Company: COHU
Filing Date: 2025-04-02
Form Type: DEF 14A
Source: 0001437749-25-010672
Chunk: 36

Company: COHU INC
Filing Date: 2025-04-02
Form: DEF 14A
Chunk 36
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 to achieve because they would require delivery of results in uncertain market conditions (including the extended market downturn and inflationary pressure on costs), adroitly executing our business strategy, the development and acceptance by customers of new products, and successful entry into certain new markets in a highly competitive and volatile environment.

Annual Short-Term Incentive Plan Decisions

Following the end of 2024, the Compensation Committee compared our actual financial performance to the target performance levels established for the year and applied the incentive formula under the 2024 STI to our actual performance and determined there would be no payout to any of our NEOs.

The applicable actual financial performance attained and resulting payout levels for our NEOs for 2024 were as follows:

| Actual Achievement of 2024 STI Performance Measures   |            |           |             |             |
|                                                       | Dr. Müller | Mr. Jones | Mr. Bohrson | Mr. Kampfer |
| 4-year Rolling Sales Growth (1)                       |     (7.9)% |    (7.9)% |      (7.9)% |      (7.9)% |
| Goal Payout % (2)                                     |       0.0% |      0.0% |        0.0% |        0.0% |
| Non-GAAP Pre-tax Income (3)                           |     (1.0)% |    (1.0)% |      (1.0)% |      (1.0)% |
| Goal Payout % (3)                                     |       0.0% |      0.0% |        0.0% |        0.0% |
| Actual Amount of Fiscal Year 2024 STI Cash Incentives |            |           |             |             |
| Non-Equity Incentive Award Payable                    |         $0 |        $0 |          $0 |          $0 |
| % Targeted Award Amount                               |       0.0% |      0.0% |        0.0% |        0.0% |

| (1) | 2024 4-year rolling sales growth rate of (7.9)% is calculated as follows: the result of the sum of each year’s net sales from 2021 through 2024 (in thousands: $887,214, $812,775, $636,322, $401,779 respectively), less the sum of each year’s