Company: NC
Filing Date: 2025-04-07
Form Type: DEF 14A
Source: 0000789933-25-000012
Chunk: 2

Company: NACCO INDUSTRIES INC
Filing Date: 2025-04-07
Form: DEF 14A
Chunk 2
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 soliciting material. You should also note that other information contained on or accessible through our website other than this Proxy Statement is not incorporated by reference into this Proxy Statement and you should not consider that information to be part of this Proxy Statement.

<div align='center'>Important Notice Regarding the Availability of Proxy Materials for the

Annual Meeting of Stockholders To Be Held on May 14, 2025 : The 2025 Proxy Statement and 2024 Annual Report are available, free of charge, at https://ir.nacco.com/overview by clicking on the "2025 Annual Meeting Materials" link.

22901 MILLCREEK BLVD., SUITE 600

CLEVELAND, OHIO 44122-5724</div>

#### PROXY STATEMENT — April 7, 2025
This Proxy Statement is furnished in connection with the solicitation by the Board of Directors (the "Board") of NACCO Industries, Inc., a Delaware corporation (the "Company," "NACCO," "we," "our" or "us"), of proxies to be used at the annual meeting of our stockholders to be held on May 14, 2025 (the "Annual Meeting"). This Proxy Statement and the related form of proxy are being mailed to stockholders commencing on or about April 7, 2025.

If the enclosed form of proxy is executed, dated and returned or if you vote electronically, the shares represented by the proxy will be voted as directed on all matters properly coming before the Annual Meeting for a vote. Proxies that are properly signed without any indication of voting instructions will be voted as follows:

| Proposal |     | Description                                                                                                                   |     | Board Vote Recommendation                                                                           |     | Page Reference for More Detail |
| 1        |     | Election of thirteen Director nominees named in this Proxy Statement                                                          |     | FOR                                                                                                 |     |                             37 |
| 2        |     | Approval of NACCO Industries, Inc.'s Amended and Restated Non-Employee Directors' Equity Compensation Plan                    |     | FOR                                                                                                 |     |                             43 |
| 3        |     | Approval, on an advisory basis, of the Company's Named Executive Officer compensation                                         |     | FOR                                                                                                 |     |                             46 |
| 4        |     | The ratification of the appointment of Ernst & Young LLP ("EY") as our independent registered public accounting firm for 2025 |     | FOR                                                                                                 |     |