Company: ABM
Filing Date: 2025-02-14
Form Type: DEF 14A
Source: 0000950170-25-020776
Chunk: 93

Company: ABM INDUSTRIES INC /DE/
Filing Date: 2025-02-14
Form: DEF 14A
Chunk 93
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as further described in the 2025 ESPP).

As of February 3, 2025, the Company and its designated subsidiaries collectively had approximately 105,000 employees, including six executive officers, that were eligible to participate in the 2025 ESPP. The basis for participation in the 2025 ESPP is meeting the eligibility requirements and electing to participate.

Offering Periods

Unless otherwise determined by the Committee, each offering period under the 2025 ESPP will be three months and the purchase date will be the last day of the offering period. Offering periods may be consecutive.

If the 2025 ESPP is approved by the stockholders, the first offering period under the 2025 ESPP will commence on July 1, 2025 and will have a three-month duration, closing on September 30, 2025. Thereafter, a new three-month offering period will commence on each subsequent January 1, April 1, July 1 and October 1, with each such offering period consisting of a single three-month purchase period ending on March 31, June 30, September 30 and December 31, respectively, except as otherwise provided by the Committee. No offering period will have a duration exceeding 27 months.

Participation and Payroll Deductions

Eligible employees may become participants in the 2025 ESPP by timely completing and electronically submitting a subscription agreement stating an employee’s election to participate in the 2025 ESPP and authorizing payroll deductions. Each participating employee must authorize contributions pursuant to the 2025 ESPP as a whole percentage of the participating employee’s cash compensation. Such payroll deductions generally may not be less than 1% or more than 10% of a participant's cash compensation. A participant’s payroll deductions for each calendar year may not exceed $23,750 in fair market value. The Committee may change the foregoing limits on payroll deductions effective as of the first day of an offering period.

A participant may increase or decrease the rate of payroll deductions during an offering period by completing a new subscription agreement for payroll deductions, with the new rate to become effective on the first day of the month following the end of the month after receipt of the new subscription agreement and continuing for the remainder of the offering period unless changed. A participant may increase or decrease the rate of payroll deductions for any future offering period by completing a new subscription agreement prior to the beginning of such offering period.

Once an employee becomes a participant in an offering period, then such participant will