SEC Form 11-K filed by Deere & Company

from conduit individual retirement accounts and qualified plans of former employers. The Company provides matching contributions to employees participating in the Plan up to a maximum of six percent of the employee’s earnings, as limited by the IRC. The matching contributions are 300 percent for the first two percent and 100 percent for the next four percent contributed by the employee. The matching contributions are 90 percent up to the maximum six percent of the employee’s earnings for Greeneville wage employees and 240 percent for the first two percent and 80 percent for the next four percent contributed by the employee for Sunbelt/A&I wage employees. The matching contributions are 60 percent up to the maximum of 6 percent of the employee’s earnings for Monosem employees. Contributions are sent to Fidelity as soon as practicable following each payroll period and are invested by Fidelity in funds as specified by the participants. Funds will be held and invested by Fidelity in a BlackRock Lifepath Index Fund closest to the employee’s 65th birthday (the default investment option) until designated investments have been elected by the participant.

All contributions are considered tax deferred under section 401(a) of the IRC, with the exception of Roth elective deferrals, which are made on an after-tax basis.

The Plan has the following options based on hire date:

Participant Accounts

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Forfeited Accounts

Company contributions forfeited by nonvested participants are applied to offset administrative expenses or reduce Company contributions. At October 31, 2025 and 2024, forfeited nonvested accounts totaled $2,617 and $652, respectively. During the year ended October 31, 2025, Company contributions were reduced by $900 from forfeited nonvested accounts.

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Fund Elections

Participants in the Plan direct the investment of their account balances into one or more investment funds, which include the following as of October 31, 2025:

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*Participants may not invest more than 20 percent of their future contributions in the Deere & Company Common Stock Fund or make an exchange into the Deere & Company Common Stock Fund that would result in the participant’s Deere & Company Common Stock Fund holdings exceeding 20 percent of their holdings after the exchange. This fund includes a dividend payout feature whereby participants may elect to receive dividends in their vested shares of Company common stock in either cash or as a reinvestment in Company common stock. If no election is made, the default option is reinvestment in Company common stock.

In addition, participants have access to Fidelity BrokerageLink, which is a self-directed brokerage account. Through this account, a participant has access to several thousand open-ended mutual funds from a variety of fund families.

Loans

Employees who participate in the Plan are eligible to borrow against their account balances. Loans must be at least $1,000 and are limited to the lesser of $50,000 (reduced by the participant’s highest outstanding loan balance during the immediately preceding one year period) or 50 percent of their vested account balances on the effective dates of the loans, and the term of the loan may not exceed five years (ten years if the loan proceeds are used to purchase a primary residence). The loans are secured by the balance in the participant’s account and interest is assessed at a rate which is determined based on the published prime interest rate. Repayment for actively employed participants is intended to be made via payroll deductions. A participant with an outstanding loan at the time of unpaid leave of absence, retirement, or separation from service may opt to continue making loan payments through the financial institution of their choice, which sends payments to Fidelity via Automated Clearing House transfers. A minimum of one payment must be made each quarter (equal to all payments due for the quarter) to keep the loan current. The entire loan must be repaid within five years of the effective date of the loan, unless the loan proceeds were used to purchase a primary residence, or the original loan term, whichever is less. Failure by the participant to make a quarterly payment or pay the loan off within five years of inception or the original loan term, whichever is less, will result in the outstanding loan balance becoming a taxable distribution to the participant. If an eligible participant elects to take full distribution of his account balance and a loan balance remains, the entire loan balance remaining will be taxable. The loans bear interest ranging from 4.25 percent to 10.50 percent.

Payment of Benefits

Distributions while the participants are employed by the Company may be subject to an IRS-imposed penalty unless the distribution meets certain legal requirements, or the participant has reached age 59-1/2. Participants who have terminated employment with the Company or retired may elect an immediate single lump-sum distribution or elect to receive periodic withdrawals. Retired and separated participants with vested balances of $1,000 or less are required to take full distribution of their account. Participants also have the option to leave their vested account balances in the Plan, subject to certain limitations and required minimum distribution rules. The beneficiary of a

participant who died may elect a deferred distribution payable no later than five years after the participant’s death. Distributions from the Deere & Company Common Stock Fund may be in cash or whole shares and residual cash. Distributions from all other funds are in cash.

Employees are subject to federal income taxes on the pre-tax distributions from their accounts in the calendar year in which such distributions are received from Fidelity.

Hardship Withdrawals

Participants in the Plan, under IRS guidelines, may request hardship withdrawals for heavy and immediate financial needs which cannot be reasonably met from other resources of the participant. Only one hardship withdrawal is allowed in a 12-month period.

Valuation of Investments

Income Recognition

Net Transfers from Affiliate Plan

Assets Transferred from Other Plans

Payment of Benefits

Loans to Participants

Administrative Expenses

Excess Contributions Payable

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Blended Interest Fund

The Blended Interest Fund is a stable value investment option available to participants that includes several synthetic GICs which simulate the performance of guaranteed investment contracts through an issuer’s guarantee of a specific interest rate and a portfolio of financial instruments that are owned by the Master Trust. Participants may ordinarily direct the withdrawal or transfer of all or a portion of their investment at contract value. Contract value represents contributions made to the fund, plus credited earnings, less participant withdrawals. The interest rate of the fund is reset quarterly based on market rates of other similar investments, the current yield of the underlying investments, and the spread between the market value and contract value.

The synthetic GICs include underlying assets consisting of various fixed income securities which are held in a trust owned by the Master Trust and utilize benefit-responsive wrapper contracts issued by JP Morgan Chase, Nationwide Life Insurance Company, Prudential Insurance Company of

America, Transamerica Premier Life, American General Life Company, Metropolitan Life Insurance Company, Pacific Life Insurance Company, Citibank, State Street Bank and Trust Company, and Massachusetts Mutual Life Insurance Company. The wrapper contracts are designed to allow participants to execute Blended Interest Fund transactions at contract value under most circumstances. The Master Trust’s ability to receive amounts due pursuant to the wrapper contracts depends on the issuers’ ability to meet their financial obligations under the wrapper contracts, which may be affected by future economic and regulatory developments. In addition, certain events such as Plan termination or a Plan merger initiated by the Company may limit the ability of the Plan to transact at contract value or may allow for the termination of the wrapper contract which may result in transacting at less than contract value. Plan management believes that any events that may limit the ability of the Plan to transact at contract value are not probable.

Fair Value Measurements

The guidance on fair value measurements provides a hierarchy for measuring fair value that prioritizes the inputs to valuation techniques. Fair value is defined as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. Assets are classified in their entirety based on the lowest level of input that is significant to the fair value measurement. The three levels of the fair value hierarchy are described below:

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