Company: CVGI
Filing Date: 2025-04-04
Form Type: PRE 14A
Source: 0001628280-25-016847
Chunk: 52

Company: Commercial Vehicle Group, Inc.
Filing Date: 2025-04-04
Form: PRE 14A
Chunk 52
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, 2024.

Annual Incentive Compensation

Annual incentive compensation, payable under the Bonus Plan, is designed to reward NEOs for the achievement of financial targets tied to our annual business plan. Target annual incentive award opportunities are determined as a percentage of each NEO’s salary for the fiscal year and are tied to the achievement of predetermined financial performance targets, with the Committee having the discretion to increase or decrease individual awards based on the performance and contributions of each NEO.

On March 6, 2024, the Committee approved 2024 financial performance goals for the Commercial Vehicle Group Bonus Plan (the "Bonus Plan") based on our business plan and strategic objectives.

The 2024 target award opportunity under our Bonus Plan for our NEOs was as follows:

| NEO         |     | Percentage of Salary |
| Mr. Ray     |     | 100%                 |
| Mr. Cheung  |     | 65%                  |
| Mr. Mohamed |     | 75%                  |
| Ms. Mathers |     | 60%                  |
| Mr. Tajer   |     | 70%                  |

The Committee adopted objective financial performance metrics for the Bonus Plan, including New Revenues, Operating Income Margin, and Operating Working Capital as a Percent of Sales. New Revenue correlates to the emphasis the Company's business plan places on diversified top-line growth. Operating Income Margin was selected based on the high

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correlation to Total Stockholder Return. Operating Working Capital as a Percent of Sales was selected to encourage the efficient and profitable use of capital in business operations. Performance metrics were established on a consolidated basis to promote high level collaboration across the enterprise. As shown below, 60% of the original total award opportunity for our NEOs was tied to consolidated profitability, as measured by corporate Operating Income Margin. The 2024 performance metrics and weighting are illustrated below.

The Committee also approved 2024 threshold, target, and superior performance goals, and corresponding award opportunities for the Bonus Plan. The following table summarizes the consolidated performance goals and actual performance for 2024.

| 2024 Bonus Plan Performance                            |     |           |     |        |     |          |     |        |
| Consolidated Metric (Weighting)                        |     | Threshold |     | Target |     | Superior |     | Actual |
| Operating Income Margin (60%)                          |     | 1.9%      |     | 2.9%   |     | 3.9