Company: NC
Filing Date: 2025-04-07
Form Type: DEF 14A
Source: 0000789933-25-000012
Chunk: 17

Company: NACCO INDUSTRIES INC
Filing Date: 2025-04-07
Form: DEF 14A
Chunk 17
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 Jumper, Dennis W. LaBarre, W. Paul McDonald, Valerie Gentile Sachs and Robert S. Shapard. None of our executive officers serves or has served on the board of directors or compensation committee of another company at any time during which an executive officer of such other company served as a member of our CHC Committee.

| Review and Approval of Related-Person Transactions |

J.C. Butler, Jr., our current President and CEO, is the son-in-law of Alfred M. Rankin, Jr., our current Non-Executive Chairman. Roger F. Rankin, one of our Directors in 2024, is the brother of Alfred M. Rankin, Jr. In 2024, Mr. A. Rankin received $462,663 in total compensation from us (as shown on the Director Compensation Table on page 41), Mr. Butler received $4,957,496 in total compensation from us (as shown on the Summary Compensation Table on page 28) and Mr. R. Rankin received $177,383 in total compensation from us (as shown on the Director Compensation Table on page 41).

The Audit Review Committee reviews all relationships and transactions in which the Company and our Directors and executive officers or their immediate family members are participants to determine whether such persons have a direct or indirect material interest in such transactions. Our legal department is primarily responsible for the processes and controls to obtain information from the Directors and executive officers with respect to related-person transactions in order to enable the Audit Review Committee, and in certain circumstances the CHC Committee, to determine whether the Company or a related person has a direct or indirect material interest in the transaction. In the course of its review, the Audit Review Committee, and in certain circumstances the CHC Committee, considers:

• the nature of the related person's interest in the transaction;

• the material terms of the transaction, including, without limitation, the amount and type of transaction;

• the importance of the transaction to the related person and to us;

• whether the transaction would impair the judgment of a Director or executive officer to act in our best interest; and

• any other matters the Audit Review Committee, or in certain circumstances the CHC Committee, deems appropriate.

Based on this review, the Audit Review Committee, or the CHC Committee in certain circumstances, will determine whether to approve or ratify any transaction that is directly or indirectly material to us or a related person. Any member of the Audit Review Committee, or the CHC Committee in certain circumstances,