Company: THRM
Filing Date: 2025-03-27
Form Type: DEF 14A
Source: 0001140361-25-010582
Chunk: 0

Company: Gentherm Inc
Filing Date: 2025-03-27
Form: DEF 14A
Chunk 0
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UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 SCHEDULE 14A Proxy Statement Pursuant to Section 14(a) of the Securities Exchange Act of 1934 (Amendment No. ) Filed by the Registrant ☒ Filed by a Party other than the Registrant ☐ Check the appropriate box:

| ☐ | Preliminary Proxy Statement |

| ☐ | Confidential, for Use of the Commission Only (as permitted by Rule 14a-6(e)(2)) |

| ☒ | Definitive Proxy Statement |

| ☐ | Definitive Additional Materials |

| ☐ | Soliciting Material under §240.14a-12 |

| Gentherm Incorporated                                                    |
| (Name of registrant as Specified In Its Charter)                         |
| (Name of Person(s) Filing Proxy Statement, if other than the Registrant) |

Payment of Filing Fee (Check all boxes that apply):

| ☒ | No fee required. |

| ☐ | Fee paid previously with preliminary materials. |

| ☐ | Fee computed on table in exhibit required by Item 25(b) per Exchange Act Rules 14a-6(i)(1) and 0-11. |

March 27, 2025 Dear Gentherm Shareholders: On behalf of the Board of Directors, I invite you to attend the 2025 annual meeting of shareholders on Thursday, May 8, 2025, at 8:30 a.m., Eastern time. The annual meeting will be held in a virtual-only format to provide broad access for shareholders and employees. We encourage you to submit your proxy vote in advance of the meeting by following the instructions on the accompanying proxy card. 2024 In Review In 2024, the global Gentherm team continued the strong execution of its strategy under former CEO, Phillip Eyler’s leadership. We recorded over $2 billion in automotive new business awards for the second consecutive year, including breakthrough awards for several new, innovative products, Puls.A™ and ComfortScale™. Further, we achieved record Adjusted EBITDA of $183 million in 2024 and expanded Adjusted EBITDA margins by 30 basis points compared to the prior year, despite a modest decrease in revenue and a continued challenging automotive light vehicle production environment. Going forward, the Company remains committed to driving continued profitability improvements over the long term. Finally, the Company’s balance sheet remained strong with net leverage of approximately 0.