Company: ASTE
Filing Date: 2025-03-14
Form Type: DEF 14A
Source: 0001104659-25-023778
Chunk: 36

Company: ASTEC INDUSTRIES INC
Filing Date: 2025-03-14
Form: DEF 14A
Chunk 36
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 of shareholders, unless the director makes an election to defer the receipt of the shares. The value of the annual stock award was increased from $110,000 to $125,000 in May 2024 after review by the Committee’s independent consultant and in reference to the peer median. Director Stock Ownership Guidelines We require our non-employee directors to hold shares of common stock of the Company having a value of at least five times the regular annual retainer paid to non-employee directors. Until a non-employee director has satisfied the stock ownership guidelines, such director is required to retain seventy five percent (75%) of the “net shares” of common stock received through the non-employee director compensation program. Furthermore, once a non-employee director has satisfied the stock ownership guidelines, any future sales of stock by such director shall be permitted only to the extent that such director shall continue to meet the guidelines immediately following such sale. Directors Gehl, Cook and Howell had met their target ownership level as of January 1, 2025, and all other non-employee directors, each of whom was appointed in 2022 or after, were in compliance with the guidelines by having retained 75% or more of their “net shares” received.

TABLE OF CONTENTS 28 Astec Industries, Inc. | Notice of Annual Meeting and Proxy Statement 2025 PROPOSAL 1: ELECTION OF DIRECTORS The Board of Directors of the Company is divided into three classes, with the term of office of each class ending in three successive years. The terms of directors of Class III expire at this Annual Meeting. The directors of Class I and Class II will continue in office until the 2026 and 2027 Annual Meetings of shareholders, respectively. There are three directors serving in Class I, four directors serving in Class II and three directors serving in Class III (assuming the election of each of the three director nominees). The shareholders are being asked to vote for the re-election of the three director nominees identified below to serve as Class III directors.

| ​ | Name           | ​ | ​ | Class | ​ |
| ​ | Tracey H. Cook | ​ | ​ | III   | ​ |
| ​ | Mary L. Howell | ​ | ​ | III   | ​ |
| ​ | Linda I. Knoll | ​ | ​ | III   | ​ |

The relevant experiences, qualifications, attributes and skills of each nominee that led the Board to recommend them as a nominee for director are described in the section entitled “Board of Directors