Company: CVGI
Filing Date: 2025-04-16
Form Type: DEF 14A
Source: 0001628280-25-017895
Chunk: 53

Company: Commercial Vehicle Group, Inc.
Filing Date: 2025-04-16
Form: DEF 14A
Chunk 53
---
100M   |     | 120M     |     | 105.4M |
| Operating Working Capital % Sales (20%)                |     | 22.0%     |     | 20.0%  |     | 18.0%    |     | 21.1%  |
| Payout for Performance Level Shown Above (% of Target) |     | 50%       |     | 100%   |     | 200%     |     | 40%    |

Award funding under the Bonus Plan for each metric is independent. Intermediate payout goals are established above and below target to flatten the payout curve, with performance between any points calculated using straight line interpolation. For each component, achievement of threshold performance is required to receive an award for that metric.

| 2024 Bonus Summary |     |       |     |                         |     |           |     |                |
| Metric             |     | Total |     | Operating Income Margin |     | New Sales |     | OWC % of Sales |
| Weighting          |     |       |     | 60%                     |     | 20%       |     | 20%            |
| Payout Calculation |     |       |     | 0%                      |     | 127%      |     | 75%            |
| Weighted Payout    |     | 40%   |     | 0%                      |     | 25%       |     | 15%            |

For 2024, we achieved 0.9% adjusted Operating Income Margin, which excluded certain costs associated with restructuring activities. Since our threshold Operating Income Margin was 1.9%, participants were not entitled to earn a payout for this goal. We ended 2024 with Operating Working Capital as a percent of sales at 21.1% and since our target was 20.0%, this outcome could have resulted in above threshold payout for this goal. We won $105 million in New Business in 2024 and therefore exceeded the target of $100 million, this outcome could have resulted in an above target payout for this goal. However, the Committee exercised negative discretion to reduce the bonus to zero, based on broader Company performance, management recommendation and alignment with stockholder interests, as reflected below and in the Summary Compensation Table:

| NEO         |     | Payment Amount |     | Percentage of Annual Target |     | Payment Date |
| Mr. Ray     |     |          $0.00 |