Company: NPO
Filing Date: 2025-06-27
Form Type: 11-K
Source: 0001140361-25-023910
Chunk: 5

Company: Enpro Inc.
Filing Date: 2025-06-27
Form: 11-K
Chunk 5
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 in the participant’s account. The loan interest rate is set at 1% above the prime rate, as defined in the plan document. Principal and interest are paid ratably through payroll deductions. Payment of Benefits- On termination of services due to death, disability, or retirement, a participant may elect to receive either a lump sum amount equal to the value of the participant’s vested interest in his or her account, or annual installments over an elected period of time. Distributions of the Employer’s securities are made, at the option of the participant, in either cash or shares. For termination of service for some other reason, a participant may receive the value of the vested interest in his or her account as a lump sum distribution. Benefits from the Plan may also be made upon proper application by a participant for a proven financial hardship. Forfeited Accounts- Benefit payments to terminated participants partially vested in the Plan include their vested portion of the Employer’s contributions. The non-vested portion of terminated participants’ account balances is used to reduce the Employer’s future contributions or to pay the Plan’s administrative expenses, as determined by the Benefits Committee at its sole discretion. As of December 31, 2024 and 2023, forfeited non-vested accounts in the Plan total approximately $40,000 and $198,000, respectively. During the years ended December 31, 2024, 2023 and 2022, the Employer’s contributions were reduced by approximately $255,000, $80,000 and $106,000, respectively, from forfeited non-vested accounts.

| 2. | SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES |

Basis of Accounting- The financial statements have been prepared on the accrual basis of accounting. Use of Accounting Estimates- The preparation of financial statements in accordance with generally accepted accounting principles in the United States of America (“GAAP”) requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and changes therein, and disclosure of contingent assets and liabilities. Actual results could differ from those estimates. Any adjustments applied to estimated amounts are recognized in the year in which such adjustments are determined. Investment Valuation and Income Recognition– Investments are reported at fair value. Fair value is the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants as of the measurement date. The Benefits Committee determines the Plan’s valuation policies utilizing information provided by the investment advisors and Charles Schwab Trust Company, the