Company: SXT
Filing Date: 2025-03-12
Form Type: DEF 14A
Source: 0001140361-25-008248
Chunk: 49

Company: SENSIENT TECHNOLOGIES CORP
Filing Date: 2025-03-12
Form: DEF 14A
Chunk 49
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 mutual agreement), bonus eligibility (with no guarantee that any bonus will be earned and paid), participation in incentive, savings, and retirement plans, and customary benefits. The agreement incorporates by reference a one-year non-competition covenant that will begin on the date Mr. Paul Manning ceases to serve as Chief Executive Officer. For 2022 to 2025, Sensient’s principal corporate goals and objectives relevant to Mr. Paul Manning’s compensation were to achieve excellent overall financial performance and increased shareholder value by executing Sensient’s strategic plans, including strengthening Sensient’s management organization. The Committee set Mr. Paul Manning’s base salary at $1,040,000 for 2022 and $1,080,000 for 2023 and 2024. Mr. Paul Manning’s base salary was selected based on the evaluations described above, Sensient’s overall financial performance, and his leadership role. His potential annual cash incentive award was 100% of base salary at “target” performance based on a weighted average of the Company’s achievement of adjusted EBITDA and local currency revenue. Sensient granted Mr. Paul Manning 35,160 performance stock units and 23,440 shares of restricted stock in 2022, 42,442 performance stock units and 28,294 shares of restricted stock in 2023, and 34,492 performance stock units and 22,994 shares of restricted stock in 2024. The award for each year was based on Mr. Paul Manning’s performance with respect to the year in which the award was granted in accordance with the evaluation described above and to provide an appropriate incentive for accomplishment of future performance targets. The criteria for equity compensation awards are discussed in the subsection above entitled “Equity Awards.” Mr. Paul Manning was also eligible to participate in the Company benefit plans available to and on the same basis as other executive officers of the Company, including the SERP, the supplemental benefit plan, and the deferred compensation plan. Sensient’s Chief Executive Officer typically receives a higher salary, a higher potential bonus, and larger equity awards than our other executive officers, which is consistent with the practices of the companies included in the Comparable Company Data and most other public companies. Because Sensient does not currently have a Chief Operating Officer or co-CEO, the difference between Mr. Paul Manning’s compensation and the compensation of the other named executives is higher than at companies that employ a Chief Operating Officer or co-CEO. Mr. Paul Manning’s employment agreement includes significant obligations upon early termination of employment (regardless