Company: GWW
Filing Date: 2025-02-20
Form Type: PRE 14A
Source: 0001104659-25-015730
Chunk: 104

Company: W.W. GRAINGER, INC.
Filing Date: 2025-02-20
Form: PRE 14A
Chunk 104
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 adjusted return on invested capital (ROIC) of 41.6% and returned over $1.6 billion to Grainger shareholders through dividends and share repurchases. (1) • Direct Link to Strategy: NEO pay is tied to near- and long-term strategic objectives with the long-term incentive directly tied to gaining share in our High-Touch Solutions—U.S. business and propelling daily sales growth in our Endless Assortment segment over the next several years and our annual incentive program provided NEOs incentives to grow the business (sales growth) while achieving investment returns for the Company’s shareholders (ROIC). We are asking our shareholders to vote “FOR” the approval of the compensation of the Company’s NEOs, as disclosed in the Compensation Discussion and Analysis section of this proxy statement, including the related tables, notes and narrative. While this Say on Pay vote is advisory and non-binding, the Board and the Compensation Committee of the Board, which is comprised of independent Directors, value the opinions expressed by our shareholders and will consider the outcome of this Say on Pay vote when making future compensation decisions regarding the NEOs. This Say on Pay vote is intended to address the 2024 compensation of the NEOs as disclosed in the “Compensation Discussion and Analysis” as a whole rather than any specific item or amount of executive compensation. Approval of the proposal requires the affirmative vote of a majority of the shares of Grainger common stock present or represented by proxy and entitled to vote at the 2024 Annual Meeting. Abstentions will have the same effect as votes against the proposal. Broker non-votes will not affect the outcome of the vote. The Company is required to seek a shareholder vote on the frequency of the advisory Say on Pay vote (the “SOP Frequency Vote”) every six years. In 2023, management recommended an annual advisory Say on Pay vote. The next SOP Frequency Vote is expected to be held at our 2029 annual meeting of shareholders.

(1) See Appendix B of this proxy statement for information regarding compensation and non-GAAP financial measures, including a reconciliation of non-GAAP financial measures to the most directly comparable GAAP financial measures.

| ​ | CORPORATEGOVERNANCE | ​ | ​ | PROPOSAL 1:ELECTION OFDIRECTORS | ​ | ​ | PROPOSAL 2:RATIFY THEINDEPENDENTAUDITOR | ​ | ​ | EXECUTIVECOMPENSATION | ​ | ​ | PROPOSAL 3:SAY ON PAY | ​ | ​ |