Company: SLGN
Filing Date: 2025-04-17
Form Type: DEF 14A
Source: 0001193125-25-083646
Chunk: 40

Company: SILGAN HOLDINGS INC
Filing Date: 2025-04-17
Form: DEF 14A
Chunk 40
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 100%) that such non-financial goals were met and 25

recommended such percentage to the Compensation Committee for their approval. The approved percentage is then multiplied by such portion of the target bonus payable based upon non-financial goals and such amount is added to the amount of the bonus payable for the financial goal to determine the total bonus payable for 2024.

In 2024, the Company achieved 96.1% of its budgeted Adjusted EBIT and 109.5% of its non-financial goals. Accordingly, the bonus amount payable to Ms. Ulmer for 2024 based upon the achievement of a financial goal by the Company in 2024 was 37.5% of her annual salary received in 2024 in accordance with the chart above. The bonus amount payable to Ms. Ulmer for 2024 based upon the achievement of non-financial goals by the Company in 2024 was 13.69% of her annual salary received in 2024, calculated as follows:

<div align='center'>109.5% x 12.5% = 13.69%</div>

Therefore, Ms. Ulmer’s bonus for 2024 was the sum of the percentage payable for the financial goal and the percentage payable for the non-financial goals, or 51.19% (37.5% plus 13.69%) of her annual salary received in 2024 (which equates to approximately 102.38% of her annual target bonus of 50% of her annual salary received in 2024).

Annual cash bonuses are paid to participants in the incentive programs of the Company’s business operations based upon the achievement of certain financial goals and non-financial goals. Participants in those programs are viewed on a team basis for purposes of annual cash bonuses and establishing financial and non-financial goals. The Compensation Committee generally believes that a majority of the annual cash bonuses payable to managers of the Company’s business operations should be based on a financial goal. The financial goals for the Company’s business operations for a given year are established at the beginning of such year by the Holdings Executives and reviewed by the Compensation Committee. The remaining portion of the annual cash bonuses for the managers of the Company’s business operations is based upon non-financial goals. Such non-financial goals for each of the Company’s business operations for a given year are established at the beginning of the year by the Holdings Executives in conjunction with the managers of such business operations and reviewed by the Compensation Committee