<SEC-DOCUMENT>0001104659-22-048460.txt : 20220421
<SEC-HEADER>0001104659-22-048460.hdr.sgml : 20220421
<ACCEPTANCE-DATETIME>20220421172527
ACCESSION NUMBER:		0001104659-22-048460
CONFORMED SUBMISSION TYPE:	DEFA14A
PUBLIC DOCUMENT COUNT:		1
FILED AS OF DATE:		20220421
DATE AS OF CHANGE:		20220421

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			MCDONALDS CORP
		CENTRAL INDEX KEY:			0000063908
		STANDARD INDUSTRIAL CLASSIFICATION:	RETAIL-EATING PLACES [5812]
		IRS NUMBER:				362361282
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		DEFA14A
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-05231
		FILM NUMBER:		22842433

	BUSINESS ADDRESS:	
		STREET 1:		110 NORTH CARPENTER STREET
		CITY:			CHICAGO
		STATE:			IL
		ZIP:			60607
		BUSINESS PHONE:		630 623 3000

	MAIL ADDRESS:	
		STREET 1:		110 NORTH CARPENTER STREET
		CITY:			CHICAGO
		STATE:			IL
		ZIP:			60607
</SEC-HEADER>
<DOCUMENT>
<TYPE>DEFA14A
<SEQUENCE>1
<FILENAME>tm2210156d3_defa14a.htm
<DESCRIPTION>DEFA14A
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>UNITED STATES</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>SECURITIES AND EXCHANGE COMMISSION</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Washington, D.C. 20549</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 14pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>SCHEDULE 14A</B></P>

<P STYLE="font: 14pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">Proxy Statement Pursuant to Section 14(a) of</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">the Securities Exchange Act of 1934 (Amendment
No. &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;)</P>

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    <TD COLSPAN="2" STYLE="padding-right: 0.05in; padding-left: 10pt; text-indent: -10pt">Filed by the Registrant <FONT STYLE="font-family: Wingdings">x</FONT></TD></TR>
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    <TD COLSPAN="2" STYLE="padding-right: 0.05in; padding-left: 10pt; text-indent: -10pt">Filed by a Party other than the Registrant <FONT STYLE="font-family: Wingdings">o</FONT></TD></TR>
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    <TD COLSPAN="2" STYLE="padding-right: 0.05in; padding-left: 10pt; text-indent: -10pt">&nbsp;</TD></TR>
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    <TD COLSPAN="2" STYLE="padding-right: 0.05in; padding-left: 10pt; text-indent: -10pt">Check the appropriate box:</TD></TR>
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    <TD STYLE="width: 6%; padding-right: 0.05in; padding-left: 10pt; text-indent: -10pt"><FONT STYLE="font-family: Wingdings">o</FONT></TD>
    <TD STYLE="width: 94%; padding-right: 0.05in; padding-left: 0.05in">Preliminary Proxy Statement</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 0.05in; padding-left: 10pt; text-indent: -10pt"><FONT STYLE="font-family: Wingdings">o</FONT></TD>
    <TD STYLE="padding-right: 0.05in; padding-left: 0.05in"><B>Confidential, for Use of the Commission Only (as permitted by Rule 14a&#45;6(e)(2))</B></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 0.05in; padding-left: 10pt; text-indent: -10pt"><FONT STYLE="font-family: Wingdings">o</FONT></TD>
    <TD STYLE="padding-right: 0.05in; padding-left: 0.05in">Definitive Proxy Statement</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 0.05in; padding-left: 10pt; text-indent: -10pt"><FONT STYLE="font-family: Wingdings">x</FONT></TD>
    <TD STYLE="padding-right: 0.05in; padding-left: 0.05in">Definitive Additional Materials</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 0.05in; padding-left: 10pt; text-indent: -10pt"><FONT STYLE="font-family: Wingdings">o</FONT></TD>
    <TD STYLE="padding-right: 0.05in; padding-left: 0.05in">Soliciting Material under &sect;240.14a&#45;12</TD></TR>
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    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 10pt; text-align: center; text-indent: -10pt"><FONT STYLE="font-size: 14pt"><B>McDONALD&rsquo;S CORPORATION</B></FONT></P></TD></TR>
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    <TD COLSPAN="2" STYLE="border-top: Black 1pt solid; padding-right: 0.05in; padding-left: 0.05in">


    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 10pt; text-align: center; text-indent: -10pt">(Name of Registrant
as Specified In Its Charter)&nbsp;</P>
</TD></TR>
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    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 10pt; text-align: center; text-indent: -10pt">(Name of Person(s)
    Filing Proxy Statement, if other than the Registrant)</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 10pt; text-align: center; text-indent: -10pt">&nbsp;</P></TD></TR>
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    <TD COLSPAN="2" STYLE="padding-right: 0.05in; padding-left: 10pt; font-size: 10pt; text-indent: -10pt">Payment of Filing Fee (Check the appropriate box):</TD></TR>
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    <TD STYLE="width: 6%; padding-right: 0.05in; padding-left: 10pt; font-size: 10pt; text-indent: -10pt"><FONT STYLE="font-family: Wingdings">x</FONT></TD>
    <TD STYLE="width: 94%; padding-right: 0.05in; padding-left: 0.05in; font-size: 10pt">No fee required.</TD></TR>
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    <TD STYLE="padding-right: 0.05in; padding-left: 0.05in">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Fee paid previously with preliminary materials.&nbsp;</P></TD></TR>
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    <TD STYLE="padding-right: 0.05in; padding-left: 0.05in; font-size: 10pt">Fee computed on table in exhibit required by Item 25(b) per Exchange Act Rules 14a6(i)(1) and 0-11</TD></TR>
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<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: left">On April 21, 2022, McDonald's Corporation (&ldquo;McDonald's&rdquo;) issued a press release, a copy of which is attached hereto as Exhibit
1.</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: right"><B>Exhibit 1</B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif"><B>Statement
from McDonald&rsquo;s Corporation in Response to Mr. Icahn&rsquo;s Media Outreach</B></FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif"><B>CHICAGO, April 21,
2022 &ndash;</B> McDonald&rsquo;s Corporation (NYSE: MCD) today issued the following statement in response to Carl Icahn:</FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; background-color: white"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 0.5in; background-color: white"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">McDonald&rsquo;s
cares about the health and welfare of the animals in our supply chain and has long led the industry with our animal welfare commitments.
Our pioneering 2012 commitment regarding group housing for pregnant sows was shaped with input from industry experts and the American
Association of Swine Veterinarians. It led to a step-change in the industry, with a commonly adopted approach to group housing.</FONT></P>

<P STYLE="font: 11pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 0.5in; background-color: white"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 0.5in; background-color: white"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">McDonald&rsquo;s
only sources approximately 1% of U.S. pork production and does not own any sows, or produce or package pork. Despite McDonald&rsquo;s
progress on our commitment to source from producers who do not use gestational crates for pregnant sows, Mr. Icahn has asked for new
commitments. These include requiring all of McDonald&rsquo;s U.S. pork suppliers to move to &ldquo;crate-free&rdquo; pork and set specific
timeframes for doing so.</FONT></P>

<P STYLE="font: 11pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 0.5in; background-color: white"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 0.5in; background-color: white"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">The
definition of &ldquo;crate-free,&rdquo; conjured up by the Humane Society of the United States (HSUS), is so obscure that it represents
an extremely niche market comprising less than 0.1% of U.S. pork production. This presents a challenge of supply. What Mr. Icahn is demanding
from McDonald&rsquo;s and other companies is completely unfeasible. Based on current estimates, McDonald&rsquo;s would require at least
300-400 times the animals housed today in &ldquo;crate-free&rdquo; systems to keep our supply chain running. It also presents a cost
challenge. McDonald&rsquo;s today pays a premium to purchase group-housed pork in accordance with our 2012 commitment. Sourcing from
this niche market, as Mr. Icahn, his Director nominees &ndash; Maisie Ganzler and Leslie Samuelrich &ndash; and HSUS suggest, would significantly
increase those costs, placing a burden on all aspects of our business, our supply chain and McDonald&rsquo;s customers, while lacking
the broad support of industry experts.</FONT></P>

<P STYLE="font: 11pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 0.5in; background-color: white"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 0.5in; background-color: white"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">Mr.
Icahn asserts that McDonald&rsquo;s customers &ldquo;want food that is sourced ethically, responsibly, and humanely.&rdquo; We agree,
and we take our role in providing that seriously. Value and accessibility are also important, particularly as customers confront rising
costs in all aspects of daily life. Lacking broad support from industry experts, his campaign would have one certain outcome: a greater
financial burden on customers.</FONT></P>

<P STYLE="font: 11pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 0.5in; background-color: white"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 0.5in; background-color: white"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">In
addition to the financial burden this would place on customers, Mr. Icahn has also failed to address the inherent hypocrisy of his campaign.
Mr. Icahn is the majority owner of Viskase, a company that produces and supplies packaging for the pork and poultry industry. Viskase
has no public commitments similar to those McDonald&rsquo;s championed in 2012 and does not limit its business to meat producers who
raise their animals in the &ldquo;crate-free&rdquo; housing systems espoused by HSUS.</FONT></P>

<P STYLE="font: 11pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 0.5in; background-color: white"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 0.5in; background-color: white"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">As
we shared in our 2022 Proxy statement, under the current Board&rsquo;s leadership, McDonald&rsquo;s has led the industry not only in
animal welfare but across the most pressing ESG matters. Mr. Icahn has nominated two candidates to stand for election at McDonald&rsquo;s
2022 Annual Meeting and has made it clear that his nomination relates to the very narrow issue of his campaign.</FONT></P>

<P STYLE="font: 11pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 0.5in; background-color: white"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 0.5in; background-color: white"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">In
so doing, Mr. Icahn would seek to remove valuable directors with strong track records from the McDonald&rsquo;s Board and replace them
with single-platform nominees that not only lack public company board experience, but also the expertise and qualifications to add meaningful
value to the majority of issues regularly faced by the McDonald&rsquo;s Board. McDonald&rsquo;s shareholders deserve better.</FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0 0pt 0.5in; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; background-color: white; color: #292929"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif"><B>About
McDonald&rsquo;s</B></FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; background-color: white; color: #292929">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; background-color: white; color: #292929"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">McDonald&rsquo;s
is the world's leading global foodservice retailer with more than 40,000 locations in over 100 countries. Approximately 93% of McDonald&rsquo;s
restaurants worldwide are owned and operated by independent local business owners.</FONT></P>




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<P STYLE="font: 11pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; background-color: white"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; background-color: white; color: #292929"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif"><B>Forward-Looking
Statements</B></FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; background-color: white; color: #292929">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; background-color: white; color: #292929"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">This
release and other written or oral statements made from time to time by McDonald&rsquo;s Corporation (&ldquo;McDonald&rsquo;s&rdquo;)
contain forward-looking statements about future events and circumstances. Generally speaking, any statement not based upon historical
fact is a forward-looking statement. In particular, statements regarding McDonald&rsquo;s plans, strategies, prospects and expectations
regarding its business and industry are forward-looking statements. They reflect McDonald&rsquo;s expectations, are not guarantees of
performance and speak only as of the date hereof. Except as required by law, McDonald&rsquo;s does not undertake to update such forward-looking
statements. You should not rely unduly on forward-looking statements. McDonald&rsquo;s business results are subject to a variety of risks,
including those that are described in its 2021 Annual Report on Form 10-K and subsequent filings with the Securities and Exchange Commission
(the &ldquo;SEC&rdquo;).</FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; background-color: white; color: #292929"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; background-color: white; color: #292929"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif"><B>IMPORTANT
ADDITIONAL INFORMATION REGARDING PROXY SOLICITATION</B></FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; background-color: white; color: #292929"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif"><B>&nbsp;</B></FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; background-color: white"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #292929">McDonald&rsquo;s
has filed a definitive proxy statement and WHITE proxy card with the SEC in connection with its solicitation of proxies for its 2022
Annual Meeting. MCDONALD&rsquo;S SHAREHOLDERS ARE ENCOURAGED TO READ THE DEFINITIVE PROXY STATEMENT (AND ANY AMENDMENTS AND SUPPLEMENTS
THERETO), THE ACCOMPANYING WHITE PROXY CARD AND OTHER DOCUMENTS FILED WITH THE SEC IN THEIR ENTIRETY BECAUSE THEY CONTAIN IMPORTANT INFORMATION.
McDonald&rsquo;s shareholders may obtain a copy of the definitive proxy statement (and any amendments and supplements thereto), the accompanying
WHITE proxy card and other relevant documents filed by McDonald&rsquo;s with the SEC without charge from the SEC&rsquo;s website at </FONT><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif"><U>www.sec.gov</U><FONT STYLE="color: #292929">.
McDonald&rsquo;s shareholders may also obtain a copy of these documents without charge by sending a request to shareholder.services@us.mcd.com
or visiting the investor section of the McDonald&rsquo;s website at </FONT><U>www.investor.mcdonalds.com</U><FONT STYLE="color: #292929">.
</FONT></FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; background-color: white; color: #292929"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif"><B>&nbsp;</B></FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; background-color: white; color: #292929"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif"><B>CERTAIN
INFORMATION REGARDING PARTICIPANTS</B></FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; background-color: white; color: #292929"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif"><B>&nbsp;</B></FONT></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0pt 0; background-color: white"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; color: #292929">McDonald&rsquo;s,
its Directors and certain of its executive officers are participants in the solicitation of proxies from McDonald&rsquo;s shareholders
in connection with the matters to be considered at the 2022 Annual Meeting. Information regarding the ownership of McDonald&rsquo;s Directors
and executive officers in McDonald&rsquo;s common stock is included in the definitive proxy statement for its 2022 Annual Meeting, filed
with the SEC on April 8, 2022, which can be found through the SEC&rsquo;s website at </FONT><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif"><U>www.sec.gov</U><FONT STYLE="color: #292929">.
Changes to such ownership have been or will be reflected on Statements of Changes in Beneficial Ownership on Form 4 filed with the SEC.
Details concerning the nominees of the McDonald&rsquo;s Board of Directors for election at the 2022 Annual Meeting are also included
in such definitive proxy statement.</FONT></FONT></P>

<P STYLE="font: 10pt Speedee,sans-serif; margin: 0pt 0; background-color: white; color: #292929">&nbsp;</P>

<P STYLE="font: 10pt Speedee,sans-serif; margin: 0pt 0; background-color: white; color: #292929"><B>Contacts</B></P>

<P STYLE="font: 10pt Speedee,sans-serif; margin: 0pt 0; background-color: white; color: #292929">&nbsp;</P>

<P STYLE="font: 10pt Speedee,sans-serif; margin: 0pt 0; background-color: white; color: #292929">McDonald&rsquo;s Corporation Global Communications</P>

<P STYLE="font: 10pt Speedee,sans-serif; margin: 0pt 0; background-color: white; color: #292929">Jesse Lewin</P>

<P STYLE="font: 10pt Speedee,sans-serif; margin: 0pt 0; background-color: white; color: #292929">Jesse.Lewin@us.mcd.com</P>

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