DEF 14A of Aramark, Dec 22, 2025

DEF 14A of Aramark

Filed Dec 22, 2025 · FY20250001584509-25-000256

Open on EDGAR

  1. PROPOSAL NO. 1 — ELECTION OF DIRECTORS

    PROPOSAL NO. 1 — ELECTION OF DIRECTORS

  2. PROPOSAL NO. 1 — ELECTION OF DIRECTORS

    | PROPOSAL SUMMARY What Are You Voting On? We are asking our shareholders to elect 11 director nominees listed below to serve on the Board of Directors (the "Board") for a one-year term. Information about the Board and each director nominee is included in this section. Voting Recommendation The Board recommends that you vote “FOR” each director nominee listed below. After consideration of the individual qualifications, skills and experience of each of our director nominees and his or her prior contributions to the Board, the Board believes a Board composed of the 11 director nominees would be well-balanced and effective. The Board, upon recommendation from the Nominating, Governance and Corporate Responsibility Committee (the “Nominating Committee”), has nominated 11 directors for election at the Annual Meeting. Each of the directors elected at the Annual Meeting will hold office until the Annual Meeting of Shareholders to be held in 2027 or until his or her successor has been elected and qualified, or until his or her earlier death, resignation, removal or disqualification. Unless contrary instructions are given, the shares represented by a properly executed proxy will be voted “FOR” each of the director nominees presented below. If, at the time of the meeting, one or more of the director nominees has become unavailable to serve, shares represented by proxies will be voted for the remaining director nominees and for any substitute director nominee or nominees designated by the Board of Directors, unless the size of the Board is reduced. The Board knows of no reason why any of the director nominees will be unavailable or unable to serve. Proxies cannot be voted for a greater number of persons than the director nominees listed. | | | | The Board of Directors recommends a vote “FOR” each nominee for director |

  3. PROPOSAL NO. 1 — ELECTION OF DIRECTORS

    | 2 | |

  4. OVERVIEW OF OUR DIRECTOR NOMINEES

    OVERVIEW OF OUR DIRECTOR NOMINEES Each of our 11 nominees has extensive leadership experience and relevant expertise and currently serves as a director for the Company. The Board undergoes an annual self-assessment and review to ensure that it has a balanced mix of skills and attributes to best oversee our business.

  5. OVERVIEW OF OUR DIRECTOR NOMINEES

    | Director | Age | Background | Current Committee Memberships | | Susan M. Cameron | 67 | Former Chairman and Chief Executive Officer, Reynolds American Inc. | •Compensation and Human Resources •Nominating, Governance and Corporate Responsibility | | Greg Creed | 68 | Former Chief Executive Officer, Yum! Brands, Inc. | •Compensation and Human Resources •Finance and Technology | | Brian M. DelGhiaccio | 52 | Executive Vice President and Chief Financial Officer, Republic Services, Inc. | •Audit •Nominating, Governance and Corporate Responsibility | | Richard W. Dreiling | 72 | Former Chairman and Chief Executive Officer, Dollar Tree Corporation | •Compensation and Human Resources •Nominating, Governance and Corporate Responsibility | | Bridgette P. Heller | 64 | Founder and Chief Executive Officer, The Shirley Procter Puller Foundation | •Finance and Technology •Nominating, Governance and Corporate Responsibility | | Kenneth M. Keverian | 68 | Former Chief Strategy Officer, IBM Corporation | •Audit •Finance and Technology | | Karen M. King | 69 | Former Executive Vice President, Chief Field Officer, McDonald’s Corp. | •Audit •Finance and Technology | | Patricia E. Lopez | 64 | Former Chief Executive Officer, High Ridge Brands Co. | •Audit •Compensation and Human Resources | | Stephen I. Sadove | 74 | Former Chairman and Chief Executive Officer, Saks Incorporated | •Compensation and Human Resources •Nominating, Governance and Corporate Responsibility | | Kevin G. Wills | 60 | Chief Financial Officer, Authentic Brands Group | •Audit •Finance and Technology | | John J. Zillmer | 70 | Chief Executive Officer, Aramark | None |

  6. OVERVIEW OF OUR DIRECTOR NOMINEES

    | | 3 |

  7. DIRECTOR NOMINEES

    DIRECTOR NOMINEES The following sections describe certain information regarding our director nominees as of December 22, 2025.

  8. Director Nominee Composition

    Director Nominee Composition

  9. Director Nominee Skills, Experience, and Background

    Director Nominee Skills, Experience, and Background The Board regularly reviews the skills, experience, and background that it believes are desirable to be represented on the Board and that align with the Company’s strategic vision, and business and operations. The following is a summary of some of the skills, experience, and background that our director nominees bring to the Board:

  10. Director Nominee Skills, Experience, and Background

    | 4 | |

  11. Director Nominee Skills, Experience, and Background

    | | | | | | | Susan M Cameron | Director since: 2019 | Age: 67 | | | Former Chairman and Chief Executive Officer, Reynolds American Inc. | | | | | Biography: Susan M. Cameron most recently served as the Non-Executive Chairman of Reynolds American Inc. from May 2017 to July 2017, its Executive Chairman from January 2017 to May 2017, and its President and Chief Executive Officer and member of the board of directors from 2014 to December 2016 and 2004 to 2011. Prior to that, Ms. Cameron held various marketing, management and executive positions at Brown & Williamson Tobacco Corporation, a U.S. tobacco company. She currently serves as a director of nVent Electric plc and privately-held Thought Leaders. Ms. Cameron previously served as a director of Reynolds American Inc., R.R. Donnelley & Sons Company, and Tupperware Brands Corporation. Skills & Qualifications: Ms. Cameron’s experience as a public company CEO, her experience on the boards of other public companies and her considerable experience in the marketing for international name-brand consumer products companies enable her to provide key leadership and strategic perspectives to the Board. | | | | Experience Highlights: | | | | | CEO Leadership, Compensation, Human Resources & Culture, C-Suite Leadership, Public Company Board Service, Strategy Development, Traditional & Digital Marketing & Sales | | | | | Independent Director Aramark Committees: | | | | | Compensation & Human Resources (Chair); Nominating, Governance and Corporate Responsibility | | | | | Other Public Boards: | | | | | nVent Electric plc | | | |

  12. Director Nominee Skills, Experience, and Background

    | | | | | | | Greg Creed | Director since: 2020 | Age: 68 | | | Former Chief Executive Officer, Yum! Brands, Inc. | | | | | Biography: Greg Creed most recently served as the Chief Executive Officer of YUM! Brands, Inc. from January 2015 to January 1, 2020, its Chief Executive Officer of Taco Bell Division from 2011 to 2014, and as President and Chief Concept Officer of Taco Bell U.S. from 2007 to 2011 after holding various other positions with the company since 1994. Mr. Creed currently serves as the lead director of Whirlpool Corporation, and as a director of Delta Air Lines, Inc., and privately-held NetBase/Quid. He previously served as a director of YUM! Brands, Inc. and Sow Good Inc. Skills & Qualifications: Mr. Creed’s expertise as a public company CEO for a leading global operator of quick service restaurants allows him to contribute key insights and strategic leadership to the Board. His international experience is also very valuable to the Board. | | | | Experience Highlights: | | | | | ARMK & Related Industry Experience, CEO Leadership, Compensation, Human Resources & Culture, C-Suite Leadership, Disruptive Risk & Innovation, International Operations, Public Company Board Service, Strategy Development, Traditional & Digital Marketing & Sales | | | | | Independent Director Aramark Committees: | | | | | Compensation & Human Resources; Finance and Technology (Chair) | | | | | Other Public Boards: | | | | | Whirlpool Corporation, Delta Air Lines, Inc. | | | |

  13. Director Nominee Skills, Experience, and Background

    | | 5 |

  14. Director Nominee Skills, Experience, and Background

    | | | | | | Brian M. DelGhiaccio | Director since: 2024 | Age: 52 | | | Executive Vice President and Chief Financial Officer, Republic Services, Inc. | | | | | Biography: Brian DelGhiaccio is currently Executive Vice President and Chief Financial Officer of Republic Services, Inc., a large provider of environmental services in the U.S., and has been in such position since 2020. Prior to that, Mr. DelGhiaccio served as Executive Vice President and Chief Transformation Officer from 2019 to 2020. Before that, Mr. DelGhiaccio served as Senior Vice President, Business Transformation from 2017 to 2019, Senior Vice President, Finance from 2014 to 2017 and as Vice President, Investor Relations from 2012 to 2014. Prior to his time at Republic Services, Mr. DelGhiaccio was in the audit practice of Arthur Andersen. Skills & Qualifications: Mr. DelGhiaccio’s executive experience as a Chief Financial Officer enables him to provide our Board with knowledgeable perspectives on accounting and auditing matters as well as strategic planning and mergers & acquisitions. The Board has determined Mr. DelGhiaccio to be an audit committee financial expert. | | | | | | | | Experience Highlights: | | | | | Accounting & Finance, C-Suite Leadership, Corporate Finance & Capital Markets, M&A & Business Development, Strategy Development | | | | | Independent Director Aramark Committees: | | | | | Audit; Nominating, Governance and Corporate Responsibility | | | | | Other Public Boards: | | | | | None |

  15. Director Nominee Skills, Experience, and Background

    | | | | | | Richard W. Dreiling | Director since: 2024 | Age: 72 | | | Former Chairman and Chief Executive Officer, Dollar Tree Corporation | | | | | Biography: Richard Dreiling is the former Executive Chairman and Chief Executive Officer of Dollar Tree, Inc., a leading operator of discount variety stores, serving as Chief Executive Officer from January 2023 to November 2024 and Executive Chairman from March 2022 to November 2024. Before joining Dollar Tree, Mr. Dreiling served as the Chairman and Chief Executive Officer of Dollar General Corporation, serving as Chief Executive Officer from January 2008 until June 2015 and Chairman of the board of directors from December 2008 until January 2016. He was previously the Chief Executive Officer, President and a director of Duane Reade Holdings, Inc. and Duane Reade, Inc. from November 2005 until January 2008, and Chairman of the Board of Duane Reade from March 2007 until January 2008. Prior to that, beginning in March 2005, Mr. Dreiling served as Executive Vice President - Chief Operating Officer of Longs Drug Stores Corporation, an operator of a chain of retail drug stores on the West Coast and Hawaii, after having joined Longs in July 2003 as Executive Vice President and Chief Operations Officer. From 2000 to 2003, Mr. Dreiling served as Executive Vice President - Marketing, Manufacturing and Distribution at Safeway, Inc. Prior to that, Mr. Dreiling served from 1998 to 2000 as President of Vons, a southern California food and drug division of Safeway. Mr. Dreiling currently serves as a director of Lowes Companies, Inc. He previously served as a director of Aramark, Kellanova (formerly known as Kellogg Company), and PulteGroup, Inc. Skills & Qualifications: Mr. Dreiling's over 50 years of retail industry experience at all operating levels adds significant value to the Board. Mr. Dreiling has served as Chief Executive Officer of multiple large public companies and was previously a director of Aramark from 2016 to 2022. He brings to the Board valuable insight and leadership as a result of that experience. | | | | | | | | Experience Highlights: | | | | | Accounting & Finance, ARMK & Related Industry Experience, CEO Leadership, C-Suite Leadership, Corporate Finance & Capital Markets, Strategy Development | | | | | Independent Director Aramark Committees: | | | | | Compensation & Human Resources; Nominating, Governance and Corporate Responsibility | | | | | Other Public Boards: | | | | | Lowes Companies, Inc. |

  16. Director Nominee Skills, Experience, and Background

    | 6 | |

  17. Director Nominee Skills, Experience, and Background

    | | | | | | | Bridgette P. Heller | Director since: 2021 | Age: 64 | | | Founder and Chief Executive Officer, The Shirley Procter Puller Foundation | | | | | Biography: Bridgette P. Heller is the founder and CEO of the Shirley Proctor Puller Foundation, a small non-profit committed to generating better educational outcomes for underserved children in St. Petersburg, Florida. Previously, Ms. Heller served as the Executive Vice President and President of Nutricia, the Specialized Nutrition Division of Danone from July 2016 to August 2019. From 2010 to 2015, she served as Executive Vice President of Merck & Co., Inc. and President of Merck Consumer Care. Prior to joining Merck, Ms. Heller was President of Johnson & Johnson’s Global Baby Business Unit from 2007 to 2010 and President of its Global Baby, Kids, and Wound Care business from 2005 to 2007. She also worked for Kraft Foods from 1985 to 2002, ultimately serving as Executive Vice President and General Manager for the North American Coffee Portfolio. Ms. Heller serves as a director of Dexcom, Inc., Integral Ad Science Holding Corp., Novartis AG, and privately-held Newman’s Own Inc. She previously served as a director of Tech Data Corporation and ADT Corporation. Skills & Qualifications: Ms. Heller’s substantial experience and expertise in the food and nutrition industries provides the Board with key insights on that significant portion of the Company’s business as well as consumer focused businesses generally. | | | | Experience Highlights: | | | | | C-Suite Leadership, International Operations, Public Company Board Service, Strategy Development, Traditional & Digital Marketing & Sales | | | | | Independent Director Aramark Committees: | | | | | Finance and Technology; Nominating, Governance and Corporate Responsibility | | | | | Other Public Boards: | | | | | DexCom, Inc., Novartis AG, Integral Ad Science Holding Corp. | | | |

  18. Director Nominee Skills, Experience, and Background

    | | | | | | | Kenneth M. Keverian | Director since: 2022 | Age: 68 | | | Former Chief Strategy Officer, IBM Corporation | | | | | Biography: Kenneth M. Keverian currently serves as a Senior Advisor to Boston Consulting Group, a global consulting firm, and as advisor to several other companies. From 2014 until July 2020, Mr. Keverian was the Chief Strategy Officer of IBM Corporation. Prior to joining IBM Corporation, Mr. Keverian was a Senior Partner of Boston Consulting Group, where he served clients in the computing, transportation, consumer, retail, media and entertainment sectors from 1988 until 2014. Prior to that, he was a Development Team Leader for AT&T Bell Laboratories. Skills & Qualifications: Mr. Keverian’s extensive experience developing business strategies and executable plans for complex organizations, including over 30 years in the technology industry, provides important insights to the Board. | | | | Experience Highlights: | | | | | ARMK & Related Industry Experience, C-Suite Leadership, Disruptive Risk & Innovation, IT & Cyber Security, M&A and Business Development, Strategy Development | | | | | Independent Director Aramark Committees: | | | | | Audit; Finance and Technology | | | | | Other Public Boards: | | | | | None | | | |

  19. Director Nominee Skills, Experience, and Background

    | | 7 |

  20. Director Nominee Skills, Experience, and Background

    | | | | | | Karen M. King | Director since: 2019 | Age: 69 | | | Former Executive Vice President, Chief Field Officer, McDonald’s Corp. | | | | | Biography: Karen M. King is the former Executive Vice President, Chief Field Officer of McDonald’s Corp. from 2015 to 2016. Prior to that, Ms. King held various management and executive positions at McDonald’s Corp. since 1994, including having served as its Chief People Officer, President, East Division, Vice-President, Strategy and Business Development and General Manager and Vice President, Florida Region, among others. Ms. King currently serves as a director of the privately-owned Altamonte Capital Partners and Mini Melts USA. Skills & Qualifications: Ms. King’s substantial experience and expertise in field operations and talent development for a high head count business in the quick service food industry provides the Board with key insights and perspective on operations, consumer focused marketing and service delivery. | | | | | | | | Experience Highlights: | | | | | ARMK & Related Industry Experience, C-Suite Leadership, IT & Cyber Security, Strategy Development | | | | | Independent Director Aramark Committees: | | | | | Audit; Finance and Technology | | | | | Other Public Boards: | | | | | None |

  21. Director Nominee Skills, Experience, and Background

    | | | | | | Patricia E. Lopez | Director since: 2022 | Age: 64 | | | Former Chief Executive Officer, High Ridge Brands Co. | | | | | Biography: Patricia E. Lopez most recently served as Chief Executive Officer and member of the board of directors of High Ridge Brands Co., a Clayton, Dubilier & Rice Company, from 2017 until April 2020. Before joining High Ridge Brands Co., Ms. Lopez served as a Senior Vice President of The Estée Lauder Companies Inc. from 2015 until 2016 and Chief Marketing Officer of Avon Products, Inc. from 2012 until 2015. Prior to that, Ms. Lopez worked for The Procter & Gamble Company from 1983 to 2012, where she held various roles in the Latin America and United States before ultimately serving as Vice President and General Manager of Eastern Europe in Russia. Ms. Lopez currently serves as a director of Domino’s Pizza, Inc. and the privately-owned Recreational Equipment, Inc. She previously served as a director of Express, Inc. Skills & Qualifications: Ms. Lopez’s diverse global business experience in both marketing and operations as well as her experience on the boards of other public companies provides key insights to the Board. | | | | | | | | Experience Highlights: | | | | | CEO Leadership, C-Suite Leadership, International Operations, Public Company Board Service, Strategy Development, Traditional & Digital Marketing & Sales | | | | | Independent Director Aramark Committees: | | | | | Audit; Compensation & Human Resources | | | | | Other Public Boards: | | | | | Domino’s Pizza, Inc. |

  22. Director Nominee Skills, Experience, and Background

    | 8 | |

  23. Director Nominee Skills, Experience, and Background

    | | | | | | | Stephen I. Sadove | Director since: 2013 | Age: 74 | | | Former Chairman and Chief Executive Officer, Saks Incorporated | | | | | Biography: Stephen I. Sadove is currently principal of Stephen Sadove & Associates and a founding partner of JW Levin Partners. He served as Chief Executive Officer of Saks Incorporated from 2006 until November 2013 and Chairman and CEO from May 2007 until November 2013. He was Chief Operating Officer of Saks from 2004 to 2006. Prior to joining Saks in 2002, Mr. Sadove was with Bristol-Myers Squibb Company from 1991 to 2002, first as President, Clairol from 1991 to 1996, then President, Worldwide Beauty Care from 1996 to 1997, then President, Worldwide Beauty Care and Nutritionals from 1997 to 1998, and finally, Senior Vice President and President, Worldwide Beauty Care. He was employed by General Foods Corporation from 1975 to 1991 in various managerial roles, most recently as Executive Vice President and General Manager, Desserts Division from 1989 until 1991. Mr. Sadove currently serves as a director of Park Hotels & Resorts Inc., Movado Group, Inc. and privately-owned Belk, Inc. and Waterloo Sparkling Water. He previously served as director of Colgate Palmolive Company, Ruby Tuesday, Inc., and J.C. Penney Company, Inc. Skills & Qualifications: Mr. Sadove’s extensive knowledge of financial and operational matters in the retail industry, including as to technology matters, and his experience as a public company Chief Executive Officer are highly valuable to the Board. In addition, Mr. Sadove’s service on a number of public company boards provides important insights to the Board on governance and similar matters. | | | | Experience Highlights: | | | | | ARMK & Related Industry Experience, CEO Leadership, C-Suite Leadership, International Operations, Public Company Board Service, Strategy Development, Traditional & Digital Marketing & Sales | | | | | Independent Director Aramark Committees: | | | | | Compensation & Human Resources; Nominating, Governance and Corporate Responsibility (Chair) | | | | | Other Public Boards: | | | | | Park Hotels & Resorts Inc., Movado Group, Inc. | | | |

  24. Director Nominee Skills, Experience, and Background

    | | | | | | | Kevin G. Wills | Director since: 2023 | Age: 60 | | | Chief Financial Officer, Authentic Brands Group | | | | | Biography: Kevin G. Wills is currently Chief Financial Officer of Authentic Brands Group, a leading owner of sports, lifestyle and entertainment intellectual property. Prior to joining Authentic Brands Group, he served as Chief Financial Officer of Pilot Company, a private company, from 2019 to 2023, and Chief Financial Officer of Tapestry Incorporated, a publicly traded company, from 2017 to 2019. Mr. Wills was formerly an independent director of Tivity Health, for which he was the Audit Committee Chair for two years and the Chairman of the Board for five years. Skills & Qualifications: Mr. Wills' executive experience as a Chief Financial Officer for several large companies provides the board with invaluable insights on accounting and auditing matters, strategy, corporate finance, and mergers and acquisitions. The Board has determined Mr. Wills to be an audit committee financial expert. | | | | Experience Highlights: | | | | | Accounting & Finance, Corporate Finance & Capital Markets, C-Suite Leadership, M&A and Business Development, Public Company Board Service, Strategy Development | | | | | Independent Director Aramark Committees: | | | | | Audit (Chair); Finance and Technology | | | | | Other Public Boards: | | | | | None | | | |

  25. Director Nominee Skills, Experience, and Background

    | | 9 |

  26. Director Nominee Skills, Experience, and Background

    | | | | | | John J. Zillmer | Director since: 2019 | Age: 70 | | | Chief Executive Officer, Aramark | | | | | Biography: John J. Zillmer has been our Chief Executive Officer since October 2019. Prior to joining us, Mr. Zillmer served as Chief Executive Officer and Executive Chairman of Univar from 2009 until 2012. Prior to that, Mr. Zillmer served as Chairman and Chief Executive Officer of Allied Waste Industries from 2005 to 2008 and in various positions at Aramark, including Vice President of Operating Systems, Regional Vice President, Area Vice President, Executive Vice President Business Dining Services, President of Business Services Group, President of International and President of Global Food and Support Services, from 1986 to 2005. Mr. Zillmer serves on the board of directors as Non-Executive Chair of CSX Corporation, as well as a director of Ecolab, Inc. Mr. Zillmer was formerly on the board of directors of Veritiv Corporation, Performance Food Group (PFG) Company, Inc. and Reynolds American, Inc. Skills & Qualifications: Having served as our CEO since October 2019 and with over 30 years of experience in the managed food and services hospitality industry, including 29 years with Aramark, Mr. Zillmer’s extensive knowledge of the Company and the industries in which it is engaged are invaluable to the Board. In addition, Mr. Zillmer’s experience prior to joining Aramark as a Chief Executive Officer of two public companies provides key leadership experience and perspective and is greatly valued by the Board. | | | | | | | | Experience Highlights: | | | | | ARMK & Related Industry Experience, CEO Leadership, C-Suite Leadership, Compensation, Human Resources & Culture, International Operations, M&A and Business Development, Public Company Board Service, Strategy Development, Supply Chain, Traditional & Digital Marketing & Sales | | | | | Independent Director Aramark Committees: | | | | | None | | | | | Other Public Boards: | | | | | CSX Corporation, Ecolab, Inc. |

  27. Director Nominee Skills, Experience, and Background

    | 10 | |

  28. DIRECTOR COMPENSATION

    DIRECTOR COMPENSATION

  29. Director Compensation Table for Fiscal 2025

    Director Compensation Table for Fiscal 2025 The following table sets forth compensation information for our non-employee directors in fiscal 2025.

  30. Director Compensation Table for Fiscal 2025

    | NAME | FEES EARNED OR PAID IN CASH(1) ($) | STOCK AWARDS(2) ($) | CHANGE IN PENSION VALUE AND NQ DEFERRED COMPENSATION EARNINGS(3) ($) | ALL OTHER COMPENSA- TION(4) ($) | TOTAL ($) | | Susan M. Cameron | 138,379 | 195,000 | — | — | 333,379 | | Greg Creed | 131,758 | 195,000 | — | 10,000 | 336,758 | | Brian M. DelGhiaccio | 108,379 | 195,000 | — | 10,000 | 313,379 | | Richard W. Dreiling(5) | 87,610 | 217,386 | — | — | 304,996 | | Bridgette P. Heller | 108,379 | 195,000 | — | 10,000 | 313,379 | | Kenneth M. Keverian | 108,379 | 195,000 | — | 10,000 | 313,379 | | Karen M. King | 108,379 | 195,000 | — | 10,323 | 313,702 | | Patricia E. Lopez | 108,379 | 195,000 | 117 | — | 303,496 | | Stephen I. Sadove | 208,379 | 295,035 | — | 23,884 | 527,298 | | Kevin G. Wills | 138,379 | 195,000 | 930 | 7,500 | 341,809 |

  31. Director Compensation Table for Fiscal 2025

    (1)Includes base director retainers at an annual rate of $105,000 until January 24, 2025, and an annual rate of $110,000 after that date, as well as a Chairman retainer at an annual rate of $100,000 for Mr. Sadove. Committee chairperson retainers at an annual rate of $30,000 were provided to Mr. Wills and Ms. Cameron for chairing the Audit Committee and the Compensation Committee and a retainer at an annual rate of $20,000 was provided to Mr. Creed for chairing the Finance Committee until January 24, 2025, when the Finance Committee chair retainer was increased to an annual rate of $25,000. Mr. Sadove has declined his receipt of the retainer for serving as chairperson of the Nominating Committee. Messrs. Dreiling and Creed (inclusive of chair retainer) elected to defer 100% of their respective cash retainers into DSUs and Ms. Lopez and Mr. Wills (inclusive of chair retainer) elected to defer 100% of their respective cash retainers under the 2005 Deferred Cash Plan. (2)Represents the aggregate grant date fair value computed in accordance with FASB ASC Topic 718 with respect to the 5,000 DSUs granted to all directors on January 24, 2025 with a grant date fair value of $39.00 per DSU with the exception of Messrs. Sadove and Dreiling. Mr. Sadove was granted 7,565 DSUs on January 24, 2025 as Chairman. Mr. Dreiling received a grant of 5,574 DSUs which included his annual grant and a pro rata grant reflective of his service since from December 9, 2024 to the date of the annual meeting. As of the end of fiscal 2025, directors held the following deferred stock units (including dividend equivalent units), all of which are vested except for those granted on January 24, 2025 and related dividend equivalents.

  32. Director Compensation Table for Fiscal 2025

    | Name | DSU and Equivalents | Name | DSU and Equivalents | | Susan M. Cameron | 42,826 | Kenneth M. Keverian | 23,793 | | Greg Creed | 59,334 | Karen M. King | 11,442 | | Brian M. DelGhiaccio | 11,142 | Patricia E. Lopez | 23,793 | | Richard W. Dreiling | 7,132 | Stephen I. Sadove | 80,531 | | Bridgette P. Heller | 30,416 | Kevin G. Wills | 11,142 |

  33. Director Compensation Table for Fiscal 2025

    For additional information on the valuation assumptions and more discussion with respect to the deferred stock units, refer to Note 12 to our audited consolidated financial statements in our Annual Report on Form 10-K for the fiscal year ended October 3, 2025. (3)Includes amounts earned on deferred compensation in excess of 120% of the applicable federal rate, based upon the above-market return at the time the rate basis was set. (4)The following are included in this column: a)Charitable contributions of $20,000 made in the name of or on behalf of Mr. Sadove, $10,323 on behalf of Ms. King, $10,000 on behalf of Messrs. Creed, DelGhiaccio, Keverian and Ms. Heller, and $7,500 on behalf of Mr. Wills in accordance with the Company’s director charitable contribution matching program. b)The dollar value of dividend equivalents accrued on deferred stock units granted prior to February 5, 2014 (the date the Company announced the payment of its first quarterly dividend) where dividends were not factored into the grant date fair value are required to be reported for such awards. The total value of dividend equivalents accrued on deferred stock units for the directors during fiscal 2025, in each case for awards granted prior to February 5, 2014 for Mr. Sadove is $3,884. For awards granted on or after February 5, 2014, the value of dividend equivalents allocated to deferred stock units in the form of additional units with the same vesting terms as the original awards is not included in this column because their value is factored into the grant date fair value of awards. Additional units awarded in connection with dividend adjustments are subject to vesting and delivery conditions as part of the underlying awards. (5)Mr. Dreiling was appointed to the Board on December 9, 2024 and received a pro rated amount of annual cash compensation of $87,610 to account for his time in service from December 9, 2024 to October 3, 2025.

  34. Director Compensation Table for Fiscal 2025

    | | 19 |

  35. CD&A Contents

    | 1. Executive Summary | | | Executive Compensation Principles | 26 | | 2025 Shareholder Advisory Vote | 27 | | 2025 Performance Results | 28 | | 2025 Executive Compensation Highlights | 28 | | 2. Compensation Program Features | | | Overview of Compensation Components | 33 | | Incentive Plan Payouts | 35 | | Other Compensation Components | 39 | | 3. Compensation Decisions and Rationale | | | Market Benchmarking | 40 | | 2025 Compensation Peer Group | 40 | | Compensation Survey Data | 41 | | 4. Compensation Governance Policies | | | Independent Compensation Consultant | 42 | | Equity Grant Procedures | 43 | | Risk Mitigation Policies | 43 | | Compensation Risk Disclosure | 44 | | Other Compensation Matters | | | 1. Executive Compensation Tables | | | Summary Compensation Table | 46 | | Grants of Plan-Based Awards | 47 | | Outstanding Equity Awards | 48 | | Option Exercises and Stock Vested | 51 | | Nonqualified Deferred Compensation | 51 |

  36. CD&A EXECUTIVE SUMMARY

    CD&A EXECUTIVE SUMMARY Aramark is a leading global provider of food and facilities services. We proudly serve the world’s leading educational institutions, Fortune 500 companies, world champion sports teams, prominent healthcare providers, iconic destinations and cultural attractions, and numerous municipalities in 16 countries around the world. We also provide our services on a more limited basis in several additional countries and in offshore locations. Our executive compensation program is designed to retain and motivate executives and reward achievement of the Company’s performance goals in a way that is fully aligned with value created for our shareholders. This is important because our Company’s performance is very much dependent on the talents, skills, and engagement of our leadership team. We generally measure the Company’s performance by sales growth, earnings, return on invested capital, and free cash flow, and these metrics are reflected in our incentive plans. By focusing on these performance metrics, we believe our incentive plans drive broader shareholder value creation. We tie our executives’ long-term interests with those of our shareholders through equity compensation awards and including a Relative Total Shareholder Return metric into our performance stock unit ("PSU") awards. The equity is typically delivered in the form of PSUs, stock options, and restricted stock units ("RSUs"). PSUs make up 50% of the grant to ensure value is delivered only to the extent long-term performance objectives are achieved. Our executives are also measured by their individual contributions to the Company’s success, and this is a consideration in base salary adjustment decisions.

  37. Executive Compensation Program and Practices Overview

    | What We Do | What We Don’t Do | | ✓ Risk Mitigation – Multiple metrics and measurement periods in incentives mitigate risk that executives will be motivated to solely pursue results related to one metric. ✓ Compensation Recoupment Policy – Robust “clawback” policies for pay in certain circumstances including an Incentive Compensation Clawback Policy pursuant to Dodd-Frank. ✓ Stock Ownership Guidelines – All NEOs and directors are subject to ownership guidelines with conditional holding requirements. ✓ Double-Trigger Change-in-Control Provisions – Both a change-in-control and termination are required for equity vesting acceleration and other benefits to apply. ✓ Annual Say-on-Pay Vote – We seek annual shareholder feedback on our executive pay program and directly engage with our shareholders on executive pay matters. ✓ Annual Evaluation – We annually review our executive pay program to ensure it continues to align with market. ✓ Independent Advisor – Independent consultant provides advice directly to the Compensation Committee. ✓ Multiple LTI Vehicles – Use of PSUs, stock options, and RSUs provides a balanced approach that focuses executives on key financial achievements (PSUs), direct shareholder alignment and long-term share price growth (stock options), and retention and alignment with shareholders (RSUs). ✓ Multi-dimensional Performance Assessment – Our incentive metrics, in combination, provide a comprehensive assessment of performance, including the income statement, balance sheet, cash-flows, and market performance. | × No Guaranteed Bonuses – Our annual bonus plans are performance-based and do not include any minimum payment levels or guarantees. × No Executive Pensions or Supplemental Executive Retirement Plans × No Hedging or Pledging – We prohibit directors and executive officers from engaging in hedging or pledging Aramark shares. × No Dividends on Unvested Equity Awards – We do not pay dividends or dividend equivalents on equity awards prior to vesting. × No Repricing or Exchange of Underwater Stock Options × No Tax Gross-Ups – We do not provide gross-ups on benefits or perquisites in any employment agreements. × No Recycling of Shares withheld for taxes. |

  38. Target Executive Pay Mix

    Target Executive Pay Mix A significant percentage of executive pay is variable, at risk, and performance-based. A majority is delivered as equity, which promotes alignment with shareholder interests and creates incentives for long-term value creation. The CEO’s target pay is 90% performance-based, while other NEOs, on average, have target pay that is 78% performance-based. PSUs comprised 50% of the fiscal 2025 equity grants. Below we show the fiscal 2025 target NEO pay mix with equity award values based on the grant date fair value. Actual equity amounts realized will differ.

  39. CEO Target Annual Compensation Mix

    | Salary 10% | + | Target Annual Incentive 19% | + | PSUs 35% | + | Options 21% | + | RSUs 14% | | | | | | 71% Linked to Aramark’s Share Price | | | | | | | | 90% Performance-Based | | | | | | |

  40. Average Other NEO Target Annual Compensation

    | Salary 22% | + | Target Annual Incentive 21% | + | PSUs 28% | + | Options 17% | + | RSUs 12% | | | | | | 58% Linked to Aramark’s Share Price | | | | | | | | 78% Performance-Based | | | | | | |

  41. Fiscal 2025 Annual Incentives

    Fiscal 2025 Annual Incentives Following our fiscal 2024 performance, we continued to set aggressive fiscal 2025 annual incentive targets. Overall, fiscal 2025 performance in Net New Sales, Free Cash Flow and ESG Scorecard performance exceeded target while Adjusted Operating Income fell short of target, resulting in above target payouts for the NEOs. Below we show our performance relative to the consolidated metrics that were used to determine payouts. Each NEO’s bonus is determined 100% based on consolidated metric results except for Mr. Bruno’s whose payout is based 26% on consolidated metrics and 74% on U.S. Food & Facilities metric results – see CD&A details for performance achievement relative to Mr. Bruno’s U.S. Food & Facilities metrics. Reconciliation of Adjusted Operating Income and Free Cash Flow to measures calculated in accordance with generally accepted accounting principles (“GAAP”) is provided in Annex A Percentages may not add up exactly due to rounding

  42. Long-Term Incentives (2023 - 2025 Performance Period)

    Long-Term Incentives (2023 - 2025 Performance Period) Immediately following the end of fiscal 2023, Aramark completed the spin-off of the uniform and workplace supplies business into a standalone public company (the "Separation"). In order to ensure ongoing focus and alignment with Aramark's strategic goals, on October 13, 2023 pursuant to the terms of the Third Amended and Restated 2013 Stock Incentive Plan, the Compensation Committee approved amendments to the performance goals and performance periods for the PSUs that were then outstanding. The performance measures applicable to each PSU were retained; however, the performance goals were adjusted to reflect pre and post Separation performance, based on the original three-year strategic plans utilized to set the original targets. The PSUs granted in fiscal 2023 which were subject to performance targets for the three-year period ending October 3, 2025, were amended by the Compensation Committee on October 13, 2023 to reflect the Company on a post-Separation basis. The Relative TSR performance period was also shortened to two fiscal years from September 30, 2023 through October 3, 2025, relative to a new Performance Peer Group more reflective of Aramark's post-Separation business. In November 2025, the Compensation Committee determined that 89.1% of target of the PSUs subject to the fiscal 2023 to fiscal 2025 performance period were earned based on the level of achievement attained relative to the amended targets. Three-year revenue growth exceeded target, cumulative Earnings per Share was below target, and fiscal 2025 Return on Invested Capital was below threshold performance. Aramark's Total Shareholder Return relative to the 2023 Performance Peer Group was above median relative to peers, resulting in an above target earned payout. The fiscal 2023 to fiscal 2025 PSUs are subject to an additional year of time vesting after the end of the performance period and will be paid out on October 2, 2026, subject to continued employment or a qualifying termination.

  43. Long-Term Incentives (2023 - 2025 Performance Period)

    | | 31 |

  44. Long-Term Incentives (2023 - 2025 Performance Period)

    | END OF CD&A EXECUTIVE SUMMARY |

  45. Long-Term Incentives (2023 - 2025 Performance Period)

    | 32 | |

  46. Overview of Compensation Components

    | | Element | Vehicle / Description | Link to Strategy | | | Base Salary | •Cash •Base salaries are determined based on scope of responsibility, experience, and performance | •To attract and compensate high-performing and experienced leaders competitively with market and fairly among Aramark executives | | | Annual Incentives | •Cash •100% evaluated on a formulaic basis relative to pre-established performance goals | •To motivate and reward executives for achieving annual corporate, business, and function goals in key areas of financial performance | | | Long-Term Incentives (LTI) | •Performance Stock Units: 50% | •To focus executives on the achievement of specific long-term performance goals directly aligned with our strategic operating plans •PSUs are equally earned based on the performance of three-year earnings per share and three-year return on invested capital. The results are then modified +/- 20% based on relative total shareholder return (TSR) performance | | | | •Stock Options: 30% | •Directly aligns the interests of executives with shareholders. Stock options only have value for executives if performance results in stock price appreciation after the grant date. | | | | •Restricted Stock Units: 20% | •Strengthens key executive retention to promote executive team consistency and successful execution of long-term strategies |

  47. Target Annual Incentives

    Target Annual Incentives The annual cash incentive is designed to drive and reward performance and is based on financial objectives established by the Compensation Committee at the beginning of each fiscal year. The incentive targets for each NEO are established based on market competitive data (see Market Benchmarking) for each executive’s role. Annual incentive targets as a percentage of base salary are provided in the table below. Actual earned payouts can vary from 0% to 200% of target except for fiscal 2025 where the maximum payout is 198% of target. In fiscal 2024, the Compensation Committee approved an increase to Mr. Bruno's annual incentive target from 100% of base salary to 125% of base salary. The Compensation Committee approved an increase to Mr. Zillmer's target bonus for fiscal 2025 from 175% to 200% of base salary, the first increase since his appointment in October 2019. Mr. Tarangelo was promoted in fiscal 2024 and was not a NEO in fiscal 2023. For Fiscal 2026, the Compensation Committee approved an increase to Mr. Tarangelo's target bonus from 85% to 100% to further align to the market.

  48. Target Annual Incentives

    | | | Fiscal 2024 | | Fiscal 2025 | | Fiscal 2026 | | | NEO | Job Title | Target | % Change | Target | % Change | Target | % Change | | John Zillmer | CEO | 175% | —% | 200% | 14% | 200% | —% | | James Tarangelo | EVP, CFO | 85% | —% | 85% | —% | 100% | 18% | | Marc Bruno | COO, US Food & Facilities | 125% | 25% | 125% | —% | 125% | —% | | Lauren Harrington | EVP, General Counsel | 85% | —% | 85% | —% | 85% | —% | | Abigail Charpentier | EVP, CHRO | 85% | —% | 85% | —% | 85% | —% |

  49. Target Annual Incentives

    | 34 | |

  50. Fiscal 2025 Annual Incentive Performance Metrics

    Fiscal 2025 Annual Incentive Performance Metrics The Annual Incentive Plan included four objectives – Net New Sales, Adjusted Operating Income, Free Cash Flow and an ESG Scorecard. The Company must attain a threshold performance on each measure for the participant to be entitled to receive any payout for such metric. For fiscal 2025, the compliance related metric within the ESG scorecard had a maximum payout of 100% of target while the remaining metrics had a maximum payout of 200% of target. Therefore, if maximum performance was achieved across all metrics, maximum payout for fiscal 2025 would be 198% of target.

  51. Fiscal 2025 Annual Incentive Performance Metrics

    | | Metric | Description | Rationale | | | Net New Sales | •Annualized new business less annualized lost business | •Incentivizes management to drive sales growth which is critical to the Company’s profitable growth strategy | | | Adjusted Operating Income | •Adjusted operating income | •Focuses management on driving profitable growth while managing expenses •Focuses management on overall profitability of the Company | | | Free Cash Flow | •Cash flows provided from operating activities less net purchases of property and equipment and other | •Focuses management on achievement of positive free cash flow through increased earnings and disciplined management of working capital levels and capital expenditures | | | ESG Metric | •Distinct Environmental, Social and Governance (ESG) measures | •Incentivizes management to achieve the organization's overarching environmental, compliance and talent development goals |

  52. Fiscal 2025 Annual Incentive Performance Metrics

    Net New Sales is an internal statistical measure used by the Company to evaluate Aramark’s new sales and retention performance and is defined in Annex A. The annual incentives of all NEOs except Mr. Bruno are based 100% on consolidated-level performance. Mr. Bruno’s annual incentive payout is determined based 74% on the financial performance of the businesses he oversees and 26% based on consolidated-level performance.

  53. Fiscal 2025 Annual Incentive Outcomes

    Fiscal 2025 Annual Incentive Outcomes Based on the performance metrics established by the Compensation Committee and the Company’s 2025 performance, the Compensation Committee determined Aramark achieved 133.0% of target payout for executives assessed exclusively on consolidated

  54. Fiscal 2025 Annual Incentive Outcomes

    | | 35 |

  55. Fiscal 2025 Annual Incentive Outcomes

    performance and 122.2% of target for the COO of the U.S. Food & Facilities businesses based on a combination of consolidated and U.S. Food & Facilities performance. Percentages may not add exactly due to rounding

  56. Fiscal 2025 Annual Incentive Outcomes

    | 36 | |

  57. Fiscal 2025 Annual Incentive Outcomes

    1Net New Sales represents the annualized value of gross new business less the annualized value of lost business. The Net New Sales calculation for purposes of the U.S. Food & Facilities business performance represents annualized value of gross new business less the annualized value of lost business for the businesses Mr. Bruno oversees. Net New Sales is an internal statistical metric used to evaluate Aramark’s net new sales and retention performance. 2Adjusted Operating Income represents the operating income for the businesses adjusted to exclude the amortization expense of acquisition-related intangible assets, severance and other charges, and other items impacting comparability. Adjusted Operating Income for purposes of the U.S. Food & Facilities business performance represents the operating income for the businesses adjusted to exclude the amortization expense of acquisition-related intangible assets, severance and other charges, and other items impacting comparability for the businesses Mr. Bruno oversees. 3Free cash flow for purposes of the annual incentive plan calculations represents net cash provided by operating activities less net purchases of property and equipment and other. 4Consolidated ESG metrics include goals tied to the reduction in emissions, business conduct training compliance, and global talent development. Maximum payout for the ESG scorecard is 175% of target. 5The Free Cash Flow calculation for purposes of the U.S. Food & Facilities business performance represents net cash provided by operating activities less net purchases of property and equipment and other for the businesses Mr. Bruno oversees. 6Payout under Mr. Bruno’s annual incentive award is based upon the financial metrics noted; however 32% is based on US Food & Facilities Net New Sales, 32% is based on US Food & Facilities AOI,10% on US Food & Facilities Free Cash Flow, 8% on Consolidated Net New Sales, 8% on Consolidated AOI and 10% on Consolidated ESG Metrics.

  58. Fiscal 2025 Annual Incentives Earned by NEO

    Fiscal 2025 Annual Incentives Earned by NEO Based on the results of the performance metrics approved by the Compensation Committee, the NEOs earned annual incentive awards for fiscal 2025 as set forth in the table below.

  59. Fiscal 2025 Annual Incentives Earned by NEO

    | NEO | Job Title | Base Salaryx | Target Award %x | Actual Earned %(1) | = | Actual Payout $ | | John Zillmer | CEO | 1,300,000 | 200% | 133.0% | | 3,456,700 | | James Tarangelo | EVP, CFO | 700,000 | 85% | 133.0% | | 791,053 | | Marc Bruno(2) | COO, US Food & Facilities | 750,000 | 125% | 122.2% | | 1,145,199 | | Lauren Harrington | EVP, General Counsel | 700,000 | 85% | 133.0% | | 791,053 | | Abigail Charpentier | EVP, CHRO | 600,000 | 85% | 133.0% | | 678,045 |

  60. Fiscal 2025 Annual Incentives Earned by NEO

    (1) Percentages shown are rounded to the nearest tenth decimal. (2) Payout under Mr. Bruno’s annual incentive award is based on the same financial metrics noted above; however, 74% of Mr. Bruno’s annual incentive payout is determined based on the performance of the businesses he oversees (i.e., U.S. Food & Facilities) and 26% is determined based on corporate-level performance.

  61. Fiscal 2026 Annual Incentive Performance Metrics and Weightings

    Fiscal 2026 Annual Incentive Performance Metrics and Weightings Prior to fiscal 2023, the Compensation Committee incorporated ESG metrics into each NEO’s individual performance scorecard as part of the performance management process. In fiscal 2023, based on stakeholder feedback, the Compensation Committee made the decision to introduce a standalone ESG scorecard metric within the annual incentive plan with a 10% weighting. Over the past three fiscal years, the ESG scorecard has been used to assess progress toward rigorous business objectives focused on advancing our people and planet priorities, with results regularly exceeding target performance levels. In light of the Company's consistent level of achievement, the Compensation Committee has determined that, beginning in fiscal 2026, it will revert back to the prior approach of integrating ESG performance into executive compensation decisions related to base salary and target incentive award levels. For fiscal 2026, the annual incentive plan design will remain similar to fiscal 2025 with the exception of removing the ESG Scorecard and increasing the weight of Free Cash Flow.

  62. Fiscal 2026 Annual Incentive Design

    Fiscal 2026 Annual Incentive Design

  63. Fiscal 2026 Annual Incentive Design

    | | 37 |

  64. Long Term Incentives (LTI)

    Long Term Incentives (LTI)

  65. Long Term Incentive Grant Targets

    Long Term Incentive Grant Targets For fiscal 2026, the Compensation Committee approved an increase to Mr. Bruno's long-term incentive grant values to further align his total earning potential to shareholder value as well as increase his at risk pay relative to his total compensation. Mr. Bruno and Mses. Harrington's and Charpentier's long term incentive equity grant values were increased in fiscal 2024. Mr. Zillmer has not received an increase to his annual long term incentive target since his appointment.

  66. Long Term Incentive Grant Targets

    | NEO | Job Title | Fiscal 2023 Grant (November 17, 2022) | | Fiscal 2024 Grant (November 27, 2023) | | Fiscal 2025 Grant (December 2, 2024) | | Fiscal 2026 Grant (December 1, 2025) | | | | | LTI Target | % Increase | LTI Target | % Increase | LTI Target | % Increase | LTI Target | % Increase | | John Zillmer | CEO | $9,500,000 | —% | $9,500,000 | —% | $9,500,000 | —% | $9,500,000 | —% | | James Tarangelo(1) | EVP, CFO | $— | N/A | $1,750,000 | N/A | $1,750,000 | —% | $1,750,000 | —% | | Marc Bruno | COO, US Food & Facilities | $1,850,000 | —% | $2,000,000 | 8.1% | $2,000,000 | —% | $2,150,000 | 7.5% | | Lauren Harrington | EVP, General Counsel | $1,500,000 | —% | $1,750,000 | 16.7% | $1,750,000 | —% | $1,750,000 | —% | | Abigail Charpentier(2) | EVP, CHRO | $1,500,000 | N/A | $1,750,000 | 16.7% | $1,750,000 | —% | $1,750,000 | —% |

  67. Long Term Incentive Grant Targets

    (1) Mr. Tarangelo's fiscal 2024 grant includes an additional grant awarded during the year to recognize his promotion and new role and responsibilities (awards granted November 27, 2023 and January 16, 2024). (2) Ms. Charpentier's fiscal 2023 grant includes an additional grant awarded during the year to recognize her promotion and new role and responsibilities (awards granted November 17, 2022 and January 6, 2023).

  68. Fiscal 2025 Long Term Incentive Grant Allocations (granted in December 2024)

    Fiscal 2025 Long Term Incentive Grant Allocations (granted in December 2024) In fiscal 2025, following a review of peer market data and consultation with Meridian, the Compensation Committee approved a simplified PSU design that reduced the number of performance metrics and reinstated a three-year vesting period to coincide with the performance period. The fiscal 2025 PSUs utilize two equally weighted performance measures—Earnings Per Share and Return on Invested Capital—and provide for a resulting payout, if any, subject to a +/-20% modifier based on the Company’s total shareholder return relative to the fiscal 2025 performance peer group.

  69. Fiscal 2025 Long Term Incentive Grant Allocations (granted in December 2024)

    | Fiscal 2025 LTI Grant |

  70. Fiscal 2025 Long Term Incentive Grant Allocations (granted in December 2024)

    | 50% | Payout Modifier | | 3-Year Compound Adjusted Earnings Per Share | | | Rationale: Aligns with our investor community and measures our progress on our strategic initiatives. | 3-Year Relative Total Shareholder Return (TSR) | | X | | | 50% | Rationale: Encourages performance that increases shareholder value and rewards executives if the Company outperforms companies in the performance peer group. | | 3-Year Return on Invested Capital | | | Rationale: Focuses management on generating returns through disciplined capital management. | |

  71. Fiscal 2025 Long Term Incentive Grant Allocations (granted in December 2024)

    | 38 | |

  72. Outcomes for PSUs Related to Fiscal 2025 Performance

    Outcomes for PSUs Related to Fiscal 2025 Performance As previously discussed in the " 2025 Actual Performance Pay Outcomes Reflect Our Pay-for-Performance Philosophy" section of the CD&A, following the Separation of the uniform and workplace supplies business, the PSUs granted in fiscal 2023 were modified with new three-year performance targets and a shortened two-year relative TSR performance period based on a new performance peer group reflective of the Company after the Separation. In November 2025, the Compensation Committee certified the fiscal 2023 PSU performance resulting in 89.1% of target attainment. The fiscal 2023 PSUs have an additional year of time-vesting after the end of the performance period and will vest and be paid out on October 2, 2026, subject to continued employment or a qualifying termination.

  73. Fiscal 2026 Long Term Incentive Grants

    Fiscal 2026 Long Term Incentive Grants The long-term incentive plan design for fiscal 2026 remains unchanged with the same mix of PSUs, Stock Options and RSUs as fiscal 2025. The fiscal 2026 PSU design also remains the same as fiscal 2025 with performance targets which are based upon three-year Earnings Per Share and Return on Invested Capital, each weighted 50%, with the resulting payout (if any) modified +/- 20% based on the total return to the Company’s shareholders relative to the performance of the fiscal 2026 performance peer group. The performance targets for the fiscal 2026 PSUs align with the Company's long-term strategic goals.

  74. Other Compensation Components

    Other Compensation Components The Compensation Committee provides additional benefits to the NEOs that are customary for executives of similar rank to enable our executives to focus on our business and enhance their commitment to us. Savings Incentive Retirement Plan: We make available a non-qualified savings plan intended as a substitute for those employees ineligible to participate in our 401(k) plan because of certain legal requirements. Severance Arrangements and Payments upon a Change of Control: We have employment agreements with all NEOs for indefinite periods terminable by either party, and in most cases our executives are entitled to certain payments and benefits in connection with certain terminations of employment. These provisions are intended to align executive and shareholder interests by enabling executives to consider corporate transactions that are in the best interests of the shareholders and our other constituents without concern over whether the transactions may jeopardize the executive’s own employment.

  75. Other Compensation Components

    Equity awards granted since our IPO in 2013 and agreements with our NEOs that provide for other payments in connection with a change of control contain a “double trigger” in order for the executive to receive compensation, meaning that awards will be accelerated only if the executive’s employment is terminated without cause, within a certain period following the change of control. For more information about change of control and severance payments for our NEOs, see the disclosure under “Potential Post-Employment Benefits.” Perquisites: We provide our NEOs with other benefits that the Compensation Committee believes are reasonable and encourage retention. The costs of these benefits constitute a small percentage of each NEO’s total compensation. These benefits are reflected in the All Other Compensation column in the Summary Compensation Table and include: •premiums paid on life insurance; •disability insurance; •receipt of a taxable car allowance and no cost parking at a garage near Company offices; •an executive physical; •financial planning services; •personal use of Company tickets or the Company box and related items at sporting or other events; and •matching charitable contributions. The Chair of the Compensation Committee has approved certain members of the executive leadership team entering into Aircraft Time Sharing Agreements with the Company that permit each of them to reimburse the Company for incremental cost of their personal use of the corporate aircraft. During 2025, Mr. Bruno had family members accompany him on business trips on the Company aircraft at no incremental cost. In light of a significant increase in the level of CEO personal security risk at U.S. companies, after conducting an internal security risk assessment, the Compensation Committee adopted the Aramark Policy on Personal Use of Corporate Aircraft. The policy requires the CEO to use Aramark’s corporate aircraft for both business and personal travel in an effort to reduce exposure to unsecured areas at commercial airports. During fiscal 2025, the value of the personal travel on corporate aircraft by Mr. Zillmer was $55,077, which is reflected in the All Other Compensation column in the Summary Compensation Table.

  76. MARKET BENCHMARKING

    MARKET BENCHMARKING Our compensation program is structured to enable us to maintain our competitive position for key executive talent. To establish market competitive compensation practices for all NEOs, our Compensation Committee refers, in part, to peer group data.

  77. Fiscal 2025 Compensation Peer Group

    Fiscal 2025 Compensation Peer Group The Compensation Committee worked with Meridian, to develop the Compensation Peer Group in early fiscal 2020. The Compensation Committee, based on input from Meridian, reviewed the Compensation Peer Group for fiscal 2024 and concluded that it remained appropriate for fiscal 2025, except the Compensation Committee approved removing Republic Services due to its relatively high market capitalization and enterprise size. Peers are size appropriate companies which focus on providing business services, have a logistics-centered business model, have a repeatable business model, and are consumer facing with large workforces.

  78. Fiscal 2025 Compensation Peer Group

    | 40 | |

  79. Fiscal 2025 Compensation Peer Group

    The following table lists relevant comparative information for the 2025 Compensation Peer Group.

  80. Fiscal 2025 Compensation Peer Group

    | Company Name | Sales ($M) | Mkt Cap ($M) | Ent. Value ($M) | Assets ($M) | # of Employees | | Aramark | 18,506 | 10,217 | 16,142 | 13,305 | 278,390 | | Executive Compensation Peer Group (n = 16) | | | | | | | ABM Industries Incorporated | $8,628 | $2,970 | $4,570 | $5,271 | 117,000 | | Carnival Corporation & plc | $26,230 | $33,822 | $60,770 | $50,831 | 115,000 | | C.H. Robinson Worldwide, Inc. | $16,505 | $12,598 | $14,173 | $5,228 | 12,953 | | Darden Restaurants, Inc. | $12,364 | $24,096 | $31,718 | $12,760 | 197,924 | | Dollar General Corporation | $41,652 | $23,034 | $39,241 | $31,653 | 194,200 | | Dollar Tree, Inc. | $18,551 | $20,264 | $27,016 | $13,385 | 139,572 | | Expeditors Int’l of Washington, Inc. | $11,168 | $15,790 | $15,142 | $4,780 | 18,400 | | Kohl’s Corporation | $15,886 | $1,200 | $8,246 | $13,391 | 87,000 | | Macy’s, Inc. | $22,701 | $3,548 | $8,275 | $15,551 | 94,189 | | ManpowerGroup Inc. | $17,644 | $1,951 | $3,165 | $8,447 | 26,700 | | MGM Resorts International | $17,279 | $9,383 | $39,556 | $41,411 | 69,000 | | Performance Food Group Company | $61,559 | $14,358 | $22,140 | $18,352 | 42,785 | | Royal Caribbean Cruises Ltd. | $17,437 | $78,391 | $98,126 | $40,109 | 105,975 | | US Foods Holding Corp. | $39,115 | $17,332 | $22,343 | $14,044 | 30,000 | | XPO Logistics, Inc. | $8,068 | $14,304 | $18,228 | $8,189 | 38,000 | | Yum! Brands, Inc. | $8,061 | $40,734 | $52,304 | $7,193 | 40,000 | | Source: S&P CapitalIQ | | | | | | | All financial data as of October 3, 2025. Revenue represents trailing 12 months; Market Cap and Enterprise Value reflect a 6-month average, and Assets reflect most recent reported quarter. | | | | | | | Aramark’s Revenue and Assets reflect actual results as of year-end October 3, 2025. | | | | | | | Aramark Relative to Peer Group | | | | | | | Aramark Percentile Rank | 66% | 28% | 35% | 46% | Highest |

  81. Fiscal 2025 Compensation Peer Group

    For fiscal 2026, the Compensation Committee evaluated the 2025 Compensation Peer Group and did not make any changes.

  82. Performance Peer Group for Total Shareholder Return

    Performance Peer Group for Total Shareholder Return In consultation with Meridian, the Compensation Committee approved amending the 2023 Performance Peer Group for the performance period following the Separation, to more closely reflect Aramark's business profile following the Separation. The same Performance Peer Group applies to the PSUs granted in fiscal 2024, 2025 and 2026.

  83. Performance Peer Group for Total Shareholder Return

    | | 41 |

  84. Performance Peer Group for Total Shareholder Return

    | 2023 - 2026 Performance Peer Group (Relative TSR Peer Group for Fiscal 2023-2025, Fiscal 2024-2026, Fiscal 2025-2027 PSUs, Fiscal 2026-2028 PSUs) | | | | | 1. ABM Industries Incorporated | 14. Cushman & Wakefield plc | 27. Jones Lang LaSalle Incorporated | 40. Robert Half International Inc. | | 2. AECOM | 15. Darden Restaurants, Inc. | 28. Live Nation Entertainment, Inc. | 41. Royal Caribbean Cruises Ltd. | | 3. APi Group Corporation | 16. Elior Group SA | 29. ManpowerGroup Inc. | 42. Sabre Corporation | | 4. ASGN Incorporated | 17. Elis SA | 30. Marcus & Millichap, Inc. | 43. Sodexo S.A. | | 5. Bloomin' Brands, Inc. | 18. EMCOR Group, Inc. | 31. Marriott International, Inc. | 44. SSP Group plc | | 6. Booking Holdings Inc. | 19. Expedia Group, Inc. | 32. Marriott Vacations Worldwide Corporation | 45. Starbucks Corporation | | 7. Brinker International, Inc. | 20. Forward Air Corporation | 33. Newmark Group, Inc. | 46. Sysco Corporation | | 8. Carnival Corporation & plc | 21. GXO Logistics, Inc. | 34. Norwegian Cruise Line Holdings Ltd. | 47. The Cheesecake Factory Incorporated | | 9. CBRE Group, Inc. | 22. Healthcare Services Group, Inc. | 35. Paychex, Inc. | 48. The Walt Disney Company | | 10. Choice Hotels International, Inc. | 23. Hilton Grand Vacations Inc. | 36. Performance Food Group Company | 49. Travel + Leisure Co. | | 11. Clean Harbors, Inc. | 24. Hilton Worldwide Holdings Inc. | 37. Premier, Inc. | 50. US Foods Holding Corp. | | 12. Compass Group PLC | 25. Hyatt Hotels Corporation | 38. Rentokil Initial plc | 51. Wyndham Hotels & Resorts, Inc. | | 13. Cracker Barrel Old Country Store, Inc. | 26. ISS A/S | 39. Restaurant Brands International Inc. | 52. Yum! Brands, Inc. |

  85. Independence of the Compensation Consultant

    Independence of the Compensation Consultant The Compensation Committee’s independent compensation consultant is selected and retained by the Compensation Committee to advise on executive and director compensation and it is not intended that the consultant will do any other work for the Company. The independent compensation consultant is Meridian. The Compensation Committee considered Meridian’s independence and determined that the engagement of Meridian did not raise any conflict of interest or other issues that would adversely impact their independence, including using the six factors set forth in the SEC and New York Stock Exchange rules regarding compensation advisor conflict of interest and independence. Accordingly, the Compensation Committee determined Meridian to be independent and free from conflicts of interest. During fiscal 2025, Meridian did not provide other services to the Company outside of its services and advice to the Compensation Committee.

  86. Role of Independent Compensation Consultant

    Role of Independent Compensation Consultant The Compensation Committee’s independent compensation consultant provides the Compensation Committee with general services related to executive and director compensation, and associated governance each year. These services include market intelligence, compensation trends, suggestions about compensation program design, general views on specific requests to the Compensation Committee from management regarding compensation program design or decisions, the review of the peer group, benchmarking executive pay relative to the peer group and the broader market for executive talent, and an analysis of the risk profile of the compensation system. In particular years, the services also have included thorough analyses of various compensation issues. For fiscal 2025, Meridian: •Evaluated competitiveness of executive compensation and benefit programs, including base salary, annual incentives, long-term incentives, total compensation, perquisites, and severance provisions; •Reviewed and helped to confirm the appropriateness of the Company’s peer group used for compensation benchmarking and the peer group used for assessing relative TSR for the PSUs; •Provided the Compensation Committee with updates on executive compensation and benefits trends and information on the latest regulatory, legislative, proxy advisor, and other relevant developments; •Reviewed and supported the Compensation Committee in preparing public filings related to compensation decisions; •Supported the Compensation Committee in assessing risk in the Company’s incentive plans, including participation in meetings where the Compensation Committee evaluated presentations on compensation risk assessment; and •Addressed various other matters, as requested by the Compensation Committee. A Meridian representative attended all of the Compensation Committee’s meetings during fiscal 2025.

  87. Long Term Incentive Grant Procedures

    Long Term Incentive Grant Procedures Timing of Awards: The Compensation Committee generally makes annual awards of equity incentives, including options, at its regularly scheduled meeting held early in each fiscal year, typically in November. The Compensation Committee may make limited grants of long term incentives on other dates in connection with a promotion or to compensate newly hired executives for equity or other benefits forfeited upon termination of previous employment or to otherwise induce them to join our Company. During fiscal 2025, (1) none of the Company’s NEOs were awarded stock options with an effective grant date during any period beginning four business days before the filing or furnishing of a Form 10-Q, Form 10-K, or Form 8-K that disclosed material non-public information, and ending one business day after the filing or furnishing of such reports, and (2) the Company did not time the disclosure of material non-public information for the purpose of affecting the value of executive compensation. Grant Date and Exercise Price: The grant date of awards of equity incentives to executives may be the date of Compensation Committee approval or, if specified in the approval, a later date, including a date of subcommittee approval if designated by the Compensation Committee. The exercise price of option grants may not be lower than the closing market price of our common stock on the date of grant.

  88. Compensation Risk Disclosure

    Compensation Risk Disclosure As part of its responsibility to set appropriate executive compensation, the Compensation Committee annually considers balance in the compensation program and its impact on Aramark’s risk management profile. Specifically, in fiscal 2025, the Compensation Committee considered whether the mix of performance-based pay, the performance metrics and the degree of difficulty of the performance goals was sufficient to encourage management to strive for strong performance without encouraging risk taking beyond established risk parameters. The Compensation Committee also considered the input of its independent compensation consultant, Meridian, regarding the risk profile of the compensation program as well as various factors that would mitigate risks associated with Aramark’s compensation program. These factors include: an effective balance between the cash and equity mix and short and long-term focus; annual awards of long term incentives with overlapping vesting periods, the use of multiple performance metrics; substantial stock ownership guidelines; clawback policies; an anti-hedging policy; and independent committee oversight of the compensation programs. After discussing all such matters, the Compensation Committee determined that in relation to fiscal 2025, Aramark’s compensation program is appropriately structured and does not motivate individuals or groups to take risks that are reasonably likely to have a material adverse effect on the Company.

  89. Impact of Regulatory Requirements on Executive Compensation

    Impact of Regulatory Requirements on Executive Compensation Sections 280G and 4999. Sections 280G and 4999 of the Internal Revenue Code (the “Code”) limit our ability to take a tax deduction for certain “excess parachute payments” (as defined in the Code) and impose excise taxes on each executive that receives “excess parachute payments” in connection with his or her severance and other payments from us that are contingent on or in connection with a change of control. The Compensation Committee considered the adverse tax liabilities imposed by Sections 280G and 4999 of the Code, as well as other competitive factors, when it structured certain post-termination compensation payable to our named executive officers. The potential adverse tax consequences to us and/or the executive, however, are not necessarily determinative factors in such decisions. No gross-up payment provisions were included in the employment agreements entered into with our NEOs. Section 162(m). Section 162(m) of the Code (“Section 162(m)”) generally disallows a tax deduction to a public corporation for compensation over $1,000,000 paid in any fiscal year to a company’s chief executive officer or other named executive officers (excluding the company’s principal financial officer, in the case of tax years commencing before 2018). However, in the case of tax years commencing before 2018, the statute exempted qualifying performance-based compensation from the deduction limit if certain requirements were met. Section 162(m) was amended in December 2017 by the Tax Cuts and Jobs Act to eliminate the exemption for performance-based compensation (other than with respect to payments made pursuant to certain “grandfathered” arrangements entered into prior to November 2, 2017) and to expand the group of current and former executive officers who may be covered by the deduction limit under Section 162(m). While Aramark’s shareholder approved incentive plans were previously structured to provide that certain awards could be made in a manner intended to qualify for the performance-based compensation exemption, that exemption will no longer be available for the current and future tax years (other than with respect to certain “grandfathered” arrangements as noted above).

  90. 2025 Summary Compensation Table

    2025 Summary Compensation Table The following tables, narrative and footnotes discuss the compensation of our Chief Executive Officer, our Chief Financial Officer, and the three other most highly compensated executive officers serving at the end of fiscal 2025, who are referred to as named executive officers or NEOs.

  91. 2025 Summary Compensation Table

    | Name and Principal position | Year | Salary(1) ($) | Bonus ($) | Stock Awards(2) ($) | Option Awards(3) ($) | Non- Equity Incentive Plan Compen-sation(4) ($) | Change in Pension value And Non- Qualified Deferred Compensation Earnings(5) ($) | All Other Compen- sation(6) ($) | Total ($) | | John J. Zillmer Chief Executive Officer | 2025 | 1,325,000 | — | 6,809,099 | 2,850,016 | 3,456,700 | — | 101,561 | 14,542,376 | | | 2024 | 1,300,000 | — | 12,698,367 | 2,851,006 | 1,866,842 | — | 28,003 | 18,744,218 | | | 2023 | 1,300,000 | — | 7,652,182 | 2,849,251 | 890,117 | — | 39,282 | 12,730,832 | | James Tarangelo EVP, CFO | 2025 | 694,422 | — | 1,254,340 | 525,017 | 791,053 | 5,479 | 40,464 | 3,310,775 | | | 2024 | 564,040 | — | 1,334,340 | 525,102 | 361,929 | 5,946 | 29,781 | 2,821,138 | | Marc Bruno COO, US Food & Facilities | 2025 | 758,077 | — | 1,433,514 | 600,012 | 1,145,199 | 10,491 | 53,332 | 4,000,625 | | | 2024 | 714,231 | — | 1,615,007 | 600,219 | 594,560 | 11,604 | 47,267 | 3,582,888 | | | 2023 | 676,921 | — | 1,490,193 | 554,863 | 175,983 | 13,817 | 51,044 | 2,962,821 | | Lauren Harrington EVP, General Counsel | 2025 | 707,115 | — | 1,254,340 | 525,017 | 791,053 | 4,075 | 38,153 | 3,319,753 | | | 2024 | 662,884 | — | 1,408,606 | 525,186 | 470,814 | 4,324 | 31,553 | 3,103,367 | | | 2023 | 621,923 | — | 1,208,314 | 449,888 | 209,520 | 4,900 | 28,380 | 2,522,925 | | Abigail Charpentier EVP, Chief Human Resource Officer | 2025 | 602,655 | — | 1,254,340 | 525,017 | 678,045 | 2,081 | 43,140 | 3,105,278 | | | 2024 | 554,231 | — | 1,398,906 | 525,186 | 394,088 | 1,649 | 28,112 | 2,902,172 | | | 2023 | 498,079 | — | 1,202,177 | 449,921 | 140,953 | 2,027 | 21,876 | 2,315,033 |

  92. 2025 Summary Compensation Table

    (1)Fiscal 2025 salaries are inclusive of salaries earned including an extra 53rd week in the fiscal year. Mr. Tarangelo deferred a portion of his salary under the 2007 Savings Incentive Retirement Plan in fiscal 2024 and fiscal 2025. Mr. Bruno, and Mses. Harrington and Charpentier deferred portions of their salaries under the 2007 Savings Incentive Retirement Plan in fiscal 2023, 2024, and 2025. These amounts are reflected in this column, and, for fiscal 2025, are reflected in the Non-Qualified Deferred Compensation Table. (2)Includes the aggregate grant date fair value of restricted stock units and performance stock units granted in the respective fiscal year computed in accordance with FASB ASC Topic 718. For additional information on the valuation assumptions, refer to Note 12 to our audited consolidated financial statements in our Annual Report on Form 10-K for the fiscal year ending October 3, 2025. For previously granted PSUs, the grant date fair value reported is based upon the probable outcome of performance at the grant date. The grant date fair value of performance awards with market-based conditions like relative total shareholder return is determined based on a Monte Carlo simulation. For fiscal 2024, this column also includes the incremental fair value associated with the modification of the fiscal 2023 PSUs in connection with the Separation as discussed above.

  93. 2025 Summary Compensation Table

    | | Fiscal 2023 Grants | | Fiscal 2024 Grants | | Fiscal 2025 Grants | | | | Probable Outcome ($) | Highest Level of Performance ($) | Probable Outcome ($) | Highest Level of Performance ($) | Probable Outcome ($) | Highest Level of Performance ($) | | John J. Zillmer | 5,752,146 | 11,504,292 | 5,435,846 | 10,871,692 | 4,909,059 | 11,781,742 | | James Tarangelo | — | — | 895,131 | 1,790,263 | 904,322 | 2,170,374 | | Marc Bruno | 1,120,170 | 2,240,339 | 1,144,397 | 2,288,794 | 1,033,499 | 2,480,398 | | Lauren Harrington | 908,275 | 1,816,549 | 1,001,360 | 2,002,719 | 904,322 | 2,170,374 | | Abigail Charpentier | 822,132 | 1,644,263 | 1,001,360 | 2,002,719 | 904,322 | 2,170,374 |

  94. 2025 Summary Compensation Table

    (3)Includes the aggregate grant date fair value of stock options computed in accordance with FASB ASC Topic 718. For additional information on the valuation assumptions, refer to Note 12 to our audited consolidated financial statements in our Annual Report on Form 10-K for the fiscal year ending October 3, 2025. (4)Represents fiscal year 2023, 2024, and 2025 payments made under the Management Incentive Bonus Plan. (5)Includes amounts earned on deferred compensation in excess of 120% of the applicable federal rate, based upon the above-market return at the time the rate basis was set. (6)The following are included in this column for fiscal 2025: a)The aggregate incremental cost to us of the following perquisites: car allowance ($14,300 for each NEO), premium payments for term life insurance ($1,140 for each NEO), and premium payments for disability insurance of $4,375 for Mr. Zillmer, $3,894 for Mr. Tarangelo, $3,918 for Mr. Bruno, $3,279 for Ms. Harrington, and $4,450 for Ms. Charpentier. Pursuant to Aircraft Time Sharing Agreements entered into with certain members of the executive leadership team, such executives reimburse the Company for the aggregate incremental cost to the Company attributable to each of their personal use of the Company aircraft. The calculation of incremental cost for personal use of Company aircraft includes the variable costs incurred as a result of their personal flight activity, including charges for aircraft fuel, landing fees, and any travel expenses for the flight crew. The variable costs for the Company’s fractional ownership share include the

  95. 2025 Summary Compensation Table

    | 46 | |

  96. 2025 Summary Compensation Table

    regular hourly charge, the fuel variable charge, international flat fees and other fees. The members of the executive leadership team are not reimbursed by the Company for any personal income taxes associated with their personal use of the Company aircraft or the Company fractional ownership share. Personal guests of Mr. Bruno accompanied him on certain business flights which resulted in zero incremental cost to the Company. b)Pursuant to the Aramark Policy on Personal Use of Corporate Aircraft, this amount includes $55,077 in incremental cost of the personal use of the Company aircraft for Mr. Zillmer. c)Reimbursements for executive physicals in the amounts of $4,000 for Mr. Tarangelo and Ms. Charpentier, $6,274 for Mr. Bruno, and $3,500 for Ms. Harrington. d)Amounts that constitute the Company match to the Savings Incentive Retirement Plan for fiscal 2025 of $11,750 for Messrs. Bruno and Tarangelo and Mses. Harrington and Charpentier. e)Matching contributions to a college or other non-profit for fiscal 2025 in the amounts of $2,500 for Mr. Tarangelo, $8,450 for Mr. Bruno and $3,759 for Ms. Harrington. f)Financial planning reimbursements of $780 for Mr. Tarangelo, $7,500 for Mr. Bruno and Ms. Charpentier, and $425 for Ms. Harrington. g)Cost of the personal use of Company-owned tickets or the Company-owned suite at sports stadiums and arenas for fiscal 2025 in the amounts of $26,670 for Mr. Zillmer and $2,100 for Mr. Tarangelo.

  97. Grants of Plan-Based Awards for Fiscal Year 2025

    Grants of Plan-Based Awards for Fiscal Year 2025 The following table provides information about equity and non-equity awards granted to our named executive officers in fiscal 2025.

  98. Grants of Plan-Based Awards for Fiscal Year 2025

    | Name | Type(1) | Grant Date | Committee Meeting Date | Estimated Future Payouts under Non-Equity Incentive Plan Awards (2) | | | Estimated Future Payouts under Equity Incentive Plan Awards | | | All Other Stock Awards: Number of Shares of Stock or Units | All Other Option Awards: Number of Securities Underlying Options | Exercise or Base Price of Option Awards ($/sh) | Grant Date Fair Value of Stock and Option Awards(3) | | | | | | Threshold | Target | Maximum | Threshold (#) | Target (#) | Maximum | | | | | | Zillmer | ACI | | | 650,000 | 2,600,000 | 5,135,000 | | | | | | | | | | NQSOs(4) | 12/2/2024 | 11/4/2024 | | | | | | | | 161,474 | $40.32 | $2,850,016 | | | PSUs(5) | 12/2/2024 | 11/4/2024 | | | | 47,123 | 117,808 | 282,739 | | | | $4,909,059 | | | RSUs(6) | 12/2/2024 | 11/4/2024 | | | | | | | 47,124 | | | $1,900,040 | | Tarangelo | ACI | | | 148,750 | 595,000 | 1,175,125 | | | | | | | | | | NQSOs(4) | 12/2/2024 | 11/4/2024 | | | | | | | | 29,746 | $40.32 | $525,017 | | | PSUs(5) | 12/2/2024 | 11/4/2024 | | | | 8,681 | 21,702 | 52,085 | | | | $904,322 | | | RSUs(6) | 12/2/2024 | 11/4/2024 | | | | | | | 8,681 | | | $350,018 | | Bruno | ACI | | | 234,375 | 937,500 | 1,851,563 | | | | | | | | | | NQSOs(4) | 12/2/2024 | 11/4/2024 | | | | | | | | 33,995 | $40.32 | $600,012 | | | PSUs(5) | 12/2/2024 | 11/4/2024 | | | | 9,921 | 24,802 | 59,525 | | | | $1,033,499 | | | RSUs(6) | 12/2/2024 | 11/4/2024 | | | | | | | 9,921 | | | $400,015 | | Harrington | ACI | | | 148,750 | 595,000 | 1,175,125 | | | | | | | | | | NQSOs(4) | 12/2/2024 | 11/4/2024 | | | | | | | | 29,746 | $40.32 | $525,017 | | | PSUs(5) | 12/2/2024 | 11/4/2024 | | | | 8,681 | 21,702 | 52,085 | | | | $904,322 | | | RSUs(6) | 12/2/2024 | 11/4/2024 | | | | | | | 8,681 | | | $350,018 | | Charpentier | ACI | | | 127,500 | 510,000 | 1,007,250 | | | | | | | | | | NQSOs(4) | 12/2/2024 | 11/4/2024 | | | | | | | | 29,746 | $40.32 | $525,017 | | | PSUs(5) | 12/2/2024 | 11/4/2024 | | | | 8,681 | 21,702 | 52,085 | | | | $904,322 | | | RSUs(6) | 12/2/2024 | 11/4/2024 | | | | | | | 8,681 | | | $350,018 |

  99. Grants of Plan-Based Awards for Fiscal Year 2025

    (1)ACI = Annual Cash Incentive; NQSO = Non-Qualified Stock Option, PSU = Performance Stock Unit, RSU = Restricted Stock Unit (2)The amounts represent the threshold, target, and maximum payouts under the Management Incentive Bonus Plan for the 2025 performance period. (3)This column shows the full grant date fair value of non-qualified stock options, performance stock units and restricted stock units granted to our named executive officers in fiscal 2025 under FASB ASC Topic 718. The grant date fair value for performance stock units granted in fiscal 2025 assumes achievement of the target amount. For additional information on the valuation assumptions, refer to Note 12 to our audited consolidated financial statements in our Annual Report on Form 10-K for the fiscal year ended October 3, 2025. These amounts do not correspond to the actual value that will be received by the named executive officers. (4)These stock options were granted under the 2023 Stock Plan, vest 25% annually over four years and have a ten-year term, subject to grantee’s continued employment. (5)These performance stock units were granted under the 2023 Stock Plan and vest at the end of fiscal 2027, provided that the performance targets, based on Cumulative Earnings per Share and actual fiscal 2027 Return on Invested Capital, as modified by Relative TSR performance, are met for the three-year period ending October 1, 2027. (6)These restricted stock units were granted under the 2023 Stock Plan and vest annually 25% per year over four years, subject to the grantee’s continued employment.

  100. Grants of Plan-Based Awards for Fiscal Year 2025

    | | 47 |

  101. Outstanding Equity Awards at 2025 Fiscal Year-End

    Outstanding Equity Awards at 2025 Fiscal Year-End The following table provides information with respect to outstanding equity awards held by our NEOs at 2025 fiscal year-end.

  102. Outstanding Equity Awards at 2025 Fiscal Year-End

    | Name | Type | Option Awards | | | | | Stock Awards | | | | | | | Number of Securities Underlying Unexercised Options Exercisable(1) (#) | Number of Securities Underlying Unexercised Options Unexercisable(2) (#) | Equity Incentive Plan Awards: Number of Securities Underlying Unexercised Unearned Options (#) | Option Exercise Price | Option Expiration Date | Number of Shares or Units of Stock That Have Not Vested (#) | Market Value of Shares or Unites of Stock That Have Not Vested ($) | Equity Incentive Plan Awards: Number of Unearned Shares, Units or Other Rights That Have Not Vested (#) | Equity Incentive Plan Awards: Market or Payout Value of Unearned Shares, Units or other Rights That Have Not Vested ($) | | Zillmer | NQSOs | 416,506 | — | | $30.60 | 11/21/2029 | | | | | | | NQSOs | 736,882 | — | | $20.41 | 9/4/2030 | | | | | | | NQSOs | 183,695 | — | | $25.24 | 9/4/2030 | | | | | | | NQSOs | 238,708 | — | | $32.45 | 9/4/2030 | | | | | | | NQSOs | 302,815 | — | | $39.66 | 9/4/2030 | | | | | | | NQSOs | 376,873 | — | | $46.87 | 9/4/2030 | | | | | | | NQSOs | 460,761 | — | | $54.08 | 9/4/2030 | | | | | | | NQSOs | 474,044 | — | | $61.29 | 9/4/2030 | | | | | | | NQSOs | 82,940(5) | — | | $61.29 | 1/7/2031 | | | | | | | NQSOs | 297,639 | — | | $26.60 | 11/18/2031 | | | | | | | NQSOs | 116,222 | 116,225 | | $29.06 | 11/17/2032 | | | | | | | NQSOs | 59,445 | 178,337 | | $28.05 | 11/27/2033 | | | | | | | NQSOs | — | 161,474 | | $40.32 | 12/2/2034 | | | | | | | PSUs(3) | | | | | | | | 461,504 | $17,998,667 | | | RSUs(4) | | | | | | 33,839 | $1,319,704 | | | | Tarangelo | NQSOs | 8,852 | — | | $24.58 | 11/18/2026 | | | | | | | NQSOs | 6,419 | — | | $29.38 | 11/16/2027 | | | | | | | NQSOs | 6,719 | — | | $26.50 | 11/15/2028 | | | | | | | NQSOs | 5,919 | — | | $30.60 | 11/21/2029 | | | | | | | NQSOs | 25,140 | — | | $16.28 | 6/30/2030 | | | | | | | NQSOs | 31,027 | — | | $20.41 | 9/4/2030 | | | | | | | NQSOs | 12,533 | — | | $26.60 | 11/18/2031 | | | | | | | NQSOs | 4,892 | 4,895 | | $29.06 | 11/17/2032 | | | | | | | NQSOs | 2,503 | 7,509 | | $28.05 | 11/27/2033 | | | | | | | NQSOs | 8,273 | 24,820 | | $28.96 | 1/16/2034 | | | | | | | NQSOs | — | 29,746 | | $40.32 | 12/2/2034 | | | | | | | PSUs(3) | | | | | | | | 54,352 | $2,119,723 | | | RSUs(4) | | | | | | 2,850 | $111,166 | | | | Bruno | NQSOs | 78,689 | — | | $24.58 | 11/18/2026 | | | | | | | NQSOs | 57,060 | — | | $29.38 | 11/16/2027 | | | | | | | NQSOs | 74,653 | — | | $26.50 | 11/15/2028 | | | | | | | NQSOs | 65,764 | — | | $30.60 | 11/21/2029 | | | | | | | NQSOs | 10,996 | — | | $30.46 | 12/4/2029 | | | | | | | NQSOs | 135,741 | — | | $20.41 | 9/4/2030 | | | | | | | NQSOs | 61,232 | — | | $25.24 | 9/4/2030 | | | | | | | NQSOs | 79,570 | — | | $32.45 | 9/4/2030 | | | | | | | NQSOs | 100,939 | — | | $39.66 | 9/4/2030 | | | | | | | NQSOs | 125,624 | — | | $46.87 | 9/4/2030 | | | | | | | NQSOs | 153,587 | — | | $54.08 | 9/4/2030 | | | | | | | NQSOs | 185,661 | — | | $61.29 | 9/4/2030 | | | | | | | NQSOs | 57,962 | — | | $26.60 | 11/18/2031 | | | | | | | NQSOs | 22,632 | 22,634 | | $29.06 | 11/17/2032 | | | | | | | NQSOs | 12,515 | 37,545 | | $28.05 | 11/27/2033 | | | | | | | NQSOs | — | 33,995 | | $40.32 | 12/2/2034 | | | | | | | PSUs(3) | | | | | | | | 94,489 | $3,685,056 | | | RSUs(4) | | | | | | 6,589 | $256,980 | | |

  103. Outstanding Equity Awards at 2025 Fiscal Year-End

    | 48 | |

  104. Outstanding Equity Awards at 2025 Fiscal Year-End

    | Name | Type | Option Awards | | | | | Stock Awards | | | | | | | Number of Securities Underlying Unexercised Options Exercisable(1) (#) | Number of Securities Underlying Unexercised Options Unexercisable(2) (#) | Equity Incentive Plan Awards: Number of Securities Underlying Unexercised Unearned Options (#) | Option Exercise Price | Option Expiration Date | Number of Shares or Units of Stock That Have Not Vested (#) | Market Value of Shares or Unites of Stock That Have Not Vested ($) | Equity Incentive Plan Awards: Number of Unearned Shares, Units or Other Rights That Have Not Vested (#) | Equity Incentive Plan Awards: Market or Payout Value of Unearned Shares, Units or other Rights That Have Not Vested ($) | | Harrington | NQSOs | 8,852 | — | | $24.58 | 11/18/2026 | | | | | | | NQSOs | 9,511 | — | | $29.38 | 11/16/2027 | | | | | | | NQSOs | 6,719 | — | | $26.50 | 11/15/2028 | | | | | | | NQSOs | 32,607 | — | | $22.06 | 3/4/2029 | | | | | | | NQSOs | 28,458 | — | | $27.16 | 8/8/2029 | | | | | | | NQSOs | 65,764 | — | | $30.60 | 11/21/2029 | | | | | | | NQSOs | 116,350 | — | | $20.41 | 9/4/2030 | | | | | | | NQSOs | 45,924 | — | | $25.24 | 9/4/2030 | | | | | | | NQSOs | 59,677 | — | | $32.45 | 9/4/2030 | | | | | | | NQSOs | 75,704 | — | | $39.66 | 9/4/2030 | | | | | | | NQSOs | 94,218 | — | | $46.87 | 9/4/2030 | | | | | | | NQSOs | 115,190 | — | | $54.08 | 9/4/2030 | | | | | | | NQSOs | 139,246 | — | | $61.29 | 9/4/2030 | | | | | | | NQSOs | 46,996 | — | | $26.60 | 11/18/2031 | | | | | | | NQSOs | 18,350 | 18,352 | | $29.06 | 11/17/2032 | | | | | | | NQSOs | 10,950 | 32,852 | | $28.05 | 11/27/2033 | | | | | | | NQSOs | — | 29,746 | | $40.32 | 12/2/2034 | | | | | | | PSUs(3) | | | | | | | | 80,565 | $3,142,029 | | | RSUs(4) | | | | | | 5,344 | $208,402 | | | | Charpentier | NQSOs | 22,424 | — | | $25.41 | 9/1/2031 | | | | | | | NQSOs | 12,533 | — | | $26.60 | 11/18/2031 | | | | | | | NQSOs | 4,892 | 4,895 | | $29.06 | 11/17/2032 | | | | | | | NQSOs | 12,320 | 12,322 | | $31.69 | 1/6/2033 | | | | | | | NQSOs | 10,950 | 32,852 | | $28.05 | 11/27/2033 | | | | | | | NQSOs | — | 29,746 | | $40.32 | 12/2/2034 | | | | | | | PSUs(3) | | | | | | | | 76,038 | $2,965,469 | | | RSUs(4) | | | | | | 2,850 | $111,166 | | |

  105. Outstanding Equity Awards at 2025 Fiscal Year-End

    (1)The amounts in this column are time vesting options that have vested. (2)These are options subject to time vesting and vest 25% at the end of each of the first four years from the date of grant, provided that the NEO is still employed, with certain exceptions (disability, retirement or death). See “Potential Post-Employment Benefits”. All options were granted on the date that is ten years prior to the listed expiration date. (3)Performance Stock Units granted in fiscal 2025 to all NEOs are subject to three-year cumulative Earnings Per Share (EPS) and Return on Invested Capital (ROIC) each weighted 50%, modified +/- 20% by Relative TSR (rTSR) performance and will vest between 40% and 240% of target amount based on actual performance during the performance period, assuming the threshold performance requirement is met. Performance Stock Units granted in fiscal 2023 and fiscal 2024 to all NEOs are subject to three-year cumulative Adjusted Revenue Growth (ARG) and EPS, and final fiscal year of the performance period ROIC each weighted 20%, and rTSR (a 2-year period with respect to the PSUs granted in fiscal 2023 and a 3-year period with respect to the PSUs granted in fiscal 2024) weighted 40%. The awards vest between 50% and 200% of target amount based on actual performance during the performance periods, assuming the threshold performance requirement is met. As previously described in the "Long-Term Incentives (2023 - 2025 Performance Period)" section of the CD&A, the PSUs granted in fiscal 2023 were certified on November 10, 2025 resulting in an 89.1% of target payout. The PSUs granted in fiscal 2024 and fiscal 2025 will vest at the end of fiscal 2027 and the PSUs granted in fiscal 2023 will vest at the end of fiscal 2026, provided that the named executive officer is still employed on such dates with certain exceptions (disability, retirement or death). See “Potential Post-Employment Benefits”. Performance stock units accrue dividend equivalent units that are delivered only upon vesting of the underlying shares and such dividend equivalent units are included in the table. In all cases, outstanding awards are reflected at target payout levels. Additional details are set forth below:

  106. Outstanding Equity Awards at 2025 Fiscal Year-End

    | | 49 |

  107. Outstanding Equity Awards at 2025 Fiscal Year-End

    | Name | Award Date | Number of Unearned Shares or Units at Target (#) | Number of Unearned Shares or Units at Maximum (#) | Performance Condition | Performance Period End Date | Vest Date | | Zillmer | 11/17/2022 | 169,183 | 338,366 | ARG, EPS, ROIC, rTSR | 10/3/2025 | 10/2/2026 | | | 11/27/2023 | 173,252 | 346,504 | ARG, EPS, ROIC, rTSR | 10/2/2026 | 10/1/2027 | | | 12/2/2024 | 119,069 | 285,766 | EPS, ROIC, rTSR | 10/1/2027 | 10/1/2027 | | Tarangelo | 11/17/2022 | 4,276 | 8,551 | ARG, EPS, ROIC, rTSR | 10/3/2025 | 10/2/2026 | | | 11/27/2023 | 4,378 | 8,756 | ARG, EPS, ROIC, rTSR | 10/2/2026 | 10/1/2027 | | | 1/16/2024 | 23,764 | 47,528 | ARG, EPS, ROIC, rTSR | 10/2/2026 | 10/1/2027 | | | 12/2/2024 | 21,934 | 52,642 | EPS, ROIC, rTSR | 10/1/2027 | 10/1/2027 | | Bruno | 11/17/2022 | 32,947 | 65,893 | ARG, EPS, ROIC, rTSR | 10/3/2025 | 10/2/2026 | | | 11/27/2023 | 36,474 | 72,949 | ARG, EPS, ROIC, rTSR | 10/2/2026 | 10/1/2027 | | | 12/2/2024 | 25,068 | 60,162 | EPS, ROIC, rTSR | 10/1/2027 | 10/1/2027 | | Harrington | 11/17/2022 | 26,715 | 53,430 | ARG, EPS, ROIC, rTSR | 10/3/2025 | 10/2/2026 | | | 11/27/2023 | 31,915 | 63,831 | ARG, EPS, ROIC, rTSR | 10/2/2026 | 10/1/2027 | | | 12/2/2024 | 21,934 | 52,642 | EPS, ROIC, rTSR | 10/1/2027 | 10/1/2027 | | Charpentier | 11/17/2022 | 4,276 | 8,551 | ARG, EPS, ROIC, rTSR | 10/3/2025 | 10/2/2026 | | | 1/6/2023 | 17,912 | 35,825 | ARG, EPS, ROIC, rTSR | 10/3/2025 | 10/2/2026 | | | 11/27/2023 | 31,915 | 63,831 | ARG, EPS, ROIC, rTSR | 10/2/2026 | 10/1/2027 | | | 12/2/2024 | 21,934 | 52,642 | EPS, ROIC, rTSR | 10/1/2027 | 10/1/2027 |

  108. Outstanding Equity Awards at 2025 Fiscal Year-End

    (4)On August 15, 2024, in order to ensure the retention of our CEO to allow for an in-depth assessment of both internal and external candidates, in connection with the Company’s CEO and broader executive organizational planning, the Board approved a special, one-time RSU grant to Mr. Zillmer with a grant date fair value of $5,000,000 (the "CEO Succession Process RSU Grant"). The CEO Succession Process RSU Grant will vest on the earlier to occur of: (i) the third anniversary of the date of grant and (ii) six months following the date (the “Succession Date”) the Board appointed successor CEO begins active permanent employment with the Company (or such earlier date following the Succession Date as may be determined by the Board), subject to Mr. Zillmer’s continued employment with the Company through the vesting date. The CEO Succession Process RSU Grant also provides for accelerated vesting in the event of certain qualifying termination of employment events (not including Mr. Zillmer's voluntary retirement). Apart from the CEO Succession Process RSU Grant, the remaining RSUs for all NEOs are subject to time vesting and vest 25% at the end of each of the first four years from the date of grant, provided that the NEO is still employed by us on such dates, with certain exceptions (disability, retirement, retirement with notice or death). See “Potential Post-Employment Benefits”. The number of restricted stock units listed includes dividend equivalents accrued with respect to such award:

  109. Outstanding Equity Awards at 2025 Fiscal Year-End

    | Name | Award Date | Number of Shares or Units of Stock That Have Not Vested (#) | Name | Award Date | Number of Shares or Units of Stock That Have Not Vested (#) | | Zillmer | 11/17/2022 | 33,839 | Bruno | 11/17/2022 | 6,589 | | | 11/27/2023 | 51,977 | | 11/27/2023 | 10,944 | | | 8/15/2024 | 142,485 | | 12/2/2024 | 10,027 | | | 12/2/2024 | 47,629 | Harrington | 11/17/2022 | 5,344 | | Tarangelo | 11/17/2022 | 2,850 | | 11/27/2023 | 9,575 | | | 11/27/2023 | 4,378 | | 12/2/2024 | 8,774 | | | 1/16/2024 | 7,130 | Charpentier | 11/17/2022 | 2,850 | | | 12/2/2024 | 8,774 | | 1/6/2023 | 3,581 | | | | | | 11/27/2023 | 9,575 | | | | | | 12/2/2024 | 8,774 |

  110. Outstanding Equity Awards at 2025 Fiscal Year-End

    (5)Subsequent to the 2020 fiscal year end, Mr. Zillmer agreed to forfeit 59,803 options because the total number of options granted to him on September 4, 2020 (fiscal 2020) inadvertently exceeded the annual limit of 2,000,000 options granted to an individual under the 2013 Stock Plan. These stock options are premium priced options, granted at an exercise price that exceeded the market value of the common stock on the date of grant, intended to motivate superior performance over the long term. The amount Mr. Zillmer agreed to forfeit was granted in calendar year and fiscal 2021.

  111. Outstanding Equity Awards at 2025 Fiscal Year-End

    | 50 | |

  112. Option Exercises and Stock Vested Table for Fiscal Year 2025

    Option Exercises and Stock Vested Table for Fiscal Year 2025 The following table sets forth information with respect to the named executive officers concerning the exercise of options and the vesting of restricted stock units in fiscal 2025.

  113. Option Exercises and Stock Vested Table for Fiscal Year 2025

    | Name | Option Awards | | Stock Awards | | | | Number Of Shares Acquired On Exercise (#) | Value Realized On Exercise ($)(1) | Number Of Shares Acquired On Vesting(2)(3) (#) | Value Realized On Vesting(1) ($) | | Zillmer | — | $— | 58,561 | $2,271,144 | | Tarangelo | 16,274 | $250,713 | 7,289 | $283,832 | | Bruno | 49,793 | $799,178 | 11,675 | $453,713 | | Harrington | 7,909 | $147,232 | 9,698 | $377,660 | | Charpentier | — | $— | 8,424 | $329,655 |

  114. Option Exercises and Stock Vested Table for Fiscal Year 2025

    (1)Value realized on exercise and vesting is calculated based upon the closing price of our common stock on the NYSE at the date of exercise or vesting, as applicable. (2)This column includes restricted stock units that have vested during the fiscal year. For restricted stock units the number of shares acquired on vesting includes dividend equivalents. The performance stock units with a performance period ending in fiscal 2025 will vest at the end of fiscal 2026. (3)For each named executive officer, shares actually delivered upon vesting of stock awards were net of amounts withheld related to taxes.

  115. Pension Benefits for Fiscal 2025

    Pension Benefits for Fiscal 2025 No named executive officer participated in a pension benefit plan during fiscal 2025.

  116. Non-Qualified Deferred Compensation for Fiscal Year 2025

    Non-Qualified Deferred Compensation for Fiscal Year 2025 Our named executive officers are eligible to participate in a deferred compensation plan; the Second Amended and Restated Aramark Savings Incentive Retirement Plan, which is discussed in further detail below.

  117. Non-Qualified Deferred Compensation for Fiscal Year 2025

    | Name | Executive Contributions in Last FY(1) ($) | Registrant Contributions in Last FY(2) ($) | Aggregate Earnings in Last FY(3) ($) | Aggregate Withdrawals/ Distributions ($)(4) | Aggregate Balance At Last FYE(3) ($) | | Zillmer | | | | | | | 2007 SIRP | — | — | — | — | — | | Tarangelo | | | | | | | 2007 SIRP | 40,771 | 11,750 | 52,173 | — | 1,030,774 | | Bruno | | | | | | | 2007 SIRP | 46,542 | 11,750 | 99,904 | — | 1,942,030 | | Harrington | | | | | | | 2007 SIRP | 41,590 | 11,750 | 38,800 | — | 776,237 | | Charpentier | | | | | | | 2007 SIRP | 103,778 | 11,750 | 19,819 | — | 411,790 |

  118. Non-Qualified Deferred Compensation for Fiscal Year 2025

    (1)All amounts in this column were deferred under the 2007 Savings Incentive Retirement Plan during fiscal 2025; such amounts are included in the named executive officer’s salary amount in the Summary Compensation Table. (2)These amounts constitute the Company matching contributions to the 2007 Savings Incentive Retirement Plan for fiscal 2025, which were made in November 2025. These amounts are reported in the “All Other Compensation” column of the Summary Compensation Table. (3)To the extent that participants’ earnings on their account balances for the 2007 Savings Incentive Retirement Plan exceeded 120% of the applicable federal rate, those excess earnings were reported in the Change in Pension Value and Non-Qualified Deferred Compensation Earnings column of the Summary Compensation Table as follows: for Mr. Tarangelo $5,479, for Mr. Bruno, $10,491, for Ms. Harrington, $4,075 and for Ms. Charpentier, $2,081. (4)The Aggregate Balance at Fiscal Year End includes amounts that were reported in the Summary Compensation Table for the last three fiscal years for Mr. Bruno, $214,847, for Ms. Harrington, $165,477, and for Ms. Charpentier, $371,343, and for the last two fiscal years for Mr. Tarangelo, $113,212.

  119. Non-Qualified Deferred Compensation for Fiscal Year 2025

    | | 51 |

  120. Non-Qualified Deferred Compensation for Fiscal Year 2025

    The Second Amended and Restated Aramark Savings Incentive Retirement Plan enables our named executive officers to defer up to 25% of their base salaries, which become our unfunded deferral obligations. We credit the deferral amounts with interest at the Moody’s Long Term Corporate Baa Bond Index rate for October of the previous year, which was 5.63% beginning January 1, 2025. From October 1, 2024 until December 31, 2024, we credited amounts deferred with an interest rate equal to 6.63%. Employees who participate in the Savings Incentive Retirement Plan are eligible to receive a Company matching contribution equal to 25-75% of the first 6% of their salary deferred up to the Internal Revenue Code maximum deferral limit ($23,500 for fiscal 2025). This match is intended to replicate what the employee would have received if he or she had been able to participate in our 401(k) plans. For fiscal 2025, the Company matching contribution was 50%. Participants in the Savings Incentive Retirement Plan may only make account withdrawals if there occurs an unforeseeable emergency as defined in the plan and the withdrawal is approved by the plan administrative committee. Company match amounts are not available for a hardship withdrawal. The Savings Incentive Retirement Plan is settled in cash following termination of employment and in compliance with certain requirements of Section 409A of the Internal Revenue Code. The interest rate for both the Savings Incentive Retirement Plan and the Deferred Compensation Plan will be adjusted on January 1, 2026, based on the Moody’s Long Term Corporate Baa Bond Index rate for October 2025 which is 5.74%.

  121. CEO Pay Ratio

    CEO Pay Ratio As required by Section 953(b) of the Dodd-Frank Wall Street Reform and Consumer Protection Act, we have calculated the ratio of the annual total compensation of our CEO to that of our median employee for fiscal 2025 (the “CEO pay ratio”). As described in this proxy statement, Mr. Zillmer served as our CEO for the entirety of fiscal 2025. The Company believes this ratio is a reasonable estimate, calculated as described below.

  122. PAY VERSUS PERFORMANCE ("PvP")

    PAY VERSUS PERFORMANCE ("PvP") As required by Item 402(v) of Regulation S-K, we are providing the following information regarding the relationship between executive compensation and our financial performance for each of the last five completed fiscal years. In determining the “Compensation Actually Paid” (CAP) to our NEOs, we are required to make various adjustments to amounts that have been previously reported in the Summary Compensation Table in previous years, as the SEC’s valuation methods for this section differ from those required in the Summary Compensation Table. Due to the valuation component of CAP, the dollar amounts do not reflect the actual amounts of compensation earned or paid during the year. The PvP table below summarizes compensation values both previously reported in our Summary Compensation Table, as well as the adjusted values required in this section for the fiscal years ending 2021, 2022, 2023, 2024, and 2025. Note that for our NEOs other than our CEO, compensation is reported as an average. Financial results for fiscal 2021, 2022, and 2023 include our uniform and workplace supplies business which was spun-off immediately following the end of fiscal 2023 into a standalone public company.

  123. PAY VERSUS PERFORMANCE ("PvP")

    | Year | Summary Compensation Table Total for Mr. John Zillmer ($)(1) | Compensation Actually Paid to Mr. John Zillmer ($)(1) | Average Summary Compensation Table Total for Non-CEO NEOs ($)(2) | Average Compensation Actually Paid to Non-CEO NEOs ($)(2) | Value of Initial Fixed $100 Investment Based On: | | Net Income (Loss) ($)(4) | Adjusted Operating Income ($)(5) | | | | | | | Total Shareholder Return ($)(3) | Peer Group Total Shareholder Return ($)(3) | | | | (a) | (b) | (c) | (d) | (e) | (f) | (g) | (h) | (i) | | 2025 | $14,542,376 | $8,922,415 | $3,434,108 | $2,576,173 | $196 | $153 | $326 | $981 | | 2024 | $18,744,218 | $24,208,524 | $3,037,579 | $3,634,399 | $193 | $134 | $263 | $882 | | 2023 | $12,730,832 | $17,561,749 | $2,798,131 | $3,801,667 | $126 | $99 | $674 | $1,035 | | 2022 | $13,324,828 | $11,476,028 | $3,159,511 | $2,767,923 | $113 | $85 | $194 | $780 | | 2021 | $5,051,719 | $17,205,619 | $1,657,932 | $4,986,026 | $130 | $121 | $(92) | $292 |

  124. PAY VERSUS PERFORMANCE ("PvP")

    (1)Mr. Zillmer served as CEO in 2021, 2022, 2023, 2024 and 2025. (2)Non-CEO NEOs were as follows for each fiscal year 1.2021 and 2022: Messrs. Ondrof and Bruno and Mses. Harrington and McKee 2.2023: Messrs. Ondrof and Bruno and Mses. Harrington and Charpentier 3.2024: Messrs. Ondrof, Bruno and Tarangelo and Mses. Harrington and Charpentier 4.2025: Messrs. Bruno and Tarangelo and Mses. Harrington and Charpentier (3)Total Shareholder Return (TSR) assumes $100 is invested as of October 2, 2020. TSR represents cumulative return over the applicable period. The Peer Group used for this calculation was the Dow Jones Consumer Non-Cyclical Index which is also reported on Form 10-K in the Stock Price Performance graph. (4)Net Income (Loss) reflected represents GAAP Net Income (Loss) as reported on Form 10-K within the Results of Operations. (5)Adjusted Operating Income is the company-selected performance measures per the requirements of item 402(v) of Regulation S-K. Adjusted Operating Income represents operating income adjusted to eliminate the change in amortization of acquisition-related intangible assets; severance and other charges; spin-off related charges and other items impacting comparability. Reconciliation of Adjusted Operating Income to measures calculated in accordance with GAAP is provided in Annex A.

  125. Relationship of Compensation Actually Paid and Performance Measures

    Relationship of Compensation Actually Paid and Performance Measures The following charts describe the relationship of Compensation Actually Paid to the performance measures listed in the PvP Table above. Compensation Actually Paid (CAP) vs. ARMK 5-year Cumulative TSR vs. Peer 5-year Cumulative TSR

  126. Relationship of Compensation Actually Paid and Performance Measures

    | 62 | |

  127. Relationship of Compensation Actually Paid and Performance Measures

    Compensation Actually Paid (CAP) vs. Net Income (Loss) Compensation Actually Paid (CAP) vs. Adjusted Operating Income

  128. Relationship of Compensation Actually Paid and Performance Measures

    | | 63 |

  129. Net New Business

    Net New Business Net New Business is an internal statistical metric used to evaluate our new sales and retention performance. The calculation is defined as the annualized value of gross new business less the annualized value of lost business. We use Adjusted Operating Income, Covenant Adjusted EBITDA and Free Cash Flow as supplemental measures of our operating profitability and to control our cash operating costs. We believe these financial measures are useful to investors because they enable better comparisons of our historical results and allow our investors to evaluate our performance based on the same metrics that we use to evaluate our performance and trends in our results. These financial metrics are not measurements of financial performance under generally accepted accounting principles, or GAAP. Our presentation of these metrics has limitations as an analytical tool and should not be considered in isolation or as a substitute for analysis of our results as reported under GAAP. You should not consider these measures as alternatives to operating income or net cash provided by operating activities, determined in accordance with GAAP. Adjusted Operating Income, Covenant Adjusted EBITDA and Free Cash Flow as presented by us may not be comparable to other similarly titled measures of other companies because not all companies use identical calculations.

  130. Net New Business

    | | Annex-1 |