Company: ST
Filing Date: 2025-04-29
Form Type: DEF 14A
Source: 0001477294-25-000059
Chunk: 94

Company: Sensata Technologies Holding plc
Filing Date: 2025-04-29
Form: DEF 14A
Chunk 94
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38.5 million of share-based compensation expense for 2023 and 2024, respectively, which are not cash expenditures, but we consider compensation for our employees and are included in expense as wages.

The Company selected cash paid for acquired businesses as a comparative to provide a context for shareholders to compare the Company’s investment in its employees and strategic acquisitions to its direct return of value to shareholders.

Statement of Implementation of Compensation Policy in 2025

Effective January 1, 2025, Stephan von Schuckmann will begin serving as the Company's Chief Executive Officer. Mr. von Schuckmann will receive an equity grant with a grant date fair value equal to $1,000,000 to make him whole for certain ZF compensation opportunities previously granted to him, and will consist of 45% time-based restricted stock units and 55% performance-based restricted stock units (“Replacement Awards”). The vesting of these awards will accelerate in the event that Mr. von Schuckmann’s employment is terminated by Sensata without cause or he resigns for good reason. Pursuant to the U.K. Letter Agreement, Mr. von Schuckmann will also receive a one-time lump sum cash payment of €1,267,000, to be paid promptly following the Employment Date, to compensate for the forfeiture of certain ZF cash incentive opportunities previously granted to him (“Replacement Cash Payment”). If the German Employment Agreement is terminated by Sensata without cause prior to the Employment Date, Mr. von Schuckmann will be entitled to the cash value of the Replacement Awards and the Replacement Cash Payment.

Mr. von Schuckmann will receive a signing equity award in lieu of an annual equity award for fiscal year 2025 with a grant date fair value equal to $6,500,000, consisting of 45% time-based restricted stock units and 55% performance-based restricted stock units. Commencing in the Company’s fiscal year 2026, Mr. von Schuckmann will be eligible to receive an annual equity award pursuant to the terms of the Company’s shareholder approved equity plans, as determined by the Compensation Committee of the Board. Mr. von Schuckmann will also receive a one-time lump sum cash signing bonus of $150,000, to be paid within 45 days following the Employment Date.

For the 2025 annual incentive bonus program, the performance metrics will be Adjusted Operating Income Margin Index and Adjusted Free Cash Flow. The precise targets are commercially sensitive and will be disclosed in arrears. Their weightings and