Company: APTV
Filing Date: 2025-05-01
Form Type: 10-Q
Source: 0001521332-25-000027
Chunk: 47

Company: Aptiv PLC
Filing Date: 2025-05-01
Form: 10-Q
Item: Item 1
Chunk 47
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 amended and restated effective April 23, 2015 (the “PLC LTIP”). The Company’s long-term incentive plans were designed to align the interests of management and shareholders. The awards can be in the form of shares, options, stock appreciation rights, restricted stock units (“RSUs”), performance awards and other share-based awards to the employees, directors, consultants and advisors of the Company. The Company has awarded annual long-term grants of RSUs under its long-term incentive plans in order to align management compensation with Aptiv’s overall business strategy. All of the RSUs granted under both the 2024 LTIP and PLC LTIP are eligible to receive dividend equivalents for any dividend paid from the grant date through the vesting date. When applicable, dividend equivalents are paid out in ordinary shares upon vesting of the underlying RSUs. In addition, the Company has competitive and market-appropriate ownership requirements for its directors and officers.In connection with the reorganization transaction as further described in Note 1. General, in December 2024, Old Aptiv established a new publicly-listed Jersey parent company, New Aptiv, which is resident for tax purposes in Switzerland. As a result of the Transaction, all issued and outstanding ordinary shares of Old Aptiv were exchanged on a one-for-one basis for newly issued ordinary shares of New Aptiv. In connection with the Transaction, New Aptiv assumed Old Aptiv’s long-term incentive plans.

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Board of Director AwardsAptiv has granted RSUs to the Board of Directors as detailed in the table below:Grant DateRSUs grantedGrant Date Fair Value (1)Vesting DateShares Issued Upon VestingFair Value of Shares at IssuanceShares Withheld to Cover Withholding Taxes(dollars in millions)April 202430,497 $2 April 202529,199 $2 1,298 April 202320,584 $2 April 202418,272 $1 2,312 (1)Determined based on the closing price of the Company’s ordinary shares on the date of the grant.In addition, in April 2025, Aptiv granted 38,590 RSUs to the Board of Directors at a grant date fair value of approximately $2 million. The grant date fair value was determined based on the closing price of the Company’s ordinary shares on the date of the grant. The RSUs will vest in April 2026.Executive AwardsAptiv has made annual grants of RSUs to