Company: THRM
Filing Date: 2025-03-27
Form Type: DEF 14A
Source: 0001140361-25-010582
Chunk: 6

Company: Gentherm Inc
Filing Date: 2025-03-27
Form: DEF 14A
Chunk 6
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, securities trading policy and prohibition on pledging/hedging of equity)                                                       |

Eyler Departure . Following the implementation of the Company’s planned transition process effective December 31, 2024, Mr. Eyler entered into a Separation and Consulting Agreement that confirmed specified severance and related benefits from his employment agreement. See “Named Executive Officer Compensation Tables—Potential Payments Upon Termination or Change in Control at December 31, 2024.” 6 | 2025 PROXY STATEMENT

2024 NEO Compensation Program Design In the first quarter of 2024, the Compensation and Talent Committee approved the design of our 2024 NEO compensation program. The Committee approved revisions to the incentive plans that continue the journey of balancing shareholder interests in an environment of continued macroeconomic, geopolitical and industry volatility by reducing the number of metrics and the duplication of metrics. This change allows the management team to focus on core financial metrics that bring shareholder value over the short- and long-term. 2024 Bonus Plan (% Weighted)

In designing the 2024 Senior Level Bonus Program, the Compensation and Talent Committee determined to reduce the amount metrics and the duplication of metrics between the different components of the executive compensation program. Each of the performance goals payout independently, with a maximum 200% payout individually and in aggregate. 2024 Equity Awards – Target PSUs (Weighted as $ of Grant Value) In establishing the 2024 long-term incentive program, the Compensation and Talent Committee determined to streamline the number of performance metrics comprising the program, while adding a modifier to address relative stock price alignment. Each of the performance goals payout independently, with a maximum 200% payout individually and 250% in aggregate.

| Relative TSR modifier has the potential 
 to impact overall performance +/- 25%   |

7 | 2025 PROXY STATEMENT PROPOSAL NO. 3 –RATIFICATION OF APPOINTMENT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM, ERNST & YOUNG, FOR 2025 Continued Effective Collaboration with Audit Committee in Financial Statements, Internal Controls and Related Risk Management

| Board Recommendation | Proposal Pages |

| FORapproval of ratification of EY appointment | 101-103 |

At the annual meeting, the Board is asking our shareholders to ratify the appointment of Ernst & Young LLP (“Ernst & Young”) as the Company’s independent registered public accounting firm for 2025. The Audit Committee conducted a competitive process to select the Company’s independent registered public accounting firm for the Company’s