Company: DK
Filing Date: 2025-03-20
Form Type: DEF 14A
Source: 0001140361-25-009658
Chunk: 49

Company: Delek US Holdings, Inc.
Filing Date: 2025-03-20
Form: DEF 14A
Chunk 49
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 to be reported to management and the Audit Committee prior to any vesting. Approximately 102 employees participate in the EOP, including our executive officers. EOP awards to our executive officers consisted of performance-vesting PSUs with a target payout of one times the executive’s target bonus, with a maximum payout of three times the executive’s target bonus. The Human Capital and Compensation Committee reserved the discretion to pay some or all of the ultimate award payout in cash, to be paid equally among all participants. Participants must remain in continuous service to the Company through the payout date to receive an award. Long-Term Incentives The Human Capital and Compensation Committee believes that the grant of long-term compensation, primarily in the form of long-term equity incentive awards, to our executive officers is appropriate to attract, motivate and retain such individuals, and enhance stockholder value through the use of non-cash, equity incentive compensation opportunities. The Human Capital and Compensation Committee believes that the best interests of our stockholders would be most effectively advanced by enabling our executive officers, who are responsible for our management, growth and success, to receive compensation from time to time in the form of long-term incentive awards. Because the vesting of long-term awards is based upon continued employment with us, the awards are designed to provide our executive officers with an incentive to remain with us. Since long-term awards will increase in value in conjunction with an increase in the value of our Common Stock or other performance metrics, such awards are also designed to align the interests of our executive officers and our stockholders. Compensatory Arrangements and Long-Term Incentives No compensatory arrangement with any NEO guarantees that long-term incentive compensation will be awarded to her or him each year. The decision to award long-term incentive compensation to our NEOs, and the determination of the amounts thereof (if any), is the prerogative of the Human Capital and Compensation Committee and/or the Board. TSR performance awards are based on relative performance, with the payout determined based on the rank of the Company’s TSR (stock price plus all dividends paid during the applicable performance period) compared to the TSR of the peer group companies (see the list of companies below), over the three-year performance period, as well as for each year within the performance period. Shares may be earned each year if the performance criteria are met, or forfeited if the performance criteria are not met. Awards do not vest and payout until the end of the three-year performance period and are subject to the executive’s continued employment. The time-