Seneca Foods Corporation has recently released its 10-K report, providing a comprehensive overview of its financial performance and operations. The company, incorporated in 1949 and headquartered in Fairport, New York, specializes in packaged fruits and vegetables, operating through three segments: Fruits and Vegetables, Prepared Food Products, and Snack Products. Seneca Foods offers a range of products under various national and regional brands, including Seneca, Libby's, Aunt Nellie's, and Cherryman, and distributes its products to grocery outlets, specialty retailers, food service distributors, and export customers in 60 countries.
In the report's Item 12, Seneca Foods details the 2007 Equity Incentive Plan, which was approved by shareholders at the company’s annual meeting on August 10, 2007, and extended on July 28, 2017. The plan, which expires in August 2027, initially authorized the issuance of up to 100,000 shares of either Class A Common Stock and Class B Common Stock or a combination of the two. During fiscal year 2024, 4,864 shares were awarded under the terms of the 2007 Equity Plan, leaving 40,094 shares available for distribution as part of future awards as of March 31, 2024. Notably, no additional shares have been awarded under the 2007 Equity Plan through the date of the Annual Report on Form 10-K, and there are no equity compensation plans not approved by the company’s shareholders. Today the company's shares have moved -0.1% to a price of $57.31. Check out the company's full 10-K submission here.
