Company: PRGO
Filing Date: 2025-03-10
Form Type: PRE 14A
Source: 0000950170-25-035751
Chunk: 29

Company: PERRIGO Co plc
Filing Date: 2025-03-10
Form: PRE 14A
Chunk 29
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 Annual base salaries for all named executive officers were held flat with the exception of Eduardo Bezerra whose role expanded with additional responsibility for Global IT&S.                                                                                                                                                                                  |
| AIP                |    | The AIP eligible NEOs received annual incentive awards based on corporate and individual performance against financial and strategic objectives, which ranged from 40.1% to 63.7% of target for those currently serving. As previously disclosed and as described in more detail under "2024 AIP Performance Measures," as part of Project Energize, for the 2024 AIP bonuses, our NEOs received 1/3 of their AIP earned bonus in cash and 2/3 of such bonus plus a 10% premium in a Service-based RSU grant ratably vesting over two years. |
| LTIP               |    | In 2024, all of the then-serving NEOs were granted annual LTIP awards, which were allocated 50% to PSU OI that may be earned based on achievement of three-year cumulative Adjusted Operating Income goals, 20% to rTSR PSUs that may be earned based on our three-year rTSR performance versus the companies in the S&P 500, and 30% to Service-Based Restricted Stock Units (“RSUs”) ratably vesting over three years.                                                                                                                     |

What Guides Our Executive Compensation Program Our Executive Compensation Principles Perrigo’s executive compensation program is designed to attract, engage and inspire our entire executive team, including our named executive officers, who are critical to the execution of Perrigo’s Self-Care strategy and the long-term success of the Company. Perrigo’s executive compensation program reflects our core principles: Pay is linked to performance: A significant portion of total compensation should be performance-based (at-risk) and linked to the attainment of specific, measurable objectives, including the delivery of our strategic plan. Pay opportunities are market-competitive: Compensation opportunities and program design should attract, engage and inspire the highest level of executive talent who can effectively deliver our strategies and are focused on the long-term interests of our shareholders. Pay is shareholder-aligned: Compensation should be provided through multiple pay elements (base salaries, annual and long-term incentives) designed to drive sustainable business performance, build a strong internal culture of company ownership and create long-term value for all our shareholders. The core elements of our executive compensation program are summarized in the table below.

| Element     |     | Form             |     | What It Does                                                                                                                                                                                            |
| Base Salary |     | Cash