HRL: Leadership change

Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers . On July 27, 2026, the Board of Directors (the “Board”) of Hormel Foods Corporation (the “Company”) appointed John F. Ghingo, the Company’s current President and a member of the Board, as the Company’s President and Chief Executive Officer, effective October 26, 2026. Mr. Ghingo will continue to serve as a member of the Board. Jeffrey M. Ettinger’s service as Interim Chief Executive Officer will conclude on October 25, 2026, in accordance with the terms of the previously disclosed Employment Agreement, dated June 20, 2025, between the Company and Mr. Ettinger. Mr. Ettinger will continue to serve as a member of the Board. Mr. Ghingo, age 53, brings over 20 years of experience in the consumer-packaged foods industry to the position of President and Chief Executive Officer. He has served as the Company’s President since July 2025, and previously served as the Company’s Executive Vice President – Retail from October 2024 to July 2025, Group Vice President, Retail from September to October 2024, and President of Applegate Farms, LLC, a Company subsidiary, from April 2018 to January 2022. From January 2022 to August 2024, Mr. Ghingo served as the Chief Executive Officer of Whisps Acquisition Corporation, a better-for-you snacking company. Mr. Ghingo holds an undergraduate degree in marketing from the University of Notre Dame, and an M.B.A. from the Stern School of Business at New York University. In connection with the Board’s appointment of Mr. Ghingo, effective July 27, 2026, the Board approved an increase in Mr. Ghingo’s annual base salary from $730,000 per year to $1.2 million per year and an increase in Mr. Ghingo’s