-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, LjduH+OO2oPuXDAF8F1Kl1HgAl1LGD1OgHGmyes5uZ/cQ65tvYEdxl0TylKXISbY qas18JPK9nYYOeP5ENAYkQ== 0000897101-03-001054.txt : 20030828 0000897101-03-001054.hdr.sgml : 20030828 20030828170621 ACCESSION NUMBER: 0000897101-03-001054 CONFORMED SUBMISSION TYPE: DEFA14A PUBLIC DOCUMENT COUNT: 1 FILED AS OF DATE: 20030828 EFFECTIVENESS DATE: 20030828 FILER: COMPANY DATA: COMPANY CONFORMED NAME: GENERAL MILLS INC CENTRAL INDEX KEY: 0000040704 STANDARD INDUSTRIAL CLASSIFICATION: GRAIN MILL PRODUCTS [2040] IRS NUMBER: 410274440 STATE OF INCORPORATION: DE FISCAL YEAR END: 0525 FILING VALUES: FORM TYPE: DEFA14A SEC ACT: 1934 Act SEC FILE NUMBER: 001-01185 FILM NUMBER: 03871765 BUSINESS ADDRESS: STREET 1: NUMBER ONE GENERAL MILLS BLVD CITY: MINNEAPOLIS STATE: MN ZIP: 55426 BUSINESS PHONE: (763) 764-7600 MAIL ADDRESS: STREET 1: P O BOX 1113 CITY: MINNEAPOLIS STATE: MN ZIP: 55440 DEFA14A 1 genmills033715_14a.txt SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 SCHEDULE 14A (Rule 14a-101) INFORMATION REQUIRED IN PROXY STATEMENT SCHEDULE 14A INFORMATION Proxy Statement Pursuant to Section 14(a) of the Securities Exchange Act of 1934 Filed by the Registrant [X] Filed by a Party other than the Registrant [_] Check the appropriate box: [_] Preliminary Proxy Statement [_] Confidential, For Use of the [_] Definitive Proxy Statement Commission Only (as permitted [X] Definitive Additional Materials by Rule 14a-6(e)(2)) [_] Soliciting Material Under Rule 14a-12 General Mills, Inc. - -------------------------------------------------------------------------------- (Name of Registrant as Specified in Its Charter) - -------------------------------------------------------------------------------- (Name of Person(s) Filing Proxy Statement, if Other Than the Registrant) Payment of Filing Fee (Check the appropriate box): [X] No fee required. [ ] Fee computed on table below per Exchange Act Rules 14a-6(i)(1) and 0-11. 1) Title of each class of securities to which transaction applies: --------------------------------------------------------------------------- 2) Aggregate number of securities to which transaction applies: --------------------------------------------------------------------------- 3) Per unit price or other underlying value of transaction computed pursuant to Exchange Act Rule 0-11 (set forth the amount on which the filing fee is calculated and state how it was determined): --------------------------------------------------------------------------- 4) Proposed maximum aggregate value of transaction: --------------------------------------------------------------------------- 5) Total fee paid: --------------------------------------------------------------------------- [_] Fee paid previously with preliminary materials: - -------------------------------------------------------------------------------- [_] Check box if any part of the fee is offset as provided by Exchange Act Rule 0-11(a)(2) and identify the filing for which the offsetting fee was paid previously. Identify the previous filing by registration statement number, or the form or schedule and the date of its filing. 1) Amount previously paid: 2) Form, Schedule or Registration Statement No.: 3) Filing Party: 4) Date Filed: In August and September, General Mills will send the following form of letter to a number of its large shareholders. August ___, 2003 Dear Shareholder: As you know, at the Company's 2003 Annual Meeting of Shareholders on September 22, 2003, we will be seeking your approval of the General Mills 2003 Stock Compensation Plan. The key points of the 2003 Plan, which is described in greater detail in the proxy statement you have received, are: 1. It is a two-year plan, with a 15 million share authorization. 2. We are adopting a new approach to stock compensation. We will make a shift to grant a blend of restricted stock and stock options. Restricted stock and stock option grants will be performance driven, based on our overall level of corporate performance. 3. We will have a significant reduction in our run rate. The annual run rate will be 1.6% at standard performance levels. It can be as low as 1.2% or as high as 2.0% based on overall company performance. This will lead to a large reduction in our stock overhang over time. 4. We will continue many compensation and governance best practices, including: a. No stock option repricings. b. No discounted stock options. c. No reload stock options. d. No loans. e. No evergreen provision. f. Limitation on use of restricted stock (25%). g. Meaningful vesting requirements (four years). h. Broad participation. i. Independent Compensation Committee, with access to their own independent compensation consultant. 5. We will discontinue using the two existing 1998 stock plans (which currently have approximately 1.3 million shares available for grant) upon approval of this plan. We hope you will decide to vote YES for the Plan. Sincerely, Michael L. Davis Vice President, Compensation, Benefits and Staffing -----END PRIVACY-ENHANCED MESSAGE-----