Company: NC
Filing Date: 2025-04-07
Form Type: DEF 14A
Source: 0000789933-25-000012
Chunk: 20

Company: NACCO INDUSTRIES INC
Filing Date: 2025-04-07
Form: DEF 14A
Chunk 20
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 2024, the results of management's assessment of the effectiveness of the Company's internal control over financial reporting and EY's audit of internal control over financial reporting.

In reliance on the reviews and discussions referred to above, the Audit Review Committee recommended to the Board, and the Board has approved, that the audited financial statements and management's assessment of the effectiveness of the Company's internal control over financial reporting be included in our Annual Report on Form 10-K for the year ended December 31, 2024, filed by the Company with the SEC.

#### ROBERT S. SHAPARD,

#### Chairman

#### JOHN S. DALRYMPLE, III JOHN P. JUMPER

#### DENNIS W. LABARRE MICHAEL S. MILLER

#### LORI J. ROBINSON
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| PART II - EXECUTIVE COMPENSATION INFORMATION |

| Compensation Discussion and Analysis |

In this section, we describe the material components of our executive compensation program for our named executive officers ("NEOs"). The compensation provided to our NEOs for the year ended December 31, 2024 is set forth in detail in the Summary Compensation Table and the other tables that follow this Compensation Discussion and Analysis. The following discussion provides an overview of our executive compensation philosophy, the overall objectives of our NEO compensation program, and each component of compensation that we provide to our NEOs.

For 2024, the Company qualifies as a smaller reporting company under the SEC's amended definition of "smaller reporting company." The Company has, nonetheless, chosen to provide many of the compensation-related disclosures that are required for larger public companies and that the Company has historically provided. However, the Company is disclosing compensation for only three NEOs, only two years of compensation data in the Summary Compensation Table, and only three years of data in the Pay versus Performance Table, consistent with the disclosure requirements applicable for smaller reporting companies.

The Company did not make significant changes to the performance metrics for either the short-term incentive plan or the long-term incentive plan for 2024.

#### Named Executive Officers for 2024
| The NEOs for 2024 are: |     |                                                |     |                                                      |
| J.C. Butler, Jr.       |     | Carroll L. Dewing                              |     | John D. Neumann                                      |
| President and CEO      |     | Senior Vice President, Chief Operating Officer |     | Senior Vice President, General Counsel and Secretary |

#### Compensation