Company: ONEW
Filing Date: 2025-01-10
Form Type: DEF 14A
Source: 0001772921-25-000007
Chunk: 32

Company: OneWater Marine Inc.
Filing Date: 2025-01-10
Form: DEF 14A
Chunk 32
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 8% to $1.77 billion

• Same-store sales decreased 7%

• Net loss decreased to a loss of $(6) million or $(0.39) per diluted share

• Adjusted EBITDA decreased 53% to $82 million

During fiscal year 2024, the Company navigated a challenging retail environment as consumer behavior and industry inventory reset. Additionally, the Company closed out fiscal year 2024 with Hurricane Helene striking the West Coast of Florida and causing extensive damage. During fiscal year 2024, the Company was able to leverage its revenue and brand diversification, coupled with its geographic reach, to help mitigate the impact of macroeconomic uncertainty and severe weather and outperform the industry.

We define Adjusted EBITDA as net income (loss) before interest expense - other, income tax expense (benefit), depreciation and amortization and other (income) expense, further adjusted to eliminate the effects of items such as the change in fair value of contingent consideration, loss on extinguishment of debt, stock based compensation, impairment and restructuring, and transaction costs. See Appendix A for more information and a reconciliation of Adjusted EBITDA to net income (loss), the most directly comparable financial measure calculated and presented in accordance with GAAP.

Compensation Objectives . The objectives of the compensation program for our Named Executive Officers are to attract, motivate and retain talented individuals who are committed to achieving our long-term strategic objectives, which include attracting and retaining top talent in our leadership positions, motivating our Named Executive Officers to deliver an exceptional level of individual and team performance results, and rewarding high levels of performance with proportionate levels of compensation. Our compensation program is designed to align the incentives of our Named Executive Officers with our stockholders’ interests, and to promote the achievement of key corporate performance measures.

20

Summary of Executive Compensation Practices . We strive to maintain judicious governance standards and compensation practices by regularly reviewing best practices in our industry. As in prior years, we incorporated many of these best practices into our 2024 executive compensation program, including the following:

| What We Do |     |                                                                                                                               |     | What We Don’t Do |     |                                                                                                                                                                                                                                                      |
| ✔          |     | We align our executive pay with long-term Company performance                                                                 |     | ✘                |     | We do not automatically increase salaries each year or make lock-step changes in compensation based on peer group compensation levels or metrics                                                                                                     |
| ✔          |     | We align our executives’ interests with those