Company: SXT
Filing Date: 2025-03-12
Form Type: DEF 14A
Source: 0001140361-25-008248
Chunk: 44

Company: SENSIENT TECHNOLOGIES CORP
Filing Date: 2025-03-12
Form: DEF 14A
Chunk 44
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 increase target, 100%;       
 8% increase maximum, 200%       |     | $647.9 million                  
 (7.3% increase)                 |     | 30%             |

| (1) | A minimum, target, and maximum payment level were set for each performance goal for purposes of determining awards as shown above. 2024 performance below the minimum level would have resulted in no payment for that performance goal, while 2024 performance equal to or above the maximum level would have resulted in a payment of 200% of the target award for that performance goal. When performance fell between various payment levels, interpolation was used to calculate the payment level. Actual payments to our named executive officers earned based on 2024 performance were 193.1% of the target award amount for Mr. Geraghty and 200% of the target award amounts for our other named executive officers (other than Mr. Rolfs) and are reflected in the Summary Compensation Table under “Non-Equity Incentive Plan Compensation.” Mr. Rolfs retired on June 30, 2024 and, therefore, in accordance with the terms of our annual management incentive plan, was ineligible to receive an incentive payment for 2024. |

| (2) | The annual incentive plan provides that in comparing performance against the targeted performance goals, the Compensation Committee may exclude from the comparison any item that was not considered for the establishment of the performance goals and is related to an activity or event that is outside of the Company’s ordinary course of business as it deems appropriate. In evaluating 2024 results, the Committee removed the costs of the Company’s Portfolio Optimization Plan and the impact of foreign currency translation from adjusted EBITDA, local currency operating profit, and local currency revenue. |

The Company’s objective is to set incentive goals that are quantitative and measurable and that represent meaningful improvement from the prior year while still being capable of achievement at the “target” level. Each of the targets is an objective measure of performance that we believe is widely accepted by investors. The target percentage payout may vary from year to year. The amount Sensient pays will also increase or decrease from year to year depending on the Company’s performance against our target performance measures. After the end of the year, the Company compares Sensient’s performance against the goals for each of the performance measures to determine the amount (if any) that it pays the eligible executive officers under its annual management incentive plan, subject to Committee discretion to reduce the awards as described above