Company: APTV
Filing Date: 2025-07-31
Form Type: 10-Q
Source: 0001521332-25-000040
Chunk: 53

Company: Aptiv PLC
Filing Date: 2025-07-31
Form: 10-Q
Item: Item 1
Chunk 53
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 one-for-one basis for newly issued ordinary shares of New Aptiv. In connection with the Transaction, New Aptiv assumed Old Aptiv’s long-term incentive plans.

37

Board of Director AwardsAptiv has granted RSUs to the Board of Directors as detailed in the table below:Grant DateRSUs grantedGrant Date Fair Value (1)Vesting DateShares Issued Upon VestingFair Value of Shares at IssuanceShares Withheld to Cover Withholding Taxes(dollars in millions)April 202538,590 $2 April 2026N/AN/AN/AApril 202430,497 $2 April 202529,199 $2 1,298 April 202320,584 $2 April 202418,272 $1 2,312 (1)Determined based on the closing price of the Company’s ordinary shares on the date of the grant.Executive AwardsAptiv has made annual grants of RSUs to its executives in February of each year beginning in 2012. These awards include a time-based vesting portion and a performance-based vesting portion, as well as continuity awards in certain years. The time-based RSUs, which make up 40% of the awards for Aptiv’s officers and 50% for Aptiv’s other executives, vest ratably over three years beginning on the first anniversary of the grant date. The performance-based RSUs, which make up 60% of the awards for Aptiv’s officers and 50% for Aptiv’s other executives, vest at the completion of a three-year performance period if certain targets are met. Each executive will receive between 0% and 240% (200% prior to 2025) of his or her target performance-based award based on the Company’s performance against established company-wide performance metrics, which are:Metric2025Grant2021 - 2024GrantsAverage return on invested capital (1)70%N/ASoftware and adjacent market revenue30%N/ARelative total shareholder return (2)(3)33%Average return on net assets (4)N/A33%Cumulative net incomeN/A33%(1)Average return on invested capital is measured by tax-affected operating income divided by average invested capital. Average invested capital is measured by the sum of average total shareholders’ equity plus average net debt for each calendar year during the respective performance period.(2)Relative total shareholder return is measured by comparing the