Company: TJX
Filing Date: 2025-05-01
Form Type: DEF 14A
Source: 0000109198-25-000024
Chunk: 87

Company: TJX COMPANIES INC /DE/
Filing Date: 2025-05-01
Form: DEF 14A
Chunk 87
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 TABLE
As discussed in the CD&A, the Company’s executive compensation program emphasizes long-term incentives and a mix of objective financial performance goals that seek to balance growth, profitability, and returns. As a result, any single measure of Company performance for a particular year or period will not necessarily align with CAP as calculated under SEC rules. In addition, the Compensation Committee's executive compensation oversight process includes information and advice from its independent compensation consultant about the relationships between pay and performance relative to peers, using a range of financial performance metrics over multiple time periods, as described in the CD&A.

For the periods shown in the Pay Versus Performance table, changes in CAP were primarily driven by equity award values, including changes in stock price for previously-granted equity awards and changes in probable outcomes of performance conditions for previously-granted PSUs. In accordance with SEC rules, the Company is providing the following descriptions of the relationships between information presented in the Pay Versus Performance table.

CAP and Cumulative TSR: PEO CAP and average NEO CAP varied over the five years presented in the table, while our cumulative TSR increased over this same period. Although we did not use TSR as a financial performance measure within our incentive plans for the years presented in the table, long-term equity incentives under the SIP have been the largest component of total target compensation for our CEO and other NEOs for many years and the value of our long-term equity incentives is designed to align with our TSR performance during each applicable award period.

CAP and Net Income: PEO CAP and average NEO CAP varied over the five years presented in the table, while our net income increased over this same period. Although net income is a profit measure that is similar to Incentive Pre-Tax Income and Incentive EPS, we did not use net income as a financial performance measure within our incentive plans for the years presented in the table. Accordingly, there is not a direct relationship between CAP and our net income.

CAP and MIP Incentive Pre-Tax Income: A portion of PEO CAP and average NEO CAP reflects payouts under our MIP for the applicable fiscal year, including amounts based on MIP Incentive Pre-Tax Income for FY25, FY24, FY23, and FY22, as discussed in the CD&A and in our 2022, 2023, and 2024 proxy statements. Although we used Incentive Pre-Tax Income as the primary metric in our annual MIP program for FY25, FY24, FY23, and FY22, the primary