Company: PLPC
Filing Date: 2025-03-21
Form Type: DEF 14A
Source: 0001628280-25-014223
Chunk: 18

Company: PREFORMED LINE PRODUCTS CO
Filing Date: 2025-03-21
Form: DEF 14A
Chunk 18
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ing when comparing total compensation to the Peer Group because of the experience level and tenure of certain executives and a significant portion is tied to the Company’s performance, which can cause a great variation relative to the amounts paid by comparable companies with different performance results. As a result, the Committee considers the total compensation paid by other companies in the Peer Group to ensure that the Company’s pay is competitive and to assess whether its payout levels for strong performance represent an incentive to achieve such performance. For 2024 , total compensation of the officers was found to align near the median depending on the actual payout to be achieved. 3. Results of 2023 Say on Pay Vote and the Say on Frequency Vote . The 2023 annual meeting included a non-binding advisory “say on pay” vote on executive compensation and a non-binding advisory “say-on-frequency” vote regarding the frequency at which the Company will ask its shareholders to provide the advisory vote on executive compensation. Although these votes were non-binding, the Board of Directors and the Committee value the opinions of the shareholders and consider the outcome of the say on pay vote when making compensation decisions for the NEOs. The Company’s compensation program received an affirmative vote from over 97% of the Company’s common shares who voted at the 2023 a nnual meeting and the Board and the Committee have considered this perspective with respect to executive compensation decisions. Additionally, the shareholders approved holding the vote on the compensation of the NEOs every three years. 4. Discussions with the Executive Chairman . The Executive Chairman performs a yearly evaluation of the performance of each officer. The Executive Chairman's assessment of each officer’s individual performance forms the basis for the proposed compensation levels of each officer (other than the Executive Chairman), while also considering the information derived from the Willis Towers Watson survey. The Executive Chairman provides an evaluation for each officer (other than the Executive Chairman) that includes his recommendations for salary adjustments for the subsequent year to the Committee, which weighs these recommendations in determining salary levels of the officers (other than the Executive Chairman). Compensation Elements . The Company recognizes that its success depends, in large part, on a leadership team with the skills and commitment necessary to successfully manage a global organization. The compensation program assists in achieving this objective by relying on the elements of compensation detailed below. Certain elements are designed to enable the Company to attract and retain the officers with the skills to anticipate and respond to the market, while other elements are intended to motivate the officers to achieve financial results to enhance shareholder value. The Company’s 2024 compensation program