Company: NGVT
Filing Date: 2025-03-19
Form Type: PRER14A
Source: 0001308179-25-000166
Chunk: 44

Company: Ingevity Corp
Filing Date: 2025-03-19
Form: PRER14A
Chunk 44
---
 for our stockholders. The performance metrics for our 2025 PSUs will have a three-year performance period, measuring rTSR performance (60%) and three-year adjusted EBITDA* growth (40%). The T&C Committee established threshold, target, and maximum performance targets for the one-year performance period from January 1, 2024, through December 31, 2024, with respect to each metric. At the time the performance levels were set, the target level of performance was believed to be challenging but achievable, and the maximum level was believed to be achievable, but only with exceptional performance. There is no payout for performance below threshold. Payout at threshold is at 25% of PSUs granted, at target is 100% of PSUs granted, and at maximum is 200% of PSUs granted. Linear interpolation is used to determine award payouts between these pre-determined points. Payout of PSUs based on performance against the metrics for the performance period is then subject to the rTSR modifier described above. The T&C Committee certified performance for the 2024 PSUs as follows:

| Metric               |     | Threshold |     | Target |     | Maximum |     | Actual Performance |     | Payout |
| Adjusted EPS* (70%)  |     |     $3.53 |     |  $4.13 |     |   $4.46 |     |              $3.78 |     | 41%    |
| Adjusted ROIC* (30%) |     |     8.00% |     | 11.00% |     |  11.80% |     |              12.2% |     | 200%   |

| * | See                                                                                  
 Appendix A for more details on the calculation of actual performance on the Adjusted 
 EPS and Adjusted ROIC.                                                               |

The estimated payout for the 2024 PSUs based on the certified performance levels is 89% of the target amount. 2024 PSU awards earned will be finally determined, and will cliff vest, on the third anniversary of the grant date following application of the rTSR modifier. PSU metric adjustments Under the Omnibus Plan, the T&C Committee may adjust results for PSU metrics from time to time to exclude the effect of certain non-recurring items of gain or loss or other significant out of the ordinary matters (such as mergers, acquisitions, and dispositions; entry into joint ventures; significant restructurings;