Company: SLGN
Filing Date: 2025-04-17
Form Type: DEF 14A
Source: 0001193125-25-083646
Chunk: 36

Company: SILGAN HOLDINGS INC
Filing Date: 2025-04-17
Form: DEF 14A
Chunk 36
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 rata amount of the annual target cash bonus for which he was eligible for that year. For 2024, the performance goal established by the Compensation Committee under this plan and this program was the net income before interest, taxes, depreciation and amortization and rationalization charges, acquisition termination fees (net of related costs), costs attributable to announced acquisitions, the impact from any foreign currency devaluations and other pension income (expense) from U.S. pension plans (Adjusted EBITDA) of the Company, subject to further 23

adjustment as determined by the Compensation Committee for acquisitions and/or divestitures completed during 2024 and unusual gains and unusual losses, and the performance goal target for the annual target cash bonus was the Adjusted EBITDA level of the Company for 2023 ($870.7 million), with the amount of the annual bonus under this plan and this program calculated based on the following formula:

X multiplied by the Company’s Adjusted EBITDA for 2024; with X being equal to a percentage, the numerator of which is the maximum annual target cash bonus for a particular person and the denominator of which is the Company’s Adjusted EBITDA for 2023.

The Company’s Adjusted EBITDA for 2024 was $881.5 million, or 101.2% of the Company’s Adjusted EBITDA for 2023. Therefore, each of Messrs. Greenlee, Lewis and Hogan was entitled to an annual cash bonus for 2024 equal to 100% of his annual target cash bonus for 2024, or 100%, 75% and 75% of their annual base salaries in 2024, respectively.

For 2025, Mr. Greenlee is the only participant in the Senior Executive Performance Plan. Pursuant to the Senior Executive Performance Plan, Mr. Greenlee could be eligible for an annual cash bonus of up to 200% of his annual base salary, with the maximum amount of Mr. Greenlee’s annual target cash bonus being set annually by the Compensation Committee. For 2025, the Compensation Committee evaluated competitive compensation data and approved an increase in the maximum annual target cash bonus for Mr. Greenlee to 125% of his annual base salary from 100% of his annual base salary. In setting the maximum amount of the annual target cash bonus for Mr. Greenlee, the Compensation Committee bases its determination on its objective of retaining Mr. Greenlee and providing him with fair overall annual cash compensation taking into