Company: CRL
Filing Date: 2025-04-02
Form Type: DEF 14A
Source: 0001104659-25-030908
Chunk: 48

Company: CHARLES RIVER LABORATORIES INTERNATIONAL, INC.
Filing Date: 2025-04-02
Form: DEF 14A
Chunk 48
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 and Exchange Commission, including the Compensation Discussion and Analysis, the 2024 Summary Compensation Table, and the other related tables and disclosure within the Executive Compensation section of this Proxy Statement.” 39 This advisory resolution is non-binding on the Board of Directors. Although non-binding, our Board of Directors and the Compensation Committee value the opinions of our shareholders and will carefully review and consider the voting results when making future decisions regarding our executive compensation program. The Board of Directors recommends a vote “FOR” the approval of the advisory resolution on executive compensation. 40 COMPENSATION DISCUSSION AND ANALYSIS The purpose of our compensation program is to motivate, recruit and retain the strongest possible management team, and simultaneously align management’s interest with those of our shareholders. With these considerations in mind, the Compensation Committee (referred to in this section of the Proxy Statement as the Committee) has overseen the development, implementation and administration of our Executive Compensation Program (the Compensation Program or Program), described below, for members of senior management including the Chief Executive Officer and the other four executives who are identified in the Summary Compensation Table below (our named executives). Our philosophy behind the Compensation Program is that it should appropriately align executive compensation with both the short- and long-term performance of the Company and our commitment to our shareholders. Our named executives for fiscal year 2024 are: James C. Foster (Chair, President and Chief Executive Officer), Flavia H. Pease (Corporate Executive Vice President and Chief Financial Officer), Victoria Creamer (Corporate Executive Vice President and Chief People Officer), Birgit Girshick (Corporate Executive Vice President, Chief Operating Officer), and Joseph W. LaPlume (Corporate Executive Vice President, Corporate Development & Strategy). Executive Summary The following provides a detailed discussion of the structure of our Compensation Program and how they are affected by the achievement of our established business plan in light of the business conditions we operate in. The Committee’s role is to ensure that the Compensation Program consistently operates in a manner that appropriately considers the operating performance of the Company, in light of the business conditions in the period, including the return to our shareholders. The Committee believes the detailed discussion that follows demonstrates that in 2024: • we delivered resilient financial results, while facing challenging demand trends and supply chain issues; and • our pay-for-performance oriented compensation program aligned our long-term performance and compensation with our financial results and shareholder returns. We believe that the intended design of our 2024 Compensation Program is best understood by also evaluating it in the context of both the historical and current business