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)   January 26, 2016

 

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, MN  55912

(Address of Principal Executive Office)

 

Registrant’s telephone number, including area code:  (507) 437-5611

 

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:

 

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

 

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

 

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

 

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

 

 

 



 

Section 3 — SECURITIES AND TRADING MARKETS

 

Item 3.03 Material Modification to Rights of Security Holders

 

On January 26, 2016, stockholders of Hormel Foods Corporation (the Company) approved a proposal to effect a two-for-one split of the Company’s common stock.  Per the proposal, the Company’s common stock will be reclassified by reducing the par value from $.0293 per share to $.01465 per share and increasing the number of authorized shares from 800 million to 1.6 billion shares, in order to effect a two-for-one stock split.

 

The Company’s Restated Certificate of Incorporation was amended effective January 27, 2016, to effect the split, as described above.  Per that amendment, each stockholder of record on January 26, 2016 will be entitled to receive one additional share of common stock, at a par value of $.01465, for each share of common stock already held on that date.  The Company will distribute the additional shares of $.01465 par value common stock in uncertificated (book-entry) form on or about February 9, 2016.  The Company will also reserve for issuance the maximum number of shares of common stock subject to options and other awards which have been granted or may be granted under the Company’s stock award and other stock plans, which provide that the number of shares of common stock reserved for issuance shall be appropriately adjusted in the event of a stock split.

 

Section 5 — CORPORATE GOVERNANCE AND MANAGEMENT

 

Item 5.07 Submission of Matters to a Vote of Security Holders

 

The Company conducted its annual stockholders’ meeting on January 26, 2016.

 

At the annual meeting, 241,896,717 shares were represented (91.5 percent of the 264,228,740 shares outstanding and entitled to vote).  Three items were considered at the meeting and the results of the voting were as follows:

 

1.  Election of Directors:  The nominees in the proxy statement were:  Gary C. Bhojwani, Terrell K. Crews, Jeffrey M. Ettinger, Jody H. Feragen, Glenn S. Forbes, M.D., Stephen M. Lacy, John L. Morrison, Elsa A. Murano, Ph.D., Robert C. Nakasone, Susan K. Nestegard, Dakota A. Pippins, Christopher J. Policinski, Sally J. Smith, James P. Snee, and Steven A. White.  The results were as follows:

 

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DIRECTOR:

 

FOR

 

WITHHELD

 

BROKER NON-

VOTE

 

Gary C. Bhojwani

 

213,342,165

 

6,356,986

 

22,197,566

 

Terrell K. Crews

 

213,405,473

 

6,293,678

 

22,197,566

 

Jeffrey M. Ettinger

 

208,775,559

 

10,923,592

 

22,197,566

 

Jody H. Feragen

 

205,770,003

 

13,929,148

 

22,197,556

 

Glenn S. Forbes, M.D.

 

213,390,619

 

6,308,532

 

22,197,566

 

Stephen M. Lacy

 

211,352,927

 

8,346,224

 

22,197,566

 

John L. Morrison

 

212,910,420

 

6,788,731

 

22,197,566

 

Elsa A. Murano, Ph.D.

 

213,432,563

 

6,266,588

 

22,197,566

 

Robert C. Nakasone

 

212,111,699

 

7,587,452

 

22,197,566

 

Susan K. Nestegard

 

213,401,063

 

6,298,088

 

22,197,566

 

Dakota A. Pippins

 

212,209,415

 

7,489,736

 

22,197,566

 

Christopher J. Policinski

 

213,110,302

 

6,588,849

 

22,197,566

 

Sally J. Smith

 

211,696,180

 

8,002,971

 

22,197,566

 

James P. Snee

 

212,466,770

 

7,232,381

 

22,197,566

 

Steven A. White

 

213,034,544

 

6,664,607

 

22,197,566

 

 

2.   Proposal to amend the Company’s Restated Certificate of Incorporation to increase the number of authorized shares of common stock from 800 million to 1.6 billion shares, and reduce the par value from $.0293 to $.01465 per share, in order to effect a two-for-one split of the Company’s Common Stock:

 

For:

 

235,010,529

 

Against:

 

1,135,880

 

Abstain:

 

5,750,308

 

 

3.  Ratification of the appointment of Ernst & Young LLP as the Company’s independent registered public accounting firm for the fiscal year ending October 30, 2016:

 

For:

 

234,606,407

 

Against:

 

1,298,737

 

Abstain:

 

5,991,573

 

 

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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: January 28, 2016

By

/s/ JODY H. FERAGEN

 

 

JODY H. FERAGEN

 

 

Executive Vice President and

 

 

Chief Financial Officer

 

 

 

 

 

 

Dated: January 28, 2016

By

/s/ JAMES N. SHEEHAN

 

 

JAMES N. SHEEHAN

 

 

Vice President and Controller

 

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