Company: SPWH
Filing Date: 2025-04-16
Form Type: DEF 14A
Source: 0000950170-25-054732
Chunk: 23

Company: SPORTSMAN'S WAREHOUSE HOLDINGS, INC.
Filing Date: 2025-04-16
Form: DEF 14A
Chunk 23
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 vote on an annual basis. At last year’s annual meeting of stockholders, approximately 83% of votes cast approved the “say-on-pay” proposal regarding the compensation awarded to our named executive officers. We take the views of our stockholders seriously and view this result, which was substantially higher than our prior year’s result, as evidence that our stockholders generally approve of the direction of our executive compensation program. In response to feedback we had received during stockholder outreach following the “say-on-pay” vote in 2023, in fiscal 2024 (a) we implemented a three-year cliff vesting condition for both our performance-based equity incentive awards and our performance-based cash incentive awards granted to our named executive officers; and (b) we granted only performance-based awards to our CFO. Pursuant to the terms of our CEO’s employment agreement previously entered into in 2023, his fiscal year 2024 awards were comprised of 50% performance-based awards and 50% time-based awards (with the vesting schedule of the time-based awards having been negotiated as part of that 2023 agreement).

Objectives, Philosophy and Elements of Executive Compensation Our compensation program aims to achieve the following main objectives: ▪ align the interests of our executives with those of the stockholders; ▪ attract, motivate, reward and retain the top contributors upon whom, in large part, our success depends; ▪ be competitive with compensation programs for companies of similar size and complexity with whom we compete for talent, including direct competitors; ▪ provide compensation based upon the short-term and long-term performance of both the individual executive and the Company; and ▪ strengthen the relationship between pay and performance by emphasizing variable, at-risk compensation that is dependent upon the successful achievement of specified corporate and individual goals. Our executive compensation program generally consists of, and is intended to strike a balance among, the following three principal components: base salary, annual performance-based bonuses and long-term incentive compensation (both cash-based and equity-based). We also provide some of our executive officers with benefits available to all our employees, including retirement benefits under the Company’s 401(k) plan and participation in employee benefit plans. Use of Competitive Market Compensation Data The Compensation Committee believes that it is important when making its compensation decisions to be informed as to the current practices of comparable public companies with which we compete for top talent. To this end, the Compensation Committee directed FW Cook to develop a proposed list of our peer group companies to be used in connection with assessing the compensation practices of the publicly traded