¨ | Preliminary Proxy Statement |
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¨ | Definitive Proxy Statement |
x | Definitive Additional Materials |
¨ | Soliciting Material Pursuant to §240.14a-12 |
x | No fee required. |
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▪ | We believe our long-standing and rigorous share ownership requirements already align our executives with long-term shareholder interests. |
◦ | CEO – 5 times base salary (or $4.5 million), and |
◦ | Other executive officers – 3 times base salary (average of approximately $1.4 million) |
▪ | To further align the interests of our executives and our long-term shareholders, over 50% of our executives’ total direct compensation is equity-based. The Chiquita Board believes that combining this compensation practice with a “hold until retirement” policy would hinder our ability to attract and retain executive talent, to the detriment of our shareholders. |
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