Company: BHE
Filing Date: 2025-04-04
Form Type: DEF 14A
Source: 0000950170-25-051057
Chunk: 53

Company: BENCHMARK ELECTRONICS INC
Filing Date: 2025-04-04
Form: DEF 14A
Chunk 53
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 (“Item 402(u)”) and based on our internal records and the methodology described below.

Consistent with Item 402(u), the Company reviewed its global employee population at the end of the Company’s fiscal year (December 31, 2024) to prepare the analysis. Using the Company’s internal records for December 31, 2024, the date selected by the Company for purposes of choosing the median employee, the global employee population consisted of approximately 11,700 individuals, with approximately 24% of these individuals located in the United States, 44% in Asia, 12% in Europe and the remaining 20% in Mexico. Based on a review of the data as of December 31, 2024, the Company concluded that there has been no change in its employee population or employee compensation arrangements that it believes would result in a significant change to its pay ratio disclosure. As a result, the median employee was identified using the Company’s last payroll records as of December 31, 2022 and the base salary paid to employees (annualized in the case of employees who joined the Company during 2022), excluding our CEO, as the Company believes this to be a consistently applied measure across its population. Other sources of compensation were then added to calculate the annual total compensation of the median employee.

For fiscal 2024, the median employee’s annual total compensation was $13,982 and the annual total compensation of the Company’s CEO was $6,544,395. Based on this information, the ratio of the annual total compensation of the Company’s CEO to the annual total compensation of its median employee for fiscal 2024 is 468:1. The median employee is a direct labor worker at our Penang, Malaysia manufacturing facility.

This pay ratio is a reasonable estimate calculated in a manner consistent with SEC rules and is based upon our reasonable judgments and assumptions. The SEC rules do not specify a single methodology for identification of the median employee or calculation of the pay ratio; accordingly, the pay ratio reported above may not be comparable to the pay ratio calculated by other companies, as other companies have different circumstances, employee populations and compensation practices, and may utilize different methodologies, exclusions, estimates and assumptions.

The Company has not made any of the adjustments permissible by the SEC, nor have any material assumptions or estimates been made to identify the median employee or to determine annual total compensation.

Compensation of Directors

Employee directors have never received any additional compensation for serving on the Board above the compensation they received for serving as