Company: THRM
Filing Date: 2025-03-27
Form Type: DEF 14A
Source: 0001140361-25-010582
Chunk: 62

Company: Gentherm Inc
Filing Date: 2025-03-27
Form: DEF 14A
Chunk 62
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2024 Awards PSUs – Adjusted EBITDA Margin. 75% of the grant value of target PSUs awarded to the NEOs in 2024 will be earned and vest based upon annual and three-year growth of Adjusted EBITDA Margin, provided such person’s employment continues on such earning and vesting date. The Adjusted EBITDA Margin PSUs are earned from 50% to 200% of target based on actual performance. PSUs – Relative Revenue Growth. 25% of the grant value of target PSUs awarded to the NEOs in 2024 will be earned and vest based upon achievement of a targeted three-year average of the annual year-over-year relative automotive product revenue growth, adjusted for foreign currency translation, compared to the S&P Global light vehicle production in the Company’s relevant markets, which include North America, Europe, China, Japan and Korea. PSUs – Relative TSR Modifier. The total amount of PSUs awarded may be modified based on the Company’s Relative TSR performance against the Company’s TSR peer group. If Relative TSR performance is below the 25th percentile, the total amount of PSUs awarded will be downward modified by 25%. If the Relative TSR performance is at or above the 75th percentile, the total amount of PSUs awarded will be upward modified by 25%. There is no modification if Relative TSR performance is between the 25th and 75th percentiles. Time-Vested RSUs. The time-vested RSUs awarded to the NEOs in 2024 vest in three equal installments on the first through third anniversaries of the grant date, provided such person’s employment continues on the applicable vesting date. Each time-vested RSU represents the right to receive one share of the Company’s common stock upon vesting. 83 | 2025 PROXY STATEMENT

2023 Equity Incentive Plan In May 2023, our shareholders approved the adoption of the Gentherm Incorporated 2023 Equity Plan. The 2023 Equity Plan allows the Company to continue to offer equity awards to employees (including officers and directors who are also employees), non-employee directors, consultants and advisors of the Company and its subsidiaries (each a “Participant” and collectively the “Participants”) in the best interests of the Company and its shareholders. Equity awards are an important component of our compensation programs and allow us to recruit and retain Participants in a competitive market. The Share Limit (defined below) was aligned with our peer group and