Company: GGG
Filing Date: 2025-03-12
Form Type: DEF 14A
Source: 0001193125-25-052581
Chunk: 7

Company: GRACO INC
Filing Date: 2025-03-12
Form: DEF 14A
Chunk 7
---
 sustainability objectives through decreased energy costs and less waste |
| Ø  The Board appointed Mr. J. Kevin Gilligan to Chair of the Board and Ms. Martha A. Morfitt to Chair of the Management Organization and Compensation Committee in February 2024                                                                               |

| Compensation                                                                                                                                                                                                                     |
| Based on 2024 financial performance, Incentive Bonus Plan payments for our CEO and our other NEOs were as follows:   Ø  CEO = 12% of target; 12% of base salary   Ø  Other NEOs = 12% to 49% of target; 8% to 35% of base salary |

**BOARD OF DIRECTORS Nominees and Continuing Directors The following information is given with respect to the three nominees for election at the Meeting and the other six directors whose terms of office will continue after the Meeting, and includes a description of the particular experience, qualifications, attributes or skills that led the Board to conclude that each of the nominees and directors should serve as members of the Board. Nominees for election at the Meeting to terms expiring in 2028: Eric P. Etchart Mr. Etchart, 68, was Senior Vice President, Business Development of The Manitowoc Company, Inc., a manufacturer of cranes and foodservice equipment, from 2015 until his retirement in 2016. Mr. Etchart served as President of Manitowoc Cranes and Senior Vice President of The Manitowoc Company from 2007 until 2015. From 2001 to 2007, Mr. Etchart was Executive Vice President, Asia Pacific and President, Zhang Jia Gang Company of the Manitowoc Crane Group in Shanghai, China. Prior to that, Mr. Etchart held various management positions at Potain S.A., until it was acquired by Manitowoc Crane Group in 2001, and at PPM Cranes S.A. Mr. Etchart has been a director of Graco since 2010. He also serves as a director of Alamo Group Inc. and WD-40Company, and he serves as WD-40’sChairman of the Board of Directors. Mr. Etchart is also a director of UPERIO Group, which sells, rents and services tower cranes and self-erecting cranes. Mr. Etchart is a National Association of Corporate Directors (“NACD”) Board Leadership Fellow, and has successfully completed the Diligent Climate Leadership and