Company: CVGI
Filing Date: 2025-04-04
Form Type: PRE 14A
Source: 0001628280-25-016847
Chunk: 18

Company: Commercial Vehicle Group, Inc.
Filing Date: 2025-04-04
Form: PRE 14A
Chunk 18
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) of the Internal Revenue Code of 1986, as amended (the “Code”).

#### Current Request to Increase the Share Reserve
Awards under the Amended and Restated 2020 Equity Incentive Plan are a major component of our long-term incentive program for our officers, employees, consultants and members of our Board. As noted in the “Compensation Discussion and Analysis,” we recognize that having an ownership interest in the Company is critical to aligning the financial interests of our employees and shareholders. The Board believes it is important to authorize an additional [1,800,000] shares for grant under the Amended and Restated 2020 Equity Incentive Plan. In this proxy statement, we refer to any grant under the Amended and Restated 2020 Equity Incentive Plan as an “award”. As of [April __, 2025], 2,035,000 shares were subject to awards outstanding under the 2020 Equity Incentive Plan and [76,800] shares were available for future awards. As of [April __, 2025], approximately [89] or 1% of our employees, officers and non-employee directors in total participate in the 2020 Equity Incentive Plan, of which four were named executive officers, seven were non-employee directors and no consultants. If shareholders do not approve the amendment and restatement to the 2020 Equity Incentive Plan, the 2020 Equity Incentive Plan will remain in effect; however, we anticipate the shares available for equity-based compensation will be quickly depleted, and we will lose our ability to use equity as a compensation tool. Based on the Compensation Committee’s historical practice, the Compensation Committee anticipates that the additional shares requested will enable the Company to maintain its current equity compensation program for one-year, accommodating anticipated grants related to at least retention of employees. In 2022, 2023 and 2024, the number of shares of common stock underlying equity awards granted (comprised solely of shares of restricted stock) was approximately _634,000, 988,000 and 820,000, respectively. The Compensation Committee expects to continue to grant awards under the Amended and Restated 2020 Equity Incentive Plan consistent with the Company’s historical share utilization rates.

In its determination to approve the amendment and restatement of the 2020 Equity Incentive Plan, the Compensation Committee reviewed the burn rate, dilution and overhang metrics disclosed below, peer group