Company: NPO
Filing Date: 2025-03-24
Form Type: DEF 14A
Source: 0001171200-25-000088
Chunk: 25

Company: Enpro Inc.
Filing Date: 2025-03-24
Form: DEF 14A
Chunk 25
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 calculated by taking adjusted operating income multiplied by the difference between 1 minus the tax rate (expressed       
 as a fraction) then adding depreciation and amortization expense and subtracting each of the amount of capital expenditures and        
 the change in average net working capital for the trailing twelve months, with such amount then divided by the sum of average          
 working capital, average gross property, plant and equipment and average gross software investment. The Committee believes adjusted    
 EBITDA and Cash Flow ROIC are the most appropriate measures of the annual operating performance of our businesses and that performance 
 on these measures, over time, are primary drivers of company value. Adjusted EBITDA, adjusted operating income and Cash Flow ROIC      
 are not financial measures under generally accepted accounting principles (“GAAP”). Reconciliations of adjusted EBITDA                 
 and adjusted operating income to the comparable GAAP measures and the calculation of Cash Flow ROIC are presented in Appendix          
 A to this proxy statement.                                                                                                             |

The plan payouts at the target performance level, as a percentage of base salary, and the actual payout as a percentage of salary for the named executive officers were as set forth below. Due to his retirement, Mr. Childress received a prorated payout under our annual performance plan based on his period of service in 2024.

|              | Target               
 Payout, as           
 Percentage of Salary | Actual               
 Payout, as           
 Percentage of Salary |
| Vaillancourt | 100%                 | 129.3%               |
| Bruderek     | 70%                  | 90.5%                |
| McLean       | 60%                  | 77.6%                |
| Bower        | 45%                  | 58.2%                |
| Joiner       | 50%                  | 64.7%                |
| Childress    | 70%                  | 90.5%                |

Target award levels set by the Committee for the named executive officers were based on historical award levels, a review of the Pearl Meyer market studies and management recommendations. To set 2024 performance levels, the Committee reviewed a top-down estimate of our performance for the year based on management’s expectations for each of our markets and a bottom-up review of each division’s strategy and forecast for its performance. The Committee evaluated these internal estimates against external expectations for the performance of our markets and then set our goals for the year. For 2024, our adjusted EBITDA was $258.8 million