Company: ASTE
Filing Date: 2025-03-14
Form Type: DEF 14A
Source: 0001104659-25-023778
Chunk: 69

Company: ASTEC INDUSTRIES INC
Filing Date: 2025-03-14
Form: DEF 14A
Chunk 69
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 all of the participant’s outstanding stock options, restricted stock units and other stock awards with time-based vesting restrictions will become vested and exercisable, and the level of achievement of all performance goals relating to the participant’s outstanding performance-based stock awards will be based on an assumed level of achievement at “target” level. The participant will also be eligible for up to $25,000 of outplacement services for 12 months following the termination date As a condition to receiving Regular Severance Benefits or Change in Control Severance Benefits, a participant must enter into a restrictive covenant agreement that includes non-competition, customer non-solicitation and employee non-recruitment provisions, that will apply for a period of 12 months, in the case of a Tier I Participant, or eight months, in the case of a Tier II Participant, following the participant’s termination of employment.

TABLE OF CONTENTS 48 Astec Industries, Inc. | Notice of Annual Meeting and Proxy Statement 2025

The following table sets forth the estimated payments and benefits to each of the named executive officers if their employment with the Company had been terminated under various circumstances as of December 31, 2024. Ms. Weyenberg’s employment with the Company terminated as of April 30, 2024, and she did not receive any payment or benefits in connection with the termination of her employment.

| ​ | Named Executive              
 Officer                      | ​ | ​ | Involuntary Termination,        
 without a Change in Control ($) |   |              |   | ​ | ​ | Involuntary Termination in 
 connection with            
 Change in Control ($)      |   |              |   | ​ | ​ | Termination Due         
 to Retirement,          
 Death or Disability (S) |   |              |   | ​ |
| ​ | Mr. van der Merwe            | ​ | ​ | ​                               | ​ |            ​ | ​ | ​ | ​ | ​                          | ​ |            ​ | ​ | ​ | ​ | ​                       | ​ |            ​ | ​ | ​ |
| ​ | Cash Severance               | ​ | ​ | ​                               | ​ | 2,400,000(1) | ​ | ​ | ​ | ​                          | ​ | 4,800,000(2) | ​ | ​ | ​ | ​                       | ​ |            — | ​ | ​ |
| ​ | Payment for Health Benefits  | ​ | ​ | ​                               | ​ |    38,726(3) | ​ | ​