Company: MCW
Filing Date: 2025-04-09
Form Type: DEF 14A
Source: 0000950170-25-052554
Chunk: 37

Company: Mister Car Wash, Inc.
Filing Date: 2025-04-09
Form: DEF 14A
Chunk 37
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 program. The Compensation Committee has evaluated Exequity’s independence pursuant to the requirements of NASDAQ and SEC rules and has determined that Exequity does not have any conflicts of interest in advising the Compensation Committee. Use of Peer Groups While the Compensation Committee does not establish compensation levels solely based on a review of competitive data or benchmark to any particular level, it believes such data is a useful tool in its deliberations as our compensation policies and practices must be competitive in the marketplace for us to be able to attract, motivate and retain qualified executive officers. To gain an understanding of current compensation practices and assess the competitiveness of our compensation program, the Compensation Committee reviews pay of executives serving in similar positions at peer group companies. The Compensation Committee reviews the composition of the peer group annually in consultation with Exequity and considers the following: • Size, including total revenues, market capitalization, total enterprise value, and EBITDA; • Industries in which the Company competes for executive talent; and • Other factors, including scale, footprint, and brand recognition. In its review of the peer group for 2024 compensation decisions, the Compensation Committee approved changes to the peer group to position the Company closer to median size statistics. The following seven companies were removed from the peer group: BJ’s Wholesale Club Holdings, Inc.; Five Below, Inc.; Floor & Decor Holdings, Inc.; Rollins, Inc.; Terminix Global Holdings, Inc.; The Wendy’s Company; and Wingstop Inc. The following four companies were added to the peer group: Dave & Buster’s Entertainment, Inc.; Papa John’s International, Inc.; Dine Brands Global, Inc.; and First Watch Restaurant Group, Inc. The peer group used for 2024 compensation decisions consisted of the following companies:

| •Bright Horizons Family Solutions, Inc. | •Grocery Outlet Holding Corp.          | •Petco Health & Wellness Company, Inc. |
| •Dave & Buster's Entertainment, Inc.    | •Leslie’s, Inc.                        | •Planet Fitness, Inc.                  |
| •Dine Brands Global, Inc.               | •National Vision Holdings, Inc.        | •Shake Shack, Inc.                     |
| •Driven Brands Holdings, Inc.           | •Ollie’s Bargain Outlet Holdings, Inc. | •Valvoline, Inc.                       |
| •First Watch Restaurant Group, Inc.     | •Papa John's International, Inc.       |                                        |

| 26 |     | 2025 Proxy Statement |

Compensation