<PAGE>
SCHEDULE 14A INFORMATION
Proxy Statement Pursuant to Section 14(a) of the Securities and Exchange Act
of 1934
(Amendment No. )
Filed by the Registrant (x)
Filed by a Party other than the Registrant ( )
Check the appropriate box:
[ ] Preliminary Proxy Statement
[ ] Confidential, for use of the Commission Only
(as permitted by Rule 14a-6(c)(2))
[x] Definitive Proxy Statement
[ ] Definitive Additional Materials
[ ] Soliciting Material Pursuant to Section 240.14a-11(c) or Section 240.14a-12
PUBLIX SUPER MARKETS, INC.
------------------------------------------------
(Name of Registrant as Specified in its Charter)
- -----------------------------------------------------------------------------
(Name of Person(s) Filing Proxy Statement, if other than the Registrant)
Payment of Filing Fee (Check the appropriate box):
[x] No fee required.
[ ] Fee computed on thable below per Exchange Act Rules 14a-6(i)(1) and 0-11
1) Title of each class of securities to which transaction applies:
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2) Aggregate number os securities to which transaction applies:
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3) Per unit price or other underlying value of transaction computed pursuant
to Exchange Act Rule 0-11 (set forth the amount on which the filing fee
is calculated and state how it was determined):
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4) Proposed maximum aggregate value of transaction:
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5) Total fee paid:
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[ ] Fee paid previously with preliminary materials.
[ ] Check box if any part of the fee is offset as provided by Exchange Act
Rule 0-11(a)(2) and identify the filing for which the offsetting fee was
paid previously. Identify the previous filing by registration statement
number, or the Form or Schedule and the date of its filing.
1) Amount Previously Paid:
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2) Form, Schedule or Registration Statement No.:
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3) Filing Party:
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4) Date Filed:
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<PAGE>
PUBLIX SUPER MARKETS, INC.
1997 NOTICE OF ANNUAL MEETING
OF STOCKHOLDERS AND PROXY STATEMENT
Tuesday, May 13, 1997
Main Office & Warehouse
1936 George Jenkins Boulevard
Lakeland, Florida 33815
To Our Stockholders:
Notice is hereby given, pursuant to the By-Laws of the Corporation, that
the Annual Meeting of Stockholders of Publix Super Markets, Inc., a Florida
Corporation, will be held at the principal office of the Corporation, 1936
George Jenkins Boulevard, Lakeland, Florida, on Tuesday, May 13, 1997, at
9:30 a.m. for the following purposes:
1. To elect a Board of Directors;
2. To transact such other business as may properly come
before the meeting or any adjournments thereof.
Accompanying the Notice of Annual Meeting of Stockholders is a Proxy
Statement and a proxy card. Whether or not you plan to attend this meeting,
please mark, sign, date and return the proxy card in the enclosed return
envelope.
By order of the Board of Directors:
/s/ S. Keith Billups
S. Keith Billups
Secretary
Dated: March 4, 1997
<PAGE>
GENERAL INFORMATION
This Proxy Statement is being mailed on or about April 10, 1997, to the
stockholders of Publix Super Markets, Inc. (the "Corporation") in
connection with the solicitation of proxies by the Board of Directors of
the Corporation for use at the Annual Meeting of Stockholders to be held on
May 13, 1997, or any adjournments thereof. The cost of the enclosed proxy
is borne by the Corporation.
VOTING SECURITIES OUTSTANDING
As of March 4, 1997, there were 219,559,931 shares of common stock of the
Corporation outstanding. Each share is entitled to one vote.
Only holders of common stock of record at the close of business on March 4,
1997, will be entitled to vote at the Annual Meeting of Stockholders.
VOTING PROCEDURES
A stockholder giving the enclosed proxy has the power to revoke it at any
time before it is exercised by filing a written notice of such revocation
or a duly executed proxy bearing a later date with the Secretary of the
Corporation, at the principal office of the Corporation, 1936 George
Jenkins Boulevard, Lakeland, Florida. The execution of the enclosed proxy
will not affect a stockholder's right to vote in person at the meeting
should the stockholder later find it convenient to attend the meeting and
desire to vote in person.
The proxy cards will be tabulated by employees of the Corporation. A
stockholder attending in person or by proxy will be counted as part of the
quorum for the meeting, even if that person abstains or otherwise does not
vote on any matter. Directors will be elected by a plurality of the votes
cast at the meeting in person or by proxy. Any other matter submitted to a
vote of the stockholders must be approved by the affirmative vote of the
majority of shares voted at the meeting in person or by proxy. An
abstention or a failure to vote is not counted in determining whether a
plurality of votes exists, but an abstention or a failure to vote is
equivalent to a "no" vote when a majority vote of all outstanding shares is
required.
ELECTION OF DIRECTORS
The Corporation's By-Laws specify that the Board of Directors shall not be
less than three nor more than fifteen members. The exact number of
directors shall be fixed by resolution of the then authorized number of
directors. The Board of Directors has fixed the number of directors at nine
members. The persons designated as nominees for election as a director are
Carol Jenkins Barnett, Hoyt R. Barnett, W. Edwin Crenshaw, Mark C. Hollis,
Charles H. Jenkins, Jr., Howard M. Jenkins, Tina P. Johnson, E.V. McClurg
and William H. Vass. Each nominee is currently a director of the
Corporation. Management of the Corporation recommends a vote FOR all the
nominees. The proxies will be voted FOR the election of the nine nominees
unless the stockholder specifies otherwise. The term of office of the
directors will be until the next annual meeting or until their successors
shall be elected and qualified.
If one or more of the nominees become unable or unwilling to serve at the
time of the meeting, the shares represented by proxy will be voted for the
remaining nominees and for any substitute nominee(s) designated by the
Board of Directors or, if none, the size of the Board will be reduced
accordingly. The Board of Directors does not anticipate that any nominee
will be unavailable or unable to serve.
<PAGE>
INFORMATION CONCERNING PROPOSED
DIRECTORS AND CERTAIN BENEFICIAL OWNERS
The following table sets forth certain information about the shares of the
Corporation's common stock beneficially owned as of March 4, 1997, by the
Corporation's proposed directors. Additionally listed are all directors and
executive officers as a group and others known by the Corporation to own
beneficially 5% or more of the Corporation's common stock.
<TABLE>
<CAPTION>
Name, Principal Occupation
Presently and During Last
Five Years and Period of Nature of Family Relationship Number of Shares of Common
Service as Director of with Executive Officers Stock Beneficially Owned Percent
the Corporation (Age) and Directors as of March 4, 1997 (1) of Class
- ----------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C>
Carol Jenkins Barnett Sister of Howard M. Jenkins, 12,299,237 (2) 5.60
Director since 1983 (40) cousin of Charles H. Jenkins, Jr.,
aunt of W. Edwin Crenshaw and
wife of Hoyt R. Barnett
Hoyt R. Barnett Husband of Carol Jenkins Barnett 22,594,229 (3) 10.29
Executive Vice President and brother-in-law of Howard M. Jenkins
of the Corporation and
Trustee of the Profit
Sharing Plan since 1992,
previously Executive Vice
President, Director since
1985 (53)
W. Edwin Crenshaw Nephew of Carol Jenkins Barnett, 641,812 *
President of the nephew of Howard M. Jenkins and
Corporation since 1996, cousin of Charles H. Jenkins, Jr.
previously Executive Vice
President (1994) and Vice
President, Director since
1990 (46)
Mark C. Hollis 1,432,188 (4) *
Vice Chairman of the Board
of the Corporation since
1996, previously President
and Chief Operating Officer,
Director since 1974. He was
previously a Director of Bell
South Telecommunications, a
Bell South Company (62)
</TABLE>
* Shares represent less than 1% of class.
Note references are explained on page 4.
<PAGE>
<TABLE>
<CAPTION>
<CAPTION>
Name, Principal Occupation
Presently and During Last
Five Years and Period of Nature of Family Relationship Number of Shares of Common
Service as Director of with Executive Officers Stock Beneficially Owned Percent
the Corporation (Age) and Directors as of March 4, 1997 (1) of Class
- ----------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C>
Charles H. Jenkins, Jr. Cousin of Carol Jenkins Barnett, 1,791,593 *
Chairman of the Executive cousin of W. Edwin Crenshaw and
Committee of the Corporation, cousin of Howard M. Jenkins
Director since 1974 (53)
Howard M. Jenkins Brother of Carol Jenkins Barnett, 13,683,037 (5) 6.23
Chairman of the Board and cousin of Charles H. Jenkins, Jr.,
Chief Executive Officer of uncle of W. Edwin Crenshaw and
the Corporation, Director brother-in-law of Hoyt R. Barnett
since 1977 (45)
Tina P. Johnson
Vice President and Treasurer 1,681,624 (6) *
of the Corporation and
Trustee of the 401(k) Plan -
Publix Stock Fund since 1996,
previously Treasurer and
Trustee of the 401(k) Plan -
Publix Stock Fund (1995),
Treasurer (1992) and Assistant
Secretary, Director since
1993 (37)
E.V. McClurg
Attorney-at-law, law office of 1,987,892 *
Hahn, McClurg, Watson, Griffith
& Bush since 1995, previously
law office of E.V. McClurg,
Director since 1988 (55)
William H. Vass
Executive Vice President of the 32,590,655 (7) 14.84
Corporation and Trustee of the
Employee Stock Ownership Plan
since 1992, previously Vice
President and Treasurer,
Director since 1988 (47)
</TABLE>
* Shares represent less than 1% of class.
Note references are explained on page 4.
<PAGE>
(1)As used in the table on the preceding pages, "beneficial ownership"
means the sole or shared voting or investment power with respect to the
Corporation's common stock. Holdings of officers include shares
allocated to their individual accounts in the Corporation's Employee
Stock Ownership Plan, over which each officer exercises sole voting
power and shared investment power. In accordance with the beneficial
ownership regulations, the same shares of common stock may be included
as beneficially owned by more than one individual or entity.
(2)Includes 1,268,316 shares which are also shown as beneficially owned by
Carol Jenkins Barnett's husband, Hoyt R. Barnett, but excludes all
other shares beneficially owned by Hoyt R. Barnett, as to which Carol
Jenkins Barnett disclaims beneficial ownership.
(3)Hoyt R. Barnett is Trustee of the Profit Sharing Plan which is the
record owner of 21,200,000 shares of common stock over which he
exercises sole voting and investment power. Total shares beneficially
owned include 1,268,316 shares also shown as beneficially owned by his
wife, Carol Jenkins Barnett, but exclude all other shares of common
stock beneficially owned by Carol Jenkins Barnett, as to which Hoyt R.
Barnett disclaims beneficial ownership.
(4)All shares are owned in a family trust over which Mark C. Hollis is Co-
Trustee with his wife. As Co-Trustee, Mark C. Hollis has shared voting
and investment power for these shares.
(5)Howard M. Jenkins has sole voting and sole investment power over
2,802,490 shares of common stock which are held directly, sole voting
and sole investment power over 162,103 shares which are held indirectly
and shared voting and shared investment power over 10,700,373 shares
which are held indirectly.
(6)Tina P. Johnson is Trustee of the 401(k) Plan - Publix Stock Fund which
is the record owner of 1,634,149 shares of common stock over which she
has sole voting and shared investment power.
(7)William H. Vass is Trustee of the Employee Stock Ownership Plan (ESOT)
which is the record owner of 32,556,845 shares of common stock over
which he has shared investment power. As Trustee, William H. Vass
exercises sole voting power over 643,923 shares in the ESOT because
such shares have not been allocated to participants' accounts. For
ESOT shares allocated to participants' accounts, William H. Vass will
vote shares as instructed by participants. Additionally, William H.
Vass will vote ESOT shares for which no instruction is received.
<PAGE>
OTHER BENEFICIAL OWNERS' INFORMATION
Twenty-eight directors and executive officers as a group beneficially owned
88,063,160 shares or 40.11% of the common stock of the Corporation as of
March 4, 1997. Included in this amount are 55,390,994 shares or 25.23% in
the Profit Sharing Plan, Employee Stock Ownership Plan and 401(k) Plan -
Publix Stock Fund.
Nancy E. Jenkins, sister of Howard M. Jenkins, is the record and beneficial
owner of 14,703,305 shares or 6.70% of the common stock of the Corporation.
Beneficial owners of 5% or more of common stock who are known by the
Corporation include those noted in the preceding table with respect to
directors, the Profit Sharing Plan and the Employee Stock Ownership Plan or
otherwise noted above. The Corporation is aware of no other beneficial
owners of 5% or more of the common stock of the Corporation. The address
for all beneficial owners is 1936 George Jenkins Boulevard, Lakeland,
Florida, 33815.
Under Section 16 of the Securities Exchange Act of 1934, certain officers,
directors and stockholders of the Corporation are required to file reports
of stock ownership and changes therein with the Securities and Exchange
Commission. Without engaging in any transaction in the Corporation's
stock, the Publix Profit Sharing Plan became a 10% holder of the
Corporation's common stock during 1993 as a result of a reduction in the
number of the Corporation's outstanding shares. The inadvertent failure of
the Plan to file a Form 3 at such time was discovered and corrected during
1996. In addition, previous reports (one Form 4 and one Form 5 involving
one transaction) filed by W. Edwin Crenshaw did not reflect his indirect
beneficial ownership of certain shares. Also, a previous report (one Form
5 involving one transaction) filed by Thomas M. McLaughlin did not reflect
a transfer of certain shares. Upon learning of the omissions, Mr. Crenshaw
and Mr. McLaughlin promptly filed amended reports to reflect the required
information.
COMPENSATION OF DIRECTORS
The directors of the Corporation are not compensated for services as
directors.
COMPENSATION COMMITTEE INTERLOCKS AND INSIDER PARTICIPATION
Compensation Committee members, who were all officers of the Corporation
during 1996, include: Hoyt R. Barnett, W. Edwin Crenshaw, Charles H.
Jenkins, Jr., Howard M. Jenkins and William H. Vass. There were no
interlocks of executive officers or directors of the Corporation serving on
the compensation or equivalent committee of another entity which has any
executive officer or director serving on the Compensation Committee, other
committee or Board of Directors of the Corporation.
During 1996, the Corporation purchased approximately $1,837,000 of food
products from Alma Food Imports, Inc., a company owned by Julia Jenkins
Fancelli, sister of Howard M. Jenkins.
<PAGE>
COMPENSATION COMMITTEE REPORT ON EXECUTIVE COMPENSATION
The Board's Compensation Committee is responsible for reviewing the salary
and benefit structure of the Corporation with respect to its executive
officers. The compensation for the named executive officers, including the
CEO, include a base salary and an incentive bonus.
The factors considered in determining the base salary include: (1) the
overall level of responsibility and the relationship to compensation levels
of the Corporation's management, (2) the compensation levels of
supermarket chains in the Corporation's Peer Group Index, taking into
account the size and financial performance of the Corporation, (3)
anticipated competitive operating conditions and (4) overall economic
conditions. During 1996, the CEO of the Corporation, Howard M. Jenkins,
and one other named executive officer received no base salary increase.
While the first two factors above suggested increases in salary for these
named executive officers, the Corporation decided to maintain these
salaries at the same level consistent with its conservative position
regarding base salary increases for named executive officers. Also,
consistent with this position, one other named executive officer received a
modest base salary increase. The base salaries of W. Edwin Crenshaw and
William H. Vass were adjusted to reflect increased responsibilities. W.
Edwin Crenshaw assumed the position of President from Mark C. Hollis at the
beginning of 1996 and William H. Vass assumed the responsibilities of
manufacturing, purchasing and distribution.
Bonuses are paid generally in the year following the year earned. During
1992, the Corporation implemented an incentive bonus plan. The incentive
bonus covers approximately 350 management employees. Under the plan, a
bonus pool is established as a fraction of earnings before income taxes for
the twelve months ended with the third quarter for each fiscal year. Then,
this pool is adjusted upward or downward to reflect actual sales results
for the same twelve month period in comparison to a sales goal. The
fraction of earnings before income taxes that is used was determined in
1992. The fraction equaled the percentage of 1991 earnings before income
taxes represented by 1991 discretionary bonuses paid in total, without any
formula, to those who began to participate in the incentive bonus in 1992.
The same fraction of earnings has been maintained as essentially constant
since 1992 because of the desire to have the bonus pool in total change
only as the performance of the Corporation changes. The bonus pool is
allocated among the participating management employees, including the named
executive officers, based on compensation paid for the twelve months ended
with the third quarter of the fiscal year. The bonuses are earned for
employment during the calendar year and an employee must be employed at the
end of the calendar year to participate in the bonus. However, the bonuses
are allocated on compensation for the period described above so the bonuses
can be determined by year end. The 1996 bonus increases for the named
executive officers principally result from the increased profitability of
the Corporation during the measurement period described above. The 1996
bonuses were calculated and paid prior to the settlement of the
Corporation's class action gender discrimination suit. The effect of the
settlement will be reflected in the calculation of the 1997 bonuses.
The compensation earned by the executives named in the following table
ranks at or near the bottom of compensation earned by comparable positions
among the peer group supermarket chains included in the performance graph
on page 9.
This report is submitted by the following members of the Compensation
Committee during 1996:
Hoyt R. Barnett, W. Edwin Crenshaw, Charles H. Jenkins, Jr., Howard M.
Jenkins and William H. Vass.
<PAGE>
EXECUTIVE COMPENSATION
The following table summarizes the compensation earned by the Corporation's
Chief Executive Officer (CEO) and the Corporation's four most highly
compensated executive officers other than the CEO who were serving as
executive officers at the end of 1996 and for services rendered in all
capacities to the Corporation during the years ended 1996, 1995 and 1994:
SUMMARY COMPENSATION TABLE
<TABLE>
<CAPTION>
Long Term Compensation
-----------------------------
Annual Compensation Awards Payouts
-------------------------------------- -------------------- -------
Other
Annual Restricted All Other
Compen- Stock Options/ LTIP Compen-
Name and Principal Position Year Salary Bonus (1) sation Award SARs (#) Payouts sation(2)
- ----------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C>
Howard M. Jenkins (22) 1996 $300,000 $149,477 - - - - $14,679
Chairman of the Board, 1995 300,000 128,606 - - - - 15,251
Chief Executive Officer and 1994 300,000 112,934 - - - - 26,726
Director
Charles H. Jenkins, Jr. (27) 1996 $236,000 $115,122 - - - - $14,679
Chairman of the 1995 228,000 97,098 - - - - 15,251
Executive Committee and 1994 228,000 83,767 - - - - 26,726
Director
W. Edwin Crenshaw (22) 1996 $232,000 $108,757 - - - - $14,679
President and Director 1995 209,000 85,847 - - - - 15,251
1994 192,000 71,704 - - - - 26,726
William H. Vass (17) 1996 $272,000 $130,879 - - - - $14,679
Executive Vice President 1995 256,000 106,279 - - - - 13,979
and Director 1994 236,000 91,245 - - - - 24,322
Hoyt R. Barnett (28) 1996 $198,000 $ 99,346 - - - - $14,679
Executive Vice President 1995 198,000 86,860 - - - - 15,251
and Director 1994 198,000 80,894 - - - - 26,726
</TABLE>
( )Years of Service
(1)Amounts in this column include bonuses earned in the applicable year but
paid in a subsequent year.
(2)Amounts in this column include the Corporation's contribution to the
Profit Sharing Plan and the Employee Stock Ownership Plan for 1994.
The 1995 and 1996 amounts include the Corporation's contribution to the
Profit Sharing Plan, the Employee Stock Ownership Plan and the 401(k)
Plan. The 1994 amounts include contributions to the Plans for the year
ending September 30, 1994, and the three month period ended December
31, 1994. To accommodate the implementation of a 401(k) Plan in 1995,
the year end for the retirement plans was changed from September 30 to
December 31.
<PAGE>
OTHER COMPENSATION
The Corporation has no defined benefit pension plans. Its two non-
contributory defined contribution plans, a profit sharing plan and an
employee stock ownership plan, are available to all employees who have
completed one year of employment during which they worked 1,000 hours or
more. The Corporation's contribution to the Profit Sharing Plan is based on
10% of earnings before income taxes and the profit sharing contribution. An
additional 5% of the same earnings is contributed to the Employee Stock
Ownership Plan. The Corporation contributes additional shares to the
Employee Stock Ownership Plan as determined by the Board of Directors. The
Corporation's contributions to these two plans are allocated to all
participants on the basis of compensation and the plans do not
discriminate, in scope, terms, or operation, in favor of officers or
directors of the Corporation. Amounts earned for 1996, 1995 and 1994 under
the plans by the CEO and the four most highly compensated executive
officers are listed in the Summary Compensation Table.
Effective January 1, 1995, the Corporation adopted a 401(k) Plan for the
benefit of eligible employees. The 401(k) Plan is a voluntary defined
contribution plan. Employees who have completed one year of employment
during which they worked 1,000 hours or more may contribute up to 6% of
their annual compensation, subject to certain maximum contribution
restrictions. The Corporation may make a discretionary annual matching
contribution to eligible participants of this plan as determined by the
Board of Directors. During 1996 and 1995, the Board of Directors approved
a match of 50% of eligible contributions up to 3% of eligible wages not to
exceed a maximum of $750 per employee. The match, which is made in the
subsequent year, is in the form of common stock of the Corporation.
The Corporation's group health insurance plan is available to full-time
employees and qualified part-time employees and the group life insurance
plan and long-term disability plan are available to full-time employees.
These plans do not discriminate in favor of officers or directors of the
Corporation.
All compensation paid to executive officers during 1996, other than cash
and compensation pursuant to the plans described above, does not exceed the
minimum amounts required to be reported pursuant to the Securities and
Exchange Commission rules.
INTEREST OF MANAGEMENT AND OTHERS IN CERTAIN TRANSACTIONS
The Corporation paid $500,000 in rental payments to George W. Jenkins,
Founder of the Corporation, and his estate for leased equipment and
fixtures for eight stores and paid $100,000 in rental payments to Charles
H. Jenkins, Sr., a former director of the Corporation, for leased equipment
and fixtures for one store. All leases expired in October 1996.
During 1996, the Corporation purchased approximately $1,837,000 of food
products from Alma Food Imports, Inc., a company owned by Julia Jenkins
Fancelli, sister of Howard M. Jenkins. The Corporation also purchased
approximately $5,110,000 of food products from suppliers represented by a
brokerage company partially owned by Byron Brown, son of Bennie F. Brown, a
former Vice President of the Corporation.
During 1996, the Corporation paid approximately $731,000 to the law office
of Hahn, McClurg, Watson, Griffith & Bush for legal services. E.V. McClurg
is a director and continues to provide legal services to the Corporation.
In the opinion of management, the terms of these transactions are no less
favorable than terms that could have been obtained from unaffiliated
parties.
<PAGE>
PERFORMANCE GRAPH
The following performance graph sets forth the Corporation's cumulative
total stockholder return during the five years ended December 28, 1996,
with the cumulative total return on the S&P 500 Index and a custom Peer
Group Index including companies in the same line of business (supermarket
retail companies)(1). The Peer Group Index is weighted based on the various
companies' market capitalization. The comparison assumes $100 was invested
at the end of 1991 in the Corporation's common stock and in each of the
related indices and assumes reinvestment of dividends.
COMPARISON OF FIVE-YEAR CUMULATIVE RETURN
<TABLE>
<CAPTION>
1991 1992 1993 1994 1995 1996
---- ---- ---- ---- ---- ----
<S> <C> <C> <C> <C> <C> <C>
PUBLIX $100.00 124.59 120.00 151.04 179.88 231.31
S&P 500 $100.00 107.62 118.46 120.03 165.13 203.05
PEER GROUP $100.00 98.72 94.64 101.86 131.14 173.24
</TABLE>
(1)Companies included in the peer group are: A&P, Albertsons, American
Stores, Brunos, Food Lion, Giant Foods, Hannaford Bros., Kroger,
Safeway, Smith's Food & Drug, Vons, Weis Markets and Winn-Dixie.
<PAGE>
COMMITTEES
The Board of Directors has not appointed a nominating committee.
The Board's Compensation Committee sets and reviews the salary and benefits
structure of the Corporation with respect to its executive officers.
During 1996, the Compensation Committee consisted of Hoyt R. Barnett,
Chairman, W. Edwin Crenshaw, Charles H. Jenkins, Jr., Howard M. Jenkins and
William H. Vass. During 1996, the Committee held two meetings.
The Board's Audit Committee recommends the independent auditors to be
engaged by the Corporation and reviews with the independent auditors and
the internal auditors the scope and results of their audit work, including
their appraisal of the Corporation's internal accounting controls.
Presently, the Audit Committee consists of Carol J. Barnett, Mark C. Hollis
and E.V. McClurg, Chairman. During 1996, the Committee held two meetings.
BOARD OF DIRECTORS MEETINGS
The Board of Directors held four meetings during 1996. All directors
attended at least 75% of the Corporation's Board of Directors and committee
meetings held in 1996.
RELATIONSHIP WITH INDEPENDENT PUBLIC ACCOUNTANTS
The firm of KPMG Peat Marwick LLP was the Corporation's auditors during
1996. The Audit Committee will make its recommendation as to the
Corporation's auditors for 1997 later this year.
Representatives of KPMG Peat Marwick LLP will be present at the meeting
with an opportunity to make a statement if they desire to do so and will be
available to respond to appropriate questions.
PROPOSALS OF STOCKHOLDERS
Proposals of stockholders intended to be presented at the 1998 Annual
Meeting of Stockholders must be received at the Corporation's executive
offices prior to December 11, 1997, for consideration for inclusion in the
Proxy Statement relating to that meeting.
OTHER MATTERS THAT MAY COME BEFORE THE MEETING
At the date of this Proxy Statement the Board of Directors knows of no
matter other than the matters described herein that will be presented for
consideration at the meeting. However, if any other business shall properly
come before the meeting, all proxies signed and returned by stockholders
will be voted in accordance with the best judgment of the persons voting
the proxies.
By order of the Board of Directors:
/s/ S. Keith Billups
- --------------------
S. Keith Billups
Secretary
Dated: March 4, 1997
The Corporation will provide, without charge, a copy of its annual report
to the Securities and Exchange Commission, Form 10-K, for the fiscal year
ended December 28, 1996, upon the written request of any stockholder of
record or beneficial owner at the close of business on March 4, 1997.
Requests for such reports should be directed to S. Keith Billups, P.O. Box
407, Lakeland, Florida 33802.
<PAGE>
PUBLIX SUPER MARKETS, INC.
PROXY SOLICITED BY THE BOARD OF DIRECTORS FOR THE
ANNUAL MEETING OF STOCKHOLDERS TO BE HELD MAY 13, 1997
The undersigned hereby appoints Howard M. Jenkins, Charles H. Jenkins, Jr.
and W. Edwin Crenshaw or any of them, as proxy or proxies with power of
substitution, to vote all shares of Common Stock of
Publix Super Markets, Inc., which the undersigned is entitled to vote at
the 1997 Annual Meeting of Stockholders, and at any adjournments thereof,
on the following matters:
1. Election of Directors - Carol Jenkins Barnett, Hoyt R. Barnett,
W. Edwin Crenshaw,
Mark C. Hollis, Charles H. Jenkins, Jr., Howard M. Jenkins,
Tina P. Johnson, E. V. McClurg
and William H. Vass.
[ ] FOR all nominees listed above (except as to those nominees whose
names have been crossed out).
[ ] AUTHORITY WITHHELD
2. Other Matters - Unless a line is stricken through this sentence,
the proxies named above may, in their discretion, vote the shares
represented by this proxy card upon such other matters as may
properly come before the Annual Meeting.
The shares represented by this proxy card will be voted only if this proxy
card is properly executed and timely returned. In that event, such shares
will be voted as specified. If no specification is made, the shares will
be voted in favor of items 1 and 2.
The undersigned acknowledges receipt of (1) the Corporation's 1996 Annual
Report to Stockholders and (2) the Corporation's Notice of Annual Meeting
and Proxy Statement dated March 4, 1997 relating to the Annual Meeting. The
undersigned revokes any proxy previously given for the shares represented
by this proxy.
____________________ ________________________________________________________
Date Signature
Signature if held jointly
[ ] If you received an annual report for
this account and request not to,
please mark an (x) in this box.
Stockholders with multiple accounts,
please leave one proxy card unmarked.
[ ] I will attend the meeting.
Note: Your signature should appear as your name appears hereon. For shares
held in joint names, each joint owner should sign. If signing as attorney,
executor, administrator, trustee, guardian or other representative
capacity, please give full title as such.
Please mark, sign, date and promptly return this proxy card using the
enclosed envelope.
<PAGE>
To Participants of Publix Super Markets, Inc.
Employee Stock Ownership Plan (ESOT)
Please See Last Page of Proxy For Voting Instructions
Important
Dated Material
Dear ESOT Participant:
Our records indicate that you have Employee Stock Ownership Plan (ESOT)
shares which have voting rights at the Publix Super Markets, Inc. Annual
Meeting of Stockholders to be held on May 13, 1997.
The Trustee of the ESOT, William H. Vass, is required to exercise the
voting rights on the shares allocated to your ESOT account in accordance
with your instructions. If you indicate "authority withheld" on the last
page of the proxy, William H. Vass, Trustee, will not exercise any voting
rights for your ESOT shares. If you do not provide instructions, William
H. Vass, Trustee, will exercise voting rights for your ESOT shares.
To authorize William H. Vass, Trustee (or his designee), who will attend
the Annual Meeting of Stockholders of Publix Super Markets, Inc. on May 13,
1997, to vote your ESOT shares, promptly sign and date the last page of the
proxy. Remove the page along the perforated line and fold. If you received
this proxy at your Publix location, please return this notice through the
unmetered store mail system. The return address has been pre-printed on the
last page of this notice. If this notice was received at an address other
than a Publix location, please return the notice in the self-addressed
envelope provided.
Thank you,
Plan Administrator
Publix Super Markets, Inc.
Dated: March 4, 1997
<PAGE>
PUBLIX SUPER MARKETS, INC.
REQUEST FOR VOTING INSTRUCTIONS
IN CONNECTION WITH THE
ANNUAL MEETING OF STOCKHOLDERS
TO BE HELD ON MAY 13, 1997
The undersigned, a participant or beneficiary in the Publix Super Markets,
Inc. Employee Stock Ownership Plan (the "ESOT"), with respect to all shares
of Common Stock of Publix Super Markets, Inc. (the "Corporation") allocated
to the ESOT account of the undersigned, the voting rights of which are
accorded to the undersigned under the ESOT (the "Account Shares"), does
hereby request and instruct William H. Vass, Trustee, or the Trustee's
designee, to attend the Annual Meeting of Stockholders of the Corporation
to be held on May 13, 1997 and any adjournments thereof and to vote all the
Account Shares which are entitled to vote at the Annual Meeting, in any
manner and with the same effect as if the undersigned were the record owner
of the Account Shares. The undersigned authorizes and instructs the Trustee
or his designee to vote as follows:
1. Election of Directors - Carol Jenkins Barnett, Hoyt R.
Barnett, W. Edwin Crenshaw, Mark C. Hollis, Charles H. Jenkins, Jr.,
Howard M. Jenkins, Tina P. Johnson, E. V. McClurg and William H. Vass.
[ ] FOR all nominees listed above (except as to those nominees
whose names have been crossed out).
[ ] AUTHORITY WITHHELD
2. Other Matters - Unless a line is stricken through this
sentence, the Trustee (or the Trustee's designee) is directed in such
person's discretion to vote the Account Shares upon such other matters
as may properly come before the Annual Meeting.
The Account Shares will be voted as directed above if this proxy card is
properly executed and timely returned. If no specification is made, or this
proxy card is not returned, the shares will be voted in favor of items 1
and 2.
The undersigned acknowledges receipt of (1) the Corporation's 1996 Annual
Report to Stockholders and (2) the Corporation's Notice of Annual Meeting
and Proxy Statement dated March 4, 1997 relating to the Annual Meeting. The
undersigned revokes any proxy previously given for the Account Shares.
____________________________ ___________________________________________
Date Signature
Note: Your signature should appear as your name appears on the reverse
side. If signing as attorney, executor, administrator, trustee, guardian or
other representative capacity, please give full title as such.
[ ] I will attend the meeting.
(Promptly mark, sign, date, remove from proxy, fold and return either
through the unmetered mail system or in the enclosed envelope.)
Return to:
Retirement Department
Publix Corporate Office
Lakeland
