Company: GWW
Filing Date: 2025-03-07
Form Type: DEF 14A
Source: 0001104659-25-021496
Chunk: 33

Company: W.W. GRAINGER, INC.
Filing Date: 2025-03-07
Form: DEF 14A
Chunk 33
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inger’s Government Code of Ethics Policy, enhance the provisions regarding political donations and conflicts of interest, and establish parameters on the use of artificial intelligence. The Company provides annual Business Conduct Guidelines training and all Directors, officers and employees are required to certify annually that they have read, understand and are in compliance with the Business Conduct Guidelines. Our Business Conduct Guidelines are posted in the “Governance” section on Grainger’s website at http://invest.grainger.com . Operating Principles for the Board of Directors Grainger also has adopted Operating Principles for the Board of Directors, which represents its corporate governance guidelines. The Operating Principles are available under “Governance” in the Investor Relations section of our website at http://invest.grainger.com . Committee Charters The charters, as adopted by the Board and amended from time to time, of the Audit Committee, the BANC, and the Compensation Committee are available under “Governance” in the Investor Relations section of our website at http://invest.grainger.com.

| ​ | CORPORATEGOVERNANCE | ​ | ​ | PROPOSAL 1:ELECTION OFDIRECTORS | ​ | ​ | PROPOSAL 2:RATIFY THEINDEPENDENTAUDITOR | ​ | ​ | EXECUTIVECOMPENSATION | ​ | ​ | PROPOSAL 3:SAY ON PAY | ​ | ​ | PROPOSAL 4: APPROVALAND ADOPTION | ​ | ​ | QUESTIONS ANDANSWERS | ​ | ​ | APPENDICES | ​ |

TABLE OF CONTENTS

| ​ | invest.grainger.com | ​ | ​ | 29 | ​ | ​ | ● | ​ |

Director Compensation Grainger’s non-employee Directors each receive an annual cash retainer of $115,000 and an annual deferred stock unit (“DSU”) grant of $175,000. The Lead Director and Directors serving as Committee Chairs receive an additional annual cash retainer. Grainger aims to compensate its non-employee Directors at a level that approximates median market practice. In benchmarking Director pay, Grainger uses the same compensation comparator group as used to benchmark compensation for Grainger’s executives as described in the Compensation Discussion and Analysis section beginning on page 37. The Compensation Committee’s independent compensation consultant advises on Director compensation. The Directors’ compensation program, which was last adjusted in April 2024, consists of the following: D IRECTOR C OMPENSATION Total Base Compensation $290,000 Additional Annual Cash Retainers: • $37,500