Company: BHE
Filing Date: 2025-04-04
Form Type: DEF 14A
Source: 0000950170-25-051057
Chunk: 34

Company: BENCHMARK ELECTRONICS INC
Filing Date: 2025-04-04
Form: DEF 14A
Chunk 34
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2024. Although Mr. Schumaker was not eligible to participate in the 2024 annual incentive plan, the Human Capital and Compensation Committee recognized his significant contributions to the Company, along with the Company's overall performance. As a result, the Human Capital and Compensation Committee awarded him a discretionary cash bonus of $25,000.

Mr. Kamal’s incentive payment consisted of the following percentages of base salary for each performance goal: 8.8% for revenue, 11.2% for Adjusted Operating Income and 8.4% for Adjusted Inventory.

Mr. Moezidis’s incentive payment consisted of the following percentages of base salary for each performance goal: 21.9% for revenue, 28.0% for Adjusted Operating Income and 21.0% for Adjusted Inventory.

Mr. Valkanoff’s incentive payment consisted of the following percentages of base salary for each performance goal: 20.4% for revenue, 26.2% for Adjusted Operating Income and 19.6% for Adjusted Inventory .

Mr. Beaver’s incentive payment consisted of the following percentages of base salary for each performance goal: 19.0% for revenue, 24.3% for Adjusted Operating Income and 18.1% for Adjusted Inventory .

Mr. Lakkaraju resigned from his position as CFO effective April 1, 2024 to pursue another opportunity and is no longer with the Company. He did not receive an annual incentive award payout.

Long-Term Equity-Based Incentive Program

TheHuman Capital andCompensation Committee believes that our long-term equity-based incentive program focuses executives on key performance metrics that align with long-term shareholder value creation and the Company’s long–term strategic plan, establishes a direct link between compensation and the achievement of long-term financial objectives, and facilitates an increased equity ownership by our executives. In the first quarter of 2024, the committee awarded executive officers a combination of PSUs and RSUs under the Company's 2019 Omnibus Incentive Compensation Plan (the "2019 Omnibus Plan") as further described below.

2024 Awards

The long-term equity-based incentive compensation awards made in the first quarter of 2024 consisted of 50% of the total value awarded in PSUs (at target level of performance) and 50% in RSUs.

PSUs—The committee believes the PSUs, which are subject to the achievement of measurable financial goals, enable management to build a meaningful ownership stake in the Company