Company: SLGN
Filing Date: 2025-04-17
Form Type: DEF 14A
Source: 0001193125-25-083646
Chunk: 38

Company: SILGAN HOLDINGS INC
Filing Date: 2025-04-17
Form: DEF 14A
Chunk 38
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 top management in establishing such programs, and believes that the best way to accomplish this objective is to not

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have those assessing such programs participate in them so that these individuals have no conflict of interest. Additionally, the objectives of the annual cash bonus programs for Messrs. Greenlee, Lewis and Hogan are to retain such individuals and provide them with fair overall annual compensation taking into account relevant employment markets, and such programs are not meant primarily as an award for short-term financial performance. The Compensation Committee believes that it is more advantageous for the Company that Messrs. Greenlee, Lewis and Hogan focus more on long-term creation of stockholder value rather than short-term goals. Accordingly, the Compensation Committee establishes a performance goal target with respect to annual bonuses payable to Messrs. Greenlee, Lewis and Hogan that, although not certain, should be attainable. For 2024, Ms. Ulmer, Senior Vice President and Chief Financial Officer of the Company, participated in an incentive program for the other officers of the Company located at its corporate office, or the Holdings Officer Program. Annual cash bonuses are paid to participants in such incentive program based upon the achievement of a certain financial goal and certain non-financial goals established by the Holdings Executives and reviewed and approved by the Compensation Committee at the beginning of the year. Participants in such incentive program are viewed on a team basis for purposes of annual cash bonuses and the financial and non-financial goals. In determining the levels of achievement for the non-financial goals, the Compensation Committee relies upon the subjective evaluation of the Holdings Executives, as well as their own observations and views obtained during the year. Under the Holdings Officer Program, as approved by the Compensation Committee, Ms. Ulmer was eligible for an annual target bonus for 2024 of 50% of her annual salary received in 2024. For 2024, the Compensation Committee approved 75% of Ms. Ulmer’s annual target bonus of 50% of her annual salary, or 37.5% of her annual salary, being based upon the achievement of a financial goal by the Company for 2024 and 25% of Ms. Ulmer’s annual target bonus of 50% of her annual salary, or 12.5% of her annual salary, being based upon the achievement of non-financial goals by the Company for 2024. The financial goal for the Company for 2024, as approved by the Compensation Committee, was its 2024