Company: ACCO
Filing Date: 2025-03-28
Form Type: DEF 14A
Source: 0000950170-25-046374
Chunk: 20

Company: ACCO BRANDS Corp
Filing Date: 2025-03-28
Form: DEF 14A
Chunk 20
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 lower incentive compensation expense and improved product mix.

Net loss was $101.6 million, or $(1.06) per share in 2024, compared with a net loss of $21.8 million, or $(0.23) per share in 2023, primarily due to the increase in non-cash impairment charges related to goodwill and intangible assets, partially offset by lower restructuring charges. Adjusted net income was $99.2 million, compared to $105.6 million in 2023, and adjusted earnings per share were $1.02 per share compared with $1.09 per share in 2023. The decline in adjusted net income was due to lower sales and adverse foreign exchange, partially offset by cost reduction initiatives.

For additional information on our business and 2024 financial performance, please see our Annual Report on Form 10-K for the year ended December 31, 2024, filed with the SEC along with our Earnings Release dated February 20, 2025. Adjusted operating income, adjusted earnings per share, and adjusted net income are non-GAAP financial measures. Each non-GAAP financial measure is defined and reconciled to its most directly comparable GAAP financial measure in Appendix B "Supplemental Non-GAAP Financial Measures" of this Proxy Statement.

Impact of 2024 Company Performance on Executive Compensation

2024 Annual Incentive Plan ("AIP")

We believe the incentive compensation earned in 2024 by our executive officers, including our named executive officers, properly reflects the performance of the Company. For the 2024 AIP award payout, the chart below reflects actual Company financial and strategic measures performance in relation to the full year performance targets established by the Compensation and Human Capital Committee for each performance measure applied to our named executive officers.

#### ACCO BRANDS| 2025 PROXY STATEMENT31
| Name and Principal Position                                                                                                                                                                                           | AIP Performance Measure               |    Weight |  Annual Target 
 Performance(1) 
    ($ in 000s) | Percent of Annual Target Performance Achieved | Earned 
 Payout |
| Thomas W. Tedford, President and Chief Executive OfficerDeborah A. O'Connor, Executive Vice President and Chief Financial Officer Pamela R. Schneider, Senior Vice President, General Counsel and Corporate Secretary | ACCO Brands Adjusted Operating Income |       40% |        $182.46 | 78.5%                                         | 69.4%  |
| ACCO Brands Net Sales                                                                                                                                                                                                 |