Company: AVD
Filing Date: 2025-05-29
Form Type: DEF 14A
Source: 0000950170-25-079166
Chunk: 31

Company: AMERICAN VANGUARD CORP
Filing Date: 2025-05-29
Form: DEF 14A
Chunk 31
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 digital infrastructure and companywide business and operational changes.

For fiscal year 2025, the Company is redefining the objectives that will support incentive compensation. Specifically, cash incentives for executives will be as per a formula-driven plan that gives weight to five key performance indicators (KPIs) and two corporate goals relating to transformation and manufacturing/opex targets (please see page25). These metrics will be weighted based upon a multi-factor scale (from lower to higher success) for each factor. Through this approach, we are shifting our focus toward improved accountability for achieving better financial performance and transformation results. For more information, please see the section entitled "Compensation Discussion & Analysis - What We Reward" beginning on page25of this Proxy Statement.

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COMPENSATION DISCUSSION AND ANALYSIS

In this Compensation Discussion and Analysis, we address our philosophy, programs and processes related to the compensation paid or awarded in 2024 to our named executive officers (“NEOs”) listed below and in the Summary Compensation Table for 2024 that follows this discussion.

The following individuals were our NEOs for 2024:

Douglas A. Kaye III, who serves as our Chief Executive Officer

Eric G. Wintemute, who serves as our Chairman and served as our Chief Executive Officer until his retirement on July 12, 2024

David T. Johnson, who serves as our Vice President, Chief Financial Officer and Treasurer

Timothy J. Donnelly, who serves as our Chief Information Officer, General Counsel, & Secretary

Shirin Khosravi, who serves as our Chief Human Resources Officer

Peter E. Eilers, who serves as our Managing Director, Amvac Netherlands BV

Ulrich G. Trogele, who served as our Executive Vice President, Chief Operating Officer until his retirement on May 31, 2024

Anthony S. Hendrix, who served as our Vice President of Sales, US and Canada until his departure on May 3, 2024

Executive Summary

The year 2024 was one of extraordinary transformation for the Company, during which, teaming with a nationally-known business consultant, it began two transformation initiatives – both business and digital – to improve operating efficiency, implement an organization having greater accountability and upgrade the entire ERP platform to centralize its global footprint and improve the quality and timeliness of critical data. Further, in mid-2024, the then current CEO left the Company, a provisional group was formed to continue the