Company: APTV
Filing Date: 2025-03-10
Form Type: DEF 14A
Source: 0000950170-25-036263
Chunk: 28

Company: Aptiv PLC
Filing Date: 2025-03-10
Form: DEF 14A
Chunk 28
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 opportunities. In addition, Total Shareholder Return was shifted from a weighted metric to a +/- 20% payout modifier on financial results to ensure the executives’ primary focus remains on execution of our long-term financial performance goals, while maintaining meaningful shareholder alignment.

RECENT NEW HIRE INFORMATION

Messrs. Liotine, Khan and Laroyia each joined Aptiv in 2024 with the target compensation opportunities discussed in the "2024 NEO Target Total Direct Compensation Opportunities" table above. The 2024 target annual incentive awards for Messrs. Laroyia and Liotine were prorated based on their respective hire dates, while the 2024 target annual incentive award for Mr. Khan was not prorated and his award was guaranteed to pay out at least at target for 2024.

In addition, Messrs. Liotine, Khan and Laroyia received new hire awards, which were granted in consideration of the forfeited value of cash and equity compensation from their prior employers, and to build an equity ownership stake to align with our shareholders, as detailed below. The cash awards described below are subject to a repayment provision if the executive voluntarily terminates his employment or is terminated for "cause" within the first two years of employment.

Mr. Liotine joined Aptiv on April 29, 2024. He received one-time cash and equity sign-on awards, including a cash award of $2,000,000 and a time-based RSU award with a targeted value of $3,000,000. The sign-on cash award is paid in two installments: $1,000,000 upon hire and $1,000,000 following the one-year anniversary of his hire date, subject to continued employment through such anniversary. The sign-on time-based RSU award was granted in June 2024, and vests ratably in June 2025 and 2026.

Mr. Khan joined Aptiv on August 14, 2024. He received one-time cash and equity sign-on awards, including a cash award of $5,000,000 and an equity award of $6,500,000. The sign-on cash award is paid in three installments: $2,500,000 upon hire, $1,500,000 following the one-year anniversary of his hire date, and $1,000,000 following the two-year anniversary of his hire date, subject to continued employment through each such anniversary. The sign-on equity awards were granted in October 2024,