Company: NGVT
Filing Date: 2025-03-20
Form Type: DEFC14A
Source: 0001308179-25-000174
Chunk: 33

Company: Ingevity Corp
Filing Date: 2025-03-20
Form: DEFC14A
Chunk 33
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, the EPS and ROIC targets for the 2024 PSUs were tied directly to results for fiscal 2024. The final payout, if any, will be determined in early 2027, after applying the three-year rTSR modifier. This approach allows us to balance near-term accountability in a dynamic environment with a continuing commitment to align compensation with long-term value creation for our stockholders. For more information about our LTIP, please refer to “Long-Term Incentive Plan and 2024 Awards.” The performance metrics for our 2025 PSUs will have a three-year performance period, measuring rTSR performance (60%) and three-year adjusted EBITDA* growth (40%). Payout of 2022 PSU Award :The PSUs granted in 2022 had adjusted three-year cumulative earnings per share (“Cumulative EPS”)* and average adjusted return on invested capital (“Average ROIC”)* as the performance metrics for the 2022-2024 performance period. Based on our performance relative to the pre-established targets, the applicable NEOs earned 28% of their target PSUs. Transition Compensation :Maintaining stability and driving progress on key strategic priorities have been critical priorities for the Board amid the Company’s significant business transformation and executive leadership transition. To support leadership continuity and ensure a competitive approach to recognizing and rewarding our executives during this time, the T&C Committee, with support from its independent compensation consultant, evaluated market practices of similarly situated companies to determine the appropriate value and structure of transition compensation. As part of this comprehensive evaluation, the T&C Committee, in consultation with its independent compensation consultant, granted RSUs to Messrs. Fernandez-Moreno and Fisher (as described below), reflecting the prevailing market practice for interim leadership roles. Given the temporary nature of these roles, these awards are intended to support stability and recognize the immediate contributions of critical interim leaders during a transition.

| ■ | Mr. Fernandez-Moreno received $250,000 monthly                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                               
 compensation for his interim CEO role (as previously disclosed on the Company's Form 8-K filed with the SEC on October 3, 2024, his annualized                                                                                                                                                                                                                                                                                                                                                                                                                                               
 base salary was set at $3,000,000 and prorated for his interim service). Mr. Fernandez-Moreno also received a RSU                                                                                                                                                                                                                                                                                                                                                                                                                                                                            
 grant valued at $1,000,000. The RSUs will vest on the one-year anniversary of the award, contingent on Mr. Fernandez-M