Company: CL
Filing Date: 2025-03-26
Form Type: DEF 14A
Source: 0001308179-25-000223
Chunk: 1

Company: COLGATE PALMOLIVE CO
Filing Date: 2025-03-26
Form: DEF 14A
Chunk 1
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 tied to our growth strategy, are used to evaluate the success of our business and are highly correlated with long-term shareholder return and set incentive targets in line with our publicly announced guidance. Annual and long-term incentive award payments vary from target levels based on our business performance, and long-term incentive award payments and the value of equity awards also vary based on the performance of our common stock (“Common Stock”). Evolution of Strategic Measure in 2024 Annual Incentive Program Since 2021 our annual incentive program has, in addition to financial goals, included a performance measure based on strategic initiatives, representing 20% of the annual bonus opportunity. In 2024, the Board’s compensation committee, known as the Personnel and Organization Committee (the “P&O Committee”), reviewed the performance measures included in the strategic measure to ensure they continue to align with our strategic priorities. Following this review, the P&O Committee made two adjustments to the performance measures included in the strategic measure: (i) adjusting the performance measure tied to our innovation progress to further emphasize the acceleration of disruptive and transformational innovation and (ii) replacing the digital transformation performance measure with one tied to delivering a superior experience for our consumers. The P&O Committee determined these changes were warranted in recognition of our success in embedding a digital commerce focus within the Company and our desire to focus on impactful, premium innovation and ensuring consumers receive a superior experience with our brands on store shelves and online. Therefore, for 2024 the strategic measure considered our overall performance on accelerating innovation, driving superior consumer experience, supporting our culture of inclusion and progressing our sustainability initiatives. See page 39 of the CD&A for further detail regarding how the P&O Committee measured achievement against the strategic measure. The remaining 80% of the annual bonus opportunity was determined by our achievement against our organic sales growth and earnings per share goals. Compensation Governance Our key executive compensation practices include the following:

| ✔ | High percentage of compensation is variable and is tied  
 to annual and long-term performance                      |     | ✔ | Double-trigger vesting of severance payments upon change in control |
| ✔ | Multiple performance measures used                       |     | ✔ | No executive officer employment agreements                          |
| ✔ | Robust stock ownership guidelines                        |     | ✔ | No hedging or pledging of Colgate stock is permitted                |
| ✔ | Clawback policies tied to financial restatements or code 
 of conduct violations                                    |     | ✔ | No backdating, springloading or repricing of stock options          |
| ✔ |