |||||||
•Nominating and Corporate Governance | $12,500 | |||||||
Annual Committee Member Retainer | ||||||||
•Audit | $9,000 | |||||||
•Compensation | $6,500 | |||||||
•Nominating and Corporate Governance | $5,000 | |||||||
Lead Independent Director Cash Retainer: | $25,000 | |||||||
Initial Equity Compensation | ||||||||
Equity Award (RSUs); pro-rated based on appointment date through next annual meeting of stockholders | $110,000 | |||||||
Annual Equity Compensation | ||||||||
Equity Award (RSUs) | $110,000 | |||||||
Additional Chairman of the Board Equity Award (RSUs)* | $60,000 | |||||||
* | Mr. Barnard will not receive the annual equity award grant for service as Executive Chairman. Please see Amended and Restated Employment Agreement for Executive Chairman below for Mr. Barnard’s compensation for service as Executive Chairman. |
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• | Shares of common stock directly owned by a director or their immediate family member; |
• | Common stock owned indirectly if the individual has an economic interest in the shares; |
• | Unvested RSUs subject to time-based vesting only; and |
• | Deferred equity under the Nonqualified Deferred Compensation Plan. |
Name | Fees earned or paid in cash ($) | Stock awards ($)(1) | All Other Compensation ($) | Total ($) | ||||||||||
Stephen A. Beebe | 80,167 | 164,109(2) | — | 244,276 | ||||||||||
Laura Flanagan(3) | 25,667 | 84,935(4) | — | 110,602 | ||||||||||
Luis A. Gonzalez | 66,667 | 106,185 | — | 172,852 | ||||||||||
Bonnie C. Lind | 85,000 | 106,185 | — | 191,185 | ||||||||||
Jay A. Pack | 80,167 | 106,185 | — | 186,352 | ||||||||||
Tony Bashir Sarsam | 72,667 | 106,185 | — | 178,852 | ||||||||||
Linda B. Segre | 80,000 | 106,185 | — | 186,185 | ||||||||||
Michael B. Sims(3) | 39,500 | 103,767(5) | — | 143,267 | ||||||||||
Douglas M. Stone(3) | — | — | — | — | ||||||||||
Bruce C. Taylor | 77,667 | 106,185 | — | 183,852 | ||||||||||
(1) | Unless otherwise noted to the contrary, represents the grant date fair value of 10,902 RSUs granted to each of our non-employee directors on April 10, 2025 computed in accordance with Accounting Standards Codification Topic 718, based on a closing price of our stock on the date of grant of $9.74. Such closing stock price differs from the stock price |
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(2) | Includes an additional 5,947 RSUs granted to Mr. Beebe on April 10, 2025 pursuant to our Director Compensation Program for serving as the Chairman of the Board of Directors and computed in accordance with Accounting Standards Codification Topic 718, based on a closing price of our stock on the date of grant of $9.74. Such closing stock price differs from the stock price used to calculate the number of shares awarded to each director (which is based on a trailing 30-day average stock price from the date of grant of $10.09, consistent with our equity grant practices). |
(3) | Ms. Flanagan was appointed to the Board of Directors effective June 30, 2025. Mr. Sims was appointed to the Board of Directors effective May 5, 2025. Mr. Stone was appointed to the Board of Directors effective November 26, 2025. |
(4) | Represents 7,247 RSUs granted to Ms. Flanagan on June 30, 2025 pursuant to our Director Compensation Program in connection with her appointment to the Board of Directors and computed in accordance with Accounting Standards Codification Topic 718, based on a closing price of our stock on the date of grant of $11.72. Such closing stock price differs from the stock price used to calculate the number of shares awarded to each director (which is based on a trailing 30-day average stock price from the date of grant of $11.77, consistent with our equity grant practices. |
(5) | Represents 9,968 RSUs granted to Mr. Sims on May 5, 2025 pursuant to our Director Compensation Program in connection with his appointment to the Board of Directors and computed in accordance with Accounting Standards Codification Topic 718, based on a closing price of our stock on the date of grant of $10.41. Such closing stock price differs from the stock price used to calculate the number of shares awarded to each director (which is based on a trailing 30-day average stock price from the date of grant of $10.25, consistent with our equity grant practices. |
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Name | Position | Age | Biography | ||||||||
Stephen J. Barnard | Chief Executive Officer | 73 | See Item 1: Election of Directors. Effective at the close of the 2026 Annual Meeting, Mr. Barnard will transition to the role of Executive Chairman of the Board. | ||||||||
John M. Pawlowski | President and Chief Operating Officer | 50 | John M. Pawlowski has served as our President and Chief Operating Officer since April 2024. Effective as of the close of the 2026 Annual Meeting, Mr. Pawlowski will become the Company’s President and Chief Executive Officer. Previously, he served as the President and Chief Operating Officer of Lipari Foods, a nationwide food distributor, from October 2021 to December 2023. Prior to this, he served as a president of TriMark USA, a leading foodservice supply company, from January 2019 to September 2021. Mr. Pawlowski also served in various roles of increasing responsibility at The J.M. Smucker Company (NYSE:SJM), a manufacturer of food and beverage products, from May 2002 to December 2019. Mr. Pawlowski holds a B.S. from Miami University and an Executive MBA from Kent State. | ||||||||
Bryan E. Giles | Chief Financial Officer | 55 | Bryan E. Giles has served as our Chief Financial Officer since 2018. Prior to his role as Chief Financial Officer, Mr. Giles was the Vice President of Finance, a role he held since 2012. Before joining Mission, Mr. Giles worked at Tecom Industries Inc., a division of Smiths Group (LSE: SMGZY), in multiple capacities including Vice President of Finance & Administration and Vice President of Finance – MSS Technology Group. Prior to this, Mr. Giles started his career at Deloitte & Touche LLP. Mr. Giles is a Certified Public Accountant licensed in the state of California (inactive). Mr. Giles received a Bachelor of Science degree and a Master of Business Administration degree from California State University, Northridge. | ||||||||
Joanne C. Wu | General Counsel and Secretary | 44 | Joanne C. Wu has served as our General Counsel and Secretary since March 2021. Prior to this, Ms. Wu was the Assistant General Counsel at Public Storage (NYSE: PSA), the world’s largest owner, operator, and developer of self-storage facilities, from 2019 to February 2021. Prior to Public Storage, Ms. Wu served as the Associate General Counsel and Assistant Secretary at Dine Brands Global, Inc. (NYSE: DIN), one of the world’s largest full-service dining companies and franchisor of Applebee’s Grill + Bar, IHOP, and Fuzzy’s Taco Shop, from 2014 to 2019. Ms. Wu also previously served as Counsel at Amgen Inc. (NASDAQ: AMGN), one of the world’s largest independent biotechnology companies, from 2010 to 2014. Ms. Wu began her career as an associate in the Los Angeles office of Latham & Watkins LLP in 2007. Ms. Wu received a Bachelor of Science degree in Business Administration from the Haas School of Business at the University of California, Berkeley, and a Juris Doctor degree from the University of Southern California. | ||||||||
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• | Stephen J. Barnard, Chief Executive Officer; |
• | John M. Pawlowski, President and Chief Operating Officer; |
• | Bryan E. Giles, Chief Financial Officer; |
• | Joanne C. Wu, General Counsel and Secretary; and |
• | Juan A. Wiesner, former President of Central and South America, who served until November 1, 2025. |
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COMPONENT OF PAY | BASE SALARY | ANNUAL CASH INCENTIVE | LONG-TERM EQUITY INCENTIVE | ||||||||||||
• Fixed cash compensation based on the market-competitive value of the skills and knowledge required for each role. • Reviewed annually and adjusted when appropriate to maintain market competitiveness. • Increases are not automatic nor guaranteed. Increases are generally based on factors such as standard cost of living increases applicable to all employees, market competitiveness, individual and company performance and pay equity. • For fiscal 2025, our NEOs received salary increase ranging from 3% to 4.7%, largely aligned with the 4% cost of living adjustments provided to our employees generally. | • Annual cash incentives based 100% on a Company financial performance metric for our CEO; 80% on a Company financial performance metric and 20% on individual performance for our other NEOs who participate in our annual incentive plan. • Target cash bonus opportunity under the annual incentive plan was 100% of base salary for our CEO and President and Chief Operating Officer, 75% of base salary for other participating NEOs, and 25% for our former President of Central and South America. • For fiscal 2025, the Company achieved $110.76 Adjusted EBITDA, representing 110.76% of target performance, resulting in a 121.5% payout of target bonus opportunity on the Company performance metric. This resulted in a payout of 121.5% for the CEO, and a 117.2% payout for each other participating NEO based on 80% of bonus opportunity tied to financial performance and 20% of bonus opportunity tied to individual performance. | • Long-term equity incentive program with forward-looking equity awards intended to motivate and reward executives for future growth and financial performance and align the interests of executives and stockholders. • Long-term equity incentive grants are weighted 50/50 between performance-based PSUs and time-based RSUs. • Performance-based PSUs are earned based on financial performance over a three-year period and time-vested RSUs vest ratably over a three-year period. • Long term equity awards were awarded for fiscal 2025 at the same grant values as fiscal 2024. • 2023-2025 PSUs achieved $1.72 Cumulative Adjusted Net Income Per Share over the three-year performance period, representing 122% of target performance and a payout of 174% of target. | |||||||||||||
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* | Does not include All Other Compensation in the Summary Compensation Table. Other NEO Aggregate Pay Mix reflects an average of all NEOs other than our CEO, Mr. Barnard, and Mr. Wiesner, who did not participate in our annual cash incentive plan. |

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Key Compensation Philosophy Pillar | How Operationalized in Compensation Decisions | ||||
Enable Mission to attract and retain high caliber talent | • Target total compensation levels and incentive opportunities at market competitive levels. • Provide flexibility in structuring sign-on (hire) and promotional awards. | ||||
Link pay and performance | • Annual cash incentive plan based primarily on a prospective formulaic approach based on pre-established threshold/target/maximum Adjusted EBITDA goals, which is the predominant measure used by our peer group and reflects our core profitability and earning potential. • PSU component of long-term equity incentive plan uses a Cumulative Adjusted Net Income Per Share metric, which is communicated in quarterly earnings to stockholders and serves as a key performance indicator and input for analyst stock price targets. • A clawback policy enabling incentive compensation to be recouped. | ||||
Create alignment with stockholders | • Our compensation program utilizes a mix of multi-year PSUs and time-vested RSUs, with a 50/50 split. • PSUs are earned based on our performance against pre-established Cumulative Adjusted Net Income Per Share goals for the three-year performance period, thereby encouraging long-term value creation in alignment with the interests of our stockholders. • Total annual equity grants as a percentage of shares outstanding (burn rate) is reasonable relative to peers. • Robust stock ownership guidelines (5x for our CEO, 3x for our CFO and President and COO, and 1x for all other NEOs) ensures long-term alignment with stockholders. | ||||
Pay Magnitude | • Peer group data and comparisons are used with consideration given to the Company’s relative positioning on revenue, net income, market capitalization, and market capitalization divided by revenue • Size-appropriate compensation survey data is also used to fill data gaps and provide an additional layer of market data comparisons • Careful attention is paid to ensuring internal equity and retention | ||||
Role of Market Data | • General philosophy to provide competitive compensation with an understanding of percentile ranges of a size-appropriate peer group • Flexibility to reflect variations as appropriate based on unique individual factors | ||||
Mix of Pay | • Emphasis on variable at-risk compensation • Significant portion of compensation should be based on long-term equity incentives • Appropriate balance between annual and multi-year components based on performance | ||||
Risk Orientation | • Incentive plans should have appropriately challenging targets for threshold, target, and maximum payouts • Over 100% payout upside opportunities pursuant to annual cash incentive plan and PSUs provide ample leverage while the maximum payout caps on our annual cash incentive and our PSU programs mitigate against windfall payouts | ||||
Use of Discretion | • Very limited use of discretion in extraordinary circumstances ensures transparency and maintains integrity of plan designs; to-date, no discretionary awards have been made to executive officers when Company performance metrics have not been achieved. | ||||
Stockholder Alignment | • Program design and pay outcomes should reflect a significant mix of equity with robust stock ownership guidelines, increasing alignment and balancing stockholder interests with internal motivation/retention needs | ||||
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What we do | What we don’t do | ||||
• Base a significant portion of pay on financial performance • Align pay outcomes with performance • Use a trailing 30-day average stock price to determine number of shares granted • Use a pre-set grant date for annual equity grants to ensure full-year earnings information has been absorbed by the market prior to grant dates • Engage in a rigorous target-setting process for incentive metrics • Adhere to an acceptable equity award burn rate in line with peers • Provide limited perquisites • Prohibit short sales and hedging of the Company’s stock • Adhere to a clawback policy • Abide by stock ownership guidelines for directors and executive officers | • No repricing of stock options valued below exercise price • No tax gross-ups on perquisites (except for relocation) • No single trigger change-in-control acceleration for RSUs and cash payments • No tax gross ups on severance or change-in-control compensation | ||||
Fiscal 2025 Peer Group | |||||
• B&G Foods • Calavo Growers • CalMaine Foods • Farmer Bros. Co. • Fresh Del Monte Produce • J&J Snack Foods • John B. Sanfilippo & Son • Seneca Foods | • Sovos Brands, Inc. • SunOpta • The Hain Celestial Group • The Simply Good Foods Company • Utz Brands • Vita Coco Company • Vital Farms • Westrock Coffee Company | ||||
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Peer Group Data | Revenues (millions)(1) | Market Capitalization (millions)(2) | Market Capitalization/ Revenues | ||||||||
25th Percentile | 803 | 634 | 0.3 | ||||||||
50th Percentile (median) | 1,149 | 1,070 | 1.0 | ||||||||
Average | 1,381 | 1,378 | 1.3 | ||||||||
75th Percentile | 1,625 | 1,722 | 1.7 | ||||||||
Mission Percentile | 1,076 48th | 703 37th | 0.7 39th | ||||||||
(1) | Trailing 12-month (4 quarter) revenues as of 6/24/2024 |
(2) | Market capitalization as of 6/24/24 |
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NEO | Base Salary | YOY increase | |||||||||
Fiscal 2024 ($) | Fiscal 2025 ($) | % | |||||||||
Stephen J. Barnard | 800,000 | 832,000 | 4 | ||||||||
John M. Pawlowski | 600,000 | 624,000 | 4 | ||||||||
Bryan E. Giles | 487,000 | 510,000 | 4.7 | ||||||||
Joanne C. Wu | 450,000 | 468,000 | 4 | ||||||||
Juan A. Wiesner | 435,000 | 448,000 | 3 | ||||||||
CEO | ||
100% tied to Company Performance | ||
Metric: Adjusted EBITDA Performance range: 50% threshold, 100% target, 150% max Payouts: 0% at threshold, 100% at target, and 200% at maximum; linearly interpolated between performance levels and no payouts below threshold | ||
Maximum payout under 2025 annual cash incentive plan = 200% of target bonus opportunity | ||
Other Eligible NEOs | |||||
80% tied to Company Performance | 20% tied to Individual Performance | ||||
Metric: Adjusted EBITDA Performance range: 50% threshold, 100% target, 150% max Payouts: 0% at threshold, 100% at target, and 200% at maximum; linearly interpolated between performance levels and no payouts below threshold | Based on individual performance assessed at fiscal year end Maximum payout capped at 20% | ||||
Maximum payout under 2025 annual cash incentive plan = 180% of target bonus opportunity | |||||
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Threshold | Target | Maximum | Actual | |||||||||||
Performance Range (% of targeted FY 2025 Adjusted EBTIDA) | 50% | 100% | 150% | 110.76% | ||||||||||
FY 2025 Adjusted EBITDA Goals (000s) | $50,000 | $100,000 | $150,000 | $110,760 | ||||||||||
Payout (% of target) | 0% | 100% | 200% | 121.5% | ||||||||||
Net Income (in millions) | $40.54 | ||||
Adjustments (in millions) | $70.22 | ||||
Adjusted EBITDA (in millions) | $110.76 | ||||
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NEO | Target payout (100% achievement & 100% of bonus opportunity) ($) | Actual payout ($) | ||||||
Stephen J. Barnard | 832,000 | 1,010,880 | ||||||
John M. Pawlowski | 624,000 | 731,328 | ||||||
Bryan E. Giles | 382,500 | 448,290 | ||||||
Joanne C. Wu | 351,000 | 411,372 | ||||||
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NEO | Fiscal 2025 Total Equity Award Value ($)(1) | Fiscal 2025 RSUs Award Value ($) (50% of total) | Fiscal 2025 PSUs Award Value ($) (50% of total) | ||||||||
Stephen J. Barnard | 1,200,000 | 600,000 | 600,000 | ||||||||
John M. Pawlowski | 1,000,000 | 500,000 | 500,000 | ||||||||
Bryan E. Giles | 680,000 | 340,000 | 340,000 | ||||||||
Joanne C. Wu | 500,000 | 250,000 | 250,000 | ||||||||
Juan A. Wiesner | 200,000 | 100,000 | 100,000 | ||||||||
(1) | Reflects the grant values approved by the Compensation Committee. These values are converted to shares based on a trailing 30-day average stock price from the date of grant ($13.68 per share) consistent with our equity award grant practices. The values reported in the Summary Compensation Table and Grants of Plan-Based Awards Table reflect, as required by ASC 718, a closing stock price on the grant date of January 6, 2025 of $13.20 per share. |
Threshold | Target | Maximum | Actual Performance | |||||||||||
Performance Range (% of cumulative 3-year adjusted net income per share) | 70% | 100% | 130% | 122% | ||||||||||
Cumulative Adjusted Net Income Per Share | $0.99 | $1.41 | $1.83 | $1.72 | ||||||||||
PSUs payable as a % of target | 50% | 100% | 200% | 174% | ||||||||||
2025 | 2024 | 2023 | |||||||||
GAAP Net Income Attributable to Mission (in millions) | $37.7 | $36.7 | $(2.8) | ||||||||
Adjustments (in millions) | $18.5 | $16.1 | $16.1 | ||||||||
Adjusted Net Income (in millions) | $56.2 | $52.8 | $13.3 | ||||||||
Adjusted Net Income per share | $0.79 | $0.74 | $0.19 | ||||||||
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Position/Title | Stock Ownership Guideline ($ value) | ||||
CEO | 5x annual base salary | ||||
CFO/President/COO | 3x annual base salary | ||||
Other Section 16 Officers/SVPs | 1x annual base salary | ||||
• | Shares of common stock directly owned by an executive or their immediate family member; |
• | Common stock owned indirectly if the individual has an economic interest in the shares; and |
• | Unvested RSUs which are subject to time-based vesting only. |
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Covered Officers | Current and former “executive officers” who receive erroneously awarded compensation | ||||
Restatements covered | “Restatements” triggering recovery include the correction of not only material errors in previously reported periods (“Big R” restatements), but also immaterial errors in previously reported periods to avoid a material error in a current period that has not previously been reported (“little r” restatements) – no “fault” or misconduct is required | ||||
Recoverable Compensation | Erroneously awarded compensation subject to recovery includes excess incentive-based compensation that would not have been received based on a restated “financial reporting measure” | ||||
Incentive-Based Compensation | Incentive-based compensation is compensation that is granted, earned or vested based, in whole or in part, on the attainment of a financial reporting measure and received by an employee: (i) after the date he or she commences service as an executive officer; (ii) who served as an executive officer during the applicable performance period; and (iii) during the applicable “three year period” | ||||
Time period covered | Applies to incentive-based compensation “received” during the three fiscal years prior to date issuer is required to prepare a restatement (the “three-year period”). “Received” generally means the date the financial reporting measure is attained with respect to the incentive-based compensation, even if the payment or grant of the incentive-based compensation occurred after such date | ||||
Discretion | Generally none; certain limited impracticability exceptions apply where the direct cost of recovery to third parties, including reasonable legal expenses and consulting fees, would exceed the amount of recovery, the recovery would violate home-country law based on an opinion of counsel or it would jeopardize the qualified status of a tax-qualified retirement plan | ||||
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Name and Principal Position | Year | Salary ($) | Bonus ($)(1) | Stock Awards ($)(2) | Non-equity incentive plan compensation ($)(3) | All other compensation ($)(4) | Total ($) | ||||||||||||||||
Stephen J. Barnard, Chief Executive Officer | 2025 | 825,850 | — | 1,157,891 | 1,010,880 | 56,125 | 3,050,746 | ||||||||||||||||
2024 | 795,210 | — | 1,238,312 | 1,376,034 | 91,263 | 3,500,819 | |||||||||||||||||
2023 | 775,008 | — | 1,717,803 | — | 82,473 | 2,575,284 | |||||||||||||||||
John M. Pawlowski, President and Chief Operating Officer(5) | 2025 | 619,385 | 124,800 | 964,907 | 606,528 | 84,331 | 2,399,951 | ||||||||||||||||
2024 | 346,155 | 475,002 | 1,014,609 | — | 222,663 | 2,058,429 | |||||||||||||||||
Bryan E. Giles, Chief Financial Officer | 2025 | 502,781 | 76,502 | 656,146 | 371,790 | 81,145 | 1,688,364 | ||||||||||||||||
2024 | 484,782 | 73,051 | 701,711 | 502,591 | 76,611 | 1,838,746 | |||||||||||||||||
2023 | 467,354 | 70,875 | 584,051 | — | 73,594 | 1,195,874 | |||||||||||||||||
Joanne C. Wu, General Counsel and Secretary | 2025 | 464,540 | 70,200 | 482,460 | 341,172 | 79,104 | 1,437,476 | ||||||||||||||||
2024 | 444,804 | 67,501 | 515,960 | 464,408 | 74,674 | 1,567,347 | |||||||||||||||||
2023 | 410,146 | 62,400 | 429,445 | — | 70,808 | 972,799 | |||||||||||||||||
Juan A. Wiesner, Former President of Central and South America(7) | 2025 | 455,307(6) | — | 192,984 | — | 22,061 | 670,352 | ||||||||||||||||
2024 | 445,737(6) | 108,750 | 206,382 | — | 17,550 | 778,419 | |||||||||||||||||
2023 | 465,910(6) | 21,750 | 429,445 | — | 16,819 | 933,924 | |||||||||||||||||
(1) | For Mr. Pawlowski, Mr. Giles, and Ms. Wu, amounts represent the 20% discretionary portion of the annual cash incentive plan that was awarded based on a subjective performance review of the individual’s overall performance at the end of the fiscal year. |
(2) | Amounts reflect the grant date fair value of equity awards computed in accordance with Accounting Standards Codification Topic 718 (“ASC 718”), based on a closing stock price of our stock on the date of grant of $13.20 and, for our PSUs, a percentage earnout of 100% based on the probable outcome of the financial performance measure (Cumulative Adjusted Net Income Per Share) over the three-year performance period as of the grant date. Our RSUs vest ratably over three years following the date of grant. For the PSUs, Cumulative Adjusted Net Income Per Share is a performance condition as defined under ASC 718. The grant date fair values shown in this table are based on probable outcomes of this performance condition at target as of the grant date. The following are the grant date fair values of PSUs granted for fiscal 2025 based on the probable outcome and if the maximum level of performance on Cumulative Adjusted Net Income Per Share is achieved, resulting in a payout of 200%: |
NEO | Grant Date Fair Value of PSUs at Probable Outcome ($) | Grant Date Fair Value of PSUs at Maximum Outcome ($) | ||||||
Stephen J. Barnard | 578,939 | 1,157,878 | ||||||
John M. Pawlowski | 482,447 | 964,894 | ||||||
Bryan E. Giles | 328,073 | 656,146 | ||||||
Joanne C. Wu | 241,230 | 482,460 | ||||||
Juan A. Wiesner | 96,492 | 192,984 | ||||||
(3) | Amounts reflect annual cash incentive awards that were earned based on the achievement of pre-determined Company performance criteria set early in the fiscal year which comprised 80% of the annual cash incentive plan for Mr. Pawlowski, Mr. Giles, and Ms. Wu and 100% of the annual cash incentive plan for Mr. Barnard. Our performance against the Company performance criteria – Adjusted EBITDA – under the fiscal 2025 annual cash incentive plan was 110.76% of target. In 2023, no annual cash incentive was earned or paid based on failure to achieve threshold level of performance on Company performance metrics. |
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(4) | All Other Compensation for fiscal 2025 includes: |
Barnard | Pawlowski | Giles | Wu | Wiesner | |||||||||||||
401k matching contributions | 14,000 | 17,692 | 14,000 | 14,000 | — | ||||||||||||
Health insurance premiums | 25,277 | 34,599 | 34,599 | 34,599 | 18,498 | ||||||||||||
Incremental cost of personal use and maintenance of company-owned car | 5,633 | — | — | — | 3,563 | ||||||||||||
Incremental cost of personal use of company-chartered aircraft | 2,781 | — | — | — | — | ||||||||||||
Supplemental disability income premiums | 8,434 | 5,144 | 5,650 | 3,609 | — | ||||||||||||
Car allowance | — | 26,896 | 26,896 | 26,896 | — | ||||||||||||
Total | 56,125 | 84,331 | 81,145 | 79,104 | 22,061 | ||||||||||||
(5) | Mr. Pawlowski’s fiscal 2024 compensation reflects a hire date of April 1, 2024. |
(6) | Includes amounts paid in such fiscal year pursuant to a profit-sharing scheme required under Peruvian law. Such additional compensation is based on the application of a certain percentage applied to the prior year profits of our Peruvian operations and distributed to employees in the following year based on compensation and days worked. The amount paid to Mr. Wiesner under such profit-sharing scheme in fiscal 2025 was $9,125. |
(7) | Mr. Wiesner departed the Company on November 1, 2025. He was not eligible and did not receive any cash bonus for fiscal year 2025. As part of Mr. Wiesner’s separation agreement, the Company paid him a cash severance payment totaling $375,000 which includes $354,462 as part of the Peruvian regulatory incentive program for departing employees that encourage, and is payable only upon, the incorporation of a new company under Peruvian law and $20,538 representing additional severance pay. These amounts are not included in the table as they were payable after the conclusion of fiscal 2025. The separation agreement also includes, among other restrictions, a covenant not to compete for 18 months. In addition, Mr. Weisner has forfeited in all unvested RSUs at November 1, 2025, but continues to hold PSUs that will payout in accordance with their terms at the end of the respective performance period, pro-rated for time employed during the applicable performance period. |
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Name | Grant Date | Estimated future payouts under non-equity incentive plan awards(1) | Estimated future payouts under equity incentive plan awards(2) | All other stock awards: Number of shares or stock units (#)(3) | Grant date fair value of stock and options awards ($)(4) | ||||||||||||||||||||||||
Threshold ($) | Target ($) | Maximum ($) | Threshold (#) | Target (#) | Maximum (#) | ||||||||||||||||||||||||
Stephen J. Barnard | —(1) | 832,000 | 1,664,000 | ||||||||||||||||||||||||||
1/6/2025 | 21,930 | 43,859 | 87,718 | 578,939 | |||||||||||||||||||||||||
1/6/2025 | 43,860 | 578,952 | |||||||||||||||||||||||||||
John M. Pawlowski | —(1) | 499,200 | 998,400 | ||||||||||||||||||||||||||
1/6/2025 | 18,275 | 36,549 | 73,098 | 482,447 | |||||||||||||||||||||||||
1/6/2025 | 36,550 | 482,460 | |||||||||||||||||||||||||||
Bryan E. Giles | —(1) | 306,000 | 612,000 | ||||||||||||||||||||||||||
1/6/2025 | 12,427 | 24,854 | 49,708 | 328,073 | |||||||||||||||||||||||||
1/6/2025 | 24,854 | 328,073 | |||||||||||||||||||||||||||
Joanne C. Wu | —(1) | 280,800 | 561,600 | ||||||||||||||||||||||||||
1/6/2025 | 9,138 | 18,275 | 36,550 | 241,230 | |||||||||||||||||||||||||
1/6/2025 | 18,275 | 241,230 | |||||||||||||||||||||||||||
Juan A. Wiesner | — | — | — | ||||||||||||||||||||||||||
1/6/2025 | 3,655 | 7,310 | 14,620 | 96,492 | |||||||||||||||||||||||||
1/6/2025 | 7,310 | 96,492 | |||||||||||||||||||||||||||
(1) | At target, represents estimated payouts for the 80% of our annual cash incentive plan for 2025 based on achievement of a pre-established financial performance metric (Adjusted EBITDA) for Mr. Pawlowski, Mr. Giles, and Ms. Wu and 100% of our annual cash incentive plan for 2025 for Mr. Barnard. Maximum payout represents 200% of target for Mr. Barnard and 160% of target for Mr. Pawlowski, Mr. Giles, and Ms. Wu. Payouts commence once threshold performance is met and increase to 100% at target performance and 200% of target if maximum performance is achieved. In December 2025, the Compensation Committee approved annual cash incentive payout for this component of the 2025 annual cash incentive plan at 121.5% of target bonus opportunity based on the Company’s achievement at 110.76% of target. Values do not include the amount that may be earned under our annual cash incentive plan that is based on individual performance for Mr. Pawlowski, Mr. Giles, and Ms. Wu, representing 20% of target bonus opportunity, nor the potential bonus payment to Mr. Wiesner who does not participate in our annual incentive cash plan. Due to the subjective nature of each of these potential payments that are based on individual performance, they are considered bonuses and reflected as such in the Summary Compensation Table. |
(2) | Represents PSU awards under our long-term equity incentive program which are based on achievement of a pre-established financial performance metric (Cumulative Adjusted Net Income Per Share) over a three-year performance period (November 1, 2024 – October 31, 2027). Awards earned, if any, vest at the end of the three-year performance period. The number of PSUs granted (which equals the target number of PSUs) will be multiplied by a payout percentage, which can range from 50% at threshold performance to 200% at maximum performance, to determine the number of PSUs earned at the end of the performance period. No amounts are earned for below threshold performance. Shares of our common stock will be issued on a one-for-one basis for each PSU earned. Our PSUs were granted under our Mission Produce, Inc. 2020 Incentive Award Plan and do not earn or accrue dividends. |
(3) | Represents RSUs that vest ratably on the first, second and third anniversary of the grant date. |
(4) | Values are calculated using the closing price of our common stock on the grant date, which was $13.20 and assumes a probable outcome at target performance for the PSUs. Amounts reflect the grant date fair value of equity awards computed in accordance with ASC 718, which is lower than the value approved by the Compensation Committee, as more fully described in footnote 3 to the Summary Compensation Table. |
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Option awards | Stock awards | |||||||||||||||||||||||||
Name | Number of securities underlying unexercised options (#) exercisable | Number of securities underlying unexercised options (#) unexercisable | Option exercise price ($) | 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 ($)(1) | Equity incentive plan awards: number of unearned units, or other rights have not vested (#) | Equity incentive plan awards: market or payout value of unearned shares, units or other rights have not vested ($)(1) | ||||||||||||||||||
Stephen J. Barnard | 1,699,770 | $13.74 | 7/9/2029 | 113,999(2) | 1,313,268 | 100,723(3) | 1,160,333(3) | |||||||||||||||||||
— | 123,584(4) | 1,423,688(4) | ||||||||||||||||||||||||
87,718(5) | 1,010,511(5) | |||||||||||||||||||||||||
John M. Pawlowski | 65,188(2) | 750,966 | 85,910(4) | 989,683(4) | ||||||||||||||||||||||
73,098(5) | 842,089(5) | |||||||||||||||||||||||||
Bryan E. Giles | 105,723 | — | $12.00 | 9/30/2030 | 58,039(2) | 668,609 | 34,247(3) | 394,522(3) | ||||||||||||||||||
70,030(4) | 806,746(4) | |||||||||||||||||||||||||
49,708(5) | 572,636(5) | |||||||||||||||||||||||||
Joanne C. Wu | 42,676(2) | 491,628 | 25,181(3) | 290,088(3) | ||||||||||||||||||||||
51,492(4) | 593,188(4) | |||||||||||||||||||||||||
36,550(5) | 421,056(5) | |||||||||||||||||||||||||
Juan A. Wiesner | 20,787 | — | $12.00 | 9/30/2030 | 21,412(2)(6) | 246,666 | 25,181(3) | 290,088(3)(6) | ||||||||||||||||||
20,596(4)(6) | 237,266(4)(6) | |||||||||||||||||||||||||
14,620(5)(6) | 168,422(5)(6) | |||||||||||||||||||||||||
(1) | Value calculated using the closing stock price of our common stock on October 31, 2025 of $11.52. |
(2) | Amounts include the following outstanding unvested RSUs. Each vesting is subject to the individual’s continued employment through the vesting dates. |
Name | Outstanding Unvested Shares | Grant Date | Future Vesting Dates | Shares Vesting on Vesting Date | ||||||||||
Stephen J. Barnard | 28,944 | 1/6/2023 | 1/6/2026 | 28,944 | ||||||||||
41,195 | 1/5/2024 | 1/5/2026 and 1/5/2027 | 20,597 on the first vesting date and 20,598 on the second vesting date | |||||||||||
43,860 | 1/6/2025 | 1/6/2026, 1/6/2027, and 1/6/2028 | 14,620 on each vesting date | |||||||||||
John M. Pawlowski | 28,638 | 4/5/2024 | 4/5/2026 and 4/5/2027 | 14,319 on each of vesting date | ||||||||||
36,550 | 1/6/2025 | 1/6/2026, 1/6/2027, and 1/6/2028 | 12,183 on the first and second vesting dates and 12,184 on the third vesting date | |||||||||||
Bryan E. Giles | 9,841 | 1/6/2023 | 1/6/2026 | 9,841 | ||||||||||
23,344 | 1/5/2024 | 1/5/2026 and 1/5/2027 | 11,672 on each vesting date | |||||||||||
24,854 | 1/6/2025 | 1/6/2026, 1/6/2027, and 1/6/2028 | 8,284 on the first vesting date and 8,285 on the second and third vesting dates | |||||||||||
Joanne C. Wu | 7,236 | 1/6/2023 | 1/6/2026 | 7,236 | ||||||||||
17,165 | 1/5/2024 | 1/5/2026 and 1/5/2027 | 8,582 on the first vesting date and 8,583 on the second vesting date | |||||||||||
18,275 | 1/6/2025 | 1/6/2026, 1/6/2027, and 1/6/2028 | 6,091 on the first vesting date and 6,092 on the second and third vesting dates | |||||||||||
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Name | Outstanding Unvested Shares | Grant Date | Future Vesting Dates | Shares Vesting on Vesting Date | ||||||||||
Juan A. Wiesner | 7,236 | 1/6/2023 | 1/6/2026 | 7,236 | ||||||||||
6,866 | 1/5/2024 | 1/5/2026 and 1/5/2027 | 3,433 on each vesting date | |||||||||||
7,310 | 1/6/2025 | 1/6/2026, 1/6/2027, and 1/6/2028 | 2,436 on the first vesting date and 2,437 on the second and third vesting dates | |||||||||||
(3) | Represents our 2023-2025 PSUs granted for the three-year performance period from November 1, 2022 through October 31, 2025, multiplied by a 174% payout percentage based on actual performance achieved at the end of the three-year performance period at 122% of target based on our Cumulative Adjusted Net Income Per Share performance over the performance period. Service through the January 6, 2026 vesting date is required, except for certain qualifying terminations. |
(4) | Represents our 2024-2026 PSUs granted for the three-year performance period from November 1, 2023 through October 31, 2026, multiplied by a 200% payout percentage based on maximum performance. As required by SEC rules, the maximum payout percentage is disclosed in the table because the estimated payout percentage as of October 31, 2025 is above target performance |
(5) | Represents our 2025-2027 PSUs granted for the three-year performance period from November 1, 2024 through October 31, 2027, multiplied by a 200% payout percentage based on maximum performance. As required by SEC rules, the maximum payout percentage is disclosed in the table because the estimated payout percentage as of October 31, 2025 is above target performance. |
(6) | Upon Mr. Wiesner’s departure from the Company on November 1, 2025, all of his unvested RSUs were forfeited. Mr. Wiesner will continue to participate in the outstanding PSU programs and any payout will be based on actual performance at the end of the performance periods, pro-rated for length of time served during the performance period which is in line with our standard PSU award agreement. |
| Option Awards | Stock Awards | ||||||||||||
Name | Number of shares acquired on exercise (#) | Value realized on exercise ($)(1) | Number of shares acquired on vesting (#) | Value realized on vesting ($)(2) | ||||||||||
Stephen J. Barnard | — | — | 76,283 | 1,049,542 | ||||||||||
John M. Pawlowski | — | — | 14,318 | 144,612 | ||||||||||
Bryan E. Giles | 15,000 | 35,932 | 28,199 | 388,749 | ||||||||||
Joanne C. Wu | — | — | 22,410 | 305,377 | ||||||||||
Juan A. Wiesner | — | — | 17,355 | 238,193 | ||||||||||
(1) | Represents the aggregate of the closing market price at exercise, less the exercise price, for each share exercised. |
(2) | Calculated using the closing stock price on the date of vesting. |
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Name | Executive contributions in fiscal 2025(1)($) | Registrant contributions in fiscal 2025 | Aggregate earnings in fiscal 2025(2)($) | Aggregate withdrawals/ distributions in fiscal 2025($) | Aggregate balance as of October 31, 2025(3)($) | ||||||||||||
Stephen J. Barnard | 223,266 | — | 314,576 | — | 1,743,846 | ||||||||||||
Bryan E. Giles | 147,931 | — | 49,012 | (143,029) | 456,119 | ||||||||||||
(1) | These amounts represent compensation earned by the NEOs in fiscal 2025 and are also reported in the appropriate columns in the “Summary Compensation Table” above. |
(2) | Represents net amounts credited to the NEO’s accounts as a result of performance of the investment vehicle in which their accounts were deemed invested. These amounts do not represent above-market earnings, and thus are not reported in the “Summary Compensation Table.” |
(3) | Aggregate balance as of October 31, 2025 includes all contributions from earned compensation, plus investment income, through fiscal 2025. These balances include the following aggregate amounts that are reported as compensation in this proxy statement in the “Summary Compensation Table” for fiscal years 2025, 2024, and 2023: $302,690 for Mr. Barnard and $389,743 for Mr. Giles. |
Fund Name | Fiscal 2025 Cumulative Annual Returns (%) | Fund Name | Fiscal 2025 Cumulative Annual Returns (%) | ||||||||
DWS RREEF Real Assets Fund - Class Inst | 9.97 | Fidelity Freedom® Retirement Fund Class K6 | 9.93 | ||||||||
Fidelity® U.S. Bond Index Fund | 6.78 | Fidelity® Government Money Market Fund Class K6 | 3.48 | ||||||||
PGIM Total Return Bond Fund -Class R6 | 7.24 | Cohen & Steers Realty Shares Fund Class L | 2.87 | ||||||||
Fidelity® 500 Index Fund | 17.50 | DFA U.S. Small Cap Portfolio Institutional Class | 5.15 | ||||||||
Parnassus Core Equity Fund - Institutional Shares | 12.02 | Fidelity Freedom® 2020 Fund Class K6 | 14.10 | ||||||||
JPMorgan Large Cap Growth Fund Class R6 | 19.44 | Fidelity Freedom® 2025 Fund Class K6 | 15.55 | ||||||||
Dodge & Cox Stock Fund Class X | 10.27 | Fidelity Freedom® 2030 Fund Class K6 | 16.60 | ||||||||
Fidelity® Extended Market Index Fund | 12.53 | Fidelity Freedom® 2035 Fund Class K6 | 17.92 | ||||||||
Carillon Eagle Mid Cap Growth Fund Class I | 8.36 | Fidelity Freedom® 2040 Fund Class K6 | 20.38 | ||||||||
John Hancock Funds Disciplined Value Mid Cap Fund Class R6 | 9.65 | Fidelity Freedom® 2045 Fund Class K6 | 21.78 | ||||||||
Fidelity® Global ex U.S. Index Fund | 29.20 | Fidelity Freedom® 2050 Fund Class K6 | 21.76 | ||||||||
The Hartford International Opportunities Fund Class R6 | 25.19 | Fidelity Freedom® 2055 Fund Class K6 | 21.74 | ||||||||
Fidelity® Select Health Care Portfolio | 8.87 | Fidelity Freedom® 2060 Fund Class K6 | 21.83 | ||||||||
Fidelity Freedom® 2010 Fund Class K6 | 10.89 | Fidelity Freedom® 2065 Fund Class K6 | 21.77 | ||||||||
Fidelity Freedom® 2015 Fund Class K6 | 12.45 | Fidelity Freedom® 2070 Fund Class K6 | 21.35 | ||||||||
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• | in the event of death or disability, the number of PSUs earned is based on target performance and are pro-rated based on the number of months of service during each performance period; |
• | in the event of termination by the Company without “Cause” or by executive for “Good Reason”, the number of PSUs earned is based on actual performance at the end of the performance period, pro-rated based on number of months of service during the performance period; and |
• | upon a Change-in-Control, if outstanding awards are not continued, converted, assumed, or replaced with a substantially similar award, the number of PSUs earned is based on the greater of actual performance and target performance, without pro-rating, utilizing the date of the most recent fiscal quarter end prior to a Change in Control as the last day of the relevant performance period. The definitions of “Cause”, “Change in Control”, and “Good Reason” under the PSU award agreement are generally the same as those for the Executive Severance Plan. |
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Name and Principal Position | Triggering Event | Cash Severance ($) | Health Benefits ($) | Equity Award Value ($) | Total ($) | ||||||||||||
Stephen J. Barnard Chief Executive Officer | Qualifying Termination within CIC Period | 3,328,000(2) | 47,588(1) | 3,197,226(3) | 6,572,814 | ||||||||||||
Qualifying Termination (not within CIC Period) | 3,328,000(4) | 47,588(1) | 2,990,528(5) | 6,366,116 | |||||||||||||
Death or Disability | — | 287,588(8) | 1,309,839(6) | 1,597,427 | |||||||||||||
John M. Pawlowski President and Chief Operating Officer | Qualifying Termination within CIC Period | 1,872,000(2) | 67,056(1) | 1,666,852(3) | 3,605,908 | ||||||||||||
Qualifying Termination (not within CIC Period) | 1,248,000(4) | 67,056(1) | 1,100,687(5) | 2,415,743 | |||||||||||||
Death or Disability | — | 2,117,056(8) | 470,243(6) | 2,587,298 | |||||||||||||
Bryan E. Giles Chief Financial Officer | Qualifying Termination within CIC Period | 1,338,750(2) | 67,056(1) | 1,585,037(3) | 2,990,843 | ||||||||||||
Qualifying Termination (not within CIC Period) | 892,500(4) | 67,056(1) | 1,370,209(5) | 2,329,765 | |||||||||||||
Death or Disability | — | 1,477,056(8) | 591,091(6) | 2,068,147 | |||||||||||||
Joanne C. Wu General Counsel and Secretary | Qualifying Termination within CIC Period | 1,228,500(2) | 67,056(1) | 1,165,467(3) | 2,461,023 | ||||||||||||
Qualifying Termination (not within CIC Period) | 819,000(4) | 67,056(1) | 1,007,495(5) | 1,893,551 | |||||||||||||
Death or Disability | — | 2,797,056(8) | 434,623(6) | 3,231,678 | |||||||||||||
Juan A. Wiesner Former President of Central and South America | Qualifying Termination (not within CIC Period) | 375,000(7) | — | 494,449(5) | 869,449 | ||||||||||||
(1) | Represents premiums for 12-months of COBRA coverage substantially similar to that provided under the Company’s health plan. |
(2) | Represents a lump sum cash payment (a) for Mr. Barnard, equal to 2.0 times the sum of his base salary plus target annual bonus, and (b) for the other NEOs, equal to 1.5 times the sum of the Covered Executive’s base salary plus target annual bonus under the annual cash incentive plan. |
(3) | Represents the value of full vesting of outstanding unvested RSUs, plus the value of the outstanding 2023-2025, 2024-2026 and 2025-2027 PSUs based on the number of PSUs earned at target level performance. In addition, stock options would be exercisable for 12 months following termination. |
(4) | Represents a lump sum cash payment (a) for Mr. Barnard, equal to 2.0 times the sum of his base salary plus target annual bonus, and (b) for the other NEOs, except Mr. Wiesner, equal to 1.0 times the sum of the Covered Executive’s base salary plus target annual bonus under the annual cash incentive plan. |
(5) | For all NEOs, other than Mr. Wiesner, includes the value of pro-rata vesting of outstanding unvested RSUs based on days served during the vesting period. For all NEOs, also includes the value of PSUs based on the actual or estimated, as applicable, number of PSUs that would have been earned based on actual performance through October 31, 2025, prorated based on days elapsed during the three-year performance period. The payout percentages based on actual performance through October 31, 2025 were: (i) based on actual performance for the 2023-2025 PSUs, resulting in a |
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(6) | In the event of death or disability, represents the value of the outstanding 2024-2026 PSUs and the 2025-2027 PSUs based on the number of PSUs earned at target level performance, pro-rated based on the number of full months elapsed during the performance period. In the event of death or disability unvested RSUs are forfeited. In addition, stock options would be exercisable for 12 months following death or disability. |
(7) | Represents the severance payments to Mr. Wiesner made in connection with his departure on November 1, 2025, which includes $354,462 as part of the Peruvian regulatory incentive program for departing employees that encourage, and is payable only upon, the incorporation of a new company under Peruvian law and $20,538 representing additional severance pay. |
(8) | Represents (a) group long-term disability insurance benefits of $10,000 per month, for benefit periods which are determined based on the covered executive’s age at the time of disability, and (b) premiums for 12-months of COBRA coverage substantially similar to that provided under the Company’s health plan. |
Plan Category | Number of shares to be issued upon exercise of outstanding options, warrants and rights | Weighted-average exercise price of outstanding options, warrants and rights($) | Number of shares remaining available for future issuance under equity compensation plans (excluding shares reflected in the first column) | ||||||||
Equity compensation plans approved by security holders | 3,187,861(1) | $13.45(2) | 7,739,257(3) | ||||||||
Equity compensation plans not approved by security holders | N/A | N/A | N/A | ||||||||
(1) | Comprised of shares to be issued upon: (i) exercise of 2,046,639 outstanding stock options; (ii) vesting of 570,610 unvested RSUs outstanding; (iii) distribution of 55,345 vested and deferred RSUs; and (iv) payout of 515,267 PSUs for the 2023-2025 PSU program, 2024-2026 PSU program, and 2025-2027 PSU program, at target, which is the probable outcome on the grant date. |
(2) | The weighted-average exercise price was based on 2,046,639 stock options outstanding. |
(3) | Assumes achievement at target, which is the probable outcome on the grant date, related to 515,267 outstanding PSUs. Assuming threshold performance, the remaining shares available for issuance would be 7,996,891. Assuming maximum performance, the remaining shares available for issuance would be 7,223,990. |
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• | Late Form 4 was filed on November 14, 2025 disclosing purchases made on November 11, 2025 |
• | Late Form 4 was filed on November 14, 2025 disclosing purchases made on November 10, 2025. |
• | Late Form 4 was filed on December 30, 2025 disclosing purchases made on December 23, 2025 and December 24, 2025 |
• | Late Form 4 was filed on January 5, 2026 disclosing purchases made on December 30, 2025 |
• | Late Form 4 was filed on January 20, 2026 disclosing purchases made on January 9, 2026 and January 15, 2026 |
• | Late Form 4 was filed on January 21, 2026 disclosing purchases made on January 16, 2026 |
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Total Annual Compensation – Median Employee | Total Annual Compensation – CEO | 2025 CEO Pay Ratio | ||||||
$5,759 | $3,050,746 | 530:1 | ||||||
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(a) | (b) | (c) | (d) | (e) | (f) | (g) | (h) | (i) | ||||||||||||||||||
Value of Initial Fixed $100 Investment Based on: | ||||||||||||||||||||||||||
Year | Summary Compensation Table Total for PEO ($) | Compensation Actually Paid to PEO ($)(1)(3) | Average Summary Compensation Table Total for Non-PEO NEOs ($) | Average Compensation Actually Paid to Non-PEO NEOs ($)(1)(3) | Total Shareholder Return ($)(2) | Peer Group Total Shareholder Return ($)(2) | Net Income (Loss) ($millions) | Adjusted EBITDA ($millions)(4) | ||||||||||||||||||
2025 | ||||||||||||||||||||||||||
2024 | ||||||||||||||||||||||||||
2023 | ( | ( | ||||||||||||||||||||||||
2022 | ( | |||||||||||||||||||||||||
2021 | ||||||||||||||||||||||||||
(1) | Amounts represent compensation actually paid to our PEO and the average compensation actually paid to our remaining NEOs for the relevant fiscal year, as determined under SEC rules (and described below), which includes the individuals indicated in the table below for each fiscal year: |
Year | PEO | Non-PEO NEOs | ||||||
2025 | Bryan E. Giles, John M. Pawlowski, Juan A. Wiesner, Joanne C. Wu | |||||||
2024 | Bryan E. Giles, John M. Pawlowski, Juan A. Wiesner, Joanne C. Wu | |||||||
2023 | Bryan E. Giles, Juan A. Wiesner, Joanne C. Wu, Timothy A. Bulow | |||||||
2022 | Bryan E. Giles, Juan A. Wiesner, Joanne C. Wu, Timothy A. Bulow | |||||||
2021 | Bryan E. Giles, Juan A. Wiesner, Joanne C. Wu, Michael A. Browne | |||||||
2025 | 2024 | 2023 | 2022 | 2021 | ||||||||||||||||||||||||||||
Adjustments | PEO ($) | Average Non-PEO NEOs ($) | PEO ($) | Average Non-PEO NEOs ($) | PEO ($) | Average Non-PEO NEOs ($) | PEO ($) | Average Non-PEO NEOs ($) | PEO ($) | Average Non-PEO NEOs ($) | ||||||||||||||||||||||
Summary Compensation Table Total | ||||||||||||||||||||||||||||||||
Deduction for Amounts Reported under the “Stock Awards” and “Option Awards” Columns in the Summary Compensation Table for Applicable FY | ( | ( | ( | ( | ( | ( | ( | ( | ( | |||||||||||||||||||||||
Increase based on ASC 718 Fair Value of Awards Granted during Applicable FY that Remain Unvested as of Applicable FY End, determined as of Applicable FY End | ||||||||||||||||||||||||||||||||
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2025 | 2024 | 2023 | 2022 | 2021 | ||||||||||||||||||||||||||||
Adjustments | PEO ($) | Average Non-PEO NEOs ($) | PEO ($) | Average Non-PEO NEOs ($) | PEO ($) | Average Non-PEO NEOs ($) | PEO ($) | Average Non-PEO NEOs ($) | PEO ($) | Average Non-PEO NEOs ($) | ||||||||||||||||||||||
Increase based on ASC 718 Fair Value of Awards Granted during Applicable FY that Vested during Applicable FY, determined as of Vesting Date | ||||||||||||||||||||||||||||||||
Increase/deduction for Awards Granted during Prior FY that were Outstanding and Unvested as of Applicable FY End, determined based on change in ASC 718 Fair Value from Prior FY End to Applicable FY End | ( | ( | ( | ( | ||||||||||||||||||||||||||||
Increase/deduction for Awards Granted during Prior FY that Vested During Applicable FY, determined based on change in ASC 718 Fair Value from Prior FY End to Vesting Date | ( | ( | ( | ( | ( | |||||||||||||||||||||||||||
Deduction of ASC 718 Fair Value of Awards Granted during Prior FY that were Forfeited during Applicable FY, determined as of Prior FY End | ( | |||||||||||||||||||||||||||||||
TOTAL ADJUSTMENTS | ( | ( | ( | ( | ||||||||||||||||||||||||||||
COMPENSATION ACTUALLY PAID | ( | |||||||||||||||||||||||||||||||
(2) | For the relevant fiscal year, represents the cumulative TSR (the “Peer Group TSR”) of the Nasdaq U.S. Smart Food & Beverage Total Return Index. |
(3) | Fair value or change in fair value, as applicable, of equity awards in the “Compensation Actually Paid” columns was determined by reference to (i) for RSUs, the closing price per share on the applicable year-ends ($ |
Assumption | Value range used for reporting dates and applicable vesting dates | Value range used in grant date fair value | ||||||
Volatility | ||||||||
Risk-free interest rate | ||||||||
Expected term | ||||||||
Dividend yield | ||||||||
Forfeiture rate | ||||||||
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(4) | In fiscal 2021, 2022 and 2023, the Company Selected Measure was adjusted operating income as that was the financial performance measure used under our annual cash incentive plan for those years. For fiscal 2024 and onwards, the Compensation Committee established |
Fiscal Years Ended October 31, | |||||||||||||||||
(In millions) | 2025 | 2024 | 2023 | 2022 | 2021 | ||||||||||||
Net income (loss) | $ | $ | $( | $( | $ | ||||||||||||
Interest expense | |||||||||||||||||
Provision for income taxes | |||||||||||||||||
Depreciation and amortization | |||||||||||||||||
Equity method income | ( | ( | ( | ( | ( | ||||||||||||
Stock-based compensation | |||||||||||||||||
Severance | |||||||||||||||||
Legal settlement | |||||||||||||||||
Asset impairment and disposals, net of insurance recoveries | ( | ||||||||||||||||
Farming costs for nonproductive orchards | |||||||||||||||||
ERP costs | |||||||||||||||||
Goodwill impairment | |||||||||||||||||
Remeasurement gain on business combination with Moruga | ( | ||||||||||||||||
Advisory costs | |||||||||||||||||
Amortization of inventory adjustment recognized from business combination | |||||||||||||||||
Canada site closures | |||||||||||||||||
Tariffs(1) | |||||||||||||||||
Other (income) expense, net | ( | ( | ( | ( | |||||||||||||
Noncontrolling interest | ( | ( | ( | ( | |||||||||||||
Adjusted EBITDA | $ | $ | $ | $ | $ | ||||||||||||
(1) | Short-lived temporary tariffs imposed on Mexican imports for three days during the fiscal year. |
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Mission Produce, Inc. Common Stock | ||||||||
Name of Beneficial Owner | Total Common Stock Beneficially Owned | Percent of Total | ||||||
Globalharvest Holdings Venture Ltd. | 9,770,608(1) | 13.79% | ||||||
(1) | Based solely on the Schedule 13D/A filed with the SEC on January 26, 2026 by Globalharvest Holdings Venture Ltd., and listing Jose Bouzas as a reporting person, reporting beneficial ownership as of January 21, 2026. Globalharvest Holdings Venture Ltd. reports sole power to vote or direct the vote with respect to all shares and sole power to dispose or direct the disposition of all shares. |
Mission Produce, Inc. Common Stock | ||||||||
Name of Beneficial Owner | Total Common Stock Beneficially Owned | Percentage of Total | ||||||
Stephen J. Barnard | 5,504,961(1) | 7.77% | ||||||
Stephen A. Beebe | 156,461(2) | |||||||
Laura Flanagan | 7,247(3) | |||||||
Luis A. Gonzalez | 8,203,823(4) | 11.58% | ||||||
Bonnie C. Lind | 55,335(5) | |||||||
Jay A. Pack | 1,623,594(6) | 2.29% | ||||||
Tony Bashir Sarsam | 25,030(7) | |||||||
Michael B. Sims | 9,968(8) | |||||||
Linda B. Segre | 56,981(9) | |||||||
Douglas M. Stone | 3,397(10) | |||||||
Bruce C. Taylor | 5,917,458(11) | 8.35% | ||||||
John M. Pawlowski | 30,691(12) | |||||||
Bryan E. Giles | 208,886(13) | |||||||
Joanne C. Wu | 49,641 | |||||||
All executive officers and directors as a group (14 persons) | 21,853,473(14) | 30.85% | ||||||
* | Less than 1%. |
(1) | Amounts include: (i) 185,541 shares held directly; (ii) 50,062 shares held indirectly by Barnard Properties, LLC; (iii) 1,784,794 shares held indirectly by the Shelly R. Barnard GT Trust; (iv) 1,784,794 shares held indirectly by the |
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(2) | Includes (i) 25,226 shares held directly; (ii) 63,699 shares held indirectly by the Debra Beebe Bypass Trust; and (iii) 67,536 shares held indirectly by the Stephen and Debra Beebe Family Trust. Does not include 16,849 RSUs that are scheduled to vest within 60 days of February 10, 2026 but that are deferred under the Company’s Deferred Compensation Plan. Also does not include 17,282 vested RSUs that have been deferred under the Company’s Deferred Compensation Plan. Mr. Beebe has resigned his position as a director effective as of the close of the Annual Meeting. |
(3) | Includes 7,247 RSUs scheduled to vest within 60 days of February 10, 2026. |
(4) | Represents: (i) 29,880 shares held directly; (ii) 10,902 RSUs scheduled to vest within 60 days of February 10, 2026; (ii) 7,175,319 shares held indirectly by Beldar Enterprises, of which 3,500,000 shares are pledged; (iii) 310,000 shares held by Corp SA 1; (iv) 256,722 shares held by Corp SA 2; (v) 310,000 shares held by Corp SA 3; and (vi) 111,000 shares held by Corp SA 4. Corp SA 1, Corp SA 2, Corp SA 3, and Corp SA 4 are abbreviations for four affiliates corporations that are organized under the laws of Panama. Mr. Gonzalez and Ms. Vallejos Hinojosa share power to vote and dispose the shares held by Beldar Enterprises. Ms. Vallejos Hinojosa has full pecuniary interest in the shares held by Beldar Enterprises. Mr. Gonzalez does not have any direct pecuniary interest in the shares held by Beldar Enterprises and disclaims beneficial interest in such shares. Mr. Gonzalez and Ms. Hinojosa indirectly share power to vote and dispose of the shares held by each of Corp SA 1, Corp SA 2, Corp SA 3, and Corp SA 4 and have shared pecuniary interest in these shares during their lifetime. 3,500,000 shares held by Beldar Enterprises have been pledged. |
(5) | Includes 44,433 shares held directly and 10,902 RSUs scheduled to vest within 60 days of February 10, 2026. Does not include 12,146 vested RSUs that have been deferred under the Company’s Deferred Compensation Plan. Ms. Lind is not standing for re-election to the Board at the Annual Meeting. |
(6) | Includes (i) 362,162 shares held directly; (ii) 1,015,160 shares held indirectly by PFP Investments, Ltd. over which Mr. Pack shares power to vote and dispose of shares with his spouse; (iii) 123,136 shares held indirectly by the JP 2018 GRAT; and (iv) 123,136 shares held indirectly by the RP 2018 GRAT. Does not include 10,902 RSUs scheduled to vest within 60 days of February 10, 2026 but that are deferred under the Company’s Deferred Compensation Plan and 22,661 vested RSUs that have been deferred under the Company’s Deferred Compensation Plan. |
(7) | Includes 14,128 shares directly held and 10,902 RSUs which are scheduled to vest within 60 days of February 10, 2026. |
(8) | Includes 9,968 RSUs scheduled to vest within 60 days of February 10, 2026. |
(9) | Includes 46,079 shares directly held and 10,902 RSUs scheduled to vest within 60 days of February 10, 2026. |
(10) | Includes 3,397 RSUs scheduled to vest within 60 days of February 10, 2026. |
(11) | Includes: (i) 726,363 shares held directly; (ii) 10,902 RSUs scheduled to vest within 60 days of February 10, 2026; and (iii) 5,180,193 shares held indirectly by Taylor Family Investments LLC. Mr. Taylor has sole voting and dispositive power of all shares but disclaims beneficial ownership of the shares held by Taylor Family Investments LLC, except to the extent of any pecuniary interest therein. |
(12) | Includes 16,372 shares held directly and 14,319 RSUs scheduled to vest within 60 days of February 10, 2026. |
(13) | Includes 103,163 shares held directly and 105,723 shares subject to options that are vested. |
(14) | Includes an aggregate of 89,441 RSUs scheduled to vest within 60 days of February 10, 2026 (exclusive of any RSUs scheduled to vest within 60 days but deferred under the Company’s Deferred Compensation Plan) and an aggregate of 1,805,493 options that are vested. |
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• | A competitive, market-driven base salary; |
• | An annual cash incentive award that is exclusively for our CEO, and primarily for our other NEOs, focused on our financial performance against Adjusted EBITDA goals; |
• | Equity awards, consisting of a 50/50 mix of three-year, performance-based share units earned based on Cumulative Adjusted Net Income Per Share and time-vested restricted stock units; and |
• | Robust stock ownership guidelines that promote continued alignment of our executives’ interests with those of our stockholders and discourage excessive risk taking for short-term gains. |
The Board of Directors recommends a vote “FOR” the advisory vote on the compensation of our NEOs. | ||
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The Board of Directors recommends a vote “FOR” the ratification of the appointment of Deloitte & Touche LLP as the Company’s independent registered public accounting firm for the fiscal year ending October 31, 2026. | ||
Type | 2025 Fees ($) | 2024 Fees ($) | ||||||
Audit | 2,797,270 | 2,647,100 | ||||||
Audit-Related | — | — | ||||||
Tax | 167,786 | 175,926 | ||||||
Other | 1,895 | 1,895 | ||||||
Total | 2,966,951 | 2,824,921 | ||||||
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• | reviewed and discussed the Company’s audited financial statements for the fiscal year ended October 31, 2025 with the Company’s management and with the Company’s independent registered public accounting firm, Deloitte; |
• | discussed with Deloitte, the matters required to be discussed by the applicable requirements of the Public Company Accounting Oversight Board (“PCAOB”) and the SEC; and |
• | received the written disclosures and the letter from Deloitte required by applicable requirements of the PCAOB regarding Deloitte’s communications with the Audit Committee concerning independence and discussed the independence of Deloitte with that firm. |
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Years Ended October 31, | |||||||||||
(In millions, except for per share amounts) | 2025 | 2024 | 2023 | ||||||||
Net income (loss) attributable to Mission Produce | $37.7 | $36.7 | $(2.8) | ||||||||
Stock-based compensation | 8.8 | 7.1 | 4.5 | ||||||||
Unrealized loss on derivative financial instruments | — | 0.6 | 2.3 | ||||||||
Foreign currency transaction loss (gain) | 1.0 | (1.6) | 1.8 | ||||||||
Losses on asset impairment and disposals | 3.9 | 3.9 | 1.3 | ||||||||
Farming costs for nonproductive orchards | 3.5 | 4.2 | 3.8 | ||||||||
Recognition of deferred ERP costs | 2.2 | 2.2 | 2.2 | ||||||||
Canada site closures | 1.1 | — | — | ||||||||
Advisory costs | 1.2 | — | 0.3 | ||||||||
Tariffs | 1.1 | — | — | ||||||||
Depreciation-blueberries | — | 4.1 | — | ||||||||
Severance | — | 1.3 | 1.3 | ||||||||
Legal settlement | — | 0.2 | — | ||||||||
Amortization of intangible asset recognized from business combination | — | 0.5 | 1.5 | ||||||||
Amortization of inventory adjustment recognized from business combination | — | — | 0.7 | ||||||||
Tax effects of adjustments to net income attributable to Mission Produce | (5.2) | (4.2) | (4.1) | ||||||||
Discrete tax charges for change in Peruvian tax rates and other | 1.5 | — | 1.8 | ||||||||
Noncontrolling interest | (0.6) | (2.2) | (1.3) | ||||||||
Mission Produce adjusted net income | $56.2 | $52.8 | $13.3 | ||||||||
Mission Produce adjusted net income per diluted share | $0.79 | $0.74 | $0.19 | ||||||||
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(In millions) | FY 2025 | ||||
Net income | $40.54 | ||||
Interest expense | 9.39 | ||||
Provision for income taxes | 21.38 | ||||
Depreciation and amortization | 34.58 | ||||
Equity method income | (5.41) | ||||
Stock-based compensation | 8.80 | ||||
Losses on asset impairment, disposals and sales, net of insurance recoveries | 3.91 | ||||
Farming costs for nonproductive orchards | 1.80 | ||||
Recognition of deferred ERP costs | 2.22 | ||||
Advisory costs | 1.16 | ||||
Canada site closures | 0.19 | ||||
Tariffs | 1.06 | ||||
Other income, net | (0.69) | ||||
Adjusted EBITDA before adjustment for noncontrolling interest | $118.93 | ||||
Noncontrolling interest | (8.17) | ||||
Total adjusted EBITDA | $110.76 | ||||
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