Krispy Kreme (DNUT) Proxy Filing summary

Executive summary

• Achieved key strategic milestones in 2024, including divesting Insomnia Cookies, restructuring management, and expanding U.S. and international operations through partnerships and franchise models.

• Net revenue reached $1.7 billion with 5% organic growth; net income was $3.8 million, driven by the Insomnia Cookies divestiture.

• Over 17,500 global points of access in 40 countries; focus on profitable U.S. delivered fresh daily expansion and capital-light international franchise growth.

• Board nominated a refreshed slate of directors, reducing the board from 11 to 9 members, and plans to establish a Strategy and Operating Committee.

Voting matters and shareholder proposals

• Stockholders will vote on: election of nine directors, advisory approval of executive compensation, and ratification of Grant Thornton LLP as independent auditor for 2025.

• Board recommends voting FOR all proposals.

• Stockholder proposals for the 2026 annual meeting must be submitted by December 29, 2025.

Board of directors and corporate governance

• Board consists of nine nominees, majority independent, with diverse backgrounds and expertise in food, retail, technology, and consumer goods.

• Board diversity includes two female nominees and three racially/ethnically diverse members.

• Lead Independent Director role established; annual board and committee evaluations; code of conduct applies to all directors, officers, and employees.

• Board committees: Audit and Finance (7 meetings in 2024), Remuneration and Nomination (5 meetings in 2024), both composed solely of independent directors.