Company: ABM
Filing Date: 2025-02-14
Form Type: DEF 14A
Source: 0000950170-25-020776
Chunk: 32

Company: ABM INDUSTRIES INC /DE/
Filing Date: 2025-02-14
Form: DEF 14A
Chunk 32
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 the Proxy Statement) oversees all aspects of our NEO compensation. Our NEOs for fiscal year 2024 are:

|  | Scott Salmirs, President and Chief Executive Officer                                                |
|  | Earl R. Ellis, Executive Vice President and Chief Financial Officer                                 |
|  | Rene Jacobsen, Executive Vice President and Chief Operating Officer                                 |
|  | Andrea R. Newborn, Former Executive Vice President, General Counsel and Corporate Secretary*        |
|  | Raύl Valentín, Executive Vice President and Chief Human Resources Officer                           |
|  | Joshua H. Feinberg, Former Executive Vice President and Chief Strategy and Transformation Officer** |

*Ms. Newborn retired from the Company effective February 1, 2025.

**Mr. Feinberg served as Executive Vice President and Chief Strategy and Transformation Officer through July 21, 2024. He then served as Senior Advisor from July 22, 2024 until his termination from the Company on October 31, 2024.

OUR COMPENSATION PHILOSOPHY AND PRACTICES

Compensation Philosophy

Our objective is to design an executive compensation program that encourages all of our leaders to produce strong financial results and create sustainable long-term value for our stockholders. To achieve this, we:

use evaluation criteria that include both internally measured performance (represented by our performance against our financial targets) and externally measured performance (represented by relative total stockholder return);

place significant weight on long-term equity compensation, thereby tying a substantial amount of total compensation of our executives to the achievement of sustained stockholder value creation; and

provide a mix of short-term annual cash incentive compensation and long-term performance-based equity compensation.

Best Practices

The following are some of the best practices we employ in our compensation program.

At-Will Employment. We do not have fixed-term employment agreements with our NEOs.

Clawback Policy. We maintain a clawback policy that empowers the Company to recover certain incentive compensation erroneously awarded to a current or former executive officer in the event of an accounting restatement, in accordance with such policy.

Special Forfeiture Rights (Enhanced Clawback Policy). Our incentive award terms and conditions provide that, in the event of an employee’s serious misconduct, outstanding awards will be forfeited and certain amounts paid and received by employees will be recoverable by the Company.

No Single-Trigger Change-in-Control Payments. We utilize double-trigger change-in-control provisions.

No Tax Gross-Ups. We do not