Company: MATV
Filing Date: 2025-03-21
Form Type: DEF 14A
Source: 0001140361-25-009899
Chunk: 23

Company: Mativ Holdings, Inc.
Filing Date: 2025-03-21
Form: DEF 14A
Chunk 23
---
 Committee. The Chief Executive Officer does not make any recommendation concerning her own compensation. While the Committee considers the input of our Chief Executive Officer and management in the compensation decision-making process, the Committee is responsible for overseeing our executive compensation program, which includes the STIP and long-term incentive awards as well as our retirement and other benefit programs and practices. The Committee considers all elements of the program in total, as well as individual performance, Company-wide performance and internal equity and market compensation considerations, when making executive compensation-related decisions.

| Market Review                                     |     | Internal Review                                                                              |     | Pay Decisions                                                                          |
| •Performed by independent compensation consultant 
 •Considers peer pay practices                     
 •Influences program design                        |     | •Chief Executive Officer evaluates performance                                               
 •Chief Executive Officer and management review market data and internal comparable roles     
 •Chief Executive Officer recommends to the Committee program changes and any pay adjustments |     | •Chief Executive Officer and management recommend to the Committee any program changes 
 •Chief Executive Officer recommends pay adjustments                                    
 •Committee carefully considers:                                                        
 ○Historical and current market practices,                                              
 ○Internal pay equity, and                                                              
 ○Established market trends                                                             
 •Committee approves any program and pay changes                                        |

Independent Compensation Consultant The Committee engaged Meridian as its independent compensation consultant. In 2024, Meridian provided executive compensation and governance-related services including review of 2024 compensation adjustments, review of competitive market data provided by Aon, awards under our long-term incentive program, the setting of performance goals in our incentive plans including the payout leverage for results above and below the target performance levels, a review of the analysis of the relationship between the Company’s total direct pay relative to the competitive market, a review of trends and regulatory developments with respect to executive compensation, a review of our compensation peer group, based on materials prepared by Aon plc, and assistance with this Compensation Discussion & Analysis. Meridian is retained by and reports to the Committee and, at the request of the Committee, participates in committee meetings. Meridian did not provide any other services to the Company in 2024. The Committee reviewed the independence of Meridian under the New York Stock Exchange and SEC rules and concluded that the work of Meridian has not raised any conflict of interest. Market-Based Competitive Compensation Levels With respect to 2024, the Committee continued its philosophy of setting compensation within a range of the market median for each position, which experience has shown is the level at which the Company has been able