Company: LPX
Filing Date: 2025-03-27
Form Type: DEF 14A
Source: 0001104659-25-028584
Chunk: 30

Company: LOUISIANA-PACIFIC CORP
Filing Date: 2025-03-27
Form: DEF 14A
Chunk 30
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 Committee designs and establishes the overall evaluation framework and oversees this annual evaluation process, which is led by the Lead Independent Director. As part of the evaluation process, the Lead Independent Director conducts individual discussions with each Board member to obtain their assessment of the performance and effectiveness of the Board and its committees. A summary of the results of this process is then reported to the full Board and to each of its committees, which consider the results and the ways in which Board and committee processes and effectiveness might be enhanced. LOUISIANA-PACIFIC CORPORATION ● 2025 PROXY STATEMENT | 29

TABLE OF CONTENTS CORPORATE GOVERNANCE

DIRECTOR STOCK OWNERSHIP GUIDELINES The Board has adopted stock ownership guidelines for outside directors as part of LP’s Corporate Governance Guidelines, which specify target amounts of share ownership. Each outside director is expected to acquire and hold a number of shares equal in fair market value to five times the regular annual cash retainer for outside directors within five years of joining the Board. Compliance is measured annually at the first regularly scheduled Governance Committee meeting of the calendar year based on the amount of the annual cash retainer paid for service as a non-employee director in the year preceding the compliance date. Pursuant to the stock ownership guidelines for outside directors, restricted stock, restricted stock units (“RSUs”) and phantom shares count toward stock ownership requirements under the guidelines. As of December 31, 2024, all of the directors met the guidelines. CONSIDERATION OF DIRECTOR NOMINEES The Board believes that all directors must possess a considerable amount of education and business management experience. The Board also believes that it is necessary for each of LP’s directors to possess certain general qualities and that there are certain skills and experiences that should be represented on the Board as a whole, but not necessarily by each director individually. The composition of the Board, as well as the perspectives and skills of its members, should effectively support LP’s growth and business strategy and collectively, the members of the Board must be capable of providing sound and prudent guidance with respect to LP’s operations and interests.

| ​ | General qualities for all directors:                           | ​ | ​ | Specific experiences, qualifications and backgrounds to                                           
 be represented on the Board as a whole:                                                           | ​ |
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 Extensive executive leadership experience                      
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 Financial and/or accounting expertise                                                             
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 Excellent business judgment                                    
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