Company: APTV
Filing Date: 2025-02-07
Form Type: 10-K
Source: 0001521332-25-000010
Chunk: 219

Company: Aptiv PLC
Filing Date: 2025-02-07
Form: 10-K
Item: Item 8
Chunk 219
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$2 April 202320,457 $2 2,930 (1)Determined based on the closing price of the Company’s ordinary shares on the date of the grant.

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Executive AwardsAptiv has made annual grants of RSUs to its executives in February of each year beginning in 2012. These awards include a time-based vesting portion and a performance-based vesting portion, as well as continuity awards in certain years. The time-based RSUs, which make up 40% (25% prior to 2021) of the awards for Aptiv’s officers and 50% for Aptiv’s other executives, vest ratably over three years beginning on the first anniversary of the grant date. The performance-based RSUs, which make up 60% (75% prior to 2021) of the awards for Aptiv’s officers and 50% for Aptiv’s other executives, vest at the completion of a three-year performance period if certain targets are met. Each executive will receive between 0% and 200% of his or her target performance-based award based on the Company’s performance against established company-wide performance metrics, which are:Metric2020 - 2024 GrantsAverage return on net assets (1)33%Cumulative net income33%Relative total shareholder return (2)33%(1)Average return on net assets is measured by tax-affected operating income divided by average net working capital plus average net property, plant and equipment for each calendar year during the respective performance period.(2)Relative total shareholder return is measured by comparing the average closing price per share of the Company’s ordinary shares for the specified trading days in December of the performance period to the average closing price per share of the Company’s ordinary shares for the specified trading days in December of the year preceding the grant, including dividends, and assessed against a comparable measure of competitor and peer group companies.The details of the annual executive grants were as follows:Grant DateRSUs GrantedGrant Date Fair ValueTime-Based Award Vesting DatesPerformance-Based Award Vesting Date(in millions)February 20200.75 $62 Annually on anniversary of grant date, 2021 - 2023December 31, 2022February 20210.44 $72 Annually on anniversary of grant date, 2022 - 2024December 31, 2023February 20220.59 $80 Annually on anniversary of grant date, 2023 -