Company: CVGI
Filing Date: 2025-04-04
Form Type: PRE 14A
Source: 0001628280-25-016847
Chunk: 48

Company: Commercial Vehicle Group, Inc.
Filing Date: 2025-04-04
Form: PRE 14A
Chunk 48
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| We align pay with performance |     | We do not guarantee salary increases |

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| We enforce share ownership policies                                                                                                   |     | We do not offer a supplemental executive retirement program                                              |
| We enforce non-competition and non-solicitation provisions                                                                            |     | We do not offer perquisites for our NEOs that differ materially from benefits available to our employees |
| We employ an independent executive compensation consultant, reporting directly to the Committee and provides no other services to CVG |     | We do not provide tax gross ups for any benefits or perquisites or in our Change in Control Agreements   |
| We have a formal clawback policy                                                                                                      |     | We do not permit hedging of our securities or the pledging of our securities as collateral for loans     |
| We reward actions that increase long-term stockholder value and discourage excessive risk taking                                      |     | We do not permit holding our securities in margin accounts                                               |

We set performance targets for our annual cash incentive compensation program such that NEOs receive their targeted annual compensation only if our predetermined performance targets are achieved. When performance exceeds the pre-determined targets, total compensation will be above targeted levels and when performance is below the pre-determined targets, total compensation will be below targeted levels. In 2024, although performance, based on plan metrics, under the incentive compensation program would have resulted in a bonus payout to NEOs, the Committee exercised negative discretion to reduce the bonus to zero, based on broader Company performance and alignment with stockholder interests.

Compensation Process

In 2024, the Committee considered the following factors as part of the process by which it made executive compensation determinations:

• Our actual versus targeted performance against Operating Income Margin, Operating Working Capital, and New Revenue;

• Achievement of certain financial metrics and operational outcomes;

• The accelerated execution of the Company's long-term diversification and growth strategy;

• Evaluations of individual NEO’s competencies, performance and contributions; and

• The competitiveness of executive compensation as compared to our compensation peer group, as well as data compiled by our independent compensation consultant, Meridian. This analysis is performed on a periodic basis by Meridian. A full study was conducted in November 2023 that was used for setting 2024 pay levels, including the CEO role. A similar annual study was completed in November 2024 for setting 2025 pay levels, and the 2025 pay levels were not adjusted from 2024 pay levels. These studies are based