Company: LIN
Filing Date: 2025-04-30
Form Type: DEF 14A
Source: 0000950170-25-060925
Chunk: 53

Company: LINDE PLC
Filing Date: 2025-04-30
Form: DEF 14A
Chunk 53
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 PERFORMANCE ADJUSTMENTS

Excluding the CEO, the HC Committee may make a positive, negative or no adjustment to each NEO’s performance-based variable compensation based on its evaluation of individual performance. In evaluating if an individual performance adjustment was appropriate, the HC Committee considered various qualitative factors, such as the NEO’s:

| · | performance in their principal area of responsibility, and                                   |
| · | championing of the values and competencies that are important to the success of the Company. |

Adjustments were made to the payouts of each NEO (other than the CEO) based upon individual performance in 2024. When considering the individual performance, the HC Committee considered the factors above including sustainable development, safety, health & environment, inclusion, community engagement, and integrity & compliance. None of the adjustments made were material to annual performance-based variable compensation payments. Set forth below is the calculation of the CEO’s 2024 variable compensation payout determined in accordance with the criteria described above.

| 52 | Linde plc |

Executive Compensation Matters

Compensation Discussion and Analysis

2024 Equity Awards Design Equity awards are the largest portion of each NEO’s target compensation. This weighting helps ensure a strong alignment of NEOs’ and shareholders’ long-term interests. Annual grants of equity awards are made to incent and reward sustained performance. Equity awards are granted as a mix of stock options, PSUs, and RSUs. The mix and type of equity awards granted to the CEO and other NEOs is the same as those granted to all eligible executives of the Company. Fully aligning the leadership team, from mid-management to officers, helps sustain the Company’s pay for performance culture by incenting and rewarding all participants with the same goals and performance results.

Performance Share Units (50% of award target value) The HC Committee includes PSUs in its award mix as this vehicle focuses executives on the Company’s mid-term performance objectives. A three-year performance period is believed to be an appropriate balance between the one-year performance-based variable compensation goals and the longer-term stock option share price growth goals. Additionally, the overlapping three-year performance periods that result from regular annual grants promote retention and encourage management to focus on sustainable growth and shareholder returns. Key features of the PSUs include:

| · | Vest if pre-established multi-year performance goals are attained and forfeited if threshold goals are not met.                 |
| · | Pay no dividends nor accrue dividend equivalents prior to vesting.                                                              |
| · | Require NEOs to hold all after-tax shares derived from vested awards until their