Company: THRM
Filing Date: 2025-03-27
Form Type: DEF 14A
Source: 0001140361-25-010582
Chunk: 34

Company: Gentherm Inc
Filing Date: 2025-03-27
Form: DEF 14A
Chunk 34
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 and using derivatives                                                                                                                                |                                                          |                                                                                       |
|                 | No single-trigger change in control benefit for any NEO                                                                                                                                   |                                                          |                                                                                       |
|                 | No excise tax gross-up benefits upon a change in control                                                                                                                                  |                                                          |                                                                                       |
|                 | Historically have not paid guaranteed bonuses, excluding inducement and new hire bonuses                                                                                                  |                                                          |                                                                                       |
|                 | Historically have not changed long-term performance metrics in outstanding equity awards in spite of certain impacts from macroeconomic and geopolitical challenges that were not in our  
 control                                                                                                                                                                                   |                                                          |                                                                                       |

59 | 2025 PROXY STATEMENT

Compensation Philosophy The compensation program for NEOs is designed to attract, motivate and retain qualified executives and to provide them incentives to achieve or exceed the Company’s annual operational, financial and strategic goals and increase long-term shareholder value. Our NEO compensation program is structured appropriately to support our business objectives, as well as our performance-based culture. The Committee regularly reviews the NEO compensation program to ensure the fulfillment of our compensation philosophy and goals. The say-on-pay proposal at our 2024 annual meeting regarding the compensation of NEOs in 2023 received approximately 86% approval. 2024 NEO Compensation Program – Majority Of Target Compensation At Risk In the first quarter of 2024, the Compensation and Talent Committee approved the design of our 2024 NEO compensation program. The Committee approved revisions to the incentive plans that continue the journey of balancing shareholder interests in an environment of continued macroeconomic, geopolitical and industry volatility by reducing the number of metrics and the duplication of metrics. This change allows the management team to focus on core financial metrics that bring shareholder value over the short- and long-term. The below charts show the mix of target pay for our NEOs (base salary, target 2024 bonus and target equity awards) in 2024 as approved by the Committee in March 2024 (1).

| (1) | Excludes deferred compensation for Mr. Eyler and perquisites and other personal benefits provided to our NEOs (disclosed under “All Other Compensation” in the Summary Compensation 
 Table for 2024).                                                                                                                                                                    |

| (2) | Based on target values determined by the Committee, which were divided by the 30-trading day average closing price of our common stock ending on the 
 day immediately preceding the grant date to determine the target PSUs and actual RSUs awarded.                                                       |

60 | 2025 PROXY STATEMENT

CEO Realizable