Company: AOS
Filing Date: 2025-02-27
Form Type: DEF 14A
Source: 0001193125-25-037641
Chunk: 67

Company: SMITH A O CORP
Filing Date: 2025-02-27
Form: DEF 14A
Chunk 67
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 Stephen D. O’Brien |     |           |  1,504,000 |     |                |    282,000 |     |               |  0 |     |                        |    275,978 |     |                   |    169,000 |     |             |   67,255 |     |                   |  0 |     |                 |  27,940 |     |                                      0 |     |                     |    748,573 |     |       |   3,074,746 |

| 1 | Calculated based on the employer paid portion of medical and dental insurance for the Severance Period. |

| 2 | Calculated at the maximum under the Senior Leadership Severance Plan, 25% of the named executive officer’s base salary. |

| 3 | Reflects the amount by which payments to an executive will be reduced so that the executive is not required to pay excise tax. |

50 A. O. Smith Corporation

Executive Compensation

The A. O. Smith Combined Incentive Compensation Plan allows executives who retire to continue to vest stock options, restricted stock units and performance awards on their original vesting schedule. Upon an executive’s retirement, outstanding stock options receive an accelerated expiration of the earlier of the original expiration date or five years from the date of retirement. A retiring executive is entitled to receive a pro rata portion of performance stock and performance cash based on the period of his employment during the three-year performance period based on achievement of the performance goals. A retiring executive is also entitled to receive a pro rata portion of annual incentive compensation, based on his period of employment during the performance period and actual performance achieved.

Please refer to the “Pension Benefits” and “Non-qualified Deferred Compensation” Tables above and related narrative for additional information on the present value of accumulated benefits for our named executive officers.

In addition, each of our named executive officers is provided life insurance as discussed in the section, “Executive Life Insurance.” The death benefits payable as of December 31, 2024, are: $3,360,000 for Mr. Wheeler; $1,953,000 for Mr. Lauber; $1,800,000 for Mr. Shafer; $1,938,000 for Mr. Stern; and $940,000 for Mr. O’Brien. The death benefits payable after retirement are: $1,120,000 for Mr. Wheeler; $651,000 for Mr. Lauber; $646