Company: LPX
Filing Date: 2025-03-27
Form Type: DEF 14A
Source: 0001104659-25-028584
Chunk: 61

Company: LOUISIANA-PACIFIC CORP
Filing Date: 2025-03-27
Form: DEF 14A
Chunk 61
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i) the aggregate grant date fair value (computed in accordance with FASB ASC Topic 718) of the awards of PSUs and RSUs granted under the 2022 Plan for PSUs based upon the target level of performance for 2024, 2023 and 2022 (the probable outcome of the performance conditions at the grant date and excluding the effect of estimated forfeitures), and (ii) for 2023 only, the incremental fair value related to the modification made in October 2023 to the 2021 PSU awards (no incremental value was associated with the modification to the 2022 PSU awards at that time). As required by GAAP and applicable SEC rules, the modification to the 2021 PSU awards resulted in incremental fair value that is reported as additional compensation in fiscal year 2023 (the year of modification). The incremental fair value was calculated as of the modification date in accordance with FASB ASC Topic 718. Assuming the maximum performance level of the performance goal was achieved, the grant date fair value for the 2024 PSU awards included in the “Stock Awards” column would be $6,217,849 for Mr. Southern; $1,267,875 for Mr. Haughie; $1,052,575 for Mr. Ringblom; $1,052,575 for Mr. Mason; and $717,687 for Ms. Daniel. Assumptions used in calculating the fair value are described in Note 11 to LP’s audited financial statements included in its Annual Report on Form 10-K for the year ended on December 31, 2024, except that assumptions regarding forfeitures are ignored. Consistent with the applicable accounting standards, the grant date fair value of the PSUs reflects the market-related TSR modifier, determined using a Monte Carlo simulation model. Additional details regarding the terms of the 2024 awards granted under the 2022 Plan are described in the tables captioned “Grants of Plan-Based Awards for 2024” and “Outstanding Equity Awards at December 31, 2024” in this “Executive Compensation” section of the proxy statement. (2) The amounts shown reflect the annual cash incentive awards under the Annual Incentive Plan based on performance for the year shown and paid in the first quarter of the following year. (3) Amounts shown in this column represent the increase in the actuarial present value of benefits under LP’s Retirement Account Plan. All Retirement Account Plan liabilities to participants were substantially settled