Company: PRGO
Filing Date: 2025-03-21
Form Type: DEF 14A
Source: 0000950170-25-042897
Chunk: 40

Company: PERRIGO Co plc
Filing Date: 2025-03-21
Form: DEF 14A
Chunk 40
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3/5/7 objectives, specifically consistently delivering 5% annual Adjusted OI growth.

For the 2022 and 2023 grants of PSU OI awards, goals for the three-year period were set up front as follows: the target goal for the first year of the three-year performance period is based on the Board-approved annual financial plan, and the target goals for the second and third years of the three-year performance period are determined by applying a pre-determined 5% growth rate to the prior year’s actual PSU OI. Earned PSUs are based on the average of the vesting credit for each year in the three-year performance period.

For the 2024 grant cycle, the TCC changed the PSU OI program design to further align with investor preference to measure three-year cumulative PSU OI. Instead of measuring year-over-year growth separately for each year of the three-year performance period, the 2024-2026 PSU OI awards will be earned based on cumulative PSU OI dollars generated over the three fiscal years 2024, 2025 and 2026.

#### PERRIGO•2025 PROXY STATEMENT35
Executive Compensation Target PSU OI will be the sum of: • Adjusted Operating Income included in the 2024 Annual Financial Plan (" 2024 Plan OI "); and • 2024 Plan OI x 1.05; and • 2024 Plan OI x 1.05 x 1.05. The threshold goal was then set at 80% of this target PSI OI value, which would result in 50% of the target PSUs being earned. No PSUs will be earned if performance is below the threshold goal. The maximum goal was set at 120% of the target PSU OI value, which would result in 200% of the target PSUs being earned. Payout is linearly interpolated for performance between levels. The following tables summarize the three-year cumulative PSU OI goals for the 2024-2026 performance period: 2024-2026 PSU OI

|                                                                        |     |                   Target |
| CY2024 PSU OI                                                          |     | Cumulative for CY24-CY26 |
| Maximum (>=120% of metric target performance pays 200% of Target PSUs) |     |                 $2,370.8 |
| Target (100% of metric target performance pays 100% of Target PSUs)    |     |                 $1,