Company: ABM
Filing Date: 2025-02-14
Form Type: DEF 14A
Source: 0000950170-25-020776
Chunk: 58

Company: ABM INDUSTRIES INC /DE/
Filing Date: 2025-02-14
Form: DEF 14A
Chunk 58
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 a change-in-control, resignation or retirement, termination without cause, and death or disability, assuming the termination occurred on October 31, 2024.

Effective October 31, 2024, Mr. Feinberg was involuntarily terminated without cause. He ceased serving in his position as Executive Vice President and Chief Strategy and Transformation Officer on July 21, 2024, and subsequently remained an employee of the Company, serving in the non-executive role of Senior Advisor from July 22, 2024 through October 31, 2024 (the “Separation Date”). In connection with his termination and following his execution and non-revocation of a release of claims against the Company, in accordance with the terms and conditions of his Executive Employment Agreement with

42ABM Industries Incorporated 2025 Proxy Statement

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the Company, Separation Agreement, and applicable equity award documents, and subject to Code Section 409A, Mr. Feinberg received or will receive the following payments and benefits: (i) cash payment of $2,700,000 (representing two times base salary and target bonus), to be made in equal installments over the 24-month period following the Separation Date; (ii) eligibility to earn his annual cash incentive award under the CIP for fiscal year 2024 based on the Company’s performance for the entire fiscal year (with his Personal Objectives deemed earned at target) (earned and paid in the amount of $871,802); (iii) continued vesting of outstanding RSUs until the Separation Date; (iv) continued vesting of outstanding PSs until the Separation Date (2022 PSs were earned and paid on a pro-rata basis in January 2025 (10,899 shares) and 2023 PSs will be paid on a pro-rata basis, if earned in January 2026, in each case, based on his service with the Company during the performance period). Pursuant to the Separation Agreement, Mr. Feinberg remains subject to the restrictive covenants in his Employment Agreement, including 12-month non-competition and non-solicitation of employees and customers provisions, and confidentiality obligations.

Ms. Newborn retired from the Company, effective February 1, 2025. She ceased serving as an executive officer of the Company effective January 1, 2025. Pursuant to the terms of her equity award agreements, Ms. Newborn’s outstanding equity awards granted more