Company: BHE
Filing Date: 2025-04-04
Form Type: DEF 14A
Source: 0000950170-25-051057
Chunk: 36

Company: BENCHMARK ELECTRONICS INC
Filing Date: 2025-04-04
Form: DEF 14A
Chunk 36
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 effective April 1, 2024 to pursue another opportunity and is no longer with the Company.

A Closer Look at PSUs.Any vesting of PSUs depends on the Company’s achievement of financial goals set by the Human Capital and Compensation Committee and is derived from the Company’s overall financial objectives, which for PSUs awarded in 2024 with a three-year performance period ending in December 2026, included goals relating to:

Revenue : Revenue shall be the total revenue as reported in the Company’s consolidated financial statements for the measurement year.

Operating Income Margin : Adjusted Operating Income divided by the revenue; and

ROIC : ROIC shall be the operating income as reported in the Company’s consolidated financial statements for the measurement year, excluding one-time, non-recurring, non-operational gains or charges and amortization of intangible assets and stock compensation expense, adjusted for taxes (i.e., multiplied by one minus the tax rate), divided by the quarterly average of invested capital by the Company during the performance period, as described below. The tax rate used shall equal the book tax rate for the Company for the measurement year, excluding all discrete items. The quarterly average of invested capital shall equal the average of invested capital on each of last five quarterly consolidated balance sheets for the Company during the performance period (opening balance sheet (fourth quarter of year prior to measurement year) and first quarter, second quarter, third quarter and fourth quarter balance sheets of the measurement year). Invested capital for each balance sheet shall equal the sum of total interest-bearing debt and finance leases (both current and long-term), minority interest, and shareholders’ equity as of the date of each balance sheet less cash and cash equivalents and restricted cash at each balance sheet date.

The Human Capital and Compensation Committee believes that revenue growth, Operating Income Margin and the efficient use of invested capital are key long-term determinants of shareholder value. The PSU targets are designed to enhance focus on performance across these areas ensuring alignment between management’s compensation and the creation of shareholder value.

| 28  Benchmark. Benchmark Electronics, Inc.     •    2025 Proxy Statement |

#### COMPENSATION DISCUSSION AND ANALYSIS
2022 PSU Award Results

The table below sets forth the threshold, target and maximum performance goals for the 2022 PSU three-year awards comprised of (i) revenue, (ii) Operating Income Margin, and (iii) ROIC, weighted in equal thirds. Each plan component is assessed independently with respect to 2024 financial results of the Company.

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