Company: LIN
Filing Date: 2025-04-30
Form Type: DEF 14A
Source: 0000950170-25-060925
Chunk: 83

Company: LINDE PLC
Filing Date: 2025-04-30
Form: DEF 14A
Chunk 83
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 Section 953(b) of the Dodd-Frank Wall Street Reform and Consumer Protection Act and related SEC rules. Consistent with Instruction 2 of Item 402(u) of Regulation S-K, the applicable SEC rule, which allows for the identification of the median employee once every three years as long as there were no changes to the employee population or employee compensation arrangements that the Company reasonably believes would create a significant change to the prior year’s Pay Ratio disclosure, the Company applied the method originally used in 2022 to identify the median employee. The Company reviewed changes in the employee population and compensation arrangements and determined that there were no material changes that would require the identification of a new median employee for 2024. However, because the median employee used in 2022 and 2023 terminated from employment during 2024, the Company selected a different median employee in 2024 whose compensation is substantially similar to that of the original median employee, as permitted by the applicable SEC rule. The Company calculated 2024 annual total compensation for both the median employee and the CEO in accordance with SEC rules to arrive at the Pay Ratio. The median employee’s 2024 annual total compensation was $52,889 and the CEO’s 2024 annual total compensation was $20,696,088 resulting in a 2024 Pay Ratio of 391:1. When first identifying the median employee for the 2022 Pay Ratio disclosure, the Company gathered information for its entire employee population as of December 31, 2022. The Company then chose a consistently applied compensation measure (“CACM”) of ‘base pay’ to determine its median employee. Base pay is made up of base salary, base wages, and scheduled overtime pay. For the analysis, each employee’s scheduled work hours were used as a reasonable estimate for actual hours worked during 2022 and applied to their base pay rate, therein capturing part-time and non-standard work arrangements. The results were converted to U.S. dollars at the average exchange rate from January 1 through December 31, 2022. Base pay was annualized only for those who began work with the Company during 2022. The Company excluded all its employees in certain countries under the “ De Minimis Exemption” as permitted by SEC rules. This excluded population of employees, detailed in the table below, totaled 3,308 of the Company’s entire employee population (as defined by the Pay Ratio rule) of 66,261 as of December 31, 2022, or 4.