Company: JBI
Filing Date: 2025-04-10
Form Type: PRE 14A
Source: 0001140361-25-013248
Chunk: 56

Company: Janus International Group, Inc.
Filing Date: 2025-04-10
Form: PRE 14A
Chunk 56
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TABLE OF CONTENTS

EXECUTIVE AND DIRECTOR COMPENSATION COMPENSATION DISCUSSION AND ANALYSIS Overview This Compensation Discussion and Analysis provides a detailed description of our executive compensation philosophy and programs, the compensation decisions the Compensation Committee of the Board has made under those programs with respect to the “named executive officers” listed below, and the factors considered in making those decisions. For the 2024 fiscal year, our named executive officers and their positions were as follows:

| • | Ramey Jackson, Chief Executive Officer and Director; |

| • | Anselm Wong, Executive Vice President and Chief Financial Officer; |

| • | Morgan Hodges, Executive Vice President; |

| • | Vic Nettie, Vice President of Manufacturing; and |

| • | Elliot Kahler, General Counsel and Corporate Secretary. |

This Compensation Discussion and Analysis may contain forward-looking statements that are based on our current plans, considerations, expectations and determinations regarding future compensation programs. Actual compensation programs that we adopt in the future may differ materially from the currently anticipated programs summarized in this discussion. Operational and Financial Performance Summary Financial (1) In 2024, our revenue was $963.8 million compared to revenue of $1,066.4 million in 2023. We had net income of $70.4 million and Adjusted EBITDA of $208.5 million in 2024, as compared to net income of $135.7 million and Adjusted EBITDA of $285.6 million in 2023. Our results for 2024 reflect a decline in volume resulting primarily from project deferrals based on macroeconomic uncertainty and the challenging interest rate environment. Financial and macroeconomic conditions caused certain of our customers to slow or delay spending on our offerings, which despite independent demand drivers within the self-storage industry, led to softer demand. We have implemented various initiatives to manage these adverse impacts, which include enhancements in our operational processes through our structural cost reduction program, investments in our Nokē Smart Entry platform and core product development, and continued focus on our accretive acquisition strategy. Financial achievements for 2024 included the following:

| • | Announced a structural cost reduction program to improve operational efficiencies and to further support our corporate strategy. |

| • | Generated cash flows from operations of $154.0 million and free cash flow of $133.9 million. |

| • | Completed a voluntary pay down of $21.9 million toward our debt and successfully repriced our term loan, which reduced