Company: PLPC
Filing Date: 2025-03-21
Form Type: DEF 14A
Source: 0001628280-25-014223
Chunk: 24

Company: PREFORMED LINE PRODUCTS CO
Filing Date: 2025-03-21
Form: DEF 14A
Chunk 24
---
 executive to meet the stock ownership requirement. All current executive officers have met the requirement, except William Koh and Assaad A. Morcos do not need to meet the requirement until 2028 and 2030, respectively. Clawback Policy . In August 2023, the Company adopted a clawback policy in accordance with the final NASDAQ rules, which requires the Company’s executive officers and key employees designated by the Board to return incentive compensation paid to them if the financial results upon which the compensation was based are restated and republished under applicable securities laws, excluding any restatement required due to changes in accounting rules or standards or changes in applicable law (an “Accounting Restatement”). In the event of an Accounting Restatement, the Company will require reimbursement or forfeiture of the amount of incentive compensation received by the individual that exceeds the amount of such compensation that otherwise would have been received had it been determined based on the restated amounts if such compensation was received during the three years before the date the Company concludes that it must file an Accounting Restatement or the date a court, regulator or other legally authorized body directs the Company to file an Accounting Restatement. Tax Deductibility of Pay . Section 162(m) of the Internal Revenue Code of 1986 places a limit of $1 million on the amount of eligible compensation that a company may deduct in any one year with respect to each of its NEOs. Five officers, including the Executive Chairman , were above this threshold in 2024 . As a result of the Tax Cuts and Jobs Act enacted in December 2017, the performance-based compensation exception has been eliminated for taxable years beginning after December 31, 2017, which may result in lost tax deductions going forward.

| Compensation Committee Report |

The Committee has reviewed and discussed with management the foregoing Compensation Discussion and Analysis, and based on the review and discussion, the Committee recommended to the Board of Directors that the Compensation Discussion and Analysis be included in this proxy statement.

| Matthew D. Frymier, Chairman |
| Glenn E. Corlett             |
| Richard R. Gascoigne         |
| Michael E. Gibbons           |

| Pay Ratio |

Applicable SEC rules require that we provide a reasonable estimate of the ratio of the annual total compensation of our Principal Executive Officer to the median of the annual total compensation of our other employees. We determined our median employee based on taxable compensation (annualized in the case of full- and part-time employees who joined the Company during 2024 ) of each of our