Company: EME
Filing Date: 2025-04-23
Form Type: DEF 14A
Source: 0001140361-25-015031
Chunk: 37

Company: EMCOR Group, Inc.
Filing Date: 2025-04-23
Form: DEF 14A
Chunk 37
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 targeted compensation (including restricted stock units) ranged from approximately 33% to 59%. Of their 2024 total targeted compensation (including restricted stock units), the percentage of each named executive officer’s total target compensation that was forfeitable ranged from approximately 67% to 72%. Corporate Tax Deductibility of Compensation in Excess of $1 Million a Year We consider the tax rules associated with various forms of compensation when designing our compensation programs. However, to maintain flexibility to compensate our executive officers in a manner designed to promote short- and long-term corporate goals and objectives, the Compensation Committee has not adopted a policy that all compensation must be deductible to the Company and has paid, and will continue to pay, compensation that is not deductible. Accounting Treatment When designing the elements of compensation, the Compensation Committee considers the impact of accounting treatment and avoids structuring equity awards that would require that they be marked to market at the end of each accounting period as those types of awards could result in additional expense to the Company or additional net income to the Company based upon their periodic change in value. However, the Compensation Committee may in the future grant equity awards that may be subject to such accounting treatment. Retirement Plans, Severance Arrangements, and Change of Control Agreements Retirement Plans Until 2013 we provided our retirement benefits solely through our 401(k) Plan, pursuant to which we made a matching contribution of $21,321 for the account of Mr. Guzzi, Ms. Mauricio and Mr. Nalbandian for 2024. We based the amount of our contribution for the named executive officers on a formula set forth in the terms of the 401(k) Plan that applies to all participants in such plan. Effective with calendar year 2013, we adopted our Voluntary Deferral Plan, a non-qualified deferred compensation plan offered to a select group of employees with annual salaries of at least $175,000, including our named executive officers. See the Table under “Non-Qualified Deferred Compensation” on page 38and the accompanying narrative disclosure for information regarding deferrals and Company credits made in respect of 2024, which such credits are recommended by the Company’s Retirement Committee and approved by the Compensation Committee. Severance Arrangements In light of our modest retirement benefits and the existence of employment agreements for several years with our then named executive officers, which employment agreements we decided not to renew when they expired on December 31, 2004, the Compensation Committee decided to enter into severance agreements with our then