Company: NGVT
Filing Date: 2025-03-10
Form Type: PREC14A
Source: 0001308179-25-000061
Chunk: 30

Company: Ingevity Corp
Filing Date: 2025-03-10
Form: PREC14A
Chunk 30
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 have a three-year performance period, measuring rTSR performance (60%) and three-year adjusted EBITDA* growth (40%). Payout of 2022 PSU Award :The PSUs granted in 2022 had adjusted three-year cumulative earnings per share (“Cumulative EPS”)* and average adjusted return on invested capital (“Average ROIC”)* as the performance metrics for the 2022-2024 performance period. Based on our performance relative to the pre-established targets, the applicable NEOs earned 28% of their target PSUs. Transition Compensation :Maintaining stability and driving progress on key strategic priorities has been a critical priority for the Board amid the Company’s significant business transformation and executive leadership transition. To support leadership continuity and ensure a competitive approach to recognizing and rewarding our executives during this time, the T&C Committee, with support from its independent compensation consultant, evaluated market practices of similarly situated companies and made the following decisions:

| ■ | Mr. Fernandez-Moreno received $250,000 monthly                                                                                                                        
 compensation for this role (as previously disclosed on the Company's Form 8-K filed with the SEC on October 3, 2024, his annualized                                   
 base salary was set at $3,000,000 and prorated for his interim service). Mr. Fernandez-Moreno also received a one-time RSU                                            
 grant valued at $1,000,000. The RSUs will vest on the one-year anniversary of the award, contingent on Mr. Fernandez-Moreno’s                                         
 continued service as interim President and CEO or Board membership. If a successor CEO is appointed before this date, vesting                                         
 will require Mr. Fernandez-Moreno to facilitate a smooth transition of duties. If his service as interim CEO ends before the                                          
 RSUs fully vest, he will vest in a prorated portion, calculated as 1/12th of the award per month of service.                                                          |
| ■ | During 2024, the T&C Committee approved one-time cash awards                                                                                                          
 to each of the other NEOs that were active as of the end of fiscal year 2024 that will cliff vest on April 1, 2026 to ensure continuity of leadership through the CEO 
 transition period. Ms. Hall and Messrs. Woodcock, White and Fisher each received cash awards of $900,000, $500,000, $350,000                                          
 and $400,000, respectively. These awards will be reported in the Summary Compensation Table for the