Board Justification

The objective of our executive compensation program is to encourage and reward performance that implements the strategies and advances the goals of The Win Strategy. The program is designed to: Align the financial interests of our executive officers and our shareholders by encouraging and rewarding our executive officers for performance that achieves or exceeds significant financial and operational performance goals and by holding them accountable for results.

Board Justification

The Officer ACIP provides for annual award payouts based on the achievement of performance goals. The performance goals are tied to three performance metrics (segment operating income weighted at 40%, sales revenue weighted at 20%, and cash flow margin weighted at 40%), with each metric evaluated at three performance levels (threshold, target or maximum).

Board Justification

Includes company contributions to defined contribution plans and premiums paid for life insurance.

Board Justification

Each of the Named Executive Officers received a payout during fiscal year 2025 under LTIP Awards granted during the third quarter of fiscal year 2022 for the three-year performance period ending December 31, 2024.