Company: SXT
Filing Date: 2025-06-09
Form Type: 11-K
Source: 0001140361-25-021882
Chunk: 3

Company: SENSIENT TECHNOLOGIES CORP
Filing Date: 2025-06-09
Form: 11-K
Chunk 3
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 benefit that can be provided from the participant’s vested account. 7 SENSIENT TECHNOLOGIES CORPORATION RETIREMENT EMPLOYEE STOCK OWNERSHIP PLAN NOTES TO FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED DECEMBER 31, 2024 Note 1 - (Continued): Upon separation from service with the Company due to retirement or termination, and if the participant’s vested account balance is greater than $7,000, the participant may receive his or her benefits in a lump-sum cash payment, lump-sum rollover into an individual retirement account or another employer’s eligible retirement plan, or defer receiving benefits until a future date. A participant whose vested account balance is greater than $1,000, but equal to or less than $7,000, may elect to receive a lump-sum distribution or a direct rollover to an individual retirement account, which will be established by the Company for the participant. A participant whose vested account balance is equal to or less than $1,000 will automatically receive a lump-sum distribution equal to his or her vested account balance. If the separation from service is due to permanent disability or death, the entire vested account balance is available to the participant or beneficiary(ies). Note 2 - Accounting Policies: Although it has not expressed any intention to do so, the Company has the right under the Plan to discontinue contributions at any time, or to terminate the Plan subject to ERISA. In the event of termination, participant accounts become fully vested. The financial statements of the Plan are prepared on an accrual basis in accordance with generally accepted accounting principles in the United States. The preparation of financial statements in conformity with generally accepted accounting principles in the United States requires management to make estimates that affect the amounts reported in the financial statements and accompanying notes. Actual results could differ from those estimates. Administrative expenses incurred by the Plan are paid by the Company on behalf of the Plan or from Plan assets as determined by the Committee. The Plan records benefits when payment is made to the participant. There were no benefits payable as of December 31, 2024 or 2023. Note 3 - Master Trust: The Plan’s investments are held by the Master Trust, commingled with the investments of the Sensient Technologies Corporation Savings Plan. Use of the Master Trust permits the commingling of assets of various employee benefit plans for investment and administrative purposes. Each participating plan’s interest in the investment funds of the Master Trust is based on account balances of the participants and their elected investment funds