Tyson Foods’ top five execs collect $14.439 million in bonus pay

Tyson Foods’ top five executives shared $14.439 million in cash bonus pay this year as a reward for improved financial metrics in the fiscal year. Bonuses tied to such performance in the previous fiscal year were $1.032 million.

The company reported modest revenue growth in fiscal 2024 ending Oct. 1, but earnings per share increased 131% from the prior year as the chicken and prepared foods segments saw margins recover. Beef segment challenges are expected to be a problem for several quarters amid low herd numbers.

Tyson’s board chairman John H. Tyson, 71, earned a base salary of $1.212 million last year, the same salary since 2022. His stock awards, which are based on company performance, totaled $7.569 million, along with options valued at $1.681 million, a cash performance bonus of $4.131 million, and other compensation worth $3.81 million, for total compensation valued at $18.404 million, up 108% from the prior year.

Donnie King, 62, has been CEO for the past three and half years in which he worked to turn the company’s chicken division around, shore up the pork segment, and find efficiencies in the beef and prepared foods businesses. King was rewarded with a 3.99% salary increase to $1.452 million in fiscal 2024. His bonus performance pay totaled $5.996 million, up from $435,000 a year ago. Stock awards totaled $11.676 million, and options awards were $3.082 million. His other compensation added $564,643 to this total compensation of $22.773 million last year, a gain of 72.78% over fiscal 2023.

John R. Tyson served as chief financial officer through June 13, 2024, when he was suspended for a second alcohol-related offense. He remains with the company but his title has not yet been announced. For the time he was CFO in 2024, he earned a total compensation of $5.163 million. That included his base salary of $690,846, up 4.35% from 2023. He received bonus pay of $1.052 million, stock awards totaling $2.469 million and options awards valued at $500,007. He also received $180,111 in other compensation.

Curt Calloway, replaced Tyson as CFO on June 13. His total compensation was $2.174 million which includes a base salary of $516,057 for the four months of the fiscal year he was CFO. He earned a performance bonus of $876,856, and was granted stock awards worth $528,462, and options valued at $84,074. His other compensation totaled $169,385 and included the use of corporate airfare, insurance premiums and company retirement contributions, and reimbursement of taxes which are the standard benefits of all the top give execs.

Wes Morris took over leadership of Tyson’s chicken segment in February and earned a base salary of $789.308 and bonus pay of $1.731 million for the year. He also earned stock awards valued at $2.284 million and options valued at $840,689. With other perks totaling $337,753, Morris’ total compensation for 2024 was $5.976 million.

Brady Stewart is group president for beef, pork and chief supply chain officer at Tyson Foods. His salary increased to $917,769 in 2024 as he took on additional duties. In 2023, Brady’s base salary was $568,384. Brady received performance bonus pay of $2.292 million, up from $155,925 earned a year ago. His stock awards totaled $2.284 million and options awards added $840,689 to his total compensation of $6.673 million, up 17.5% over the prior year.

Tyson’s salary information was part of the Springdale-based meat company’s annual proxy filed Wednesday (Dec. 18) with the U.S. Securities and Exchange Commission. The company will hold its annual shareholder meeting at 10 a.m., on Feb. 6, 2025, at its facilities located at 2008 S. Thompson Street in Springdale. Shareholders of record as of Dec. 9 will vote to elect a slate of eight directors to the board, approve the executive salaries and consider one shareholder proposal that asks the company to dissolve its Class B shares that carry 10 to 1 voting privileges.

The dual-class voting structure has been part of Tyson’s bylaws since the company went public in 1963. The Tyson Family owns all of the Class B shares. Class B shares do not trade. There are around 287.86 million Class A shares owned by investors with a market capitalization of $21.177 billion.

Tyson’s Class A shares (NYSE: TSN) have increased 10.72% in value this calendar year through Dec. 18. Shares closed Wednesday at $58.96, down 44 cents. Over the past 52 weeks, the shares have traded between $50.97 and $66.88.