Company: ASTE
Filing Date: 2025-03-14
Form Type: DEF 14A
Source: 0001104659-25-023778
Chunk: 47

Company: ASTEC INDUSTRIES INC
Filing Date: 2025-03-14
Form: DEF 14A
Chunk 47
---
 | ​ | ​ | ​                     | ​ | —    | ​ | ​ | ​ | ​                     | ​ | 70%  | ​ | ​ | ​ | ​             | $ | 385,000 | ​ | ​ |
| ​ | Mr. Gilbert(4)    | ​ | ​ | ​                     | ​ | —    | ​ | ​ | ​ | ​                     | ​ | 50%  | ​ | ​ | ​ | ​             | $ | 200,000 | ​ | ​ |

(1) Ms. Weyenberg’s employment with the Company terminated on April 30, 2024 and her award was forfeited upon her termination. (2) The dollar value of Mr. Jonker’s target 2024 incentive shown above is pro-rated based on his roles and respective salaries in the 2024 year. His target percentage did not change when he was appointed to interim CFO. (3) Mr. Harris joined the Company on October 7, 2024, and his AIP target was prorated to reflect the portion of the year he was employed by the Company. (4) Mr. Gilbert joined the Company on March 25, 2024, and his AIP target was prorated to reflect the portion of the year he was employed by the Company. In order to earn any annual incentive pay for the Adjusted EBITDA metric, a plan trigger goal must be achieved. For calendar year 2024, the plan trigger goal was achieving at least 65% of a target Adjusted EBITDA goal, or $89.7 million. Assuming the plan trigger goal was achieved, actual incentive amounts that could be earned by the named executive officers for 2024 ranged from 50% (for performance at threshold levels) to a maximum of 200% (for performance above target levels) of their respective target bonus amounts, based on the level of achievement of performance goals relating to three key metrics: Adjusted EBITDA (weighted 50%), Working Capital Turnover (weighted 25%), and a non-financial metric related to the successful achievement of our enterprise resource planning implementation project milestones (weighted 25%). If the trigger goal was not achieved, then Adjusted EBITDA would not payout. Liner interpolation would be used for results falling between performance levels. Performance goals for the CEO, CFO, Group Presidents and other corporate officers relate 100% to total Company performance. We retained Adjusted EBITDA (defined below)