Company: THRM
Filing Date: 2025-03-27
Form Type: DEF 14A
Source: 0001140361-25-010582
Chunk: 32

Company: Gentherm Inc
Filing Date: 2025-03-27
Form: DEF 14A
Chunk 32
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 collective interests and drives long-term business growth. With valuable input from our shareholders, Gentherm has continually refined its approach to executive compensation to ensure alignment with shareholder interests. Over time, we have optimized our compensation structure by balancing fixed and performance-based pay to attract and retain top talent while supporting long-term value creation. In 2024, Gentherm underwent significant leadership changes, demonstrating our focus on strategic succession planning and operational stability.

| • | In December, we announced that Hui (Helen) Xu, General Manager Asia Automotive, departed the Company following the completion of her foreign secondment assignment. |

In early 2021, the Compensation and Talent Committee initiated a discretionary severance plan, updating the contracts of all Named Executive Officers (NEOs), including Ms. Xu, to provide consistent and transparent treatment of compensation in termination scenarios. Mr. Eyler and Mr. Anversa’s employment agreements, which already outlined severance provisions, were reviewed at such time and were not revised because we deemed them aligned with market and best practices. In a reflection of the effort of this Committee to implement standard terms, each of the departures followed the terms of their agreements:

| • | Mr. Anversa did not receive severance and related benefits in connection with his voluntary resignation. |

| • | In connection with a planned transition process Mr. Eyler entered into a Separation and Consulting Agreement that confirmed specified severance and related benefits from his employment agreement. |

| • | Ms. Hu was eligible to receive the severance benefits specified for a termination without Cause in connection with the completion of her foreign secondment assignment and effective termination. |

These agreements facilitated an orderly leadership transition and supported Gentherm's operational stability during this period of change. The Compensation Discussion and Analysis and Named Executive Officer Compensation Tables will outline the terms of these agreements and the applicable severance benefits that were provided as a result. Through disciplined succession planning and our standard compensation strategies, the Board and management swiftly filled these key leadership roles, maintaining alignment with shareholder interests:

Though our compensation disclosures in this proxy statement focus on the compensation of our departed NEOs, you will find a summary of the negotiated compensation packages for Mr. Presley and Mr. Douyard in the Compensation Discussion and Analysis (and each will be NEOs in the 2026 proxy statement).

56 | 2025 PROXY STATEMENT

While 2024 brought significant leadership transitions, we are pleased with the orderly process and our internal and external team that partnered with us on these critical matters.