DEF 14A

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

SCHEDULE 14A

Proxy Statement Pursuant to Section 14(a) of the

Securities Exchange Act of 1934 (Amendment No. )

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by the Registrant ☒

Filed by a Party other than the Registrant ☐

Check the appropriate box:


☐		Preliminary Proxy Statement

☐		Confidential, for Use of the Commission Only (as permitted by Rule 14a-6(e)(2))

☒		Definitive Proxy Statement

☐		Definitive Additional Materials

☐		Soliciting Material Pursuant to §240.14a-12

Krispy Kreme, 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):



☒		No fee required.

☐		Fee paid previously with preliminary materials.

☐		Fee computed on table below per Exchange Act Rules 14a-6(i)(1) and 0-11.

LOGO

LETTER TO OUR STOCKHOLDERS

Dear Krispy Kreme Stockholder,

Since 1937, we’ve been serving our iconic Original Glazed^® doughnut to customers, and it has always been about sharing joyful moments. As an affordable indulgence today, we love that more than 80% of our doughnuts are bought to be shared with others. In 2022, 36% of our customers bought our doughnuts for a party or special event in their life, up from just 10% a few years ago. Our customers trust us to be a part of their special moments, and we don’t take that lightly. We are proud to carry on the best of what our founder Vernon Rudolph knew: consumers love hot, fresh doughnuts. We appreciate our history, yet know we are a doughnut company that is constantly evolving.

We had another strong year of organic revenue growth in 2022, led by the successful execution of our omnichannel strategy and the strong performance of our premium celebration events and holiday offerings. Our omnichannel strategy is unique in the industry and is fueled by our passion for innovation and our understanding that access to our brand is our biggest opportunity. Through the efficiency of only 400 doughnut-producing shops worldwide, we know how to think differently and creatively, delivering fresh doughnuts when and where consumers want them.

Thinking differently has meant that we not only think like an experiential doughnut company but also a logistics company. That change in our model and culture allowed us to open and service 12,000 points of access daily in 2022, with an aspirational goal of 75,000 points of access. While those points of access started as grocery and convenience stores, today, they include mass merchandisers, restaurants, and drug stores. The uniqueness of our current model allows us to maximize an idea that was once only available to the 400 producing doughnut shops, taking it to potential points of access in our system. Thinking like a logistics company with our Delivered Fresh Daily (DFD) network truly unlocks the power of our brand and reach.

In 2022, we had positive organic growth in each of the 31 countries where we operated, despite a turbulent macro environment. This growth and execution of our omnichannel strategy would not have been possible without our 20,000 global Krispy Kremers, our team members. Our unique culture is at the core of our success, and it is because we truly care about our Krispy Kremers that we are well on our way to achieving our goal of becoming the world’s most loved sweet treat brand. I often quote Peter Drucker’s wise words, “Culture eats strategy for breakfast.” I believe this wholeheartedly, which is why our leadership team spends an incredible amount of time in our shops across the globe. We get to know our Krispy Kremers. We create an environment of love (and sometimes tough love), and we encourage our Krispy Kremers to go after their dreams as we all work together to achieve our dreams for the brand.

The purpose of our company is to touch and enhance the lives of others through the joy that is Krispy Kreme. This is who we are and why we will always be committed to positively impacting the world by loving our people, our communities, and our planet. Last year, we raised $40 million globally for local communities through our FUNdraising program, a 25% increase from the prior year. We also give back in our communities through volunteering, philanthropy, and creating moments of shared joy. We are constantly looking to engage communities across the globe in fun, enjoyable ways that really connect people to Krispy Kreme in a powerful way.

When we think about our commitment to our planet, we are focusing on waste reduction, landfill diversion, and lowering our greenhouse gas (GHG) emissions. Last year, we continued a multi-year global GHG emissions assessment to establish our emissions baseline. We will soon be using this foundation to set goals for GHG emission reductions.

We also made progress on our responsible sourcing commitments around cage-free eggs and sustainable palm oil use across our global supply chain. We also took steps to increase landfill diversion and increase our use of food-to-feed initiatives across our business.

Key achievements & results

Moving to financial results for 2022, we had a great top line, as organic revenue grew over 12%. This growth was led by a 14% increase in fresh points of access globally to nearly 12,000 in total at year-end. Growth was strong across the world, especially to end the year, as we saw double-digit organic revenue growth in all three segments in the fourth quarter, with performance accelerating in the U.S. Krispy Kreme business, Market Development, and retail in the U.K.

We sold a record-breaking 1.63 billion fresh doughnuts in 2022! 1.63 billion. That’s a LOT of doughnuts! All delivered fresh daily to more than 30 countries around the world.

The fourth quarter was an awesome way to end a great year for our brand, as we had successful seasonal global campaigns that drove an increase in volume, especially at Halloween and Winter holidays, where we saw strong performance worldwide. These global campaigns show the path forward for significant events and holidays, as we’ll be able to leverage marketing costs, media coverage, and brand partners across many or all the countries Krispy Kreme and our franchise partners operate, driving increased efficiencies on both the top and bottom line. For the full year, we had more than 35 billion earned media impressions, highlighting the true power of our incredible passion brand.

Our ecommerce efforts strengthened our omnichannel capabilities in 2022. In the U.S., that included expanding the availability of specialty doughnuts and more targeted marketing efforts. Additionally, Insomnia Cookies benefited from the expanded radius of warm cookie delivery of up to 10 miles. These efforts led to a more than 20% increase in ecommerce revenue in the fourth quarter compared to a year ago. They also led to a 260-basis point increase in sales of ecommerce to 18.3% for the company as a whole during the quarter. Since the pandemic, the fourth quarter was our strongest in ecommerce, and we continue to see major growth opportunities in this channel.

For 2022, GAAP Net Loss improved by 41% to $9 million, and Adjusted EBITDA increased by 2% to $191 million, or an increase of 7% in constant currency. Our efforts to improve performance through our network optimization and closing unprofitable shops led to expenses of $19 million in 2022, over 90% non-cash. Excluding that impact, we would have reported positive Net Income.

Insomnia Cookies had another great year driven by both strong same shop sales and new shop sales. We are focused on accelerating Insomnia’s growth as we expand from our current 231 shops to a total market of more than 4,000 locations globally, with the goal to eventually ramp up to nearly 100 new cookie shops per year.

In our international segment, where our omnichannel model is more developed, we continued to grow fresh points of access and see great potential from where we are today. In 2022, we added 580 points of access internationally, with growth across all countries. This led to 18% organic revenue growth in 2022, and sales per hub increased 8% to nearly $10 million despite significant foreign exchange headwinds from the stronger U.S. dollar.

We saw strong progress in Mexico in 2022, where points of access increased by nearly 40% to more than 550. This led to a 24% increase in revenue and more than 100 basis points of Adjusted EBITDA margin expansion for Mexico for the year despite significant inflation.

We also signed a record number of international development agreements in 2022, with eight new agreements from both existing and new partners. Interest from high-quality franchise partners remains strong, and we remain confident in our ability to sign-up three to five new countries a year. We expect to open in five to seven new countries in 2023 – including France. This will bring our total to more than 35 countries by the end of this year.

Looking ahead

As we look ahead, our focus remains relentless on capital light expansion of our omnichannel model. We continue to gain confidence in our existing DFD channels and are now excited to grow our fresh business to new channels such as QSR, Club, and Drugstore. That’s why we have confidence in our ability to grow to more than 75,000 points of access globally, an increase from our prior target of 50,000.

In addition to expanding DFD, we will also continue our work to align our specialty doughnuts across all channels and expand our ecommerce capabilities in 2023. And we’ll continue to accelerate the growth of Insomnia Cookies. Krispy Kreme has great momentum right now, and we remain confident about the long-term 2026 expectations we highlighted at our Investor Day in December 2022. This includes growing Revenue to $2.15 billion and Adjusted EBITDA to $315 million.¹

¹	See Exhibit A for reconciliation of GAAP to non-GAAP presentations.

Conclusion

My excitement about the growth of this brand is stronger than ever. My belief is that brands with a purpose and clear direction will thrive even in challenging times. We’ve seen this in the resilience of the Krispy Kreme brand and culture. We have worked diligently over the past six years to transform our business model and operations to give more customers exactly what they want where they want it – an awesome, fresh Krispy Kreme doughnut. We have incredible momentum as we continue our journey to become the most loved sweet treat brand in the world.

Thank you for your continued support of Krispy Kreme.

Lots of Love,

LOGO

Mike Tattersfield

President & Chief Executive Officer

Notice of 2023 Annual Meeting of Stockholders


To Our Stockholders, Notice is hereby given that the virtual annual meeting of stockholders (the “Annual Meeting”) of Krispy Kreme, Inc., a Delaware corporation (“KKI”), will be held on June 22, 2023, at 10:00 a.m. ET. You can virtually attend the Annual Meeting online at www.proxydocs.com/DNUT or vote your shares electronically online at www.proxypush.com/DNUT or via telephone at 1-866-475-0865. Submit questions online during the meeting by visiting www.proxydocs.com/DNUT and entering the control number provided on your proxy card, voting instruction form, or Notice of Internet Availability of Proxy Materials. Items of Business 1. To elect 11 directors to hold office for a one-year term and until their respective successors shall have been duly elected and qualified; 2. To approve an advisory resolution regarding KKI’s executive compensation; 3. To ratify the appointment of Grant Thornton LLP as KKI’s independent registered public accounting firm for fiscal year 2023; and 4. To transact such other business as may properly come before the Annual Meeting or any adjournment thereof. Who May Vote: Stockholders of KKI common stock at the close of business on April 24, 2023. A list of stockholders will be accessible prior to the Annual Meeting upon request from the Corporate Secretary and during the Annual Meeting by visiting the meeting website referenced above. Distribution Date: A Notice of Internet Availability of Proxy Materials or the Proxy Statement is first being sent to stockholders on or about April 28, 2023. If your shares are held in the name of a bank, broker, or other nominee, follow the instructions you receive from your bank, broker, or other nominee on how to vote your shares. Your vote is very important. To ensure your representation at the Annual Meeting, please complete and return the enclosed proxy card or submit your vote through the Internet or by telephone. Whether or not you plan to virtually attend the meeting, we urge you to vote. Catherine Tang Corporate Secretary WHETHER OR NOT YOU PLAN TO VIRTUALLY ATTEND THE ANNUAL MEETING, YOU MAY VOTE AND SUBMIT YOUR PROXY ELECTRONICALLY, BY TELEPHONE OR BY REQUESTING A PRINTED COPY OF THE PROXY MATERIALS AND COMPLETING AND RETURNING BY MAIL THE PROXY CARD YOU WILL RECEIVE IN RESPONSE TO YOUR REQUEST.		Meeting Information
	Date: Time:	June 22, 2023 10:00 a.m., Eastern time
	Location:	Virtual Meeting www.proxydocs.com/DNUT
	How to Vote
		Via the Internet visit www.proxypush.com/DNUT
		By Telephone call 1-866-475-0865
		By Mail Stockholders who have received a paper copy of a proxy card or voting instruction form by mail may submit proxies by completing, signing, and dating their proxy card or voting instruction form and mailing it in the accompanying pre-addressed envelope.
	Important Notice Regarding the Availability of Proxy Materials for the Annual Meeting to be held on June 22, 2023: The Company’s Proxy Statement for the Annual Meeting and the Annual Report on Form 10-K for the year ended January 1, 2023 are available at www.proxydocs.com/DNUT by entering the control number provided on your proxy card, voting instruction form, or Notice of Internet Availability of Proxy Materials.

Table of Contents



	1			Proxy Summary

	1			2023 Annual Meeting Information

	1			Meeting Agenda and Voting Recommendations

	1			Krispy Kreme – A Beloved Sweet Treat Brand

	2			Fiscal Year 2022 Company Highlights

	2			2023 Director Nominees

	3			Corporate Governance Highlights

	3			Key Executive Compensation Practices

	3			Key ESG Commitments and Progress

	4			Proposal 1: Election of Directors

	4			Proposal Summary

	4			Director Nomination Process

	4			Board Composition, Qualifications and Diversity

	5			Board Diversity Matrix

	5			Director Independence

	5			Director Nominees

	11			Corporate Governance Practices

	11			Board Leadership Structure

	11			Board Meetings

	11			Committees

	12			Remuneration and Nomination Committee Interlocks and Insider Participation

	13			The Board’s Oversight Responsibilities

	13			Board and Committee Evaluations

	13			Code of Conduct

	14			2022 ESG Highlights

	18			Certain Relationships and Related Party Transactions

	19			Delinquent Section 16(a) Reports

	19			Where to Find More Information

	19			Stockholder Outreach and Communications with the Board

	20			Executive Officers

	22			Proposal 2: Advisory Resolution to Approve Executive Compensation



	23			Compensation Discussion and Analysis

	23			Overview of Compensation Philosophy and Objectives

	23			Principles and Governance

	23			Elements of Compensation

	28			Other Benefits and Perquisites

	28			Retirement Plans

	28			Employment and Change in Control Arrangements

	29			Report of the Remuneration and Nomination Committee

	30			Summary Compensation Table

	31			Grants of Plan-Based Awards

	32			Outstanding Equity Awards at Fiscal Year-End

	33			Stock Options Exercised and Stock Vested

	33			Pension Benefits

	33			Nonqualified Deferred Compensation

	33			Post-Termination Compensation

	34			Equity Treatment Upon Termination Scenarios

	35			Potential Payments Upon Termination or Change in Control

	35			Director Compensation Table

	36			Our Insider Trading and Clawback Policies

	37			Securities Authorized for Issuance Under Equity Compensation Plans

	38			CEO Pay Ratio

	38			Pay vs. Performance

	39			Pay vs. Performance Table

	39			Compensation Actually Paid Table

	40			Relationship Between Pay and Performance

	41			Tabular List of Financial Performance Measures

	42			Proposal 3: Ratification of the Appointment of Independent Registered Public Accounting Firm

	42			Independent Registered Public Accounting Firm’s Fees

	43			Report of the Audit and Finance Committee

	44			Ownership of our Equity Securities

	44			Directors and Executive Officers

	45			Beneficial Owners of More than 5% of Our Common Stock

	46			Other Matters

	A-1			Appendix A: Non-GAAP Financial Measures

2023 Proxy Statement | 1

Proxy Summary

This summary highlights certain information regarding KKI’s evolution, performance, corporate governance, and compensation practices. Stockholders are encouraged to read the entire Proxy Statement and Annual Report on Form 10-K for the fiscal year ended January 1, 2023 carefully before voting.

2023 Annual Meeting Information



Meeting Information		How to Vote
Date: Time:	June 22, 2023 10:00 a.m., Eastern Time	Via the Internet visit www.proxypush.com/DNUT
Location: Virtual Meeting www.proxydocs.com/DNUT		By Telephone call 1-866-475-0865
		By Mail Stockholders who have received a paper copy of a proxy card or voting instruction form by mail may submit proxies by completing, signing, and dating their proxy card or voting instruction form and mailing it in the accompanying pre-addressed envelope.
Important Notice Regarding the Availability of Proxy Materials for the Annual Meeting to be held on June 22, 2023: The Company’s Proxy Statement for the Annual Meeting and the Annual Report on Form 10-K for the year ended January 1, 2023 are available at www.proxydocs.com/DNUT by entering the control number provided on your proxy card, voting instruction form, or Notice of Internet Availability of Proxy Materials.

Meeting Agenda and Voting Recommendations

Proposal

Board’s Voting
Recommendation

Page
Reference

1. Election of Directors

FOR

2. Advisory Resolution to Approve KKI’s Executive Compensation

FOR

3. Ratification of Grant Thornton LLP’s Appointment as KKI’s Independent Auditor for 2023

FOR

Krispy Kreme—A Beloved Sweet Treat Brand

Krispy Kreme, Inc. (“KKI”) and its subsidiaries (collectively, the “Company” or “Krispy Kreme”) is one of the most beloved and well-known sweet treat brands in the world. Our iconic Original Glazed^® doughnut is universally recognized for its hot-off-the-line, melt-in-your-mouth experience. Krispy Kreme operates in more than 30 countries through its unique network of fresh Doughnut Shops, partnerships with leading retailers, and a rapidly growing E-commerce and delivery business with over 12,000 fresh Points of Access. Our purpose of touching and enhancing lives through the joy that is Krispy Kreme guides how we operate every day and is reflected in the love we have for our people, our communities, and the planet.

2023 Proxy Statement | 1

PROXY SUMMARY

Fiscal Year 2022 Company Highlights

•

KKI reported strong financial results for the year ended January 1, 2023 with net revenue growing 10.5% despite challenging global economic conditions. Organic revenue grew 12.1%.

•

We improved our performance by optimizing our network and closing unprofitable shops. This is already generating improved performance in our U.S. Hubs without Spokes.

•

We saw GAAP Net Loss of $8.8 million, an improvement of 40.9% compared to 2021. This also included one-time expenses of $19.0 million related to the network optimization efforts, more than 90% of which were non-cash. Adjusted EBITDA grew 1.5% to $190.7 million in 2022, or 7.1% in constant currency. See Appendix A for a reconciliation of GAAP to non-GAAP results.

•

We sold a record number of fresh doughnuts in 2022, reaching 1.6 billion, and expanded our omni-channel model to almost 12,000 Points of Access, a 14% increase in fresh Points of Access from 2021.

2023 Director Nominees

NAME

PRINCIPAL OCCUPATION

YEARS
OF
SERVICE

INDEPENDENT

AUDIT &
FINANCE

REMUNERATION
&
NOMINATION

# OF
PUBLIC

CO.
BOARDS
(incl. KKI)

Michael Tattersfield

President and Chief Executive Officer of KKI

Olivier Goudet

Managing Partner and Chief Executive Officer of JAB Holding Company

Marissa Andrada

Former Chief Diversity, Inclusion and People Officer of Chipotle Mexican Grill

✓

Chair

David Bell

Senior Partner of JAB Holding Company

David Deno

Chief Executive Officer of Bloomin’ Brands, Inc.

✓

Chair

Paul Michaels

Former Chief Executive Officer of Mars, Incorporated

Lead

✓

Gerhard Pleuhs

Former Executive Vice President & General Counsel, Mondelez International, Inc.

✓

Debbie S. Roberts

Executive Vice President, Chief Operating Officer of Panera Bread

Lubomira Rochet

Partner of JAB Holding Company

Philip Telfer

Former Corporate Finance Staff Officer, Mars Asia Pacific

✓

Michelle Weese

Chief Corporate Affairs Officer of Bristol Myers Squibb

✓

2 | Krispy Kreme, Inc.

PROXY SUMMARY

Corporate Governance Highlights

Board Diversity and Independence

•

The Board has a majority of independent and non-employee directors (6 of 11)

•

The Board’s Audit and Finance Committee (the “Audit Committee”) and Remuneration and Nomination Committee (the “Remuneration Committee”) are composed solely of independent directors

•

Strong Lead Independent Director with clearly defined and robust responsibilities

•

Committed to Board diversity on gender with four women directors

•

The Board’s non-employee directors and independent directors meet regularly in executive session

•

Three nominees are affiliated with our largest stockholder, JAB Holdings B.V. (“JAB”), which owns 44.6% of our common stock through its affiliate

Board Practices

•

Annual election of all directors

•

Annual Board and Committee evaluations

•

Regular executive sessions of independent directors

•

Director stock ownership guidelines require equity holdings of at least 5x annual cash retainer

•

Directors limited to serving on no more than four public company boards (including KKI)

Oversight of Risk, Strategy, Ethics and ESG

•

Full Board responsible for risk oversight, with specific areas delegated to relevant Board committees

•

Code of Conduct applies to all directors, officers, and employees

•

Full Board and Global Leadership Team (“GLT”) share oversight of the Company’s Environmental, Social and Governance (“ESG”) strategy and the related long-term goals and commitments

•

Full Board approves and oversees strategy, in partnership with management

•

GLT develops the strategic plan, reflects on guidance and expectations set by the board, and executes on strategy and tactics

•

Full Board receives at least two management reports annually on ESG progress

Key Executive Compensation Practices

•

Strong pay-for-performance philosophy designed to link pay delivery to Company’s financial and market performance

•

Significant levels of direct investment and stock ownership required for all executives

•

Lengthy vesting periods for all equity awards

•

Independent compensation consultant reporting to the Remuneration Committee

•

No tax gross ups for regularly recurring personal expenses

•

Incentives do not encourage excessive risk taking

•

Clawback policy applicable to all incentive compensation programs

•

Double-trigger vesting upon a change in control

•

Hedging is prohibited

•

Minimal perquisites

Key ESG Commitments and Progress

•

Focused on achieving gender parity across our global Company-operated markets

•

Established a Diversity & Inclusion Council (sponsored by members of the GLT) and four U.S. employee resource groups

•

Raised more than $40 million globally through our FUNdraising programs to support local causes and organizations in fiscal year 2022

•

Reached 45% of our goal to use 100% cage-free eggs by 2025

•

95% of palm oil used in Company shops supports sustainable palm oil production

•

Collected Scopes 1 and 2 of our greenhouse gas (“GHG”) emissions data for the last two fiscal years and collecting data for Scope 3 emissions

2023 Proxy Statement | 3

PROPOSAL 1:

ELECTION OF DIRECTORS

Our Board recommends that you vote “FOR” the election of all director nominees

Proposal Summary

The Board has nominated the 11 candidates named in this proposal for election as directors at the Annual Meeting. Directors are elected annually and serve until their term expires at the 2024 Annual Meeting of Stockholders and until their respective successors are duly elected and qualified. Each nominee has agreed to be named in this Proxy Statement and to serve if elected. For each director nominee to be approved, votes cast “FOR” each nominee must exceed votes cast “AGAINST” such nominee. A failure to vote, a broker non-vote or an abstention will not be counted as having been voted on the applicable nominee, and therefore will have no effect on the vote, assuming a quorum is present.

Our Board currently consists of 11 directors, including three directors who are designated by JAB pursuant to the terms of the Investors’ Rights Agreement (the “IRA”), dated as of July 6, 2021, by and among KKI and JAB.

All nominees are currently serving as KKI directors.

Director Nomination Process

The Board is responsible for nominating the Company’s director candidates, with assistance in identifying and recommending nominees from the Remuneration Committee. The Remuneration Committee uses a variety of methods for identifying and evaluating nominees for director. Candidates may come to the attention of the Remuneration Committee through management, current Board members, stockholders, or other sources.

Members of the Remuneration Committee, the Lead Independent Director of the Board (the “Lead Director”) and other members of the Board interview potential director candidates as part of the selection process when evaluating new director candidates. The Remuneration Committee reviews the background of all potential nominees and determines whether they individually possess the personal and professional attributes necessary to be a director. Any feedback obtained through the Board’s annual self-evaluation process with respect to the ability of individual directors to contribute to the Board is also considered in connection with the nomination process. The Remuneration Committee will also consider director nominations by a stockholder made pursuant to the procedures set forth in our Amended and Restated By-Laws (the “By-Laws”) relating to stockholder nominations.

Following an extensive search and recruiting efforts led by the Remuneration Committee with the assistance of other members of the Board, the Remuneration Committee recommended two nominees to fill vacancies that occurred after the 2022 Annual Meeting of Stockholders. The Board elected Mr. Pleuhs and Mr. Telfer as directors in June 2022 and September 2022, respectively. Mr. Telfer became the sixth independent director, reconstituting a majority of independent directors on the Board.

Board Composition, Qualifications and Diversity

The Board is committed to the ongoing review of Board composition and regularly discusses the skills and characteristics required of KKI directors in the context of the current makeup of the Board, the operating requirements of the Company and the long-term interests of stockholders. The Remuneration Committee also reviews the collective experience of the Board and makes recommendations to the Board regarding the appropriate mix of skillsets, qualifications, and attributes of the Board as a whole.

The Board seeks candidates with diverse personal backgrounds and experiences and who are committed to active participation, fresh perspectives and providing constructive feedback to management. Our Board prioritizes candidates with proven executive leadership capabilities; consumer product industry expertise; strategic planning experience; financial and accounting skills; and corporate governance, regulatory and risk management experience. With respect to diversity, the Board may consider such factors as diversity in viewpoint, professional experience, education, international experience, skills and other individual qualifications and attributes that contribute to board diversity, including characteristics such as age, gender, race, and national origin. Specific attributes of our 2023 director nominees are summarized below.

4 | Krispy Kreme, Inc.

PROPOSAL 1: ELECTION OF DIRECTORS

Director Independence

Board Diversity Matrix

For the 11 directors serving as of March 8, 2023, and nominated to serve until the 2024 annual meeting of stockholders:

Gender Self-Identification

Female

Male

Non-Binary

Did Not
Disclose

Directors

Demographic Self-Identification

African American or Black

Alaskan Native or Native American

Asian

Hispanic or Latinx

Native Hawaiian or Pacific Islander

SEC Form DEF 14A filed by Krispy Kreme Inc.