Company: MATV
Filing Date: 2025-03-21
Form Type: DEF 14A
Source: 0001140361-25-009899
Chunk: 24

Company: Mativ Holdings, Inc.
Filing Date: 2025-03-21
Form: DEF 14A
Chunk 24
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25

TABLE OF CONTENTS

to recruit and retain highly talented executives. Compensation paid to our Chief Executive Officer is determined and approved by the Committee using competitive market data analyzed annually by Meridian, based on data provided by Aon. The Committee annually reviews, in consultation with Meridian, and approves the compensation for the Company’s other NEOs in consultation with the Chief Executive Officer using competitive market data, based on data provided by Aon. In establishing 2024 executive compensation, the Committee relied on proxy statement data from the same peer group of 16 companies that was established in August 2022 for purposes of evaluating the Company’s post-Merger compensation decisions. The Committee believes that the Company’s peer group should reflect the industries in which the Company potentially competes for business, executive talent and capital, as well as the Company’s significant international operations. The component companies of the peer group were selected from Aon’s Radford Global Compensation database for manufacturing companies with revenues between one-third and three times the Company’s revenue.

| Peer Companies                                 |     |                                  |
| AptarGroup, Inc.                               |     | Greif, Inc.                      |
| Ashland Global Holdings, Inc.                  |     | H.B. Fuller Company              |
| Avient Corporation (f/k/a PolyOne Corporation) |     | Ingevity Corporation             |
| Axalta Coating Systems Ltd.                    |     | Innospec Inc.                    |
| Cabot Corporation                              |     | Mercer International Inc.        |
| Clearwater Paper Corporation                   |     | Minerals Technologies Inc.       |
| Donaldson Company, Inc.                        |     | Rayonier Advanced Materials Inc. |
| Glatfelter Corporation                         |     | Trinseo PLC                      |

The Committee considers 2024 target total direct compensation to be competitive if it falls with +/-15% of the market median. The analysis evaluates the following components:

| • | base salary; |

| • | annual incentive bonus (assuming attainment of the target objective level, as a percentage of base salary); |

| • | target total cash compensation (base salary plus target level annual incentive); |

| • | long-term incentive compensation (assuming attainment of the target objective level); and |

| • | target total direct compensation, which is the sum of base salary plus annual incentive plus long-term incentive compensation at the target levels. |

In September 2024, the Committee reviewed the compensation peer group and determined not to make any changes to the peer group used for purposes of