Company: CRD-A
Filing Date: 2025-04-07
Form Type: DEF 14A
Source: 0001558370-25-004509
Chunk: 27

Company: CRAWFORD & CO
Filing Date: 2025-04-07
Form: DEF 14A
Chunk 27
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 for 2024. In additional, actual results were adjusted for foreign exchange impact. |

| (2) | For purposes of calculating 2023-2025 LTIP Performance Share Units (“PSU”), earnings per share of $0.74 (adjusted per the terms of the LTIP plan) will be used to determine whether the three-year cumulative earnings per share target was achieved at the end of 2025. For the 2024-2026 LTIP PSU, earnings per share of $0.74 (adjusted per the terms of the LTIP plan) will be used. For purposes of the 2023 and 2024 PSU awards, “earnings per share” means U.S. GAAP consolidated net income attributable to shareholders of the Company with certain defined exclusions, divided by the weighted average of CRD-A and CRD-B diluted shares outstanding. Net income, for purposes of the 2023 and 2024 PSU awards, excludes any material gains, or unbudgeted expenses deemed unusual and/or non-recurring as approved by the Compensation Committee. |

Elements of Compensation In the Compensation Committee’s compensation philosophy, there are generally three key elements used in the Company’s executive compensation program: (1) base salary, (2) an annual cash incentive opportunity and (3) long-term incentive awards, including a long-term performance-based equity unit incentive opportunity. In addition, from time to time when circumstances merit an award, the Compensation Committee may make discretionary cash or equity bonus awards.

| ​                    |   | Base Salary            |   | Annual Cash Incentive                                           |   | Long-Term Incentives                                         |
| Form of compensation | ​ | Cash                   | ​ | Cash                                                            | ​ | Cash and Equity                                              |
| Type                 | ​ | N/A                    | ​ | Annual Cash Incentive                                           | ​ | Time-Vested Restricted Stock Units                           
 Performance Share Units                                      |
| Purpose              | ​ | Pay for individual job 
 performance and merit  | ​ | Incentivize achievement of annual financial and operating goals | ​ | Reward creation of shareholder value over a long-term period |
| Performance          
 Measures             | ​ | N/A                    | ​ | Revenue                                                         
 Operating EarningsOperating Margin                              | ​ | Earnings Per Share                                           |

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Both annual and long-term incentive opportunities are considered at-risk pay. Discretionary bonus awards, if any, may be in the form of cash or equity, and may be granted with or without performance or time-based vesting requirements