Company: PRGO
Filing Date: 2025-03-10
Form Type: PRE 14A
Source: 0000950170-25-035751
Chunk: 30

Company: PERRIGO Co plc
Filing Date: 2025-03-10
Form: PRE 14A
Chunk 30
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 (Fixed)          |     | Provides a competitive rate of fixed compensation relative to similar positions at relevant peer companies that enables us to attract and retain critical executive talent.                             |
| AIP         |     | Cash(Variable)   |     | Focuses executives on achieving measurable, annual financial, operational, and strategic goals that, in the aggregate, create long-term, sustainable shareholder value.                                 |
| LTIP        |     | Equity(Variable) |     | Provides incentives for executives to execute on long-term financial/strategic growth goals that drive shareholder value creation and support our long-range talent development and retention strategy. |

The charts below show the target compensation of our CEO and NEOs for fiscal year 2024. These charts illustrate that a majority of NEO compensation is performance-based and/or variable (85% for our CEO and an average of 74% for our other NEOs). The weighting of these pay elements is consistent with the market and best practices and puts a substantial

#### 26PERRIGO•2025 PROXY STATEMENT
Executive Compensation

majority of the NEOs’ total direct compensation at risk if performance goals are not achieved or if Perrigo performance declines.

*CEO Compensation displayed is for Patrick Lockwood-Taylor

The Decision-Making Process

The Role of the Talent & Compensation Committee:The TCC, which is composed entirely of independent directors, oversees our executive compensation program. The TCC works very closely with FW Cook, its independent executive compensation consultant, and management to examine the efficacy of Perrigo’s executive compensation program. Details of the TCC’s authority and responsibilities are specified in the TCC’s charter, which may be accessed on our website (www.Perrigo.com) under the heading Investors - Corporate Governance - Committees.

Each year, the TCC reviews and approves the elements of compensation for all executive officers, including the NEOs. The TCC submits its recommendations regarding the CEO’s compensation to the independent directors of the Board for approval.

To assist it in making compensation decisions, the TCC annually reviews comprehensive historical, current and projected data on the total compensation and benefits package for each of our NEOs. As needed, additional analyses for various termination events are provided (including terminations with and without cause and for death, disability, retirement or following a change in control) so that the TCC can consider and understand the nature and magnitude of potential payouts and obligations under the various circumstances. The information is prepared by management and reviewed by FW Cook, generally containing data that are substantially similar to