Company: ABM
Filing Date: 2025-02-14
Form Type: DEF 14A
Source: 0000950170-25-020776
Chunk: 42

Company: ABM INDUSTRIES INC /DE/
Filing Date: 2025-02-14
Form: DEF 14A
Chunk 42
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| Joshua H. Feinberg(1) | Financial Objectives | 70%       | 120.6%                        | 84.4%    |    $525,000 |        $633,302 |
|                       | Safety Objectives    | 10%       | 118.0%                        | 11.8%    |     $75,000 |         $88,500 |
|                       | Personal Objectives  | 20%       | 100.0%                        | 20.0%    |    $150,000 |        $150,000 |
|                       | Total                | 100%      |                               | 116.2%   |    $750,000 |        $871,802 |

(1) Pursuant to his Separation Agreement, Mr. Feinberg remained eligible to earn his annual cash incentive award under the CIP for fiscal year 2024 based on the Company’s performance for the entire fiscal year (with his Personal Objectives deemed earned at target).

Equity Incentive Compensation

Annual Equity Awards

The Committee believes that a long-term incentive program motivates and rewards our executive officers for their contributions to our Company’s performance and serves to align long-term compensation with the performance of Company stock. In fiscal year 2024, the Committee approved a long-term compensation program for our NEOs which included equity awards allocated among (i) time-based RSUs (40% of total equity grant at target), which vest ratably over a three-year period, and (ii) PSs with a TSR-modifier (“2024-2026 TSR-Modified Performance Shares”) (60% of total equity grant at target), which are based on Company financial metrics, M&A adjusted EBITDA (as originally approved by the Committee on the grant date) (“M&A adjusted EBITDA”) (75% weighting) and adjusted revenue (25% weighting) (the definitions for such metrics are set forth in Appendix C). Such 2024-2026 TSR-Modified Performance Shares will vest, if earned, based on the average funding of three, one-year performance periods (November 1, 2023 – October 31, 2024; November 1, 2024 – October 31, 2025; and November 1, 2025 – October 31, 2026). The payout for year one will be based on performance against the Company’s budget, with years two and three based on actual