Company: PLPC
Filing Date: 2025-03-21
Form Type: DEF 14A
Source: 0001628280-25-014223
Chunk: 40

Company: PREFORMED LINE PRODUCTS CO
Filing Date: 2025-03-21
Form: DEF 14A
Chunk 40
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 directors who meet NASDAQ standards for independence and are “non-employee directors” under Rule 16b-3(b)(3) of Section 16 of the Exchange Act (“Section 16”).

| 332024 Proxy Statement | PREFORMEDLINEPRODUCTSCOMPANY |

• No Discounted Stock Options or Stock Appreciation Rights (“ SARs ”). All stock option and SAR awards under the 2025 Plan must have an exercise or base price that is not less than the fair market value of the underlying common shares on the date of grant, except in the case of conversion or substitute awards granted to holders of awards from an acquired business. • No Repricing of Underwater Options. The 2025 Plan prohibits any repricing of options or SARs without shareholder approval. • No “Evergreen” Share Reserve. The 2025 Plan includes a limited reserve of common shares and does not include any “evergreen” provisions for increases to such reserve. • Minimum Vesting. The 2025 Plan imposes a one-year minimum vesting period for all equity-based awards other than (i) conversion or substitute awards, (ii) shares delivered in lieu of fully vested cash obligations, and (iii) awards of up to a maximum of five percent (5%) of the available shares reserved under the 2025 Plan. • No “Liberal” Change in Control Definition. The change in control definition in the 2025 Plan is not “liberal” and, for example, would not occur merely upon shareholder approval of a transaction. A change in control must actually occur in order for the change in control provisions in the 2025 Plan to be triggered. • Clawback Policy. Awards under the 2025 Plan will be subject to the terms of the Company’s Clawback Policy, which was adopted in August 2023 and is in accordance with the final NASDAQ listing requirements. Overview of the 2025 Plan The purpose of the 2025 Plan is to give the Company and its subsidiaries a competitive advantage in attracting, retaining and motivating officers, employees, directors and consultants and to incentivize those individuals to increase shareholder value through incentives directly linked to the Company’s performance. The 2025 Plan is an “omnibus” plan that provides for several different kinds of awards, including stock options, restricted stock, restricted stock units (“RSUs”), SARs, and other stock-based awards. The following summary of the material terms of the 2025 Plan is qualified in its entirety by reference to the full text