Company: NGVT
Filing Date: 2025-03-24
Form Type: PRRN14A
Source: 0001539497-25-001025
Chunk: 34

Company: Ingevity Corp
Filing Date: 2025-03-24
Form: PRRN14A
Chunk 34
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 and Benjamin G. (Shon) Wright. |

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<div align='center'>Proposal 2: VOTE, ON A NON-BINDING, ADVISORY BASIS, ON THE COMPENSATION OF
INGEVITY’S “NAMED EXECUTIVE OFFICERS” (SAY-ON-PAY)</div>

Based on information contained in the Company’s proxy statement, it is expected that at the Annual Meeting the stockholders will be asked to vote, on a non-binding, advisory basis, on the compensation of the Company’s “named executive officers” as disclosed in the Company’s proxy statement. The Company has indicated in its proxy statement that its stockholders are being asked to vote on
the following advisory resolution:

“RESOLVED, that the Company’s stockholders
approve, on an advisory basis, the compensation of our named executive officers as described in this Proxy Statement, including the Compensation
Discussion and Analysis and the tabular compensation disclosures and related narrative discussion.”

Proposal 2, which is known as a “say-on-pay”
proposal, allows the Company’s stockholders to express their views on the compensation paid to Ingevity’s “named executive
officers.”

We recommend that you vote “AGAINST”
the Company’s “say-on-pay” proposal due to our belief that the compensation awarded to Mr. Fernandez-Moreno, a legacy
Board member, to serve as Interim President and Chief Executive Officer, is excessive. As disclosed in its proxy statement, the Company
believes that its “compensation policies and procedures are competitive, focused on pay-for-performance principles, and strongly
aligned with the long-term interests of our stockholders.” We do not agree.

As disclosed by the Company, Mr. Fernandez-Moreno
was appointed by the Board to serve as Interim President and Chief Executive Officer of the Company effective as of October 2, 2024, and
that Mr. Fernandez-Moreno would continue to serve as a director on the Board. The Company disclosed that for serving as Interim President
and Chief Executive Officer, Mr. Fernandez-Moreno is entitled to an annual base salary of $3,000,000 per year, coverage under the Company’s
employee benefit plans, and a one-time equity award of restricted stock units with a fair value (as of October 2, 2024) of $1,000,000,
which vest on the one year anniversary of the date of the award.

Mr. Fernandez-Moreno