Conagra shareholders vote for proposed changes to executive pay

Sept 23 (Reuters) - Conagra ‌Brands shareholders ​voted ​on Wednesday in favour of proposed changes to the US packaged ‌food maker's executive compensation program.

Proxy adviser ISS ⁠had urged shareholders to vote against the changes, ‌citing concerns about ‌declining financial performance and a lack of clarity around targets.

Here are more details:

• ​The proposal was approved on an advisory basis at Conagra's AGM.

• CEO John ⁠Brase's compensation package includes a $1.15 million base salary, an ​annual incentive target opportunity equal to 150% of his eligible base salary ​and $7.3 million in annual ‌long-term incentives, consisting of 60% performance shares and 40% restricted stock ⁠units(RSUs), as Conagra had proposed in a proxy statement on August 11.

• Conagra, which ⁠makes Hunt's ketchup, Slim Jim meat sticks and Swiss ​Miss hot cocoa, halved its annual dividend in July and is reviewing its non-core assets under ‌new CEO Brase after issuing a weak profit outlook.

• Conagra ‌Brands is expected to report its first-quarter ⁠results on September ‌30.

(Reporting by Alexander ​Marrow in London and Koyena Das in Bengaluru; Editing by Perla ‌Velasco)

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