Company: MATV
Filing Date: 2025-03-21
Form Type: DEF 14A
Source: 0001140361-25-009899
Chunk: 13

Company: Mativ Holdings, Inc.
Filing Date: 2025-03-21
Form: DEF 14A
Chunk 13
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centive Plan                                                                                                                                                                                           |     | Service-Based Restricted Stock Units (“RSUs”)                                                                                                                                                                       |     | Performance-Based Restricted Stock Units (“PSUs”)                                                                                                                                                                   |
| How Target and Payout Are 
 Determined                |     | Committee determines amounts and considers Chief Executive Officer recommendations for other NEOs                                                                                                                   
 Factors considered include individual and Company performance, compensation paid to similarly situated executives at the Company, competitive market median, and input from the independent compensation consultant |     | Committee determines target amounts and considers Chief Executive Officer recommendations for other NEOs                                                                                                            
 Factors considered include individual and Company performance, compensation paid to similarly situated executives at the Company, competitive market median, and input from the independent compensation consultant 
 Committee determines performance objectives and evaluates performance against objectives                                                                                                                            |     | Committee determines target amounts and considers Chief Executive Officer recommendations for other NEOs                                                                                                            
 Factors considered include individual and Company performance, compensation paid to similarly situated executives at the Company, competitive market median, and input from the independent compensation consultant |     | Committee determines target amounts and considers Chief Executive Officer recommendations for other NEOs                                                                                                            
 Factors considered include individual and Company performance, compensation paid to similarly situated executives at the Company, competitive market median, and input from the independent compensation consultant 
 Committee determines performance objectives and evaluates performance against objectives                                                                                                                            |
| Performance Measures      |     | Individual                                                                                                                                                                                                          |     | EBITDA, Revenue, Safety Scorecard                                                                                                                                                                                   |     | Change in Company stock price                                                                                                                                                                                       |     | Free Cash Flow as a Percent of Net Sales, Return on Invested Capital, Relative TSR                                                                                                                                  |

| * | Excludes sign-on compensation awarded to Mr. Elwart in connection with the commencement of his employment, as described below under “New Hire Compensation.” |

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TABLE OF CONTENTS The following charts illustrates the mix of the targeted 2024 annual direct compensation for the Chief Executive Officer and the average mix of the targeted 2024 annual direct compensation for our other NEOs (excluding sign-on compensation awarded to Mr. Elwart in connection with the commencement of his employment) and the portion of that compensation that is at-risk. 18

TABLE OF CONTENTS

Base Salary In February 2024, in consultation with Meridian Compensation Partners, LLC (“Meridian”), the Committee’s independent compensation consultant, and based on Meridian’s review of materials prepared by Aon plc (“Aon”) as well as individual performance, the Committee increased the base salaries for all of the NEOs other than Mr. Elwart, with the increases made in