LOGITECH INTERNATIONAL S.A.
For the period ended Mar 31, 2026. Filed Jul 23, 2026.
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Mar 31, 2026 · Filed Jul 23, 2026
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Contents
Compensation-Setting Process
Role of the Compensation Committee
The Compensation Committee, among its other responsibilities, establishes our overall compensation philosophy and reviews and approves our executive compensation program, including the specific compensation of our NEOs. The Compensation Committee has the authority to retain compensation consultants and other advisors, including legal counsel, to assist in carrying out its responsibilities. The Compensation Committee’s authority, duties, and responsibilities are described in its charter, which is reviewed annually and updated as warranted. The charter is available on Logitech's website athttp://ir.logitech.com.
While the Compensation Committee ultimately determines our overall compensation philosophy and approves the compensation of our NEOs, it considers the recommendations of its compensation consultants and other advisors, as well as our CEO, CFO, Head of People & Culture, and compensation department. The Compensation Committee makes all final decisions regarding executive compensation, including base salary levels, target annual cash bonus opportunities, actual cash bonus payments, and long-term incentives in the form of equity awards. The Compensation Committee meets on a regularly-scheduled basis and at other times as needed. The Compensation Committee periodically reviews compensation matters with our Board of Directors. The Chairperson of the Compensation Committee reports to the Board of Directors on the activities of the Compensation Committee at quarterly board meetings, and the minutes of the Compensation Committee meetings are available to the members of the Board of Directors.
As noted above, before the beginning of each fiscal year, the Compensation Committee conducts a comprehensive review of Logitech's executive compensation program for our NEOs to ensure that its components, actions, and decisions (i) are well-coordinated, (ii) align with our vision, mission, values, and strategic priorities, (iii) provide appropriate short-term and long-term incentives, (iv) fulfill their intended objectives, and (v) remain competitive with compensation offered to executives in similar roles at peer companies. Based on this evaluation, the Compensation Committee implements any necessary adjustments to existing plans and arrangements or introduces new plans or arrangements to maintain an effective and competitive compensation framework.
The Compensation Committee also conducts an annual review of our executive compensation strategy to ensure alignment with the Company's strategic priorities and achievement of our desired objectives. Additionally, the Compensation Committee evaluates market trends and changes in competitive compensation practices, as further described below.
The Compensation Committee considered the following factors when determining the target total direct compensation of our NEOs for fiscal year 2026:
Each individual NEO’s performance and contribution to building a high-performing leadership team;
Each individual NEO’s skills, experience, qualifications, and marketability;
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The Company’s performance against financial goals and objectives;
The Company’s performance relative to both industry competitors and its compensation peer group;
The positioning of the amount of each NEO’s compensation in a ranking of peer compensation;
Compensation practices at peer companies;
Alignment of executive compensation with shareholder interests;
The unique considerations of operating as a dual-listed Swiss and U.S. multinational technology company;
Efforts to maintain a diverse and inclusive environment that drives competitive advantage through varied perspectives; and
Recommendations from the CEO (except with respect to the CEO's own compensation) as further described below.
The Compensation Committee does not use a predetermined formula or assign specific weight to any one factor when making executive compensation decisions. Instead, the Compensation Committee members considered their individual experience, knowledge of the Company, understanding of each NEO, awareness of the competitive market, and overall business judgment to guide their decisions regarding executive compensation and the executive compensation program.
Our Chairperson of the Board of Directors works closely with the Compensation Committee in determining the compensation of our CEO. Each year, the non-employee members of the Board of Directors evaluate the performance of our CEO, which the Compensation Committee considers when making decisions about base salary adjustments, target annual cash bonus opportunities, actual cash bonus payments, and long-term incentives in the form of equity awards.
Role of our CEO
Our CEO works closely with the Compensation Committee in determining the compensation of our non-CEO NEOs. Typically, our CEO works with the Compensation Committee to recommend the structure of the Annual Bonus Plan, to identify and develop corporate performance objectives for such plan, and to evaluate actual performance against the selected measures. Additionally, our CEO and Compensation Committee work together to determine the appropriate form and performance goals for our equity compensation program.
At the beginning of each year, our CEO conducts a performance review of our non-CEO NEOs for the prior year and makes recommendations to the Compensation Committee for each element of compensation, taking into consideration historical compensation awards to our non-CEO NEOs and our corporate performance during the preceding year. These recommendations cover base salary adjustments, target annual cash bonus opportunities, actual bonus payments, and long-term incentives in the form of equity awards for each of our non-CEO NEOs and are based on our results, the individual non-CEO NEO's contribution to these results, and the non-CEO NEO's performance toward achieving their individual performance goals. The Compensation Committee then reviews the CEO's recommendations and makes decisions as to the target total direct compensation of each non-CEO NEO, as well as each individual compensation element.
While the Compensation Committee considers our CEO’s recommendations, as well as the competitive market analysis provided by external compensation consultants, these recommendations and market data serve as only two of several factors in making its decisions with respect to the compensation of our non-CEO NEOs. Ultimately, the Compensation Committee applies its own business judgment and experience to determine the individual compensation elements and amounts. Importantly, no NEOs participate in the determination of the amounts or elements of their own compensation.
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Role of Compensation Consultants
In accordance with its charter, the Compensation Committee has full authority to retain compensation consultants and other advisors, including legal counsel, as needed to support its responsibilities. The Compensation Committee oversees all aspects of these engagements, including the selection of advisors, approval of fees, and determination of services provided. Advisors engaged by the Compensation Committee report directly to the Compensation Committee. Additionally, the Compensation Committee may replace its compensation consultants or hire additional advisors at any time.
The Compensation Committee historically retained the services of Compensia, Inc. ("Compensia") as its independent U.S. compensation consultant and PwC Switzerland as its Swiss compensation consultant. In September 2025, the Compensation Committee appointed Meridian Compensation Partners, LLC ("Meridian") as its new independent U.S. compensation consultant and continued to retain PwC Switzerland as its Swiss compensation consultant. The Compensation Committee engages compensation consultants to provide information, analysis, and other assistance relating to our executive compensation program on an ongoing basis. The nature and scope of the services provided to the Compensation Committee by the independent compensation consultants in fiscal year 2026 were as follows:
Reviewed and recommended updates to the compensation peer group;
Provided advice with respect to compensation best practices and market trends for NEOs and members of our Board of Directors;
Conducted an analysis of the levels of overall compensation and each element of compensation for our NEOs;
Conducted an analysis of the levels of overall compensation and each element of compensation for the members of our Board of Directors;
Conducted a compensation risk assessment;
Assisted in our equity compensation strategy; and
Provided legislative updates and ad hoc advice and support on compensation matters throughout the year.
The independent compensation consultants regularly attend Compensation Committee meetings and also engage with the Compensation Committee outside of formal meetings. While the compensation consultants report to the Compensation Committee, they work with members of management, including our CEO and members of our executive compensation team, for purposes of understanding proposals that management may make to the Compensation Committee.
The Compensation Committee evaluates the independence of the compensation consultants annually, taking into account, among other things, the six independence-related factors as set forth in Exchange Act Rule 10C-1 issued by the SEC under the Dodd–Frank Act and the enhanced independence standards and factors set forth in the applicable listing standards of the Nasdaq Stock Market. Besides the services mentioned above, neither Compensia nor Meridian have provided any other services or received compensation other than with respect to the services described above. PwC provided consulting services to the Company and received total fees of approximately $503,000 during fiscal year 2026, of which $57,000 was for NEO compensation consulting services and $446,000 for other consulting services. Following its most recent assessment, the Compensation Committee concluded that its relationship with each independent compensation consultant, as well as the services performed on behalf of the Compensation Committee, do not present any conflict of interest.
Compensation Peer Group and Market Data
The Compensation Committee reviews competitive market data and analyses regarding executive compensation practices and pay levels. These materials include information from a peer group selected by the Compensation Committee, as well as broader compensation survey data.
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For fiscal year 2026, at the direction of the Compensation Committee, Compensia evaluated the existing compensation peer group and used the criteria set forth in the following table to objectively identify companies for inclusion in the group:
| Criteria | Rationale |
| Industry | We compete for talent with companies in the technology industry. |
| Financial Scope | Our NEOs' compensation should be similar to senior executives at companies that have comparable financial characteristics including revenue and market capitalization. |
| Other Factors | When necessary, we apply additional refinement criteria — both objective or subjective — such as revenue growth, profitability, valuation, headcount, geography, or business model.While Logitech is a Swiss company, we primarily compete for executive talent with U.S. publicly traded technology companies, particularly those in the high-tech sector of Silicon Valley. |
Based on these criteria, the Compensation Committee approved the following peer group of 19 publicly-traded companies, which it used as a reference when making compensation decisions with respect to setting compensation for fiscal year 2026:
| Ciena Corporation | Keysight Technologies, Inc. | Teradyne, Inc. |
|---|---|---|
| Coherent Corp. | NCR Voyix Corporation | Trimble Inc. |
| Electronic Arts Inc. | NetApp, Inc. | Vertiv Holdings Co |
| F5, Inc. | Pure Storage, Inc. | Zebra Technologies Corporation |
| Garmin Ltd. | Qorvo, Inc. | Zoom Communications, Inc. |
| Hubbell Incorporated | Sensata Technologies Holding plc | |
| Juniper Networks | Skyworks Solutions, Inc. |
Super Micro Computer, Inc. was removed from our peer group due to its accounting violations and as its revenue was no longer aligned with Logitech and its peer companies.
The following table sets forth the revenue and market capitalization of compensation peer group as of January 2025, when the peer group was approved, as compared to the same data for Logitech:
| (in millions) | Revenue | Market Capitalization |
|---|---|---|
| 75th Percentile | $5,337 | $24,772 |
| 50th Percentile | $4,628 | $20,458 |
| 25th Percentile | $3,711 | $13,474 |
| Logitech | $4,556 | $12,991 |
| Percentile Rank | 49th | 24th |
The table reflects available revenue information for four quarters ending January 31, 2025 and 30-day average market capitalization as of January 31, 2025 as provided by Compensia.
The market analysis provided by Compensia, and considered by the Compensation Committee in its review of our NEOs’ compensation, uses multiple sources of data: the compensation peer group described above and a broad custom survey of similarly sized technology companies. The broad technology survey data, which is necessary to provide market data where we do not have publicly disclosed information from our peers, is made up of companies that participated in the Radford Global Technology Survey with comparable revenue and market profile to the compensation peer group.
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The Compensation Committee believes that information regarding the compensation practices at other companies is useful in at least two respects. First, the Compensation Committee recognizes that our compensation policies and practices must be competitive in the marketplace. Second, the information is useful in assessing the reasonableness and appropriateness of individual executive compensation elements and our overall executive compensation packages. Competitive market and peer group data is only one of several factors (as described above) that the Compensation Committee considers, however, in making its decisions with respect to the compensation of our NEOs.
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