Company: LPG
Filing Date: 2025-07-22
Form Type: DEF 14A
Source: 0001558370-25-009356
Chunk: 44

Company: DORIAN LPG LTD.
Filing Date: 2025-07-22
Form: DEF 14A
Chunk 44
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 other management’s involvement. For other NEOs and senior executives, the Committee values input from the CEO. He provides recommendations on salaries, bonuses, and long-term incentives based on:

| ● | market compensation benchmarks; |

| ● | our compensation philosophy; and |

| ● | individual performance, role scope, experience, and potential. |

These recommendations are thoroughly reviewed, adjusted as needed, and approved by the Compensation Committee, with significant decisions sometimes escalating to the full Board. All compensation decisions for Fiscal Year 2025, including base salaries and incentive awards, were finalized by the Committee.

33

Role of Independent Advisors To support its work, the Compensation Committee has the authority to hire independent experts. In October 2024, it engaged Pay Governance LLC as an independent consultant to provide guidance on executive and director compensation and governance practices. Conflict of Interest Review In line with SEC rules under the Dodd-Frank Act, the Committee evaluated Pay Governance’s work using the criteria in Rule 10C-1(b)(4)(i) through (vi) of the Exchange Act. The Committee concluded that Pay Governance’s services in Fiscal Year 2025 presented no conflicts of interest, ensuring unbiased advice. This structure ensures our compensation decisions are fair, strategic, and aligned with shareholder interests while upholding rigorous governance standards. How We Benchmark Executive Compensation Our Compensation Committee regularly reviews executive pay at similar companies to ensure our compensation remains competitive and aligned with market trends. Our goal is to offer total compensation—salary, bonuses, and incentives—that matches what comparable companies provide to attract and retain top talent. Compensation Peer Group Selection Each year, the Compensation Committee reviews and selects a group of publicly traded companies (the “Compensation Peer Group”) to serve as a reference point for evaluating the competitiveness and appropriateness of our executive compensation program. Companies are selected based on several key criteria, including:

| ● | Similarity in industry focus and operational characteristics; |

| ● | Comparable size in terms of revenue and market capitalization; and |

| ● | Competition for executive talent in similar markets. |

For Fiscal Year 2025, the Compensation Peer Group consisted of nine publicly traded companies, both domestic and international, listed below. The composition of the peer group remained largely consistent with the prior year, with the exception of Eagle Bulk Shipping, Inc., which was removed following its acquisition and is no longer available for comparison purposes. Use of Peer Group Data While peer group data is an important input in the Compensation Committee’s decision-making process, it is not the sole determinant of compensation levels.