Company: ASTE
Filing Date: 2025-03-14
Form Type: DEF 14A
Source: 0001104659-25-023778
Chunk: 43

Company: ASTEC INDUSTRIES INC
Filing Date: 2025-03-14
Form: DEF 14A
Chunk 43
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 | Federal Signal Corporation                     | ​ | ​ | The Barnes Group            | ​ |
| ​ | Greenbrier Companies, Inc.                     | ​ | ​ | Wabash National Corporation | ​ |

The Compensation Committee assessed the independence of FW Cook pursuant to SEC and Nasdaq Rules. In doing so, the Committee considered each of the factors set forth by the SEC and Nasdaq with respect to a compensation consultant’s independence. The Committee also considered the nature and amount of work performed by FW Cook and the fees paid for those services in relation to the firm’s total revenues. FW Cook did not perform any separate additional services for management. On the basis of its consideration of the foregoing and other relevant factors, the Compensation Committee concluded that FW Cook was independent and that there were no conflicts of interest. The independent consultant will continue to periodically advise the Compensation Committee as to trends in executive compensation and also provide specialized studies or expert advice as requested with respect to executive compensation issues, in each case in order to assist the Compensation Committee and work on its behalf on matters related to the Compensation Committee’s purposes and responsibilities as set forth in the Compensation Committee charter, which is available through the Investor Relations section of our website at www.astecindustries.com. FW Cook will meet with the Compensation Committee and attend regular Compensation Committee meetings in person or by telephone as requested. Consideration of Last Year’s Advisory Shareholder Vote on Executive Compensation At the Annual Meeting of Shareholders on April 25, 2024, over 98% of the shares voted were cast to approve the compensation of the Company’s named executive officers, as discussed and disclosed in the 2024 Proxy Statement. The Board and the Compensation Committee appreciate and value the views of our shareholders. The results of this advisory vote on executive compensation show that the compensation paid to our named executive officers and the Company’s overall pay practices were supported by a vast majority of the shares voted. No specific changes were made in the compensation paid to our executive officers due to the results of this advisory vote. Currently, our policy is to have an advisory vote on executive compensation every year. This is based on the results of the shareholder vote at the Annual Meeting of Shareholders on April 25, 2023. A vote to recommend the frequency of advisory shareholder votes on the compensation of executive officers is required every six years, and the next vote to recommend the frequency of such votes in the future will occur at the 2029 Annual Meeting.

TABLE OF CONTENTS 35 Astec Industries, Inc. | Notice of Annual