Company: GWW
Filing Date: 2025-02-20
Form Type: PRE 14A
Source: 0001104659-25-015730
Chunk: 29

Company: W.W. GRAINGER, INC.
Filing Date: 2025-02-20
Form: PRE 14A
Chunk 29
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, Lake Forest, Illinois 60045-5201. Business Conduct Guidelines Grainger has adopted Business Conduct Guidelines for Directors, officers and employees, which incorporate the Code of Ethics required by the SEC as applicable to the chief executive officer, chief financial officer, and chief accounting officer or controller. In 2024, the Board updated the Business Conduct Guidelines to incorporate Grainger’s Government Code of Ethics Policy, enhance the provisions regarding political donations and conflicts of interest, and establish parameters on the use of artificial intelligence. The Company provides annual Business Conduct Guidelines training and all Directors, officers and employees are required to certify annually that they have read, understand and are in compliance with the Business Conduct Guidelines. Our Business Conduct Guidelines are posted in the “Governance” section on Grainger’s website at http://invest.grainger.com . Operating Principles for the Board of Directors Grainger also has adopted Operating Principles for the Board of Directors, which represents its corporate governance guidelines. The Operating Principles are available under “Governance” in the Investor Relations section of our website at http://invest.grainger.com . Committee Charters The charters, as adopted by the Board and amended from time to time, of the Audit Committee, the BANC, and the Compensation Committee are available under “Governance” in the Investor Relations section of our website at http://invest.grainger.com.

| ​ | CORPORATEGOVERNANCE | ​ | ​ | PROPOSAL 1:ELECTION OFDIRECTORS | ​ | ​ | PROPOSAL 2:RATIFY THEINDEPENDENTAUDITOR | ​ | ​ | EXECUTIVECOMPENSATION | ​ | ​ | PROPOSAL 3:SAY ON PAY | ​ | ​ | PROPOSAL 4: APPROVALAND ADOPTION | ​ | ​ | QUESTIONS ANDANSWERS | ​ | ​ | APPENDICES | ​ |

TABLE OF CONTENTS

| ​ | invest.grainger.com | ​ | ​ | 29 | ​ | ​ | ● | ​ |

Director Compensation Grainger’s non-employee Directors each receive an annual cash retainer of $115,000 and an annual deferred stock unit (“DSU”) grant of $175,000. The Lead Director and Directors serving as Committee Chairs receive an additional annual cash retainer. Grainger aims to compensate its non-employee Directors at a level that approximates median market practice. In benchmarking Director pay, Grainger uses the same compensation comparator group as used to benchmark compensation for Grainger’s executives as described