Company: NGVT
Filing Date: 2025-03-20
Form Type: DEFC14A
Source: 0001308179-25-000174
Chunk: 32

Company: Ingevity Corp
Filing Date: 2025-03-20
Form: DEFC14A
Chunk 32
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 on Ingevity’s performance in 2024, see the “Proxy Summary,” above. Fiscal Year 2024 Compensation Highlights The following summarizes the key compensation decisions for our NEOs for fiscal 2024: Base Salary: In July 2024, the T&C Committee approved an increase to Mr. Fisher’s base salary to $400,000 in connection with his promotion to Senior Vice President, General Counsel and Corporate Secretary. None of the other NEOs received base salary adjustments in 2024. Short-Term Incentive Plan (“STIP”) Awards :Based on our 2024 STIP Adjusted EBITDA* and STIP Adjusted Revenue* results, as well as each NEO’s individual performance achievements, the T&C Committee approved STIP payouts to our NEOs who were active as of the end of the fiscal year ranging from 49% to 118% of target. Mr. Fernandez-Moreno, in his role as interim President & CEO, does not participate in the STIP.

| * | See Appendix A for                                                                                 
 definitions and reconciliations of these non-GAAP financial measures to the nearest GAAP measures. |

| INGEVITY  |  2025 
 Proxy Statement   | 47 |

Compensation Discussion and Analysis Executive Summary 2024 Long-Term Incentive Plan (“LTIP”) Compensation :In 2024, our NEOs were granted annual long-term incentive awards using a mix of Performance Stock Units (“PSUs”) and Restricted Stock Units (“RSUs”). As in the past, the 2024 PSUs align executive compensation with sustained performance and ensure our NEOs remain focused on delivering value over an extended time horizon. Any PSUs earned upon the achievement of adjusted earnings per share (“EPS”)* and adjusted return on invested capital (“ROIC”)* targets are subject to adjustment based on a three-year relative Total Shareholder Return (“rTSR”) modifier and will cliff vest on the third anniversary of the grant date. RSUs continue to vest ratably over a three-year period on the first three anniversaries of the grant date, further reinforcing our commitment to long-term value creation. In the context of our ongoing PC segment repositioning efforts, which includes exiting low-margin, cyclical markets, reducing our physical footprint, diversifying our raw materials, and exiting long-term supply contracts, the T&C Committee determined that forecasting three-year EPS and ROIC performance goals for the 2024 PSUs would be difficult. As a result