Donald Bulmer - Executive Vice President and Chief Information Officer | Performance Food Group (PFGC) Executive Profile & Compensation

About Donald Bulmer

Donald S. Bulmer, age 60, is Executive Vice President and Chief Information Officer (CIO) of Performance Food Group Company (PFGC). He was appointed CIO in March 2019 after six years on Vistar’s senior leadership team as VP of Corporate IT; prior IT leadership roles include ProBuild Holdings, Gates Corporation, and Nupremis Inc. He holds a B.A. in Economics (Colorado State University) and an M.S. in Management Information Systems (University of Colorado Denver) . Company performance context includes a strong long-term focus on TSR in equity plans (2022–2025 PSU payout at 171.6% of target on Russell 1000-relative TSR), and robust growth strategy highlighted in FY2025 proxy materials .

Past Roles

Organization	Role	Years	Strategic Impact
Performance Food Group Company	EVP & CIO	Named March 2019	Enterprise technology leadership; CIO role at corporate level
Vistar Corporation	VP, Corporate Information Technology	Six years prior to 2019 (exact dates not disclosed)	Senior leadership role supporting distribution IT capabilities
ProBuild Holdings	IT leadership roles	Not disclosed	Technology leadership in building materials distribution
Gates Corporation	IT leadership roles	Not disclosed	Technology leadership in auto parts manufacturing/distribution
Nupremis Inc.	IT leadership roles	Not disclosed	Managed services and hosting start-up experience

External Roles

Organization	Role	Years	Strategic Impact
None disclosed	—	—	—

Fixed Compensation

Bulmer is not listed among PFG’s Named Executive Officers (NEOs) for FY2025; individual base salary, target bonus, and actual bonus are not disclosed in the proxy .

Performance Compensation

Company program context (used for NEOs and indicative of executive design):

Annual Incentive Plan (AIP) metrics and FY2025 outcomes: | Metric | Weighting | Threshold/Target/Max | Actual vs Target | Payout % of Target | |--------|-----------|----------------------|------------------|--------------------| | Net Sales Growth | 40% | 50% / 100% / 200% | Exceeded | 137.9% | | Adjusted EBITDA Growth | 40% | 50% / 100% / 200% | Slightly below | 97.9% | | Strategic Initiatives (safety, Foodservice into Convenience) | 20% | 50% / 100% / 200% | Mixed; safety at 200%, convenience at 57.5% | 128.75% | | Total AIP | 100% | — | — | 120.0% |
Long-term performance shares (PSUs) design: | Metric | Relative TSR Ranking (Russell 1000) | Payout Scale | |--------|-------------------------------------|--------------| | TSR (3 nested periods, weighted) | Threshold 30th percentile | 25% | | TSR | Target 60th percentile | 100% | | TSR | Maximum 80th percentile | 200% | | Note | Negative cumulative TSR cap | Total payout capped at 100% if cumulative TSR is negative |
Vesting schedules:
- Time-based restricted stock: vests one-third per year on grant anniversaries
- PSUs: vest upon Committee certification after performance period ending July 3, 2027

Equity Ownership & Alignment

Data Point	Detail
Beneficial ownership	57,473 shares after sale reported 08/22/2025 (1,053 shares sold at $101.91)
Additional Form 4 activity	Sales executed under a Rule 10b5-1 plan established 02/28/2025; multiple transactions around $100–$102 per share on 08/20–08/27/2025
Hedging/Pledging	Prohibited for directors and executive officers under Securities Trading Policy
Ownership guidelines	Covered Executives include CFO and EVPs/SVPs who report to CEO; retention requirement until compliance is 50% of shares for Tier Two (EVPs/SVPs)
Vested vs unvested breakdown	Not disclosed
Shares pledged as collateral	Prohibited for executive officers
Insider trading controls	Pre-clearance required; robust restrictions under Securities Trading Policy

Employment Terms

Provision	Term
Severance Plan (general)	Executives who sign Participation Agreements receive severance upon termination without cause/for good reason; tiers vary by role (NEO tiers disclosed). Double-trigger applies for CIC (additional cash severance and equity acceleration rules). Participation for Bulmer not explicitly disclosed
Non-compete & non-solicit	One-year post-termination non-compete and non-solicit required to receive severance benefits; confidentiality and non-disparagement provisions apply
Equity treatment on CIC	Options/restricted stock vest depending on assumption by acquirer and qualifying termination; PSUs convert to time-based restricted stock at target or actual performance depending on timing; accelerated vesting under certain conditions
Clawbacks	Company will recoup incentive/equity compensation upon required restatements or calculation errors regardless of fraud/misconduct; amended to comply with NYSE/SEC rules in 2023
Hedging/Pledging	Hedging and pledging prohibited for directors and executive officers

Company Financial Performance During Bulmer’s Tenure

Metric (USD)	FY 2019	FY 2020	FY 2021	FY 2022	FY 2023	FY 2024	FY 2025
Revenues	$19,743,500,000*	$23,986,300,000*	$29,198,900,000*	$47,194,100,000*	$53,354,700,000*	$54,681,200,000*	$59,898,900,000*
EBITDA	$438,300,000*	$231,800,000*	$539,600,000*	$790,200,000*	$1,262,500,000*	$1,383,100,000*	$1,534,200,000*

Values retrieved from S&P Global.*

Compensation Committee, Peer Group, and Shareholder Feedback

Compensation Committee: Independent; Meridian Compensation Partners engaged directly; annual risk assessment conducted .
Peer group (FY2025): Albertsons, Arrow Electronics, Avnet, ADM, Bunge, CDW, Compass Group PLC, Dollar General, Dollar Tree, Genuine Parts, Mondelez, TD SYNNEX, Sysco, Kraft Heinz, Tyson, UNFI, US Foods, WESCO; changes vs prior year noted .
Say-on-Pay: ~99% approval at 2024 Annual Meeting; continued annual vote policy .
Practices: No excise tax gross-ups; double-trigger CIC vesting; anti-hedging/pledging; no repricing; clawbacks in place; stock ownership guidelines .

Investment Implications

Insider selling pressure appears controlled via Rule 10b5-1 plan with modest sales and continued beneficial ownership (57,473 shares), limiting near-term discretionary selling signals while indicating portfolio diversification; note hedging/pledging prohibitions reduce misalignment risk .
Pay-for-performance architecture (AIP tied to Net Sales/Adjusted EBITDA/Strategic goals; PSUs linked to relative TSR) aligns executive incentives with stockholder outcomes; FY2025 AIP paid at 120% of target, and 2022–2025 PSUs paid at 171.6% of target, reinforcing performance orientation .
Retention risk moderated by severance/CIC protections and ownership guidelines; however, Bulmer’s specific severance participation and ownership compliance status are not disclosed—monitor future proxies and 8-Ks for any employment agreement updates .
Execution risk: As CIO over a period of major growth and acquisitions, IT integration/cybersecurity oversight is central; Board Technology & Cybersecurity Committee focus supports governance rigor, but any ERP conversions or integration programs (noted in audit fees) should be monitored for operational risks .