Company: THRM
Filing Date: 2025-03-27
Form Type: DEF 14A
Source: 0001140361-25-010582
Chunk: 15

Company: Gentherm Inc
Filing Date: 2025-03-27
Form: DEF 14A
Chunk 15
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 course supply arrangement, and that the Company selected Littelfuse, Inc. following a request for quotations process. Further, the Company’s payments for diodes manufactured by Littelfuse, Inc. (indirectly through distributors) were substantially below 1% of Littelfuse, Inc.’s consolidated gross revenue for each of the last three fiscal years. 28 | 2025 PROXY STATEMENT

Director Compensation Our non-employee director compensation plan is intended to encourage non-employee directors to continue Board service, further align the interests of the Board and shareholders, and attract new non-employee directors with outstanding skills and qualifications. Directors who are employees or officers of the Company do not receive any additional compensation for Board service. The Board has delegated to the Compensation and Talent Committee the responsibility, among other things, to review and make recommendations to the Board regarding any proposed changes to the non-employee director compensation program. The Compensation and Talent Committee typically reviews the non-employee director compensation program every other year. In connection with this review, the compensation consultant to the Compensation and Talent Committee provides analysis regarding market trends and benchmarking data. 2024 Director Compensation A Continuation of Historical Program Design; Increase in Equity Compensation Based on Market Data In November 2023, the Compensation and Talent Committee reviewed non-employee director compensation for 2024 against peer group benchmarking data, general industry data and related analyses presented by Meridian. Meridian noted that the existing compensation program aligned with the Company’s peers and broader market trends from a structure and design perspective. While the peer benchmarking data indicated that the total compensation approximated the median, it also indicated that the annual equity compensation approximated the 25th percentile and that the cash retainer for service as Chair of the Board was approximately 20% below median. As a result, the Compensation and Talent Committee determined to increase equity compensation for Board members by $10,000 and to increase the cash retainer for the Chair of the Board by $20,000, effective as of the 2024 annual meeting. The following table sets forth the compensation program for non-employee directors in 2024.

| Annual Cash Retainer For Board Service:                                                                                 |       -$ |
| Chair of the Board                                                                                                      |  166,000 |
| Other non-employee directors                                                                                            |   86,000 |
| Annual Cash Retainers For Board Committee Service                                                                       |       -$ |
| Audit Committee - Chair                                                                                                 |   20,000 |
| Compensation and Talent,