Item 1.01 Entry into a Material Definitive Agreement.
On July 23, 2020, the Board of Directors (the "Board") of Conagra Brands, Inc.
(the "Company") approved a form of indemnification agreement (the
"Indemnification Agreement") to be entered into by and between the Company and
each of its executive officers and certain other officers (collectively, the
"Senior Officers"). The Indemnification Agreement memorializes the
indemnification provisions contained in the Company's Amended and Restated
Bylaws (the "Bylaws") and requires the Company to indemnify each Senior Officer
under the circumstances and to the extent provided for therein, to the fullest
extent permitted by the General Corporation Law of the State of Delaware,
including indemnification against expenses such as attorneys' fees, judgments,
fines and settlement amounts incurred by the Senior Officer in any action or
proceeding arising out of such person's services as a Senior Officer.
The foregoing description of the Indemnification Agreement does not purport to
be complete and is qualified in its entirety by reference to the full text of
the Indemnification Agreement, the form of which is filed as Exhibit 10.1 hereto
and is incorporated herein by reference.
Item 5.03 Amendments to Articles of Incorporation or Bylaws; Change in Fiscal
Year.
On July 23, 2020, and effective as of such date, the Board also approved an
amendment to the Bylaws to permit eligible stockholders to include
stockholder-nominated director candidates in the Company's proxy materials for
its annual shareholder meetings (the "Proxy Access Bylaw"). The Proxy Access
Bylaw provides that any stockholder, or group of up to 20 stockholders, that has
owned at least 3% of the Company's outstanding common stock continuously for at
least the previous three years may nominate and include in the Company's proxy
materials director nominees constituting up to the greater of (i) two directors
and (ii) 20% of the number of the directors then serving on the Board, provided
that the stockholder(s) and the nominee(s) satisfy the requirements specified in
the Proxy Access Bylaw.
The foregoing description of the Bylaws is qualified in its entirety by
reference to the full text of the Bylaws, a copy of which is filed as Exhibit
3.1 hereto and is incorporated herein by reference.
Item 9.01 Financial Statements and Exhibits.
Exhibit
No. Description
3.1 Amended and Restated Bylaws of Conagra Brands, Inc.
10.1 Form of Senior Officer Indemnification Agreement
104 Cover Page Interactive Data File (embedded within the Inline XBRL document)
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