Company: HEI-A
Filing Date: 2025-01-31
Form Type: DEF 14A
Source: 0001140361-25-002543
Chunk: 51

Company: HEICO CORP
Filing Date: 2025-01-31
Form: DEF 14A
Chunk 51
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4, the Company’s payment obligation under the LCP to Steven M. Walker upon a change in control was $0 and upon termination was $1,737,117. The unexercisable (unvested) options held by the Named Executive Officers as detailed in “Outstanding Equity Awards at Fiscal 2024 Year- End” would become immediately vested and exercisable upon (i) a change in control, as defined in the Company's 2018 Incentive Compensation Plan, of the Company, (ii) the liquidation or dissolution of the Company, or (iii) any reorganization, merger, consolidation or other form of corporate transaction in which the Company does not survive or the shares are exchanged for or converted into cash or securities issued by another entity, or an affiliate of such successor or acquiring entity, unless the successor or acquiring entity, or an affiliate thereof, assumes the option or substitutes an equivalent option or right pursuant to Section 10(c) of the Company’s 2018 Incentive Compensation Plan, (each, an “Acceleration Event”). As of October 31, 2024, the value of this acceleration to the Named Executive Officers upon an Acceleration Event was: Laurans A. Mendelson $6,517,600, Carlos L. Macau, Jr. $4,305,000, Eric A. Mendelson $13,659,500, Victor H. Mendelson $13,659,500 and Steven M. Walker $727,499. The value of the accelerated vesting of the unexercisable options was calculated by aggregating the difference between the closing price of the applicable share class as of October 31, 2024 and the exercise price of such unexercisable option multiplied by the number of options for the applicable share class. CEO Pay Ratio As required by Section 953(b) of the Dodd-Frank Wall Street Reform and Consumer Protection Act, and Item 402(u) of Regulation S-K, we are providing the following information about the relationship of the total annual compensation of our employees and the total annual compensation of our Chairman of the Board and Chief Executive Officer, Laurans A. Mendelson. As of August 31, 2024, our employee population, excluding Mr. Mendelson, consisted of 9,711 individuals, of which 6,835 or 70% were located in the United States (“U.S.”). This population consisted of both domestic and foreign full time, part time and temporary employees. To identify our median