hrl-20240921

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D. C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15 (d) of the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported) September 21, 2024

HORMEL FOODS CORPORATION

(Exact name of registrant as specified in its charter)


Delaware	1-2402	41-0319970
(State or Other Jurisdiction of Incorporation)	(Commission File Number)	(IRS Employer Identification Number)


1 Hormel Place, Austin, Minnesota						55912-3680
(Address of principal executive offices)						(Zip Code)

(507) 437-5611

Registrant’s telephone number, including area code

Not Applicable

(Former name or former address, if changed since last report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of each class

Trading Symbol

Name of each exchange on which registered

Common Stock $0.01465 par value

HRL

New York Stock Exchange

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Section 5 – CORPORATE GOVERNANCE AND MANAGEMENT

Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers

On September 21, 2024, the Board of Directors (the Board) of Hormel Foods Corporation (the Company) elected Debbra Schoneman to the Board, effective immediately on September 21, 2024. Ms. Schoneman joined the Audit and Governance Committees of the Board.

Ms. Schoneman is not a party to any arrangement or understanding with any person pursuant to which she was selected as a director. Ms. Schoneman has not entered into or proposed to enter into any related party transactions required to be disclosed by Item 404(a) of Regulation S-K. Ms. Schoneman will receive the same compensation as other non-employee directors and as set forth under “Compensation of Directors” in the Company’s definitive proxy statement for its 2024 Annual Meeting of Stockholders filed with the Securities and Exchange Commission on December 20, 2023.

Section 7 – REGULATION FD

Item 7.01 Regulation FD

On September 23, 2024, the Company issued a press release announcing Ms. Schoneman’s election to the Board. A copy of the press release is furnished as Exhibit 99 to this Current Report on Form 8-K and is incorporated herein by reference.

Section 9 – FINANCIAL STATEMENTS AND EXHIBITS

Item 9.01 Financial Statements and Exhibits

(d) Exhibits


Exhibit Number			Description
99			Press release issued Se ptember 23 , 2024
104			The cover page from this Current Report on Form 8-K, formatted as Inline XBRL.

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this Report to be signed on its behalf by the undersigned hereunto duly authorized.


	HORMEL FOODS CORPORATION
		(Registrant)

Dated: September 23, 2024	By:	/s/ PAUL R. KUEHNEMAN
		PAUL R. KUEHNEMAN
		Vice President and Controller
		Principal Accounting Officer

Document

Exhibit 99

FOR IMMEDIATE RELEASE

Contact: Media Relations

Hormel Foods

media@hormel.com

Hormel Foods Elects New Member to its Board of Directors

AUSTIN, Minn. (September 23, 2024) — Hormel Foods Corporation (NYSE: HRL), a Fortune 500 global branded food company, announced today that Debbra Schoneman, president of Piper Sandler Companies, has been elected to the Hormel Foods Board of Directors, effective September 21, 2024.

“I am delighted to welcome Deb to the Hormel Foods board,” said Jim Snee, chairman of the board, president and chief executive officer of Hormel Foods. “She has an impressive background and brings extensive expertise in finance and corporate development, which will be invaluable as we continue to transform, modernize and grow our company.”

Schoneman joined the Audit and Governance Committees of the Hormel Foods Board of Directors.

Schoneman is president of Piper Sandler Companies (NYSE: PIPR), a leading investment bank and financial services company, where she manages the equities, fixed income and public finance businesses. She has been with the firm for 34 years, having served as president since 2018 and previously as chief financial officer from 2008 to 2017.

Schoneman has a long history of board service in the public, private and philanthropic sectors. She is currently a director on the Allina Health board, a $5 billion healthcare system, having served as its chair for three years. She also is a member of the board of trustees for the University of St. Thomas, a private university in Minnesota.

Schoneman holds a bachelor’s degree from Minnesota State University, Mankato and a Master of Business Administration from the University of St. Thomas.

About Hormel Foods — Inspired People. Inspired Food.™

Hormel Foods Corporation, based in Austin, Minnesota, is a global branded food company with over $12 billion in annual revenue across more than 80 countries worldwide. Its brands include Planters®, Skippy®, SPAM®, Hormel® Natural Choice®, Applegate®, Justin's®, Wholly®, Hormel® Black Label®, Columbus®, Jennie-O® and more than 30 other beloved brands. The company is a member of the S&P 500 Index and the S&P 500 Dividend Aristocrats, was named one of the best companies to work for by U.S. News & World Report, one of America's most responsible companies by Newsweek, recognized by TIME magazine as one of the World's Best Companies, received a perfect score of 100 on the 2023–24 Corporate Equality Index and has received numerous other awards and accolades for its corporate responsibility and community service efforts. The company lives by its purpose statement — Inspired People. Inspired Food.™ — to bring some of the world's most trusted and iconic brands to tables across the globe. For more information, visit hormelfoods.com.