Company: HEI-A
Filing Date: 2025-01-31
Form Type: DEF 14A
Source: 0001140361-25-002543
Chunk: 36

Company: HEICO CORP
Filing Date: 2025-01-31
Form: DEF 14A
Chunk 36
---
, the executives favored continued substantial investment in research and product development, including during the COVID-19 Pandemic (the “Pandemic”), which had the effect of reducing their own potential short-term compensation, so that the Company would experience better medium- and long-term growth |

| ▪ | During the Pandemic, our executive officers requested that their salaries be reduced |

| ▪ | In prior downturns, which were all much milder than the Pandemic, our executive officers insisted on foregoing planned salary increases or bonuses |

| ▪ | Management has been careful to maintain conservative debt levels to ensure the Company’s ability to finance acquisitions and growth, and to sustain unimpeded operations during times of severe global distress, such as the Pandemic when numerous commercial airlines filed for bankruptcy, but HEICO maintained a strong balance sheet |

| ▪ | Our executive officers developed an ethical and honest culture based on serving our various stakeholders, which is known among our Team Members as the “HEICO Family” culture |

| ▪ | As an example, even during a very challenging business year, HEICO made its typical full contribution to all eligible Team Members’ 401(k) retirement plan accounts at a time when many other companies reduced or eliminated them |

| ▪ | Executive officers should feel they are being rewarded and recognized properly for their efforts and for their contributions to our Company’s growth |

| 25 |

TABLE OF CONTENTS

Other Important Factors We Consider

| ▪ | Current management holds a significant financial stake in the Company |

| ▪ | Alternate personal business opportunities which our executives could easily pursue |

| ▪ | Amounts and types of compensation which other companies pay to their executives |

| ▪ | General economic conditions |

| ▪ | The complexity and risks of the executives’ current jobs |

| ▪ | Stability from management’s longevity, which benefits employee and customer retention and which secures the HEICO Family culture |

Compensation Elements The Committee consistently breaks executive compensation into the following four primary categories:

| ▪ | Base Salary |

| ▪ | Bonus |

| ▪ | Stock Options |

| ▪ | Retirement-Related/Long-Term Compensation |

Further, we believe it is appropriate to allow executives certain modest perquisites as discussed later in this CD&A. The Committee considers Base Salary, Cash Bonus (which is referred to as Non-Equity Incentive Compensation Plan in the Summary Compensation Table), Retirement-Related/Long-Term Compensation, Director Fees, Insurance Benefits and other perquisites to be cash