{"url_path":"/sec/calm/10-k/2026/body","section_key":"body","section_title":"Body","topic":"sec","document":{"doc_type":"10-K","doc_date":"2026-07-22","source_url":"https://www.sec.gov/Archives/edgar/data/16160/0001562762-26-000080-index.html","accession_number":"0001562762-26-000080","cik":"0000016160","ticker":"CALM","issuer_name":"CAL-MAINE FOODS INC","edgar_url":"https://www.sec.gov/Archives/edgar/data/16160/0001562762-26-000080-index.html","primary_entity_key":"0000016160","primary_entity_name":"CAL-MAINE FOODS INC"},"word_count":3191,"has_tables":false,"body_markdown":"EX-19.1\n2\ncalm2024x10kex191.htm\nEX-19.1\n\ncalm2024x10kex191\n\nExhibit\n\n19.1\n\n1\n\nCAL-MAINE\n\nFOODS,\n\nINC.\n\nINSIDER\n\nTRADING\n\nPOLICY AND\n\nRELATED\n\nMATTERS\n\n1.\n\nGeneral Applicability\n\nof Policy\n\nThis Policy applies\n\nto all transactions\n\nin the securities of Cal\n\n-Maine Foods,\n\nInc. and\n\nits direct and\n\nindirect subsidiaries\n\n(collectively,\n\nthe “Company”),\n\nincluding all classes of\n\nstock, options\n\nfor all classes of\n\nstock and\n\nany\n\nother securities the\n\nCompany\n\nmay\n\nissue from time\n\nto time, such\n\nas preferred\n\nstock, restricted\n\nstock, restricted\n\nstock units,\n\nwarrants\n\nand\n\nconvertible\n\ndebentures,\n\nas well as to\n\nderivative\n\nsecurities relating\n\nto the\n\nCompany’s\n\nstock, whether\n\nor not issued by\n\nthe Company,\n\nsuch as\n\nexchang\n\ne-traded\n\noptions\n\n(“Company’s\n\nsecurities”).\n\nExcept\n\nas otherwise stated\n\nbelow, the\n\nPolicy applies to such\n\nsecurities\n\nregardless of\n\nwhether they\n\nare held in a\n\nbrokerage\n\naccount,\n\na KSOP or similar account,\n\nthrough an\n\nemployee\n\nstock purchase\n\nplan\n\nor otherwise. Transactions\n\nsubject\n\nto this Policy include purchases,\n\nsales and\n\ngifts. The Policy also applies\n\nto transactions\n\nin the\n\nsecurities of\n\nother companies\n\nin certain circumstances\n\nas set forth\n\nbelow. The Policy applies\n\nto all officers\n\nof the\n\nCompany,\n\nall member\n\ns\n\nof the\n\nCompany’s\n\nBoard\n\nof Directors, and\n\nall employees\n\nof, and\n\nconsultants\n\nand\n\ncontractors\n\nto, the\n\nCompany.\n\nThis group of people,\n\nand\n\nmembers\n\nof their immediate\n\nfamilies, members\n\nof their households,\n\nand\n\ntheir controlled\n\nentities, are\n\nreferred to in\n\nthis Policy\n\nas “Insiders.”\n\nFor purposes\n\nof this Policy,\n\n“immediate\n\nfamily” means\n\nany family\n\nmembers whose\n\ntransactions\n\nin the Company’s\n\nsecurities are\n\ndirected by\n\nan\n\nInsider or subject\n\nto an\n\nInsider’s influence\n\nor control, and\n\n“controlled entities”\n\nmeans\n\nany\n\nentity when\n\ntransactions\n\nin the Company’s\n\nsecurities by the entity\n\nare directed\n\nby an\n\nInsider or subject\n\nto an\n\nInsider’s influence\n\nor control.\n\nInsiders\n\nare responsible\n\nfor transactions\n\nin the Company’s\n\nsecurities of immediate\n\nfamily,\n\nmembers\n\nof their households\n\nand\n\nof\n\ntheir controlled\n\nentities and\n\ntherefore\n\nshould make\n\nthem\n\naware\n\nof the\n\nneed to\n\nconfer\n\nwith the Insider before\n\ntransacting\n\nin the\n\nCompany’s\n\nsecurities.\n\nIn addition\n\nto the\n\nrequirements\n\nof this Policy for all Insiders,\n\nthis Policy\n\ncontains\n\nadditional\n\nrequirements\n\nfor the\n\nnamed\n\nindividuals\n\nand\n\nindividuals holding certain\n\npositions who are\n\nnotified by\n\nthe Company\n\nof such\n\nadditional\n\nrequirements\n\nas\n\ndescribed further\n\nbelow.\n\n2.\n\nStatement\n\nof Policy\n\n2.1.\n\nTransacting\n\non Material\n\nNonpublic Information.\n\nNo Insider\n\nshall engage\n\nin any\n\ntransaction\n\ninvolving a\n\npurchase,\n\nsale or gift of the\n\nCompany’s\n\nsecurities, including any\n\noffer\n\nto purchase\n\nor offer\n\nto sell, during any period\n\ncommencing\n\nwith the date\n\nthat\n\nhe or she possesses\n\nor is aware of\n\nMaterial\n\nNonpublic\n\nInformation\n\n(defined\n\nbelow) concerning\n\nthe Company,\n\nand\n\nending at\n\nthe time\n\nthe information\n\nhas\n\nbeen publicly\n\ndisclosed for one\n\nfull Trading D\n\nay\n\n, or at such\n\ntime as\n\nsuch nonpublic\n\ninformation\n\nis no longer material.\n\nAs used herein,\n\nthe term\n\n“Trading Day”\n\nshall mean\n\na day\n\non which national\n\nstock exchanges\n\nand\n\nthe Nasdaq\n\nStock Market\n\n(“Nasdaq”)\n\nare open\n\nfor trading.\n\nThis restriction on transacting\n\ndoes not\n\napply\n\nto transactions\n\nmade\n\nunder a\n\nplan\n\nadopted\n\npursuant\n\nto Securities and\n\nExchange\n\nCommission\n\n(“SEC”) Rule 10b5\n\n-1(c) (17\n\nC.F.R.\n\n§ 240.10b5\n\n-1(c)) (“Rule 10b5-1(c)”) and\n\napproved\n\nin writing by the Company\n\n(an “approved\n\nRule 10b5\n\n-1 plan”).\n\n2.2.\n\nTipping.\n\nNo Insider\n\nshall disclose\n\n(“tip”) Material\n\nNonpublic Information\n\nto any\n\nother\n\nperson (including\n\nfamily\n\nmembers\n\nand\n\nother employees)\n\nnor shall such\n\nInsider make\n\nrecommendations\n\nor express opinions\n\non the\n\nbasis of\n\nMaterial\n\nNonpublic Information\n\nas to\n\ntransactions\n\nin the Company’s\n\nsecurities.\n\n2.3.\n\nConfidentiality\n\nof Nonpublic\n\nInformation.\n\nNonpublic\n\nInformation\n\nrelating to the\n\nCompany\n\nis the property\n\nof the Company\n\nand the unauthorized\n\ndisclosure of such\n\ninformation\n\nis forbidden.\n\nIn the event\n\nany\n\nInsider receives any\n\ninquiry\n\nfrom outside\n\nthe Company,\n\nsuch as\n\nfrom\n\na stock\n\nanalyst,\n\nfor information\n\n(particularly\n\nfinancial\n\nresults and/or\n\nprojections)\n\nthat\n\nmay\n\ninvolve Material\n\nNonpublic Information,\n\nthe inquiry should\n\nbe referred to\n\nthe Company’s\n\nDisclosure Committee\n\nwhich is\n\nresponsible\n\nfor coordinating\n\nand\n\noverseeing the release\n\nof such\n\ninformation\n\nto the\n\npublic, shareholders,\n\nanalysts\n\nand\n\nothers in\n\ncompliance\n\nwith applicable\n\nlaws and\n\nregulations.\n\n2.4.\n\nApplicability\n\nof Policy\n\nto Material Nonpublic\n\nInformation\n\nRegarding Other\n\nCompanies.\n\nThis Policy\n\nalso applies\n\nto Material\n\nNonpublic Information\n\nrelating to other\n\ncompanies\n\n(a) with which the Company\n\ndoes business\n\nor (b)\n\nthat are\n\ninvolved in a\n\npotential\n\ntransaction\n\nor business relationship\n\nwith the Company,\n\nwhen that\n\ninformation\n\nis obtained\n\nin the\n\ncourse of\n\nemployment\n\nwith, or the performance\n\nof services to\n\nor on behalf\n\nof, the\n\nCompany.\n\nCivil and criminal penalties,\n\nand\n\ntermination\n\nof employment,\n\nmay\n\nresult from\n\ntransacting\n\non or “tipping” Material\n\nNonpublic Information\n\nregarding such other\n\ncompanies.\n\nAll officers, directors,\n\nemployees,\n\nconsultants\n\nand\n\ncontractors\n\nshould treat\n\nMaterial\n\nNonpublic Information\n\nabout\n\nsuch other\n\ncompanies\n\nwith the same\n\ncare required\n\nwith respect to information\n\nrelated\n\ndirectly to the\n\nCompany.\n\nExhibit\n\n19.1\n\n2\n\n2.5.\n\nApplication\n\nto the\n\nCompany\n\n.\n\nIt is the\n\npolicy of the\n\nCompany\n\nthat\n\nthe Company\n\nwill\n\nnot engage\n\nin\n\ntransactions\n\nin the Company’s\n\nsecurities in violation of\n\napplicable\n\nsecurities laws.\n\n3.\n\nPotential Criminal\n\nand Civil\n\nLiability\n\nand/or Disciplinary\n\nAction\n\n3.1.\n\nLiability\n\nfor Insider Trading.\n\nPursuant\n\nto federal\n\nand\n\nstate\n\nsecurities laws, Insiders may\n\nbe subject\n\nto\n\ncriminal\n\nand civil fines\n\nand penalties\n\nas well as imprisonment\n\nfor engaging\n\nin transactions\n\nin\n\nthe Company’s\n\nsecurities at a\n\ntime\n\nwhen they\n\nhave\n\nknowledge of\n\nMaterial\n\nNonpublic Information\n\nregarding the Company\n\nand\n\nfor engaging in transactions\n\nin\n\nanother\n\ncompany’s\n\nsecurities when they\n\nhave\n\nknowledge of\n\nMaterial\n\nNonpublic Information\n\nregarding such other\n\ncompany\n\ngained through\n\ntheir service\n\nto or on behalf\n\nof the\n\nCompany.\n\n3.2.\n\nLiability\n\nfor Tipping.\n\nInsiders may\n\nalso be liable for\n\nimproper transactions\n\nby any\n\nperson (commonly\n\nreferred\n\nto as\n\na “tippee”)\n\nto whom\n\nthey\n\nhave\n\ndisclosed Material\n\nNonpublic Information\n\nregarding the Company\n\nor regarding\n\nanother\n\ncompany\n\ngained through their service to\n\nor on behalf\n\nof the Company,\n\nor to\n\nwhom they\n\nhave made\n\nrecommendations\n\nor\n\nexpressed\n\nopinions on\n\nthe basis\n\nof such\n\ninformation\n\nas to\n\ntransacting\n\nin the Company’s\n\nor such other\n\ncompany’s\n\nsecurities.\n\nCriminal\n\nand\n\ncivil\n\nfines\n\nand\n\npenalties\n\nand\n\nimprisonment\n\nhave\n\nbeen\n\nimposed\n\neven when\n\nthe disclosing person did not\n\nprofit\n\nfrom\n\nthe transaction.\n\nThe stock\n\nexchanges\n\nand\n\nsecurities regulatory authorities\n\nuse sophisticated\n\nelectronic surveillance\n\ntechniques\n\nto uncover\n\ninsider trading.\n\n3.3.\n\nPossible Disciplinary\n\nActions.\n\nEmployees\n\nof the\n\nCompany\n\nwho violate\n\nthis Policy shall also be\n\nsubject\n\nto\n\ndisciplinary\n\naction\n\nby the\n\nCompany,\n\nwhich may\n\ninclude ineligibility\n\nfor future\n\nparticipation\n\nin the Company’s\n\nequity incentive\n\nplans or termination\n\nof employment.\n\n4.\n\nTransaction\n\nGuidelines\n\nand Requirements\n\n4.1.\n\nBlack-Out\n\nPeriods and\n\nTransaction\n\nWindow.\n\n(a)\n\nQuarterly Black\n\n-Out Period.\n\nThe period\n\nbeginning at\n\nthe close of\n\nmarket\n\non the\n\nlast Trading\n\nDay\n\npreceding\n\nthe last\n\nweek of each\n\nfiscal quarter\n\nand\n\nending at\n\nthe time\n\nthe financial\n\nresults for that\n\nquarter\n\nhave\n\nbeen publicly\n\ndisclosed\n\nfor one\n\nfull Trading\n\nDay\n\nis a particularly\n\nsensitive period of\n\ntime for transactions\n\nin the Company’s\n\nstock from\n\nthe\n\nperspective\n\nof compliance\n\nwith applicable\n\nsecurities laws.\n\nThis sensitivity\n\nis due to\n\nthe fact\n\nthat\n\nthere often\n\nexists Material\n\nNonpublic\n\nInformation\n\nabout\n\nthe exp\n\nected financial\n\nresults for the quarter\n\nduring that\n\nperiod.\n\nAccordingly, this period of\n\ntime\n\nis referred\n\nto as a “quarterly\n\nblack\n\n-out” period.\n\nAll Insiders who\n\nhave been\n\nnotified that\n\nthey\n\nare subject\n\nto the\n\nquarterly\n\nblack-\n\nout period\n\nare prohibited\n\nfrom\n\ntransacting\n\nduring such period.\n\nThese restrictions\n\non transactions\n\ndo not\n\napply\n\nto transactions\n\nmade\n\nunder an\n\napproved\n\nRule 10b5\n\n-1 plan.\n\n(b)\n\nMandatory\n\nTransaction\n\nWindow.\n\nTo ensure\n\ncompliance\n\nwith this Policy and applicable\n\nfederal\n\nand\n\nstate\n\nsecurities laws, the\n\nCompany\n\nrequires that\n\nall individuals who have\n\nbeen notified\n\nthat\n\nthey\n\nare subject\n\nto the\n\nquarterly\n\nblack\n\n-out periods refrain\n\nfrom\n\nconducting\n\ntransactions\n\ninvolving the purchase,\n\nsale or gift of the\n\nCompany’s\n\nsecurities other\n\nthan\n\nduring the period (the\n\n“transaction\n\nwindow”) commencing\n\nat\n\nthe\n\ntime the\n\nfinancial\n\nresults for the preceding\n\nfiscal quarter\n\nor year\n\nhave\n\nbeen publicly\n\ndisclosed for one\n\nfull Trading\n\nDay\n\nand\n\ncontinuing until the\n\nclose of the\n\nmarket\n\non the\n\nlast Trading\n\nDay preceding\n\nthe last\n\nweek of the\n\nthen\n\nfiscal quarter.\n\nThis restriction on\n\ntransactions\n\ndoes not\n\napply\n\nto transactions\n\nmade\n\nunder an\n\napproved\n\nRule 10b5\n\n-1 plan.\n\n(c)\n\nEvent-Specific\n\nBlack-Out Period.\n\nFrom\n\ntime to time,\n\nthe Company\n\nmay\n\nalso prohibit\n\ndirectors,\n\nofficers and\n\npotentially a\n\nlarger group of\n\nemployees, consultants\n\nand\n\ncontractors\n\nfrom\n\ntransacting\n\nin securities of the Company\n\nbecause\n\nof material\n\ndevelopments\n\nknown\n\nto the\n\nCompany\n\nand\n\nnot yet\n\ndisclosed to the\n\npublic.\n\nIn such\n\nevent,\n\ndirectors, officers\n\nand\n\nsuch employees,\n\nconsultants\n\nand\n\ncontractors\n\nmay\n\nnot engage\n\nin any\n\ntransaction\n\ninvolving the purchase,\n\nsale or gift of the\n\nCompany’s\n\nsecurities and\n\nshould not\n\ndisclose to others\n\nthe fact\n\nof such\n\nevent\n\n-specific black\n\n-out period.\n\nThis restriction does\n\nnot apply to\n\ntransactions\n\nmade\n\nunder an approved\n\nRule 10b5 plan.\n\nThe Company\n\nwould re-open the\n\ntransaction\n\nwindow at the\n\ntime the\n\ninformation\n\nhas\n\nbeen publicly\n\ndisclosed for one\n\nfull Trading Day,\n\nor at such\n\ntime as\n\nthe information\n\nis no longer\n\nmaterial.\n\nThe prohibition\n\nagainst\n\ntransacting\n\nduring a quarterly\n\nor event\n\n-specific black\n\n-out period\n\nencompasses\n\nthe fulfillment\n\nof “limit\n\norders”\n\nby any\n\nbroker, and\n\nthe brokers\n\nwith whom any\n\nsuch limit order is placed\n\nmust\n\nbe so instructed\n\nat\n\nthe time\n\nit is\n\nplace\n\nd.\n\nIt should\n\nbe noted\n\nthat\n\neven during the\n\ntransaction\n\nwindow, any\n\nperson possessing Material\n\nNonpublic Information\n\nconcerning\n\nthe Company,\n\nwhether or not\n\nsubject\n\nto the\n\nquarterly\n\nblack\n\n-out period\n\nand\n\ntransaction\n\nwindow, should\n\nnot engage\n\nin any\n\ntransactions\n\nin the Company’s\n\nsecurities until such information\n\nhas\n\nbeen known\n\npublicly for one\n\nfull Trading Day\n\n,\n\nwhether or\n\nnot the Company\n\nhas recommended\n\na suspension\n\nof transactions\n\nto that\n\nperson.\n\nThis restriction does not\n\napply\n\nto transactions\n\nExhibit\n\n19.1\n\n3\n\nmade\n\nunder an\n\napproved\n\nRule 10b5\n\n-1 plan.\n\nTransacting\n\nin the company’s securities\n\nduring the transaction\n\nwindow should\n\nnot be\n\nconsidered a “safe\n\nharbor,”\n\nand all\n\nInsiders should\n\nuse good\n\njudgment at all\n\ntimes.\n\n4.2.\n\nPre-Clearance\n\nof Transactions.\n\nThe Company\n\nhas\n\ndetermined\n\nthat\n\nall executive\n\nofficers and\n\ndirectors of\n\nthe Company\n\nand certain other key persons\n\nidentified\n\nby the Company\n\nfrom\n\ntime to time\n\nand\n\nwho have\n\nbeen notified\n\nthat\n\nthey\n\nhave\n\nbeen so\n\nidentified must\n\nrefrain from\n\ntransacting\n\nin the Company’s\n\nsecurities, even during the transaction\n\nwindow, without\n\nfirst complying\n\nwith the\n\nCompany’s\n\n“pre-clearance”\n\nprocess.\n\nEach such\n\nperson should\n\ncontact\n\nthe Company’s\n\nChief Financial\n\nOfficer\n\nprior to commencing\n\nany transaction\n\nin the Company’s\n\nsecurities.\n\nThe Chief\n\nFinancial\n\nOfficer will consult as necessary\n\nwith senior\n\nmanagement\n\nand/or counsel to the Company\n\nbefore clearing any\n\nproposed\n\ntransaction.\n\nAlthough an\n\nInsider wishing\n\nto transact\n\npursuant\n\nto an\n\napproved\n\nRule 10b5\n\n-1 plan need\n\nnot seek\n\npreclearance\n\nfrom\n\nthe Company’s\n\nChief Financial\n\nOfficer\n\nbefore each\n\ntransaction\n\ntakes place, such\n\nan\n\ninsider must obtain\n\nComp\n\nany\n\napproval\n\nof the\n\nproposed\n\nRule 10b5\n\n-1 plan before\n\nit\n\nis adopted\n\n.\n\n4.3.\n\nIndividual\n\nResponsibility.\n\nEvery\n\nInsider has\n\nthe individual\n\nresponsibility to\n\ncomply\n\nwith this Policy against\n\ninsider\n\ntrading.\n\nAn Insider\n\nmay,\n\nfrom\n\ntime to time,\n\nhave\n\nto forego\n\na proposed\n\ntransaction\n\nin the Company’s\n\nsecurities even i\n\nf\n\nhe or she planned\n\nto make\n\nthe transaction\n\nbefore\n\nlearning of the\n\nMaterial\n\nNonpublic Information\n\nand\n\neven though\n\nthe Insider\n\nbelieves he\n\nor she\n\nmay\n\nsuffer\n\nan\n\neconomic\n\nloss or forego anticipated\n\nprofit by\n\nwaiting.\n\n5.\n\nDefinition of\n\nMaterial\n\nNonpublic Information\n\nInformation\n\nis\n\n“material”\n\nif there\n\nis a substantial\n\nlikelihood that\n\na reasonable\n\ninvestor would consider\n\nthe information\n\nimportant\n\nin deciding\n\nwhether to\n\npurchase,\n\nsell or hold a security,\n\nor if there\n\nis a substantial\n\nlikelihood that\n\nthe information\n\nwould be\n\nviewed by\n\na reasonable\n\ninvestor as\n\nsignificantly altering the\n\ntotal\n\nmix of\n\npublicly available\n\ninformation\n\nabout\n\nthe Company.\n\nAny information\n\nthat\n\ncould reasonably\n\nbe expected\n\nto affect\n\nthe market\n\nprice of a\n\nsecurity is likely to be considered\n\nmaterial.\n\nThis determination\n\nis made\n\nbased\n\non the\n\nfacts\n\nand\n\ncircumstances\n\nof each\n\nparticular\n\nsituation\n\nand\n\nis often evaluated\n\nby\n\nenforcement\n\npersonnel with the\n\nbenefit\n\nof hindsight.\n\nThere are various\n\ncategories of\n\ninformation\n\nthat\n\nare particularly\n\nsensitive and,\n\nas a\n\ngeneral rule, should be\n\nconsidered\n\nmaterial.\n\nExamples\n\nof such\n\ninformation\n\ninclude:\n\n●\n\nFinancial\n\nresults\n\n●\n\nKnown\n\nbut unannounced\n\nfuture\n\nearnings or losses\n\n●\n\nNews of\n\na pending\n\nor proposed\n\nmerger, or acquisition\n\n●\n\nNews of\n\nthe disposition\n\nor acquisition\n\nof significant\n\nassets\n\nor opening or\n\nclosing of\n\na significant\n\nbusiness\n\noperation\n\n●\n\nSignificant\n\ndevelopments\n\nrelated\n\nto intellectual\n\nproperty\n\n●\n\nSignificant\n\ndevelopments\n\ninvolving corporate\n\nrelationships\n\n●\n\nChanges\n\nin dividend policy\n\n●\n\nStock splits\n\n●\n\nNew equity\n\nor debt offerings\n\n●\n\nSignificant\n\nlitigation exposure\n\ndue to\n\nactual\n\nor threatened\n\nlitigation\n\n●\n\nSignificant\n\ncybersecurity\n\nincidents\n\nEither positive\n\nor negative\n\ninformation\n\nmay\n\nbe material.\n\nThe above\n\nlist is\n\nnot exclusive\n\nand\n\nmany\n\nother types\n\nof information\n\nmay\n\nbe considered\n\nmaterial,\n\ndepending\n\non the\n\ncircumstances.\n\nThe probability\n\nof whether\n\nan\n\nevent\n\nwill\n\nor will\n\nnot occur,\n\nalong\n\nwith the\n\nmagnitude\n\nof the\n\npotential\n\nevent,\n\naffects\n\nthe determination\n\nof whether\n\nit is\n\nmateria\n\nl.\n\nNonpublic\n\ninformation\n\nis information\n\nthat has\n\nnot been\n\npreviously disclosed to\n\nthe general\n\npublic and\n\nis otherwise not available\n\nto the\n\ngeneral public.\n\nFor information\n\nto be considered\n\npublic, it must be\n\nwidely disseminated\n\nin a manner\n\nmaking\n\nit generally\n\nExhibit\n\n19.1\n\n4\n\navailable\n\nto investors, including\n\nthrough the\n\nissuance\n\nof a\n\npress release or a\n\nfiling\n\nwith\n\nthe SEC. In\n\naddition,\n\neven after\n\na\n\npublic\n\nannouncement\n\nof material\n\ninformation,\n\na reasonable\n\nperiod of\n\ntime must\n\nelapse in order for\n\nthe market\n\nto absorb\n\nand\n\nreact\n\nto\n\nthe information.\n\nGenerally, Insiders\n\nshould not\n\nengage in any\n\ntransactions\n\nin the Company’s\n\nsecurities until such information\n\nhas\n\nbeen known\n\npublicly for at\n\nleast one\n\nfull Trading Day.\n\nInsiders\n\nwith questions\n\nconcerning whether\n\nparticular\n\ninformation\n\nis Material Nonpublic\n\nInformation\n\nmay\n\nconsult with their\n\nsupervisor\n\nor the Company’s\n\ngeneral counsel.\n\n6.\n\nExceptions\n\nto this Policy\n\nFor purposes\n\nof this Policy,\n\nthe Company\n\nconsiders that\n\nthe exercise of\n\nstock options\n\nor similar equity awards\n\nfor cash\n\nunder\n\nany\n\nCompany\n\nequity incentive\n\nplan, the\n\nuse of\n\nshares delivered\n\nor withheld from\n\nthe exercise to\n\ncover the\n\ncost of\n\nthe option\n\nexercise or to\n\ncover the\n\nsatisfaction\n\nof tax\n\nwithholding obligations, and\n\nthe purchase\n\nof shares\n\npursuant\n\nto any\n\nCompany\n\nemployee\n\nstock purchase\n\nplan\n\n(but not\n\nthe sale\n\nor gift of any\n\nshares issued\n\nupon\n\nsuch exercise or purchase,\n\nnot a\n\ncashless\n\nexercise (accomplished\n\nby a sale of\n\na portion of the\n\nshares issued\n\nupon exercise\n\nof an\n\noption), and\n\nnot any\n\nother market\n\nsale for\n\nthe purpose\n\nof generating\n\ncash\n\nto pay\n\nthe exercise price or taxes)\n\nare exempt\n\nfrom\n\nthis Policy.\n\nThe transaction\n\nrestrictions under this Policy\n\ndo not\n\napply\n\nto the\n\ngrant or award\n\nof options,\n\nrestricted stock,\n\nrestricted stock\n\nunits or\n\nstock application\n\nrights by the Company.\n\nThe transaction\n\nrestrictions under this Policy do\n\nnot apply\n\nto the\n\nvesting,\n\ncancellation\n\nor forfeiture\n\nof stock\n\noptions, restricted\n\nstock, restricted\n\nstock units\n\nor stock appreciation\n\nrights in accordance\n\nwith\n\nthe applicable\n\nplans and\n\nagreements.\n\nHowever,\n\nthe transaction\n\nrestrictions do apply\n\nto any\n\nsubsequent\n\ntransactions\n\nin such\n\nsecurities\n\nand\n\nto any\n\nsale or gift of Company\n\nsecurities received upon\n\nthe settlement\n\nof any\n\nrestricted stock\n\nunit or similar\n\naward.\n\nThe Company\n\nmay\n\nwithhold shares\n\nto cover\n\ntaxes\n\ndue upon\n\nvesting.\n\nThe Policy\n\ndoes not\n\napply\n\nto the\n\npurchase\n\nof Company\n\nstock in the\n\nCompany’s\n\nKSOP\n\nresulting from periodic contributions\n\nof\n\nmoney\n\nto the\n\nplan\n\npursuant\n\nto payroll\n\ndeduction\n\nelections.\n\nThe Policy does\n\napply\n\nto certain\n\nelections that\n\nmay\n\nbe made\n\nunder\n\nthe KSOP,\n\nincluding\n\n(a) an\n\nelection to increase\n\nor decrease\n\nthe percentage\n\nof periodic contributions\n\nto the\n\nKSOP\n\nbased\n\non the\n\npayroll contribution\n\nelection that\n\nwill be allocated\n\nto Company\n\nstock;\n\n(b) an election\n\nto make\n\nan\n\nintra-plan\n\ntransfer\n\nof an\n\nexisting\n\naccount\n\nbalance\n\ninto or out\n\nof Company\n\nstock;\n\n(c) an election\n\nto borrow against\n\na KSOP account\n\nif the loan\n\nwill\n\nresult\n\nin liquidation\n\nof stock in the\n\nCompany\n\nStock Accounts;\n\nand\n\n(d) an election\n\nto prepay\n\na KSOP loan if the\n\nprepayment\n\nwill\n\nresult\n\nin the\n\nallocation\n\nof the\n\nloan\n\nproceeds\n\nto any\n\nCompany\n\nStock Accounts.\n\nAny purchase\n\nof the\n\nCompany’s\n\nsecurities from the\n\nCompany\n\nor sales of the\n\nCompany’s\n\nsecurities to the Company\n\nare not\n\nsubject\n\nto this Policy.\n\nTransactions\n\nmade\n\npursuant\n\nto and\n\nin compliance\n\nwith an approved\n\nRule 10b5\n\n-1 plan are\n\nnot subject\n\nto the\n\ntransaction\n\nrestrictions\n\nin this Policy.\n\n7.\n\nSpecial Situations\n\n7.1.\n\nSection 16\n\nand Rule 144\n\nRestrictions and\n\nReporting\n\nfor Directors\n\nand Certain\n\nOfficers.\n\nSection 16\n\nof\n\nthe Securities\n\nExchange\n\nAct of 1934,\n\nas amended\n\n(“Section 16”), and\n\nRule 144\n\nunder the\n\nSecurities Act of 1933,\n\nas amended\n\n(“Rule 144”)\n\nimpose additional\n\ntransaction\n\nrestrictions and\n\nreporting obligations on\n\ndirectors, certain\n\nofficers and\n\ncertain\n\nprincipal\n\nstockholders.\n\nThe Company\n\nwill\n\nnotify\n\nits directors and\n\nofficers subject\n\nto these\n\nadditional\n\nrestrictions and\n\nreporting\n\nrequirements\n\nand\n\nprovide additional\n\ninformation\n\nregarding compliance.\n\nSome transactions\n\nthat\n\nare not\n\nsubject\n\nto restrictions under\n\nthis Policy may\n\nnevertheless\n\nbe subject\n\nto Section\n\n16 and\n\nRule 144,\n\nso in addition\n\nto this Policy,\n\ndirectors and\n\nnotified officers\n\nshould consult the\n\nadditional\n\ninformation\n\nprovided\n\nby the\n\nComp\n\nan\n\ny\n\nbefore\n\ntransacting\n\nin the Company’s\n\nsecurities.\n\n7.2.\n\nShort Sales.\n\nWhile employees\n\nwho are not\n\nexecutive\n\nofficers and\n\ndirectors are not\n\nprohibited by\n\nlaw from\n\nengaging in\n\nshort sales of\n\nthe Company’s\n\nsecurities, the Company\n\nbelieves it is inappropriate\n\nfor employees\n\nto engage\n\nin such\n\ntransactions\n\nand\n\ntherefore\n\nstrongly discourages\n\nall employees\n\nfrom\n\nsuch activity.\n\n7.3.\n\nHedging\n\nand Other Derivative\n\nTransactions\n\n.\n\nHedging\n\nor monetization\n\ntransactions\n\ncan\n\nbe accomplished\n\nthrough a number\n\nof possible\n\nmechanisms,\n\nincluding through\n\nthe use of financial\n\ninstruments\n\nsuch as prepaid\n\nvariable forwards,\n\nequity swaps,\n\npublicly traded\n\noptions,\n\ncollars and\n\nexchange\n\nfunds. Such transactions\n\nmay\n\npermit a\n\ndirector, officer\n\nor employee\n\nto continue\n\nto own Company\n\nsecurities obtained\n\nthrough employee\n\nbenefit\n\nplans or otherwise, but\n\nwithout the\n\nfull risks and\n\nrewards\n\nof ownership. When\n\nthat\n\noccurs, the\n\ndirector, officer\n\nor employee\n\nmay\n\nno longer have\n\nthe same\n\nobjectives\n\nas the\n\nCompany’s\n\nother stockholders.\n\nTherefore, Insiders\n\nare prohibited\n\nfrom\n\nengaging in any\n\nsuch transactions.\n\nExhibit\n\n19.1\n\n5\n\n7.4.\n\nMargin Accounts\n\nand Pledging\n\nTransactions\n\n.\n\nSecurities\n\nheld in a\n\nmargin account\n\nas collateral\n\nfor a\n\nmargin loan\n\nmay\n\nbe sold by the\n\nbroker without\n\nthe customer’s\n\nconsent\n\nif the customer\n\nfails to meet\n\na margin\n\ncall. Securities\n\npledged\n\nas collateral\n\nfor a\n\nloan\n\nmay\n\nbe sold in foreclosure\n\nif the borrower defaults\n\non the\n\nloan. Because\n\na margin\n\nsale or\n\nforeclosure sale\n\nmay\n\noccur at a\n\ntime when the\n\npledgor is aware of\n\nMaterial\n\nNonpublic Information\n\nor otherwise is not permitted\n\nto transact\n\nin the Company’s\n\nsecurities, persons subject\n\nto this Policy are prohi\n\nbited from\n\nholding the Company’s\n\nsecurities in a\n\nmargin account\n\nor otherwise pledging\n\nthe Company’s\n\nsecurities as collateral\n\nfor a loan,\n\nexcept\n\n(1) for those\n\nCompany\n\nsecurities\n\nheld in a\n\nmargin account\n\nor otherwise pledged as\n\ncollateral\n\nfor a\n\nloan\n\nas of\n\nJuly 23, 2024\n\nand\n\n(2) pledges of the\n\nCompany’s\n\nsecurities\n\nas collateral\n\nfor a\n\nloan\n\n(not including margin\n\ndebt) when\n\nthe person\n\ndemonstrates\n\nto the\n\nCompany\n\nthe financial\n\ncapacity\n\nto repay\n\nthe loan\n\nwithout resorting to the\n\npledged securities, with the prior approval\n\nof the\n\nCompany.\n\n8.\n\nAdoption\n\nand Amendment\n\nThis Policy was\n\nadopted\n\nby the Board of\n\nDirectors of Cal\n\n-Maine Foods,\n\nInc. effective\n\nMarch\n\n31,\n\n2026\n\nand\n\nsupersedes\n\nprevious\n\nversions\n\nof the\n\npolicy.\n\nThis Policy\n\nmay\n\nbe amended\n\nfrom\n\ntime to time\n\nin the discretion\n\nof the\n\nCompany."}