Company: THRM
Filing Date: 2025-03-27
Form Type: DEF 14A
Source: 0001140361-25-010582
Chunk: 79

Company: Gentherm Inc
Filing Date: 2025-03-27
Form: DEF 14A
Chunk 79
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 work on our assembly lines or otherwise on the factory floor. We strive to create a competitive compensation program for each position in each of our geographic locations, so our compensation program varies significantly depending on pay practices in each local market. As of December 31, 2024, our employee population was distributed as follows (all numbers are approximate):

| China                                        |  1,734 |
| Czech Republic                               |    318 |
| North Macedonia                              |  2,416 |
| Mexico                                       |  5,478 |
| Morocco                                      |     52 |
| Ukraine                                      |  1,520 |
| Vietnam                                      |  1,244 |
| Total of Above Low Prevailing Wage Countries | 12,762 |
| All Other Countries                          |  1,484 |
| Total                                        | 14,246 |

As a result, the factors that influence the target and earned compensation of our Chief Executive Officer are significantly different from the factors that generally influence the compensation of our workforce. Our compensation practices vary from country to country to ensure alignment with local regulatory and market practices where we operate. Within each country, compensation is driven by responsibilities and accountabilities, skill level and other job-based factors. Given the large majority of our employees are performing jobs requiring lower-skill sets within countries having relatively low prevailing wages, we consistently find that our median employee necessarily is part of that group. CEO Annual Total Compensation Mr. Eyler’s annual total compensation for 2024 was $6,316,439 as reported in the “Total” column of our Summary Compensation Table for 2024. Pay Ratio SEC rules for identifying the median employee and calculating the pay ratio allow companies to apply various methodologies and assumptions. As a result, our reported pay ratio may not be comparable to the pay ratio reported by other companies. For 2024, our last completed year, the annual total compensation of the median employee of the Company (other than our Chief Executive Officer) was $9,078; consequently, for 2024 the ratio of the annual total compensation of Mr. Eyler, our Chief Executive Officer, to the annual total compensation of our median employee was 696 to 1. Our median employee in 2024 was a full-time employee located in Mexico who remained in the same position for all of 2024. The form and amount of our Chief Executive Officer’s annual total compensation is largely influenced by prevailing compensation practices in the United States, as well as the competitive market for senior executive talent in the United States.