Company: ORLY
Filing Date: 2025-03-14
Form Type: PRE 14A
Source: 0000898173-25-000013
Chunk: 15

Company: O REILLY AUTOMOTIVE INC
Filing Date: 2025-03-14
Form: PRE 14A
Chunk 15
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2024 Annual Meeting of Shareholders. Mr. Johnson qualifies as an affiliated Director but is not an employee Director. Leadership Structure The Company’s leadership structure, within its Board, consists of a Chairman of the Board, two Vice Chairmen of the Board, an Independent Lead Director, an Audit Committee, a Corporate Governance/Nominating Committee, and a Human Capital and Compensation Committee. All Committee members satisfy the independence requirements under the Nasdaq rules. The Company’s Bylaws permit the positions of Chairman of the Board and Chief Executive Officer to be held by the same person; however, the Board believes these roles and their attendant responsibilities should be separate and fulfilled by two separate individuals. The Company believes having separate roles allows its Board to effectively provide guidance to and oversight of its management. As a result, Greg Henslee serves in the role of Chairman of the Board and Brad Beckham serves in the role of Chief Executive Officer; Gregory D. Johnson served in the role of Chief Executive Officer previously until January of 2024.

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| 24  |  O’REILLY AUTOMOTIVE, INC. | 2025 PROXY STATEMENT |

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| ​ | INFORMATION CONCERNING THE BOARD OF DIRECTORS |

Independent Lead Director

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|   | From time to time, in the interest of sound corporate governance, the Board may appoint an Independent Lead Director.  The Board believes that the designation of an Independent Lead Director improves the functionality of the Board and its Committees and aids in the fiduciary obligations each Director has to the Company and its shareholders.  In January of 2024, the Corporate Governance/Nominating Committee nominated, and the Board approved, Thomas T. Hendrickson to serve as Independent Lead Director.  Mr. Hendrickson has served as Independent Lead Director since that time. ​​ |

The responsibilities of the Independent Lead Director include, but are not limited to, the following:

| ● | Serves as a liaison among other Directors, with the Company’s management, between Board committees and the Board. |

| ● | Presides at Board meetings in the absence of the Chairman of the Board, or at the request of the Chairman of the Board. |

| ● | Ensures Board leadership in the absence or incapacitation of the Chairman of the Board. |

| ● | Chairs executive sessions involving only the independent Directors, develops the agenda for executive sessions to ensure that independent Directors have adequate opportunities for these