Company: LIN
Filing Date: 2025-04-30
Form Type: DEF 14A
Source: 0000950170-25-060925
Chunk: 43

Company: LINDE PLC
Filing Date: 2025-04-30
Form: DEF 14A
Chunk 43
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 other executive officers who had the highest total compensation for 2024, as set forth in the “Summary Compensation Table” (these executive officers are collectively referred to as the “Named Executive Officers” or the “NEOs”). The HC Committee is responsible for policies and decisions regarding the compensation and benefits for the Company’s NEOs.

Executive Summary

2024 Company Performance Highlights

In 2024, Linde achieved strong financial results including a record return on capital (“ROC”) of 25.9% and operating cash flow of $9.4 billion. The Company grew adjusted operating profit by 7% year-over-year to $9.7 billion at a margin of 29.5% of sales, which was 190 basis points higher than prior year.(a)Linde delivered value to its shareholders by distributing $7.1 billion in the

form of dividends and stock repurchases, while growing adjusted diluted earnings per share to $15.51, up 9% versus 2023 (10% excluding currency translation impact). Furthermore, the Company ended 2024 with a project backlog of over $10 billion and remains well-positioned to continue to deliver robust and sustainable performance into the future.

Adjusted operating profit and margin, earnings per share and after-tax return on capital are non-GAAP measures. Please see “Reconciliation to Compensation and Non-GAAP Measures” on page 79 for a reconciliation to the applicable reported GAAP amount that is most comparable.

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Executive Compensation Matters

Compensation Discussion and Analysis

Year-Over-Year Performance in Key Financial Measures (a) (a) Adjusted operating profit and margin, earnings per share and after-tax return on capital are non-GAAP measures. Please see ”Reconciliation to Compensation and Non-GAAP Measures” on page 79 for a reconciliation to the applicable reported GAAP amount that is most comparable. 2024 Compensation Highlights Based on the Company’s 2024 performance, the annual variable compensation program’s Corporate payout factor was 107.6% of target. The performance share units (PSUs) granted in 2022 under the Company’s long-term incentive program also achieved above-target payouts against the challenging goals that were established at the beginning of their three-year performance period. The Company exceeded the maximum performance level that was established for the ROC PSUs, resulting in a payout of 200% of target. The Company’s relative Total Shareholder Return (TSR) ranking was in the 71st percentile of its pre-established peer group