Company: SSUP
Filing Date: 2025-04-03
Form Type: DEF 14A
Source: 0001140361-25-012052
Chunk: 57

Company: SUPERIOR INDUSTRIES INTERNATIONAL INC
Filing Date: 2025-04-03
Form: DEF 14A
Chunk 57
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 the participant’s annual base salary and the participant’s target annual bonus, paid in a lump sum within 60 days after termination. The Human Capital and Compensation Committee considers these protections to be an important part of the NEOs’ compensation and consistent with competitive market practices. Mr. Trenary, Mr. Kakar and Mr. Dorah also participate in the Executive Severance Plan, absent a Change in Control. Upon termination by the executive for “Good Reason” (as defined by the Plan Document) or by the Company other than for “Cause” (as defined in the Plan Document), the Plan provides for the terminated executive to receive twelve months base salary; a prorated amount of the executive’s current year annual bonus based on actual performance; a prorated number of RSUs that have been outstanding at least six months, becoming 100% vested as of the date of employment termination; a prorated number of performance-based PRSUs that have been outstanding at least six months, continuing after the executive’s employment termination, based on actual performance. Mr. Trenary retired September 30, 2024 and entered into a consulting agreement with Superior beginning October 1, 2024 with the purpose of providing support and consultation to our newly promoted Chief Financial Officer and assist with our balance sheet and debt requirements which had recently been finalized in August, 2024 and publicly reported. Mr. Trenary did not receive any severance payments upon retirement. Risk Mitigation, Regulatory, and Other Considerations Executive Stock Ownership Guidelines The Board has approved Stock Ownership Guidelines under the Company’s Stock Ownership Policy for its executive officers, including the NEOs. The CEO is required to own shares equal to five times his annual base salary and all other executive officers are required to own shares equal to two times his or her annual base salary. The applicable level of stock ownership, which includes unvested RSUs and PRSUs, must be attained within five years of becoming subject to the Stock Ownership Policy. In addition, executive officers must retain 100% of shares acquired and net shares received upon exercise or vesting until they are in compliance with the required ownership level. As of the 2024 measurement date, all of our NEOs were at or above the applicable ownership requirement. Clawback Policy The Company maintains and operates a formal clawback policy that applies to certain incentive-based compensation received by executive officers, including the NEOs, after October 2, 2023. The clawback policy generally provides for the reasonably prompt recovery (