Donnie King

President and Chief Executive Officer at TYSON FOODS

Board

Since June 2, 2021

Age

62 years

Tenure

Joined TSN in 1984 following the acquisition of Valmac Industries, returned in February 2019 after a period of self-employment, held multiple leadership roles including Group President in various segments, and was promoted to President and Chief Executive Officer in June 2021.

Also at TYSON FOODS

Adam Deckinger

General Counsel and Secretary

Brady Stewart

Group President, Beef, Pork, and Supply Chain

Curt Calaway

Chief Financial Officer

About

Donnie King has built a remarkable career in the food industry over the past 39 years, developing deep expertise and a strategic approach that has benefited the company at multiple levels. His journey began with early experience at Valmac Industries, which eventually became part of TSN, laying the foundation for a lifelong commitment to excellence in the sector.

Over the years, he has progressed through several pivotal roles at TSN, including positions as Group President for International operations, North American Operations, and as Chief Operating Officer. His return to the company in February 2019 marked a significant turnaround after a period of self-employment, and he quickly took on increasing responsibilities that underscored his leadership capabilities.

Since being appointed President and Chief Executive Officer on June 2, 2021, King has continued to steer TSN through an ever-evolving industry landscape. In addition to his executive leadership, his appointment to the Board of Directors in 2022 further emphasizes the trust placed in his vision and management prowess, ensuring robust governance and sustained growth for the organization.

$TSN Performance Under Donnie King

Past Roles

Organization	Role	Date Range	Details
Tyson Foods (TSN)	Chief Operating Officer	Feb 2021 - Jun 2021	Held prior to appointment as CEO
Tyson Foods (TSN)	Group President, Poultry	Sep 2020 - Feb 2021	Preceded CEO appointment
Tyson Foods (TSN)	Group President, International and Chief Administration Officer	Feb 2019 - Sep 2020
Tyson Foods (TSN)	Group President, International	Jan 2019 - Feb 2020
Self-employed	Self-employed	2017 - 2019
Tyson Foods (TSN)	President, North American Operations	2015 - 2016
Tyson Foods (TSN)	President, North American Operations and Foodservice	2014
Valmac Industries	Employee	1982 - Acquired in 1984	Initial employment before acquisition by TSN

Fixed Compensation

Data from FY 2024

Component Name	Amount	Payment Schedule	Additional Details
Base Salary	$1,650,000	Annual	Amended in 2024 to incentivize CEO retention
Reimbursement of Taxes	$86,595	As incurred/Annual	Part of All Other Compensation breakdown
Executive Life Insurance Premiums	$6,293	As incurred	Part of All Other Compensation
Employee Stock Purchase Plan Contribution	$36,010	As incurred	Part of All Other Compensation
Executive Savings Plan Contribution	$313,098	As incurred	Part of All Other Compensation
Retirement Savings Plan Contribution	$13,800	As incurred	Part of All Other Compensation
Perquisites (e.g., Company-owned aircraft)	$108,847	As accrued	Includes personal use of Company aircraft and related benefits

Performance Compensation

Data from FY 2024

Non-Equity Incentive Plan Compensation

Metric [USD]	Value	Notes
Threshold	$1,400,000	Cash award threshold
Target	$2,800,000	Cash award target
Maximum	$5,600,000	Cash award cap
Grant Date	January 31, 2024	Effective date for cash award
Vesting/Payment	Based on annual results	No vesting schedule as it is cash-based

Equity Incentive Plan Awards

Metric [Value]	Value	Notes
AOI Threshold	$3.071 billion / 28,210 shares	Performance level for award
AOI Target	$4.095 billion / 56,421 shares	Target performance level
AOI Maximum	$5.119 billion / 112,843 shares	Maximum performance level
rTSR Threshold	28,210 shares	Based on S&P 500 Consumer Staples Index
rTSR Target	56,421 shares	Target shareholder return level
rTSR Maximum	112,843 shares	Maximum shareholder return level
Grant Date	November 17, 2023	Award effective date
Grant Date Fair Value	$5,626,949	Combined fair value for awards
Grant Date Stock Price	$48.74	Used as exercise price for related options
Vesting Schedule	Fiscal years 2024–2026	Vests based on achievement of performance metrics

Performance Stock Awards

Metric [USD or Shares]	Value	Notes
Shares Awarded (Threshold)	28,210 shares	Based on AOI and rTSR thresholds
Shares Awarded (Target)	56,421 shares	Target award level
Shares Awarded (Maximum)	112,843 shares	Maximum award level
Grant Date	November 17, 2023	Same as Equity Incentive Plan Awards
Grant Date Fair Value	$5,626,949	Fair value for performance-based awards
Vesting Schedule	At end of fiscal 2024–2026 period	Vesting upon achievement of performance measures
Additional Note	50% of annual long-term incentive compensation	Represents a substantial component of long-term incentives

Annual Performance Incentive Programs

Component	Threshold	Target	Maximum	Evaluation Period	Additional Details
Adjusted Operating Income (AOI)	$870 million (50% of payments)	$1.161 billion (100% of payments)	$1.451 billion (200% of payments)	Fiscal Year 2024	Combines cash incentives with elements of equity metrics
Supplemental Performance Stock Awards	N/A	Based on AOI achievement	N/A	Fiscal Year 2024	Fair value of $3,300,000; vests 50% on first and 50% on second anniversary
Overall Combined Equity Awards	See Equity Incentive details above	See Equity Incentive details above	See Equity Incentive details above	Fiscal Years 2024–2026	Total grant date fair value of $8,926,949 (combined awards)