Company: ASTE
Filing Date: 2025-03-14
Form Type: DEF 14A
Source: 0001104659-25-023778
Chunk: 46

Company: ASTEC INDUSTRIES INC
Filing Date: 2025-03-14
Form: DEF 14A
Chunk 46
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              | $ | 436,000 | ​ | ​ | ​ | ​          | ​ | 3.0%  | ​ | ​ | ​ | ​                 | $ | 449,000 | ​ | ​ |
| ​ | Mr. Harris(3)     | ​ | ​ | ​              | ​ |       — | ​ | ​ | ​ | ​          | ​ | —     | ​ | ​ | ​ | ​                 | $ | 550,000 | ​ | ​ |
| ​ | Mr. Gilbert(4)    | ​ | ​ | ​              | ​ |       — | ​ | ​ | ​ | ​          | ​ | —     | ​ | ​ | ​ | ​                 | $ | 400,000 | ​ | ​ |

(1) The base salary increases for the named executive officers were generally made to bring their compensation in line with similarly situated executives in our industry and with comparable levels of revenue responsibility, based in part on FW Cook’s compensation study and market analysis completed in Fall 2023. (2) Mr. Jonker was placed in the interim CFO role in the Company on March 2, 2024, and his base salary for his service in this role was set at $375,000; his base salary was subsequently decreased to $275,000 in connection with reverting to his previous role effective October 7, 2024. (3) Mr. Harris joined the Company on October 7, 2024, and his base salary was set at $550,000. (4) Mr. Gilbert joined the Company on March 25, 2024, and his base salary was set at $400,000. (5) Ms. Weyenberg’s employment with the Company terminated on April 30, 2024 and she did not receive an increase to her base salary for 2024.

TABLE OF CONTENTS 36 Astec Industries, Inc. | Notice of Annual Meeting and Proxy Statement 2025

Changes to the base salaries for the other named executive officers were in line with market conditions. Annual Cash Incentive Compensation We provide annual cash incentive opportunities to motivate and reward the named executive officers for achievement of financial results and key business objectives. For calendar year 2024, the Compensation Committee continued with our annual incentive plan (AIP) in a manner largely consistent with the AIP that was in place for calendar year 2023. The primary components of the program are discussed below. A target bonus