Company: NGVT
Filing Date: 2025-03-10
Form Type: DEFA14A
Source: 0001140361-25-007888
Chunk: 2

Company: Ingevity Corp
Filing Date: 2025-03-10
Form: DEFA14A
Chunk 2
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2025, Mr. Li will also be eligible to receive annual equity awards with a target value of 500% of his annual base salary pursuant to Ingevity’s long-term incentive plan (the “LTIP”). In connection with his appointment, Mr. Li will also receive a one-time equity award with an aggregate grant date value of $5,000,000, which will consist of performance-based restricted stock units (“PSUs”) with a grant date value of $2,000,000, time-based restricted stock units (“RSUs”) with a grant date value of $1,000,000, and options to purchase shares of Ingevity’s common stock (“Options”) with a grant date value of $2,000,000, each to be granted pursuant to the LTIP. The PSUs will have a three-year performance period and will vest based on the achievement of the applicable performance targets, while the RSUs and Options will vest ratably over four years. Pursuant to the Offer Letter, Mr. Li will also be entitled to receive certain relocation, travel and lodging benefits, and Mr. Li will be eligible to participate in employee benefit plans and programs provided by Ingevity to other senior executives. In accordance with the Offer Letter, Ingevity entered into a severance and change of control agreement with Mr. Li, effective as of March 7, 2025 (the “Severance Agreement”), which provides Mr. Li with severance and change of control benefits similar to those of the other senior executives of Ingevity and which are described in the section entitled “Compensation Discussion and Analysis—Other compensation and benefits—Severance and change of control agreements” in Ingevity’s preliminary proxy statement, which was filed with the Securities and Exchange Commission (the “SEC”) on March 10, 2025 (and which description is incorporated herein by reference). The foregoing descriptions of the Offer Letter and the Severance Agreement do not purport to be complete and are subject to, and qualified in their entirety by, the full text of the Offer Letter and the Severance Agreement, copies of which will be filed with Ingevity’s Quarterly Report on Form 10-Q for the quarter ended March 31, 2025. Mr. Li has no family relationships with any director or executive officer of Ingevity. There are no arrangements or understandings between Mr. Li and any other person pursuant to which Mr. Li was selected as President and