Company: GGG
Filing Date: 2025-03-12
Form Type: DEF 14A
Source: 0001193125-25-052581
Chunk: 27

Company: GRACO INC
Filing Date: 2025-03-12
Form: DEF 14A
Chunk 27
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 on the Company, and it recommended that the Audit Committee make the same determination as well. As a result, the MOCC did not make any material changes to the structure of the Company’s executive compensation program. 20 Graco Inc. 2025 Proxy Statement

Executive Officer Compensation Processes The MOCC uses the following resources, processes and procedures to help it effectively perform its responsibilities:

| • |     | Executive sessions without management present to discuss various compensation matters, including the compensation of our CEO; |

| • |     | An independent executive compensation consultant who advises the MOCC from time to time on compensation matters; |

| • |     | An annual review of all executive compensation and, when applicable, benefit programs for competitiveness, reasonableness and cost-effectiveness; |

| • |     | Program design and competitive market data for each compensation component using a reputable third-party salary survey of similarly sized manufacturing companies and industry peer group data; |

| • |     | An annual review of NEO compensation and benefits tally sheets; |

| • |     | An annual assessment of the executive compensation program to ensure it is consistent with the MOCC’s philosophy of reducing the possibility of excessive risk-taking; and |

| • |     | Consideration of the results of the most recent non-binding, advisory vote on the compensation of the NEOs. |

Executive Compensation Consultant The MOCC has the authority under its charter to engage the services of outside consultants, to determine the scope of the consultants’ services and to terminate such consultants’ engagement. The MOCC retained Willis Towers Watson as its independent outside executive compensation consultant to advise the MOCC on matters relating to the determination of base salary and short-term and long-term incentive programs for the Company’s executive officers. In its capacity as the executive compensation consultant, Willis Towers Watson advises the MOCC on the following matters:

| • |     | Preparing a competitive compensation review of the CEO and other executive officer positions, including a peer group analysis; |

| • |     | Providing advice and guidance with respect to trends and regulatory issues related to executive compensation; |

| • |     | Reviewing the composition of the industry peer group used to benchmark executive compensation; and |

| • |     | Reviewing the Company’s executive compensation risk assessment. |

Our Company’s management engaged Willis Towers Watson to perform certain non-executivecompensation services in 2024. The total fees for these services were less than $120,000. The MOCC reviews the independence of the executive compensation consultant on an annual basis. In evaluating