Company: NGVT
Filing Date: 2025-03-20
Form Type: DEFC14A
Source: 0001308179-25-000174
Chunk: 43

Company: Ingevity Corp
Filing Date: 2025-03-20
Form: DEFC14A
Chunk 43
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, on the third anniversary of the grant date following application of the rTSR modifier. PSU metric adjustments Under the Omnibus Plan, the T&C Committee may adjust results for PSU metrics from time to time to exclude the effect of certain non-recurring items of gain or loss or other significant out of the ordinary matters (such as mergers, acquisitions, and dispositions; entry into joint ventures; significant restructurings; or changes in accounting rules or tax codes) if they had not been factored in when performance targets were established. Any such adjustments are made to ensure that executives are neither unduly rewarded nor penalized for successfully implementing Board-approved strategic initiatives, or as a result of external events that were unforeseen or outside their control. Payout of 2022 PSU award The PSU awards granted in 2022 to the NEOs at the time (“2022 PSU Awards”) had adjusted three-year cumulative earnings per share (“Cumulative EPS”)* and average adjusted return on invested capital (“Average ROIC”)* as the performance targets for the related 2022-2024 performance period. The performance targets for these grants were established in the beginning of 2022, reflecting the long-term goals in place at that time, and were recalculated in 2023 to incorporate the financial impact of significant one-time acquisitions and strategic investments occurring during the performance period that were not contemplated in the previously approved 2022 PSU Awards plan. This recalculation increased the target, threshold, and maximum performance goals required to result in a payout. The T&C Committee approved payment to the NEOs of the 2022 PSU Awards, based upon the achievement of Cumulative EPS* and Average ROIC* performance goals as set forth in the table below. As a result, these PSUs were paid at 28% of the target amount. Actual performance, as certified by the T&C Committee is reflected below:

| Metric                |     | Threshold |     | Target |     | Maximum |     | Actual Performance |     | Payout |
| Cumulative EPS* (70%) |     |    $15.56 |     | $17.29 |     |  $18.68 |     |             $13.63 |     | 0%     |
| Average ROIC* (30%)   |     |     9.80% |     | 12.80% |     |  13.50% |     |             12.50% |     | 92%    |

| *