Company: ASTE
Filing Date: 2025-03-14
Form Type: DEF 14A
Source: 0001104659-25-023778
Chunk: 42

Company: ASTEC INDUSTRIES INC
Filing Date: 2025-03-14
Form: DEF 14A
Chunk 42
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 levels for each of our executive officer positions, which included assessment of our executive officers’ base salaries, short-term annual incentive targets and long-term equity compensation levels; review our aggregate equity grant practices; review the Company’s non-employee director compensation program; conduct a compensation risk assessment; review various considerations related to the determination of CEO target compensation levels; review severance and change in control provisions for the executive team and review other executive compensation trends and regulatory

TABLE OF CONTENTS 34 Astec Industries, Inc. | Notice of Annual Meeting and Proxy Statement 2025

developments. The market context and other information provided by FW Cook are among many factors that the Compensation Committee considers when making its decisions. FW Cook also assisted in the preparation of the Company’s public filings with regard to executive compensation. With FW Cook’s assistance, the Compensation Committee reviewed and analyzed competitive market data as background information in connection with setting calendar year 2024 compensation levels and to obtain a general understanding of current compensation practices. Data sources included industry-specific and size-adjusted published survey data. In addition, the Compensation Committee compared compensation opportunities for our CEO and CFO with pay opportunities available in comparable positions at similar companies (our “Peer Group”). Our Peer Group, which did not change from 2023, that was used as a general reference point in setting 2024 target compensation for our executive officers consisted of the following 20 comparably-sized companies from the industrial manufacturing industry (at the time the Peer Group was approved, the Company’s trailing 12-month revenue approximated the median and its 12-month average market cap was between the 25 th percentile and median):

| ​ | Alamo Group Inc.                               | ​ | ​ | Hyster-Yale Materials       | ​ |
| ​ | Altra Industrial Motion Corporation            | ​ | ​ | John Bean Technologies      | ​ |
| ​ | Chart Industries                               | ​ | ​ | Lindsay Corporation         | ​ |
| ​ | CIRCOR International Inc.                      | ​ | ​ | Manitowoc Co.               | ​ |
| ​ | Columbus McKinnon Corporation                  | ​ | ​ | Mueller Water Products      | ​ |
| ​ | Commercial Vehicle Group                       | ​ | ​ | SPX Corporation             | ​ |
| ​ | Enerpac Tool Group (f/k/a Actuant Corporation) | ​ | ​ | Standex International       | ​ |
| ​ | Enpro Industries, Inc.                         | ​ | ​ | The Shyft Group, Inc.       | ​ |
| ​