Company: GWW
Filing Date: 2025-03-07
Form Type: DEF 14A
Source: 0001104659-25-021496
Chunk: 48

Company: W.W. GRAINGER, INC.
Filing Date: 2025-03-07
Form: DEF 14A
Chunk 48
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) in High-Touch Solutions—U.S. business.                                          
 •  Operating margin decreased 20 bps to 15.5% on an adjusted basis as stable gross margin was partially offset by continued demand generation investment.(1) 
 •  Increased diluted EPS by 6.8% on a reported basis and 6.2% on an adjusted basis.(1)Achieved a one-year TSR of 28.2% and three-year TSR of 109.8%.         | ​ | ​ | ​ | 2024 NEO compensation reflects our pay for performance design:                                         
 •  2024 short and long-term incentive payouts correspond with solid performance.                       
 •  The NEO annual incentive payout was 97% of target and the 2022 PSU cycle payout was 118% of target. | ​ |

2024 Compensation Program Overview (1) See Appendix B of this proxy statement for information regarding compensation and non-GAAP financial measures, including a reconciliation of non-GAAP financial measures to the most directly comparable generally accepted accounting principles (“GAAP”) financial measures. The 2024 MIP financial metrics are modified for the Company’s current year planned foreign currency exchange rates used when setting initial targets resulting in total Company daily, organic constant currency sales of 4.5% and total Company adjusted ROIC of 41.4%.

| ​ | CORPORATEGOVERNANCE | ​ | ​ | PROPOSAL 1:ELECTION OFDIRECTORS | ​ | ​ | PROPOSAL 2:RATIFY THEINDEPENDENTAUDITOR | ​ | ​ | EXECUTIVECOMPENSATION | ​ | ​ | PROPOSAL 3:SAY ON PAY | ​ | ​ | PROPOSAL 4: APPROVALAND ADOPTION | ​ | ​ | QUESTIONS ANDANSWERS | ​ | ​ | APPENDICES | ​ |

TABLE OF CONTENTS

| ​ | invest.grainger.com | ​ | ​ | 39 | ​ | ​ | ● | ​ |

| ​ | Executive Summary​ | ​ |

The Company’s compensation programs are based upon a philosophy that is applied to all Company employees—to attract and retain the best people and provide them with appropriate performance-based incentives that encourage them to achieve results that create long-term shareholder value. Named Executive Officers (NEOs) for 2024

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