Company: PRGO
Filing Date: 2025-03-21
Form Type: DEF 14A
Source: 0000950170-25-042897
Chunk: 6

Company: PERRIGO Co plc
Filing Date: 2025-03-21
Form: DEF 14A
Chunk 6
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&S).

Overall, our performance fell short of our net sales, earnings, cash flow and gross margin targets in the Annual Incentive Plans or " AIP ". Payouts are below 100% of target, varying based on individual performance multipliers.

The three-year cumulative payout for the 2022-2024 currency-neutral Adjusted Operating Income used for Performance Share Units (“ PSU OI ”) was 118% of target. Please see detailed explanation on page 37.

The three-year cumulative payout for the 2022-2024 Relative Total Shareholder Return Performance Share Units (“ rTSR-PSUs ”) was 0% of target.

In 2024, the Talent & Compensation Committee (" TCC ") changed the design of the PSU OI component of our Long-Term Incentive Plan "(" LTIP ") to measure three-year cumulative Adjusted Operating Income, rather than measuring year-over-year growth over each of the three years in the performance period. The TCC maintained the LTIP grant-type mix, and in 2024, NEOs were granted annual LTIP awards allocated 50% to PSU OI earned based on achievement of three-year cumulative Adjusted Operating Income goals, 20% to rTSR-PSUs earned based on our relative Total Shareholder Return (“ rTSR ”) performance versus the constituents of the S&P 500 over three years, and 30% to Restricted Stock Units (“ RSUs ”) vesting over three years—meaning that 70% of our Executives’ Target Long-Term Incentive (“ LTI ”) compensation is subject to performance hurdles in order to vest.

#### viPERRIGO•2025 PROXY STATEMENT
Proxy Summary

Questions and Answers and Voting Information

Please see the Questions and Answers and Voting Information section beginning on page 86 for important information about voting, the proxy materials and deadlines for submitting shareholder proposals and director nominees for the 2026 Annual General Meeting of Shareholders. Additional questions may be directed to Perrigo Company plc, Attn: General Counsel, Sharp Building, Hogan Place, Dublin 2, D02 TY74, Ireland or GeneralMeeting@perrigo.com.

#### PERRIGO•2025 PROXY STATEMENTvii
| Corporate Governance |

Corporate Governance General We manage our business under the direction of our Board of Directors. The CEO is a member of, and reports directly to, our Board, and members of our ELT regularly advise our Board on those business segments for