Company: GGG
Filing Date: 2025-03-12
Form Type: DEF 14A
Source: 0001193125-25-052581
Chunk: 36

Company: GRACO INC
Filing Date: 2025-03-12
Form: DEF 14A
Chunk 36
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 award. Based on the process described above for setting long-term incentive awards, Mr. Sheahan received a stock option award of 189,910 shares in February 2024. 27 Graco Inc. 2025 Proxy Statement

David M. Lowe Chief Financial Officer and Treasurer Mr. Lowe’s base salary as of December 2023 was below the median of the Graco Peer Group. In December 2023, the MOCC approved a base salary increase of 6% to $476,360 based on Mr. Lowe’s relative position in the market and individual performance. Based on 2024 corporate Net Sales and corporate Incentive EPS performance, Mr. Lowe received a $39,930 bonus payment under the Incentive Bonus Plan. Mr. Lowe’s bonus payout represented 12% of his target award. Based on the process described above for setting long-term incentive awards, Mr. Lowe received a stock option award of 32,800 shares in February 2024. Dale D. Johnson Chief Commercial Development Officer Mr. Johnson’s base salary as of December 2023 was above the median of the 2023 Willis Towers Watson survey data. In December 2023, the MOCC approved a base salary increase of 4% to $589,100 based on Mr. Johnson’s relative position in the market and individual performance. Based on 2024 corporate Net Sales, corporate Incentive EPS, worldwide Contractor Equipment Division Net Sales, and worldwide Contractor Equipment Division Incentive EPS performance, Mr. Johnson received a $91,486 bonus payment under the Incentive Bonus Plan. Mr. Johnson’s bonus payout represented 22% of his target award. Based on the process described above for setting long-term incentive awards, Mr. Johnson received a stock option award of 17,260 shares in February 2024. Peter J. O’Shea President, Global Industrial Division Mr. O’Shea’s base salary as of December 2023 was near the median of the 2023 Willis Towers Watson survey data. In December 2023, the MOCC approved a base salary increase of 10% to $395,500 based on Mr. O’Shea’s relative position in the market and individual performance. Based on 2024 corporate Net Sales, corporate Incentive EPS, worldwide Lubrication Equipment Division Net Sales, worldwide Lubrication Equipment Division Incentive EPS, South and Central America Regional Net Sales, and South and Central America Regional Incentive EPS performance,