Company: NGVT
Filing Date: 2025-03-10
Form Type: PREC14A
Source: 0001308179-25-000061
Chunk: 54

Company: Ingevity Corp
Filing Date: 2025-03-10
Form: PREC14A
Chunk 54
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4, Mr. Fortson and Mr. Fernandez-Moreno. SEC rules permit us to either (i) calculate and combine the compensation provided to each CEO for service as CEO in fiscal year 2024; or (ii) annualize the compensation of the CEO serving on the date selected to identify the median employee. We have elected to use option (ii) and have calculated the annualized compensation for full fiscal year 2024 of Mr. Fernandez-Moreno, the CEO serving on December 31, 2024, which is the date we used to determine our median employee. The ratio is a reasonable estimate calculated in a manner consistent with SEC rules and the methodology described below. We calculated each employee’s annual total cash compensation as of December 31, 2024 to identify our median employee. The following pay elements were included in determining the annual total cash compensation for each employee.

| ■ | Salary, base wages and/or overtime received (as applicable)                                  |
| ■ | Annual incentive payments received for performance in the 2024 year                          |
| ■ | Other cash payments (including payments related to shift differential, holiday, or vacation) |

Our calculation includes all full-time, part-time and temporary employees of the Company and its subsidiaries (except the CEO) as of December 31, 2024. Our total U.S. and Non-U.S. employee population was 1,610 as of December 31, 2024. We applied a foreign currency exchange rate as of December 31, 2024 to all compensation elements paid in currencies other than U.S. Dollars. After calculating the annual total cash compensation described above for each employee, we removed Mr. Fernandez-Moreno from the listing and found the employee with the median total cash compensation. Once this individual was determined we calculated that employee’s annual total compensation in the same manner as the “Total Compensation” shown for Mr. Fernandez-Moreno in the “Summary Compensation Table.” Mr. Fernandez-Moreno’s reported compensation in the “Summary Compensation Table” was $2,035,442. Per the SEC rules, and after annualizing his cash compensation, his total compensation for the purposes of the CEO pay ratio was $4,247,822, and for the Median Employee was $91,408. The resulting ratio of Mr. Fernandez-Moreno’s total annualized compensation to the Median Employee for 2024 is 46:1. We believe this pay ratio is a reasonable estimate calculated in a manner consistent with Item 402