Company: KVHI
Filing Date: 2025-04-28
Form Type: DEF 14A
Source: 0001104659-25-040173
Chunk: 42

Company: KVH INDUSTRIES INC \DE\
Filing Date: 2025-04-28
Form: DEF 14A
Chunk 42
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ing criteria. The compensation committee has not delegated any such authority. Compensation Committee Process; Role of Executives . The base salary and equity award for each executive, together with the annual cash-based incentive compensation plan for all executives, have historically been established within the first quarter of each fiscal year at meetings of the compensation committee held for this purpose. These meetings generally follow one or more informal presentations or discussions of our financial performance, including achievement of performance targets, for the prior fiscal year and an internal business plan for the then-current fiscal year for goal-setting purposes. In 2024 and 2023, equity awards were granted in the first quarter. In deciding the compensation to be awarded to the executive officers other than the chief executive officer, the compensation committee reviews and evaluates recommendations from the chief executive officer. The members of the compensation committee discuss these recommendations with the chief executive officer. In deciding the compensation to be awarded to the chief executive officer, the compensation committee typically receives a self-assessment from the chief executive officer and recommendations from the chairman of the compensation committee. The members of the compensation committee then discuss the chairman’s recommendations. The chief executive officer is not present at the time of these deliberations. The compensation committee may accept or adjust any recommendations, and the compensation committee makes all final compensation decisions. Role of Compensation Consultants . For 2024, the compensation committee relied on market data from Radford to adjust the base salaries of our named executive officers. In January 2024, the compensation committee engaged Compensia, an independent compensation consulting firm, to provide guidance regarding the design of our 2024 annual incentive compensation program. In prior years, the compensation committee had engaged Compensia to perform a more thorough assessment of our executive compensation program, including a review of our then-current compensation arrangements, findings and observations from market data, and potential adjustments for both cash and equity compensation. Compensia’s analysis was used to determine targets for total cash-based incentive compensation as a percentage of base salary. None of Radford, Compensia or any of their respective affiliates provided any services to us in 2024 other than advising the compensation committee and its designees regarding executive compensation matters. KVH Industries, Inc. 2025 Proxy Statement 30 TABLE OF CONTENTS BOARD OF DIRECTORS AND COMMITTEES OF THE BOARD Compensation Recovery Policy . Effective as of October 2, 2023, our board of directors implemented a compensation recovery policy to recover unearned compensation in accordance with Section 10D of the Exchange Act, Rule 10