Company: LPG
Filing Date: 2025-07-22
Form Type: DEF 14A
Source: 0001558370-25-009356
Chunk: 45

Company: DORIAN LPG LTD.
Filing Date: 2025-07-22
Form: DEF 14A
Chunk 45
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 A number of our direct competitors are private or non-U.S. companies that do not disclose comprehensive executive compensation information, which limits the available benchmarking data. Accordingly, the Committee does not target a specific percentile within the peer group. Instead, peer group data is considered alongside broader market compensation surveys, as well as assessments of company and individual performance, to inform pay decisions for our NEOs. This multi-faceted approach supports a compensation program that is competitive within our industry, aligned with our performance objectives, and responsive to the unique context of our business.

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Fiscal Year 2025 Peer Group The Peer Group for Fiscal Year 2025 consisted of the following nine publicly-traded international and domestic shipping companies:

| ​                             | ​ | ​                                | ​ | ​                                 | ​ |
| Bristow Group, Inc.           | ​ | Kirby Corporation                | ​ | Pangaea Logistics Solutions, Ltd. | ​ |
| Genco Shipping & Trading Ltd. | ​ | Matson, Inc.                     | ​ | SEACOR Marine Holdings Inc.       | ​ |
| International Seaways, Inc.   | ​ | Overseas Shipholding Group, Inc. | ​ | Tidewater Inc.                    | ​ |

As part of the 2025 annual compensation review, the Compensation Committee assessed the total direct compensation and base salaries for each of our NEOs—Messrs. J. Hadjipateras, Lycouris, Young, Hansen, and A. Hadjipateras. In making its determinations, the Committee considered current market conditions, peer group benchmarking, internal recommendations (excluding the CEO’s own compensation), and the need to retain proven leadership critical to executing our strategy. Following this evaluation, the Committee approved base salary adjustments for certain NEOs to ensure alignment with market standards and to further support the Company’s objectives of performance-driven compensation and long-term shareholder value creation. Named Executive Officer Base Salary Increases for Fiscal Year 2025 On July 3, 2024, the Compensation Committee approved the following with respect to annual base salaries for the following named executive officers, effective April 1, 2024: (i) a base salary increase for John C. Hadjipateras from $650,000 to $750,000, (ii) a base salary increase for John C. Lycouris from $550,000 to $600,000, (iii) a base salary increase for Theodore B. Young from $550,000 to $600,000