Company: NGVT
Filing Date: 2025-03-20
Form Type: DEFC14A
Source: 0001308179-25-000174
Chunk: 39

Company: Ingevity Corp
Filing Date: 2025-03-20
Form: DEFC14A
Chunk 39
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 GAAP measures.

| INGEVITY  |  2025 
 Proxy Statement   | 55 |

Compensation Discussion and Analysis 2024 Executive Compensation In Detail 2024 Financial performance targets and results Each year, the T&C Committee establishes performance targets in the first quarter based on several factors, including budget forecasts from senior management, a thorough assessment of macroeconomic conditions, and, under normal circumstances, an anticipated growth outlook. This process ensures that when the T&C Committee approves performance targets at the beginning of each year, they are both ambitious and realistic, striking a careful balance between challenge and achievability to drive meaningful results. The performance targets selected by the T&C Committee for 2024 reflect the combination of the Company’s three reportable segments. This combination reflected the expectation of growth in our Performance Materials and Advance Polymer Technologies segments, offset by a decline in our Performance Chemicals segment. Expectations surrounding the financial results of our Performance Chemicals segment took into consideration the uncertainty around the timing of achieving cost savings derived from the repositioning of Performance Chemicals and the cost of CTO under our outstanding long-term raw material supply agreement. As a result, Performance Chemicals’ performance targets were set at lower levels than 2023 actual performance. The combined result was a reduction of our Company-wide performance target as compared to the actual performance in 2023. The 2024 STIP targets and actual performance and payouts are set forth below.

| Performance Level |     | Payout Range 
 (% of target 
 award)       |     | Company-Wide             
 STIP-Adjusted EBITDA*    | Goals(1) |     |   |         Actual 
    Performance |     | %         
 of Target 
 Achieved/ 
 Payout    |     | Company-Wide              
 STIP-Adjusted Revenue*    | Goals(1) |     |   |             Actual 
     Performance(1) |     | %         
 of Target 
 Achieved/ 
 Payout    |
|:------------------|:----|:-------------|:----|:-------------------------|---------:|:----|:--|---------------:|:----|:----------|:----|:--------------------------|---------:|:----|:--|-------------------:|:----|:----------|
| Threshold**       |     | 25%          |     | $                        |    315.0 |     | $ |          372.5 |     | 84.4%     |     | $