Company: CL
Filing Date: 2025-03-26
Form Type: DEF 14A
Source: 0001308179-25-000223
Chunk: 18

Company: COLGATE PALMOLIVE CO
Filing Date: 2025-03-26
Form: DEF 14A
Chunk 18
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 Panagiotis Tsourapas   |
| Chairman,               
 President and           
 Chief Executive Officer | Chief                 
 Financial Officer     | Chief Legal Officer 
 and                 
 Secretary           | Group               
 President,          
 Growth and Strategy | Group                  
 President, Europe      
 and Developing Markets |

Executive Summary Pay for Performance Overview The key principles underlying our compensation philosophy are aligning pay and performance, driving strong business results and our strategic plan, focusing on long-term shareholder return, motivating and retaining critical talent and reflecting external market and competitive practices. We use performance measures for our incentive programs that are tied to our growth strategy, are used to evaluate the success of our business and are highly correlated with long-term shareholder return and set incentive targets in line with our publicly announced guidance. Annual and long-term incentive award payments vary based on our business performance, and long-term incentive award payments and the value of equity awards also vary based on the performance of our Common Stock. Reflecting these principles, target direct compensation (salary and target annual and long-term incentives) for the Named Officers is designed to be weighted substantially more heavily towards variable compensation than fixed compensation, as the following charts demonstrate.

| 2024 TARGET DIRECT COMPENSATION |

| CEO             |
| AVERAGE         
 NAMED OFFICER   
 (EXCLUDING CEO) |

2024 Performance at a Glance In 2024, we were focused on continuing to deliver organic sales growth and consistent compounded earnings per share growth through increasing household penetration, improving brand health and investing behind our strategic priorities. We achieved this goal as we continued to execute successfully on our business strategy, delivering a year of strong sales, profit, earnings per share and cash flow growth and shareholder return in 2024 despite continuing to face a difficult, dynamic operating environment. Global macroeconomic volatility, geopolitical turmoil and market conditions attributable to the war in Ukraine, the conflict in the Middle East and continuing foreign currency volatility, high inflation and high interest rates caused significant challenges.

| 28 |

Executive Compensation We were especially pleased with our strong adjusted earnings per share (a non-GAAP financial measure, referred to herein as “Base Business Earnings Per Share”), which increased by 11.5% from 2023. We were also pleased with our Free Cash Flow Productivity (a non-GAAP financial measure, defined below) and with our organic sales growth (a non-GAAP financial measure, defined as net sales excluding foreign exchange, acquisitions and divestments). Our organic sales growth was within or above our target long-term range for the sixth consecutive year, reflected balanced