Company: SLGN
Filing Date: 2025-04-17
Form Type: DEF 14A
Source: 0001193125-25-083646
Chunk: 37

Company: SILGAN HOLDINGS INC
Filing Date: 2025-04-17
Form: DEF 14A
Chunk 37
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 account his responsibilities and relevant employment markets.

For 2025, the Compensation Committee set the performance goal for Mr. Greenlee under the Senior Executive Performance Plan as the Adjusted EBITDA of the Company, subject to further adjustment as determined by the Compensation Committee for acquisitions and/or divestitures completed during 2025 and unusual gains and unusual losses, and the performance goal target for the maximum amount of his annual bonus as the Adjusted EBITDA of the Company in 2024, with the manner for calculating the amount of his annual bonus being the same as in 2024. If the performance goal target is met, then Mr. Greenlee will receive his annual target cash bonus for which he is eligible, or 125% of his annual base salary. If the performance goal target is not met, then Mr. Greenlee will receive a pro rata amount of his annual target cash bonus for which he is eligible. In setting the performance goal under the Senior Executive Performance Plan, the Compensation Committee chose net income before interest, taxes, depreciation and amortization and rationalization charges of the Company because it believes that it is an important and accepted measure of performance of the Company, and the Compensation Committee decided to exclude acquisition termination fees (net of related costs), costs attributable to announced acquisitions, the impact from any foreign currency devaluations and other pension income (expense) for U.S. pension plans from such calculation because such items are generally non-recurring and/or not indicative of the Company’s operating results. For 2025, the Compensation Committee approved an annual cash bonus program for each of Messrs. Chevrier, Lewis and Hogan and Ms. Ulmer pursuant to which each of them is eligible to receive a maximum annual target cash bonus in an amount of 75% of his or her annual base salary received in 2025, with the amount of such annual cash bonus being calculated on the same basis that an annual cash bonus is calculated for Mr. Greenlee for 2025 under the Senior Executive Performance Plan.

The Compensation Committee established annual bonus programs applicable to Messrs. Greenlee, Lewis and Hogan, or the Holdings Executives, that are different from the annual cash bonus programs applicable to the other executive officers of the Company because they assist the Compensation Committee in establishing the annual cash bonus programs for the other executive officers of the Company, including setting financial and non-financial goals under such programs and determining whether goals were met under such programs. The Compensation Committee believes it is important that it receive an unbiased view from members of