Company: PRGO
Filing Date: 2025-03-21
Form Type: DEF 14A
Source: 0000950170-25-042897
Chunk: 5

Company: PERRIGO Co plc
Filing Date: 2025-03-21
Form: DEF 14A
Chunk 5
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 focused on our new corporate vision, purpose statement and blueprint to build 'One Perrigo'. Our ability to successfully execute our business strategies will depend in large part on continuing to have the right executive leadership team to guide Perrigo and ensure the long-term success of the company. For this reason, our executive compensation program is designed to attract, inspire and retain the highest level of executive talent. Further, our programs are structured to closely align with our business objectives and commitment to shareholder value creation by having the vast majority of our executives' compensation being at risk, not guaranteed, and linked to performance in order to be realized.

| What We Do |                                                                                                                                       |     | What We Do Not Do                                             |                                                                             |
|            | Pay-for-Performance philosophy that emphasizes variable, at-risk, performance based, equitable pay                                    |     |                                                               | Permit hedging or pledging of Perrigo stock Provide significant perquisites |
|            | Directly align executive compensation with shareholder returns through long-term operational, financial and share price performance   |     |                                                               | Provide “single trigger” change in control cash severance benefits          |
|            |                                                                                                                                       |     | Provide excise tax gross-up on any change in control payments |                                                                             |
|            | Mitigate risk by conducting independent annual risk assessments                                                                       |     |                                                               |                                                                             |
|            | Incorporate plan design features that cap maximum level of payouts, use multiple performance metrics and include claw back provisions |     |                                                               |                                                                             |
|            | Have rigorous stock ownership guidelines                                                                                              |     |                                                               |                                                                             |
|            | Use an independent compensation consultant                                                                                            |     |                                                               |                                                                             |
|            | Regularly review annual share utilization and potential dilution from equity compensation plans                                       |     |                                                               |                                                                             |

#### PERRIGO•2025 PROXY STATEMENTv
Proxy Summary

Program Design

The primary elements of executive compensation consist of base salary, annual incentive and long-term equity incentive compensation.

The vast majority (85% for our current CEO and 74%, on average, for our other Named Executive Officers or “ NEOs ”) of our ongoing target executive compensation opportunity is performance-based and/or at-risk (i.e., not guaranteed).

Compensation is weighted toward long-term equity awards rather than short-term cash compensation to directly align the interests of executive leadership and our shareholders.

2024 Compensation Highlights

For 2024, base salaries for all NEOs were held flat with the exception of Eduardo Bezerra whose role expanded with additional responsibility for Global Information Technology and Services (IT