Company: BHE
Filing Date: 2025-04-04
Form Type: DEF 14A
Source: 0000950170-25-051057
Chunk: 32

Company: BENCHMARK ELECTRONICS INC
Filing Date: 2025-04-04
Form: DEF 14A
Chunk 32
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 based on the attainment of corporate performance goals. The below table sets forth the threshold, target and maximum performance goals for the annual incentive plan comprised of(i) revenue, (ii) Adjusted Operating Income (as defined below), and (iii) Adjusted Inventory (as defined below), weighted 40%, 45% and 15%, respectively.Each plan component is assessed independently with respect to 2024 financial results of the Company. The Human Capital and Compensation Committee believes these performance goals align with the Company’s continued focus on driving strategic initiatives of revenue and earnings growth while managing inventory responsibly. The annual incentive targets are designed to enhance focus on performance across these areas ensuring alignment between management’s compensation and the creation of shareholder value.

“Adjusted Operating Income” is defined as the operating income as reported in the Company’s audited consolidated financial statements for the measurement year, excluding one-time, non-recurring, non-operational gains or charges and amortization of intangible assets.

“Adjusted Inventory” is defined as the combined sum of inventories and contract assets, less advance payments from customers, on the consolidated balance sheet as of December 31, 2024 (subject to certain adjustments).

At its regular first quarter 2025 meeting, the Human Capital and Compensation Committee determined that the performance goals for the 2024 annual incentive plan were achieved in the aggregate at 94.52% of target.

| Objective Level       |     |   | Company Performance Goals 
 Revenue                   |     |   | Adjusted      
 Operating     
 Income        |     | Adjusted  
 Inventory |               |
|:----------------------|:----|:--|:--------------------------|:----|:--|:--------------|:----|:----------|:--------------|
| Threshold             |     | $ | 2.527 billion             |     | $ | 108.0 million |     | $         | 668.2 million |
| Target                |     | $ | 2.808 billion             |     | $ | 129.2 million |     | $         | 636.4 million |
| Maximum               |     | $ | 3.067 billion             |     | $ | 151.2 million |     | $         | 568.3 million |
| Actual                |     | $ | 2.656 billion             |     | $ | 122.0 million |     | $         | 577.6 million |
| Achievement to Target |     |   | 72.95%                    |