Company: SXT
Filing Date: 2025-03-12
Form Type: DEF 14A
Source: 0001140361-25-008248
Chunk: 33

Company: SENSIENT TECHNOLOGIES CORP
Filing Date: 2025-03-12
Form: DEF 14A
Chunk 33
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| • | The Flavors & Extracts Group had a solid year, reporting strong revenue and operating income growth in 2024. The Group reported local currency revenue growth1of 7.1% and local currency operating profit growth1of 10.8% in 2024. The Group continues to benefit from strong new sales wins, innovative product offerings, and its focus on sales execution and customer service. |

| • | The Color Group had an outstanding year, reporting local currency revenue growth1of 7.3% and local currency operating profit growth1of 14.2%. Both the food and pharmaceutical and personal care product lines experienced solid volume growth due to strong new sales wins and exceptional customer service. |

| • | The Asia Pacific Group had an exceptional year, reporting local currency revenue growth1of 13.0% and local currency operating profit growth1of 14.1%. The Group continues to experience solid volume growth in almost all regions due to a high level of new sales wins. |

Strong Alignment Between Pay and Performance For 2024, our incentive-based compensation programs tracked performance over the 1- and 3-year periods. Performance against financial targets in 2024 under our incentive cash awards resulted in our named executive officers earning between 193.1% to 200% of the target award amounts, which were approved for payment on February 13, 2025. Achievement of financial targets during 2022-2024 under our 2021 performance stock unit awards resulted in our named executive officers earning 102.2% of the target award amounts.

| 1 | Local currency revenue and local currency operating profit are non-GAAP financial measures. See “Non-GAAP Financial Measures” under Item 7 of the Company’s 2024 Annual Report for information regarding these measures and a reconciliation to the most directly comparable GAAP measures. |

32

2024 Say-on-Pay Vote At the 2024 Annual Meeting of Shareholders, we held our fourteenth annual advisory vote to approve named executive officer compensation. Approximately 92.6% of the votes cast voted in favor of the executive compensation disclosed in our 2024 Proxy Statement. Members of our senior management regularly engage with stakeholders and solicit feedback on compensation and governance matters. This engagement takes the form of telephonic and face-to-face meetings with institutional shareholders, analysis of market practices, and advice from Willis Towers Watson, the Compensation Committee’s independent compensation consultant. The Compensation Committee further reviewed the results of our Say-on