nVent Electric plc

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

SCHEDULE 14A

Proxy Statement Pursuant to Section 14(a) of the

Securities Exchange Act of 1934 (Amendment No.)

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Preliminary Proxy Statement

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Confidential, for Use of the Commission Only (as permitted by Rule 14a-6(e)(2))

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Definitive Proxy Statement

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Definitive Additional Materials

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Soliciting Material under §240.14a-12

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nVent Electric PLC

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(Name of Registrant as Specified In Its Charter)​

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(Name of Person(s) Filing Proxy Statement, if other than the Registrant)​

PAYMENT OF FILING FEE (CHECK ALL BOXES THAT APPLY):

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No fee required

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Fee paid previously with preliminary materials

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Fee computed on table in exhibit required by Item 25(b) per Exchange Act Rules 14a-6(i)(1) and 0-11

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Notice of Annual General

Meeting and Proxy Statement

Caution Concerning Forward-Looking Statements

This proxy statement contains statements that we believe to be “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. All statements, other than statements of historical fact are forward looking statements. Without limitation, any statements preceded or followed by or that include the words “targets,” “plans,” “believes,” “expects,” “intends,” “will,” “likely,” “may,” “anticipates,” “estimates,” “projects,” “forecasts,” “should,” “would,” “could,” “positioned,” “strategy,” “future,” “are confident,” or words, phrases or terms of similar substance or the negative thereof, are forward-looking statements. All projections in this proxy statement are also forward-looking statements. These forward-looking statements are not guarantees of future performance and are subject to risks, uncertainties, assumptions and other factors, some of which are beyond our control, which could cause actual results to differ materially from those expressed or implied by such forward-looking statements. These factors include adverse effects on our business operations or financial results, including due to the overall global economic and business conditions impacting our business; the ability to achieve the benefits of our restructuring plans; the ability to successfully identify, finance, complete and integrate acquisitions, including the ECM Industries and other recent acquisitions; competition and pricing pressures in the markets we serve, including the impacts of tariffs; volatility in currency exchange rates, interest rates and commodity prices; inability to generate savings from excellence in operations initiatives consisting of lean enterprise, supply management and cash flow practices; inability to mitigate material and other cost inflation; risks related to the availability of, and cost inflation in, supply chain inputs, including labor, raw materials, commodities, packaging and transportation; increased risks associated with operating foreign businesses, including risks associated with military conflicts, such as that between Russia and Ukraine, and related sanctions; the ability to deliver backlog and win future project work; failure of markets to accept new product introductions and enhancements; the impact of changes in laws and regulations, including those that limit U.S. tax benefits; the outcome of litigation and governmental proceedings; and the ability to achieve our long-term strategic operating and ESG goals. Additional information concerning these and other factors is contained in our filings with the U.S. Securities and Exchange Commission, including our Annual Report on Form 10-K and our Quarterly Reports on Form 10-Q. All forward-looking statements speak only as of the date of this proxy statement. nVent assumes no obligation, and disclaims any obligation, to update the information contained in this proxy statement.

Website Information

This Proxy Statement includes website addresses and references to additional materials found on those websites. These websites and materials are not incorporated by reference herein.

Our Strategy and Growth Initiatives

At nVent, we connect and protect and are building a more sustainable and electrified world. We believe our growth strategy focused on high-growth verticals, new products and innovation, global growth, and acquisitions will continue to drive differentiated performance. Our One nVent strategy is helping us scale with velocity, driving common business processes across our company, from commercial excellence, to building a world-class supply chain, to our digital transformation.

With our focus onhigh-growth verticals, we continue to see great momentum in Data Solutions, which is growing with the acceleration of AI and high-performance computing, driving demand for our liquid cooling offerings. Data Solutions grew more than 20% last year and now represents more than $450 million in sales. Withinnew products andinnovation, we had a record year, launching more than 95 new products and achieving a new product vitality of 22%. We completed two strategic acquisitions; ECM Industries, which complemented our electrical power connection and grounding solutions portfolio, and TEXA Industries, which strengthened our position with industrial air conditioners and advanced cooling technologies. With both our acquisitions and our organic growth strategy, we are focused onglobal growth that brings our innovative products and solutions to customers around the world. Our strategy along with our Spark Management system and our Win Right values are driving our strong performance.

Building a More Sustainable and Electrified World

Electrification, sustainability, and digitalization are changing our world. With our innovation and decades of industry expertise, we are well positioned to meet the demands of a more electrified world and help our customers drive a more sustainable future. Our Enclosures solutions play a pivotal role in protecting electronics and data across mission-critical applications. From liquid cooling and power distribution in data centers, to critical applications in energy storage and industrial automation, we improve reliability and energy efficiency for our customers. Our Electrical and Fastening Solutions offer resilient and labor-saving solutions that reduce installation time and improve end-user safety across power utilities, smart buildings, renewable energy and e-mobility applications. And our Thermal Management solutions provides heat management and controls that are critical in the energy transition for liquefied natural gas, bio fuels, hydrogen, and carbon capture applications.

Environmental, Social, and Governance (ESG) Progress

ESG is core to our business strategy and how we operate. Last year we made significant progress across our ESG focus areas of People, Products, Planet, and Governance. In 2023 we were awarded our first gold sustainability rating from EcoVadis, placing us in the top 3% of companies assessed in our industry and the 93 rd percentile of all businesses assessed. We also are very proud that we were recognized by Ethisphere as one of the 2024 World’s Most Ethical Companies®, demonstrating our commitment to integrity, which is one of our core values at nVent. Additionally, we were recognized as one of America’s Greenest Companies 2024 by Newsweek, named to the 2023 Fortune Best Workplaces in Manufacturing & Production List, and a finalist for the 2023 NACD Diversity, Equity, and Inclusion Award. We believe our people and culture are a differentiator. Our new products and innovation are key to building a more sustainable and electrified world and we are committed to protecting our natural resources through responsible energy, waste and water management.

Looking Ahead

I am very proud of what we’ve accomplished in our first five years, but I am even more excited for the opportunities ahead of us. We are well positioned to grow with the electrification of everything and sustainability and digitalization trends. At nVent, we are building a more sustainable and electrified world. Our future is bright!

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At nVent, we connect and protect our customers with inventive electrical solutions. We believe that safer systems ensure a more secure world. With this at the center of our mission, we embrace the opportunity and the responsibility in our role as an engaged corporate citizen. We are committed to continuously improving our ESG efforts and communicating with our stakeholders on our progress. We live ESG every day through our employees, our operations and our communities, and it is an integrated part of our strategy. We believe our commitment to ESG and continuous improvement will guide us toward a more sustainable future.

We conducted our first ESG materiality assessment in 2019, and the feedback we received from both internal and external stakeholders helped us focus on how we can make a meaningful impact in our world. Based on these key insights, we developed our three pillars — People, Products and Planet. We believe our goals within these three pillars demonstrate our commitment to ESG.

We are driving a culture focused on inclusion, diversity, employee engagement, safety and integrity. We are developing innovative solutions that deliver efficiency, safety and reduced resource consumption, creating a more sustainable future. We are operating with responsible energy, waste and water management practices to help protect natural resources.

We expect to release our next report in the second quarter of 2024 covering our initiatives and progress during 2023.

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2023 ESG Highlights

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Shareholder Engagement

Understanding the issues our shareholders care about is critical to good governance. We have worked to establish a robust engagement program so that we continuously receive shareholder input regarding our financial performance, strategy, capital allocation, executive compensation, environmental, social and governance matters, and other topics that are front-of-mind for our shareholders.

All year, we participate in investor conferences and events, and regularly engage with shareholders to understand their perspectives and areas of focus.

In the fall of 2023, we invited shareholders representing over half of our outstanding shares to engage with us, and we held calls with shareholders representing approximately 26% of our outstanding shares.* Details regarding our fall outreach efforts are presented below:

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nVent outstanding shares and shareholder ownership are as of the time of fall outreach, which reflects June 30, 2023 data. Shareholder ownership is based on publicly disclosed ownership.

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Notice of Annual General Meeting of Shareholders

To Be Held May 17, 2024

Our Annual General Meeting of Shareholders will be held at The Lanesborough London, Hyde Park Corner, London, SW1X 7TA, United Kingdom, on Friday, May 17, 2024, at 8:00 a.m. British Summer Time, to consider and vote upon the following proposals; provided that if we are unable to hold the meeting at this location, date and/or time, it will be held at an alternative location, date and/or time that we will publicly announce:

To consider and act on such other business as may properly come before the Annual General Meeting or any adjournment.

Proposals 1, 2, 3 and 4 are ordinary resolutions, requiring the approval of a simple majority of the votes cast at the meeting. Proposals 5 and 6 are special resolutions, requiring the approval of not less than 75% of the votes cast at the meeting.

Only shareholders of record as of the close of business on March 20, 2024 are entitled to receive notice of and to vote at the Annual General Meeting.

If you are a shareholder entitled to attend, speak and vote at the Annual General Meeting, you are entitled to appoint a proxy or proxies to attend, speak and vote on your behalf. A proxy need not be a shareholder. If you wish to appoint as proxy any person other than the individuals specified on the proxy card, please contact our Corporate Secretary at our registered office or deliver to the Corporate Secretary at our registered office a proxy card in the form set out in section 184 of the Irish Companies Act 2014; please also note that your nominated proxy must attend the Annual General Meeting in person in order for your vote to be cast.

At the Annual General Meeting, management will review nVent Electric plc’s affairs and will also present nVent Electric plc’s Irish statutory financial statements for the fiscal year ended December 31, 2023 and the reports of the directors and the statutory auditors thereon.

By Order of the Board of Directors,

Jon Lammers

Corporate Secretary

April 2, 2024

Important Notice Regarding the Availability of Proxy Materials for the Shareholder Meeting to Be Held on May 17, 2024. The Annual Report, Notice of Annual General Meeting, Proxy Statement and Irish Statutory Financial Statements and Related Reports are available by Internet atwww.proxyvote.com.

Shareholders in Ireland may participate in the Annual General Meeting by audio link at the offices of Arthur Cox, Ten Earlsfort Terrace, Dublin 2, Ireland, at 8:00 a.m. Irish Standard Time. See “Questions and Answers About the Annual General Meeting and Voting” for further information on participating in the Annual General Meeting in Ireland.

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TABLE OF CONTENTS​​​

Proxy Statement for the Annual General Meeting

of Shareholders of nVent Electric plc to be held

on Friday, May 17, 2024

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This summary highlights information contained elsewhere in this proxy statement. This summary does not contain all of the information you should consider, and you should read the entire proxy statement before voting. Proxy materials are being made available on or about April 2, 2024 to our shareholders entitled to vote at the Annual General Meeting.

Voting Matters and Recommendations

Board and Governance Highlights

Director Nominees

For the 2024 Annual General Meeting, our Board has recommended the following director nominees.

Committee Member: Committee Chair:

Upon completion of the 2024 Annual General Meeting, Ms. Palmer will join the Compensation and Human Capital Committee and the Governance and Social Responsibility, and leave the Audit and Finance Committee.

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Overview of the Board

Our Board of Directors (our “Board”) considers a variety of factors described below under “Director Qualifications, Diversity and Tenure” when assessing the qualifications of Board nominees. Eight of our nine nominees are independent, and four have CEO experience. Two of our Board Committee chairs are racially diverse, and our lead director is gender diverse.

At nVent, we believe that diversity extends beyond age, race and gender. In 2024, our Board conducted a voluntary self-identification exercise for additional dimensions of diversity including disability status, status as a veteran or spouse of a veteran, and LGBTQ+ status. Four of our Director nominees identified with one or more of these characteristics, which we believe enhances the impact our Board is able to bring due to their varying experiences. When considering these additional dimensions of diversity in addition to race and gender, eight of our nine Director nominees are diverse.

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Our director nominees’ average tenure is calculated by full years of completed service based on date of initial appointment or election to our Board.

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Executive Compensation Highlights

These executive compensation highlights should be read in connection with the Executive Compensation section of this Proxy Statement, including the Compensation Discussion and Analysis section (see page 35).

Our Compensation Philosophy

The Compensation and Human Capital Committee believes that the most effective executive compensation program aligns executive initiatives with shareholders’ economic interests. The Committee seeks to accomplish this by rewarding the achievement of specific annual and long-term and strategic goals that create lasting shareholder value. The Committee’s specific objectives include:

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to motivate and reward executives for achieving annual and long-term financial objectives;

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to align management and shareholder interests by encouraging employee stock ownership;

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to provide rewards commensurate with individual and company performance;

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to encourage growth and innovation; and

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to attract and retain top-quality executives and key employees.

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To balance these objectives, our executive compensation program uses the following direct compensation elements:

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base salary, to provide fixed compensation competitive in the marketplace;

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annual incentive compensation, to reward short-term performance against specific financial targets; and

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long-term incentive compensation, to link management incentives to long-term value creation and shareholder return.

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The Compensation and Human Capital Committee reviews total compensation for executive officers and the relative levels of each of these forms of compensation against the Committee’s goals. The mix of total direct compensation (shown at target) for 2023 for our Chair and Chief Executive Officer and the average of the other executive officers named in the Summary Compensation Table below (our “Named Executive Officers”) is shown in the charts below.

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2023 Target Direct Compensation Mix

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