Company: ASTE
Filing Date: 2025-03-14
Form Type: DEF 14A
Source: 0001104659-25-023778
Chunk: 94

Company: ASTEC INDUSTRIES INC
Filing Date: 2025-03-14
Form: DEF 14A
Chunk 94
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 receipt of shares of stock (or the equivalent value in cash) in settlement of a stock unit award, a participant will recognize ordinary income equal to the fair market value of the stock or other property as of that date (less any amount he or she paid for the stock or property), and the Company will be allowed a corresponding federal income tax deduction at that time, subject to any applicable limitations under Code Section 162(m) Cash-Based Awards. A participant will not recognize income, and the Company will not be allowed a tax deduction, at the time a cash-based award is granted (for example, when the performance goals are established). Upon receipt of cash in settlement of the award, a participant will recognize ordinary income equal to the cash TABLE OF CONTENTS 68 Astec Industries, Inc. | Notice of Annual Meeting and Proxy Statement 2025 received, and the Company will be allowed a corresponding federal income tax deduction at that time, subject to any applicable limitations under Code Section 162(m). Tax Withholding . The Company has the right to deduct or withhold, or require a participant to remit to the Company, an amount sufficient to satisfy federal, state, and local taxes (including employment taxes) required by law to be withheld with respect to any exercise, lapse of restriction or other taxable event arising as a result of the 2025 Equity Incentive Plan. Benefits to Named Executive Officers and Others As of March 14, 2025, no awards had been granted under the 2025 Equity Incentive Plan. Awards will be made at the discretion of the Committee or pursuant to delegated authority. Therefore, it is not presently possible to determine the benefits or amounts that will be received by the Company’s executive officers, directors and other employees pursuant to the 2025 Equity Incentive Plan in the future. THE BOARD OF DIRECTORS RECOMMENDS THAT SHAREHOLDERS VOTE “FOR” THE APPROVAL OF THE ASTEC INDUSTRIES, INC. 2025 EQUITY INCENTIVE PLAN.

TABLE OF CONTENTS 69 Astec Industries, Inc. | Notice of Annual Meeting and Proxy Statement 2025 STOCK OWNERSHIP OF
CERTAIN BENEFICIAL
OWNERS AND MANAGEMENT The following table sets forth certain information known to us with respect to beneficial ownership of Company’s Common Stock as of February 27, 2025, by the following individuals or groups: ● each of our current directors, nominees for director, and Named Executive Officers individually; ● all our directors and executive officers as