Company: PRGO
Filing Date: 2025-03-10
Form Type: PRE 14A
Source: 0000950170-25-035751
Chunk: 42

Company: PERRIGO Co plc
Filing Date: 2025-03-10
Form: PRE 14A
Chunk 42
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(1) PSU OI Attainment for FY2022 reflects actual FY2022 Adjusted Operating Income attainment adjusted for a currency impact of $40.4M versus plan. FY2023 target goal was set at 5% growth over FY2022 Actual Attainment Baseline. (2) Adjusted Actual Attainment for FY2023 reflects actual FY2023 Adjusted Operating Income attainment adjusted for a currency impact of $.76M versus 2022 actuals. (3) PSU OI Attainment for FY2024 reflects actual FY 2024 Adjusted Operating Income attainment adjusted for a current impact of $4.1M versus 2023 actuals. Relative TSR PSUs (“ rTSR PSUs ”) Twenty percent of each executive’s target annual grant value is in the form of rTSR PSUs. The TCC selected rTSR as the applicable long-term performance measure for these PSUs to directly align the interests of the executive team with the long-term market performance of Perrigo’s shares. The inclusion of rTSR-PSUs in the overall LTIP mix also provides a relative external performance metric to balance the internal performance metric of PSU OI growth in the PSU OI PSUs. The number of rTSR PSUs earned can be 0 if the threshold goal is not achieved, or can range from 50% to 200% of the target number of rTSR PSUs based on Perrigo’s rTSR performance versus the companies in the S&P 500 over the three-year performance period, according to the following table:

| 2023-2025 Relative TSR Percentile Rank |     | Payout (% of Target Shares) |
| ≥ 80th Percentile                      |     | 200%                        |
| 55th Percentile                        |     | 100%                        |
| 30th Percentile                        |     | 50%                         |
| <30th Percentile                       |     | 0%                          |

Total shareholder return for Perrigo and the peer companies is calculated using an average of adjusted closing prices for the 20-trading day periods starting on the first and ending on the last day of the performance period. Payout for performance between levels is linearly interpolated. If our absolute TSR is negative, the maximum number of shares that may be earned is 100% of target, regardless of our relative performance. In addition, the overall earned value is capped at 500%