Company: CVGI
Filing Date: 2025-04-16
Form Type: DEF 14A
Source: 0001628280-25-017895
Chunk: 49

Company: Commercial Vehicle Group, Inc.
Filing Date: 2025-04-16
Form: DEF 14A
Chunk 49
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 Meridian to assist with a periodic review and analysis of compensation data for comparable positions in similarly sized general manufacturing companies. The analysis used for 2024 benchmarking purposes was prepared by Meridian in November 2023 and incorporated data from third party proprietary compensation surveys in addition to proxy data from the published peer group. The examination and comparison of this compensation data is an important component of the Committee’s review but does not serve as the sole basis for compensation decisions, and no formulaic methodology is used by the Committee when referring to such data in connection with executive compensation decisions.

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In 2023, the Committee approved an adjusted TSR peer group that mirrored the updated 2024 compensation peer group, which includes the following:

| Astec Industries, Inc.        |     | Motorcar Parts of America, Inc.        |
| Blue Bird Corporation         |     | Myers Industries, Inc.                 |
| Columbus McKinnon Corporation |     | NN Inc.                                |
| Cooper-Standard Holdings Inc. |     | Standard Motor Products, Inc.          |
| EnPro Industries, Inc.        |     | Stoneridge, Inc.                       |
| Federal Signal Corporation    |     | Superior Industries International Inc. |
| Gentherm Incorporated         |     | The Shyft Group, Inc.                  |
| L.B. Foster Company           |     | Wabash National Corporation            |
| Modine Manufacturing Company  |     |                                        |

For 2025, the Committee generally targeted base salaries, target annual cash incentives, and long-term incentives for our NEOs near the 50th percentile or market median. As a result, target total cash compensation (salary and target annual cash incentives) and target total direct compensation (salary, target annual cash incentives and long-term incentives) are expected to be meaningfully above market median for our NEOs only if actual performance exceeds targeted performance goals, consistent with our pay for performance philosophy.

The Committee believes this pay philosophy, with market-based pay and an emphasis on at-risk compensation, supports the attraction and retention of high caliber executives in an increasingly competitive market for executive talent.

Compensation Elements - Overview

The three principal compensation components for our NEOs include:

• Base Salary;

• Annual Incentive Compensation; and

• Long-term Incentive Compensation.

Compensation Mix

We use the principal components of compensation described above to provide at-risk compensation, retention value, and an equity stake designed to align NEO and stockholder interests. Our policy for allocating