Company: EME
Filing Date: 2025-04-23
Form Type: DEF 14A
Source: 0001140361-25-015031
Chunk: 26

Company: EMCOR Group, Inc.
Filing Date: 2025-04-23
Form: DEF 14A
Chunk 26
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 Bonus Plan form a significant element of the Annual Incentive Program. For more than fifteen years, named executive officer annual incentive awards have been based, in large part, on pre-established annual financial results emphasizing pay-for-performance. We expect annual incentive awards to motivate our named executive officers to improve performance on an annual basis. We believe such performance improvements should lead to sustained growth and ultimately to enhanced stockholder value. For 2024, each named executive officer had a targeted annual incentive award that was based upon the achievement of 2024 financial targets (2024 diluted earnings per share from continuing operations and the ratio of our 2024 positive operating cash flow to our 2024 operating income) as well as meeting his/her pre-established personal goals and objectives. The maximum potential aggregate annual incentive award payable for 2024 to Mr. Guzzi was 300%, of his 2024 base salary and the maximum potential aggregate annual incentive awards payable for 2024 to Ms. Mauricio and Mr. Nalbandian were 200% of their respective 2024 base salaries. We refer to a named executive’s maximum potential aggregate annual incentive awards sometimes as his/her “Maximum Potential Incentive Award.” For Mr. Guzzi, his 2024 targeted annual incentive award, based upon our meeting certain financial measurements for 2024, was 150% of his annual base salary, and for Ms. Mauricio and Mr. Nalbandian, their 2024 targeted annual incentive awards, based upon our meeting those 2024 financial measurements, were 100% of their respective 2024 annual base salaries. We refer to this targeted annual incentive award sometimes as the “Financial Target Bonus.” The exact amount of each named executive officer’s 2024 annual incentive award that we would pay based on our financial performance ranged from 0% to the maximum percentage of his or her annual base salary indicated in the immediately preceding paragraph, depending on our 2024 earnings per share and the ratio of our 2024 positive operating cash flow to our 2024 operating income. When we refer to earnings per share with respect to our Annual Incentive Program, we mean earnings per share on a diluted basis from continuing operations. However, in calculating such 2024 earnings per share and operating income for purposes of determining annual incentive awards there was, as provided in the program, to be excluded from such calculations (a) non-cash charges directly associated with the write-down of balance sheet values of assets, (b) investment