Company: CVGI
Filing Date: 2025-04-16
Form Type: DEF 14A
Source: 0001628280-25-017895
Chunk: 22

Company: Commercial Vehicle Group, Inc.
Filing Date: 2025-04-16
Form: DEF 14A
Chunk 22
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 or tax withholding requirements of stock options, restricted stock, other Full-Value Awards and stock appreciation rights (including any shares not issued as a result of net-settlement of stock-settled SARs).

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• No repricing of stock options or stock appreciation rights. The Amended and Restated 2020 Equity Incentive Plan does not permit the repricing of stock options or stock appreciation rights either by amending an existing award or by substituting a new award at a lower price without shareholder approval.

• No cash buyouts of underwater stock options or stock appreciation rights. The Amended and Restated 2020 Equity Incentive Plan does not permit the cash buyout of stock options or stock appreciation rights if such awards are not “in the money” without shareholder approval.

• No discounted stock options. The Amended and Restated 2020 Equity Incentive Plan prohibits the granting of stock options with an exercise price less than the fair market value of the common stock on the date of grant.

• Limitation on term of stock options. The maximum term of each stock option is ten years.

• Stock ownership guidelines. To further align their economic interests with those of our shareholders, the Company adopted guidelines generally requiring each of our executive officers and directors to own a certain amount of our common stock, and with respect to awards under the Amended and Restated 2020 Equity Incentive Plan, executive officers and directors may not sell any shares awarded for a minimum of one-year post-vesting and until compliance with the stock ownership guidelines is reached, except that executive officers may elect to choose the voluntary forfeiture of shares to satisfy annual tax withholding obligations associated with vested shares.

• Minimum restriction periods. The Amended and Restated 2020 Equity Incentive Plan provides for a one-year minimum restriction period for time-based stock awards to employees, a one-year minimum restriction period for performance-based awards to employees, and a one-year minimum vesting period for stock option and SAR, subject in each case to the Compensation Committee’s discretion to waive or provide for the lapse of such restriction in the event of death or disability. Shorter vesting periods may apply to awards covering up to 5% of the number of shares reserved under the Amended and Restated 2020 Equity Incentive Plan.

• Clawback policy. We have adopted a clawback policy, which is intended to comply with the requirements of NYSE Listing Standard 303A.14 implementing Rule 10D