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Kraft Foods Inc. (KFT) said Thursday its shareholders approved an amended performance incentive plan, according to a filing with the Securities and Exchange Commission.
The company said the amended plan includes a number of specific terms and limitations that the board believes reflects Kraft Foods' pay-for-performance philosophy and are consistent with the long-term interests of shareholders and sound corporate governance practices.
In addition, under the amended plan, the number of shares of common stock available for issuance under the plan was increased by 18 million shares.
-Ingrid Pedrick Lehrfeld, Dow Jones Newswires; 202-862-1361
(END) Dow Jones Newswires
05-21-09 1210ET
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