Company: ABM
Filing Date: 2025-02-14
Form Type: DEF 14A
Source: 0000950170-25-020776
Chunk: 74

Company: ABM INDUSTRIES INC /DE/
Filing Date: 2025-02-14
Form: DEF 14A
Chunk 74
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, which is qualified in its entirety by the complete text of the Amended Plan attached as Appendix A to this Proxy Statement. To the extent the description below differs from the Amended Plan text in Appendix A, the text of the Amended Plan governs the terms and provisions of the Amended Plan. Because the Company’s directors and executive officers are eligible to receive awards under the Amended Plan, they may be deemed to have a personal interest in the adoption of this proposal.

PURPOSES OF THE PROPOSAL

Our Board and Compensation Committee determined that the adoption of the Amended Plan is necessary to reward the service and performance of our non-employee directors, officers and other employees, and certain consultants. The Board believes that a long-term equity incentive program motivates and rewards our directors, executive officers and other key individuals for their contributions to our Company’s performance and serves to align long-term compensation with the performance of Company stock. Our Board recommends a vote for the approval of the Amended Plan because it will allow the Company to continue to use equity- and cash-based incentives and promote the goals of our compensation strategy. The Amended Plan will only become effective subject to approval by our stockholders and, if it is not approved, the Current Plan will continue to remain in effect. If the Amended Plan is approved by the Company’s stockholders at the Annual Meeting, outstanding awards granted under the Current Plan will continue unaffected by such stockholder approval. Pursuant to the Amended Plan, participants will receive awards based on the discretion of the Compensation Committee and its designees. As such, if approved by the Company’s stockholders at the Annual Meeting, it is not possible at present to determine the specific participants or the amount or form of any award that will be granted or available for grant to any participant in the future under such plan.

56ABM Industries Incorporated 2025 Proxy Statement

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IMPORTANT FEATURES OF THE AMENDED PLAN

| Plan Feature                                                                       | Description                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     |
| Plan Term                                                                          | If approved, no grant will be made under the Amended Plan on or after the tenth anniversary of the Amended Plan’s effective date.                                                                                                                                                                                                                                                                                                                                                                                                                                                               |
| Minimum Vesting/Performance Period Provisions                                      | Except as otherwise provided in the Amended Plan, equity-based awards granted under the Amended Plan will generally be subject to either a minimum vesting or minimum performance period of at least one year.                                                                                                                                                                                                                                                                                                                                                                                  |
| Limits on Non-Employee Director Compensation                                       | The