Company: LIN
Filing Date: 2025-04-30
Form Type: DEF 14A
Source: 0000950170-25-060925
Chunk: 1

Company: LINDE PLC
Filing Date: 2025-04-30
Form: DEF 14A
Chunk 1
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 has resulted in a substantial refreshment of our Board. However, the Board also seeks to ensure that it maintains an appropriate mix of longer tenured and newer directors so that, among other things, there is a continuity of institutional knowledge and experience of Linde and the industry. Therefore, in October 2024, the Board revised its director retirement policy to increase the director retirement age from 72 years old to 75 years old, reflecting the majority practice of the S&P 500 companies and the practice of a substantial majority of Linde’s peer companies. Board and Committee Oversight of Key Matters The Board and its committees are actively involved in providing oversight and counsel to management regarding numerous areas that are critical to Linde and its shareholders, including the following: The Audit Committee oversees key accounting and financial matters, including (1) selecting the independent auditor; (2) monitoring the internal audit function and compliance with legal and regulatory requirements; and (3) recommending a capital allocation strategy to the Board. The Human Capital Committee supervises the executive compensation program, including (1) designing the program to reflect Linde’s pay for performance culture and alignment of shareholders’ and management’s interests; (2) making annual senior executive compensation determinations, including setting challenging annual variable compensation goals, determining payouts based on those goals, and providing long-term stock incentives for executive officers and other eligible employees. It also reviews the safety strategy and progress annually The Nomination and Governance Committee oversees selection of Board members, recruitment and refreshment, committee assignments, Board compensation, the Board self-evaluation process, and corporate governance matters generally. The Sustainability Committee oversees Linde’s programs, policies and practices related to environmental matters, including sustainability goals, decarbonization and clean energy efforts. The Board’s oversight includes, among others (1) conducting an annual business plan review in January and an annual strategy review in October, in addition to multiple strategic business reviews throughout the year; (2) determining a capital allocation strategy, with a focus on investment for future growth and appropriate shareholder distribution levels. This included 9% and 8% dividend increases in 2024 and 2025, respectively, with 2025 being the 32 nd consecutive annual dividend increase, as well as a continuation of Linde’s existing $15 billion share repurchase program; (3) performing an annual enterprise risk assessment; (4) reviewing and approving strategic acquisitions and large capital projects that are a core component of Linde’s growth strategy; and (5) reviewing senior executive talent and management succession planning.