Company: NGVT
Filing Date: 2025-03-10
Form Type: DEFA14A
Source: 0001140361-25-007888
Chunk: 1

Company: Ingevity Corp
Filing Date: 2025-03-10
Form: DEFA14A
Chunk 1
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 or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act ☐ ITEM 5.02. DEPARTURE OF DIRECTORS OR CERTAIN OFFICERS; ELECTION OF DIRECTORS; APPOINTMENT OF CERTAIN OFFICERS; COMPENSATORY ARRANGEMENTS OF CERTAIN OFFICERS On March 10, 2025, Ingevity Corporation (“Ingevity”) announced that its Board of Directors (the “Board”) has appointed David H. Li as President and Chief Executive Officer of Ingevity, effective April 7, 2025 (the “Effective Date”). Mr. Li is also expected to join the Board following Ingevity’s 2025 annual meeting of the stockholders. In connection with Mr. Li’s appointment, Luis Fernandez-Moreno will step down as interim President and Chief Executive Officer of Ingevity as of the Effective Date. Mr. Fernandez-Moreno will continue to serve on the Board after the Effective Date. Biographical Information Mr. Li, age 52, has more than 25 years of experience in the specialty materials industry. Mr. Li most recently served as Chief Executive Officer and President, and as a member of the board of directors, of CMC Materials, Inc. (“CMC”), a global supplier of advanced materials focused on the semiconductor and energy industries, from 2015 until CMC’s sale to Entegris, Inc. in 2022. From 2008 through 2014, Mr. Li served as CMC’s Vice President of the Asia Pacific Region. Prior to that role, Mr. Li served in various leadership roles throughout CMC’s business since joining CMC in 1998, including in the areas of product line management, operations, supply chain and investor relations. Mr. Li received a B.S. in chemical engineering from Purdue University and an M.B.A. from Northwestern University. Mr. Li’s Offer Letter and Severance Agreement In connection with Mr. Li’s appointment, Ingevity entered into an offer letter with Mr. Li, effective as of March 7, 2025 (the “Offer Letter”), which sets forth the terms of his employment. The Offer Letter provides that Mr. Li will receive an initial base salary of $1,100,000 per year and an annual cash incentive opportunity at a target of 120% of his annual base salary pursuant to Ingevity’s short-term incentive plan. Beginning in fiscal year