Company: CRD-A
Filing Date: 2025-04-07
Form Type: DEF 14A
Source: 0001558370-25-004509
Chunk: 26

Company: CRAWFORD & CO
Filing Date: 2025-04-07
Form: DEF 14A
Chunk 26
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 executive compensation because of the strong correlation with the creation of value for shareholders. The Compensation Committee believes that revenue is a useful metric in determining certain components of executive compensation because of the Company’s focus on growth and an increase in revenue is a strong measure of growth. Operating earnings is the primary financial performance measure used by the Company’s senior management to evaluate financial performance and make resource allocation decisions and so the Compensation Committee believes it is a useful metric for purposes of setting components of executive compensation. The Compensation Committee added operating margin to address select areas of the business with historical underperformance in operating margin contribution. The table below shows actual Company-wide revenue, operating earnings, operating margin as well as earnings per share used in 2024. Company-wide revenue, operating earnings and operating margin were used as metrics for determining the Company’s 2024 short-term incentive compensation awards. Cumulative earnings per share, adjusted per the terms of the Long-Term Incentive Plan (“LTIP”), as explained in note 2 below, is used as the metric for determining the Company’s 2023-2025 and 2024-2026 long-term incentive performance share unit awards.

| ​                                                                    
 ​                                                                    | ​ | ​    
 2024 |       ​ | ​    | ​    
 ​    |
|:---------------------------------------------------------------------|:--|:-----|--------:|:-----|:-----|
| Revenue before Reimbursements (millions)                             | ​ | $    | 1,293.9 | (1)​ | ​    |
| Adjusted Operating Earnings (millions)                               | ​ | $    |    82.5 | (1)​ | ​    |
| Adjusted Operating Margin                                            | ​ | ​    |     6.4 | %    | (1)​ |
| Earnings Per Share (used for purposes of 2023-2025 LTIP calculation) | ​ | $    |    0.74 | (2)​ | ​    |
| Earnings Per Share (used for purposes of 2024-2026 LTIP calculation) | ​ | $    |    0.74 | (2)​ | ​    |

| (1) | At the discretion of the Compensation Committee, operating earnings and operating margin may be adjusted to exclude the impact of any gains, losses, or unbudgeted expenses deemed unusual and/or non-recurring for incentive plan purposes.  The Compensation Committee approved such adjustments to calculate the total Company STIP payment