Company: ONEW
Filing Date: 2025-01-10
Form Type: DEF 14A
Source: 0001772921-25-000007
Chunk: 35

Company: OneWater Marine Inc.
Filing Date: 2025-01-10
Form: DEF 14A
Chunk 35
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 metrics set by the compensation committee, and, once contingently earned, are converted into Restricted Stock Units ("RSUs") that vest ratably thereafter over a three-year period. The remaining 40% of the total long-term equity-based incentive compensation awarded to our Named Executive Officers has been granted in the form of long-term equity-based awards in the form of RSUs that vest ratably over a three-year period. The combination of over 71% - 81% of total annual compensation is discretionary and/or based on Company performance, and more than half of total annual incentive compensation is in the form of long-term equity-based compensation, which creates substantial disincentives to any short-term risk-taking by our Named Executive Officers. Overall, we believe that the balance within our compensation program results in an appropriate compensation structure for the Company, and that the program does not pose risks that could have a material adverse effect on our business or financial performance.

#### 2024 Compensation Decisions
Base Salaries. Base salaries serve to provide fixed cash compensation to our Named Executive Officers for performing their ongoing responsibilities. Initial base salaries for each of our Named Executive Officers were as set forth in each of their Employment Agreements.

The compensation committee reviewed our Named Executive Officers’ base salaries based on the considerations outlined in this CD&A and input from Aon. The compensation committee also reviewed the Named Executive Officers’ individual performance, the integration of previously completed acquisitions, the financial growth and performance of the Company and how the Company’s performance compared to our peer group. Based on this review, the compensation committee approved adjustments to the salaries of our Named Executive Officers to align them more closely with the Company's peer group. The Chief Executive Officer and Chief Operating Officer’s base salaries were increased by 10% and our Chief Financial Officer's base salary was increased by 26% for 2024. These adjustments reflect that no changes had been made to the salary of the Chief Executive Officer or the Chief Operating Officer since 2021. The Chief Financial Officer's salary was adjusted as part of a tiered approach to bring it in line with peers, as it remained below the peer average as of fiscal year 2023. The adjustments to our Named Executive Officers' base salaries are shown in the table below.

| Named Executive Officer   |     | 2023 |     |         | 2024 |     |         | Increase |     |     |
|:--------------------------|:----|:-----|:----|--------:|:-----|:----|--------: