Company: HEI-A
Filing Date: 2025-01-31
Form Type: DEF 14A
Source: 0001140361-25-002543
Chunk: 37

Company: HEICO CORP
Filing Date: 2025-01-31
Form: DEF 14A
Chunk 37
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- based compensation. Determining Compensation Levels

| ▪ | Independent, third party consultants utilized |

| ▪ | The consultants retained by the Committee are independent |

| ▪ | They raise no conflict of interest concerns because they provide no other services to HEICO or its executives |

The Committee utilizes independent third-party consultants to help us benchmark our compensation views against those of other companies. The consultants were chosen due to their strong reputation for excellent performance and the Committee's confidence in the quality of their work. FW Cook provided our benchmark analysis of executive base salaries and bonuses paid to executives at other companies with some important characteristics similar to ours. The consultant’s benchmark was comprised of thirteen manufacturing companies, each with at least one significant characteristic similar to one of HEICO’s, such as revenues, market capitalization, profits or industry. The aerospace companies used in the benchmark analysis were: AMETEK, Inc., CAE, Inc., Crane Company, Curtiss-Wright Corp., Dover Corp., Hexcel Corp., Howmet Aerospace, Inc., Moog, Inc., RBC Bearings, Teledyne Technologies, Inc., Textron Inc., TransDigm Group, Inc., and Woodward, Inc. JLM Actuarial provided the Committee with advice regarding the HEICO Corporation Leadership Compensation Plan (which is further discussed below) and provided the Committee with general advice on benefits policies and conducted actuarial studies for certain benefit plan contributions.

| ▪ | We do not believe that benchmark studies should be the only, or even the determinative, consideration, though they are helpful in providing partial fairness tests for both our Company and its executives and they help us evaluate whether our compensation methods are at least comparable to those of other companies |

| ▪ | HEICO’s Board of Directors and management focuses on our profitability, cash flow from operating activities as defined by generally accepted accounting principles (“Cash Flow”) and market capitalization in the belief that these ultimately drive shareholder wealth, rather than by our revenues or number of employees relative to other firms |

| ▪ | The Committee incentivizes profitability, Cash Flow and market capitalization growth |

| ▪ | Benchmarking studies frequently relate to a company’s size in revenues or employment, instead of its profitability or profit margins |

| 26 |     | 2025 PROXY STATEMENT |

TABLE OF CONTENTS

If we were to exclusively follow benchmark studies, we would pay our executives not for the Company’s income, but principally for its revenues and staff size, which would not incentivize our management to focus on the