Company: OC
Filing Date: 2025-03-14
Form Type: DEF 14A
Source: 0001370946-25-000125
Chunk: 46

Company: Owens Corning
Filing Date: 2025-03-14
Form: DEF 14A
Chunk 46
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 Entry and Maximum performance levels were then established based upon the perceived degree of difficulty in achieving the EBIT target level, with consideration for potential over or under performance.

More specifically, for 2024, target corporate funding for each of consolidated adjusted EBIT, Roofing EBIT, Insulation EBIT, and Composites EBIT was set below the corresponding actual adjusted EBIT results under the 2023 CIP. These lower target performance goals reflected the Committee’s expectations at the time these objectives were established in early 2024 due to an outlook for a more normalized level of shingle market demand in the year and cost inflation well above what was incurred. In light of these expectations, the Committee determined that the 2024 CIP target performance goals for adjusted EBIT metrics, even if set below 2023 resulting levels, would reflect challenging but attainable (and motivational) corporate performance objectives for the NEOs.

Each NEO’s opportunity for the individual performance component (weighted at 25%) of the CIP is described below. Each NEO's opportunity was subject to discretion by the Committee based upon its assessment of the individual performance of each NEO for 2024. As described below, the factors considered in assessing individual performance were: the performance of business or functional areas for which the individual is accountable, achievement of predetermined qualitative goals, impact on the organization, and talent development.

Individual performance is based on a discretionary holistic assessment of the NEO’s overall performance. The Committee determined the CEO’s individual award based upon its assessment of his performance during 2024. For the other NEOs, the assessment was made by the CEO for each NEO on an individual basis and reviewed and approved by the Committee in its discretion. When assessing individual performance, the considerations by the CEO and the Committee included those referenced above when determining base salary, as well as a comparison among the NEOs to determine their relative contributions to the Company’s business results (including as further described below), with the goal to differentiate awards based on performance. The Committee received recommendations from the CEO, assessed his performance evaluation for each of the other NEOs and applied its judgment consistent with the factors described above to review and approve the CIP payouts for each NEO for 2024. The table below summarizes each NEO’s maximum opportunity and actual funding under the corporate and individual components pay under the CIP for 2024:

|                   |     |     | TARGET CIP | CORPORATE PERFORMANCE 
 (75% WEIGHTING)       |           | MAX OPPORTUNITY |   |           | ACTUAL