Company: APTV
Filing Date: 2025-03-10
Form Type: DEF 14A
Source: 0000950170-25-036263
Chunk: 46

Company: Aptiv PLC
Filing Date: 2025-03-10
Form: DEF 14A
Chunk 46
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.5 times the value of the annual incentive plan target award, payable in installments. Messrs. Laroyia, Khan, Liotine and Louissaint are eligible for a severance payment equal to 1 times base salary, payable in installments. In the case of a qualifying change in control and termination, Mr. Clark is eligible to receive a lump sum severance payment equal to 3 times base salary, plus 3 times the value of the annual incentive plan target award. In the case of a qualifying change in control and termination, Messrs. Laroyia, Massaro, Khan, Liotine and Louissaint are eligible to receive a lump sum severance payment equal to 2 times base salary, plus 2 times the value of the annual incentive plan target award. (2) In the case of a change in control, each NEO would receive a prorated annual incentive award based on the greater of (a) actual performance or (b) target. If the NEO terminates due to death or disability, he or she would receive a prorated annual incentive award based on actual performance. In the case of any other terminations prior to the payment date, the award is forfeited in its entirety. The values shown use target performance. (3) The value shown is based on the market value of the award using a per-share price of $60.48, the closing price of our stock on December 31, 2024 (the last trading day of fiscal 2024).

58POTENTIAL PAYMENTS UPON TERMINATION OR CHANGE IN CONTROL

In the event of a qualifying termination within two years after a change in control the NEOs’ awards will vest as described under “Potential Payments Upon Termination or Change in Control—Long-Term Incentive Plan”. Also as described under “Potential Payments Upon Termination or Change in Control—Long-Term Incentive Plan”, if at the time of a change in control the NEOs do not receive replacement awards, their awards will vest upon the change in control regardless of whether their employment is terminated. The performance-based RSUs included represent a 100% payout of each award.

In the event of a voluntary termination on December 31, 2024 (the last business day of fiscal 2024), each NEO would receive the value of their respective 2022 performance-based RSUs. Messrs. Laroyia, Khan, Liotine and Louissaint do not hold 2022 performance-based RS