Company: ABM
Filing Date: 2025-02-14
Form Type: DEF 14A
Source: 0000950170-25-020776
Chunk: 6

Company: ABM INDUSTRIES INC /DE/
Filing Date: 2025-02-14
Form: DEF 14A
Chunk 6
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 one of a small group of public companies, known as “Dividend Kings”, who have raised their annual dividend for over 50 consecutive years. After fiscal year-end, our Board of Directors increased our quarterly dividend 18% to $0.265 per share. This increase represents another step in ABM’s plan to achieve an adjusted net income payout ratio of approximately 30% over the mid-term.                                                                                                                                                          |
| We made further progress on our ELEVATE initiatives in 2024, including the migration of our Education segment to a cloud-based Enterprise Resource Planning system and initiating transitions for Business & Industry and Manufacturing & Distribution segments. We also invested in and began utilizing various artificial intelligence-empowered tools to identify opportunities to gain operating efficiencies, streamline request for proposal processes, and enhance employee experiences.                                                                                                                                                                                                                                 |
| We released our 2023 Corporate Responsibility Report. The report highlights progress on the Company’s long-term commitments and solutions that enable clients to address key risks and opportunities. We were also pleased to be named one of Barron’s most sustainable companies and to be included on Newsweek’s list of most responsible companies, among other awards.                                                                                                                                                                                                                                                                                                                                                      |

Adjusted EBITDA, adjusted EBITDA margin and free cash flow are non-GAAP financial measures. Reconciliations of these financial measures to the nearest GAAP financial measures are set forth in Appendix C to this Proxy Statement.

CORPORATE GOVERNANCE AND BOARD HIGHLIGHTS

Board Composition and Nominees

The following chart reflects the principal occupation, age, tenure and committee memberships of each member of our Board of Directors ("Board").

ABM Industries Incorporated 2025 Proxy Statementiii

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| Name               | Age | DirectorSince | Occupation                                                                      | Independent | CommitteeAssignments                   |
| Quincy L. Allen    |  64 |          2021 | Former Chief Marketing Officer of IBM Cloud, IBM Corporation                    | Yes         | Audit;Stakeholder and Enterprise Risk  |
| LeighAnne G. Baker |  66 |          2018 | Former Senior Vice President and Chief Human Resources Officer, Cargill, Inc.   | Yes         | Compensation, Chair; Governance        |
| Donald F. Colleran |  69 |          2018 | Former President and Chief Executive Officer of FedEx Express                   | Yes         | Compensation;                          
 Stakeholder and Enterprise Risk        |
| James D. DeVries   |  61 |          2022 | Chairman, President and Chief