nVent Electric plc
For the period ended May 16, 2025. Filed Apr 1, 2025.
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What shareholders are asked to vote on at a company's meeting. It is where to find what directors and top executives are paid, and who owns the most shares.
May 16, 2025 · Filed Apr 1, 2025
Contents
Comparative Framework
regarding our compensation philosophy and practices and considered the Say-on-Pay vote results in the context of engaging with shareholders and designing our executive compensation programs.
We heard the following themes from our shareholders during our engagement initiatives in 2024:
Our executive compensation program reflects pay-for-performance with the majority of pay at risk, utilizes industry market practices and is aligned with our strategic objectives
Continued positive feedback on the inclusion of the Environmental, Social, and Governance (ESG) Scorecard in our annual incentive plan
Comparative Framework
In setting compensation for our executive officers, including our Named Executive Officers, the Compensation and Human Capital Committee uses competitive compensation data from an annual total compensation study of selected peer companies (our “Comparator Group”) and other relevant survey sources to inform its decisions about overall compensation opportunities and specific compensation elements. Additionally, the Committee uses multiple reference points when establishing targeted compensation levels. The Committee applies judgment and discretion in establishing targeted pay levels, taking into account not only competitive market data, but also factors such as company, business segment and individual performance, scope of responsibility, critical needs and skill sets, experience, leadership potential and succession planning. The Committee selects companies for inclusion in the Comparator Group based on several important criteria:
publicly-traded on a major exchange;
similar in business scope and/or operations to our segments and global in nature;
within a reasonable revenue range (generally 0.5x to 2x) compared to our revenue;
where we compete for talent; and
engaged in the same or a similar industry to ours, based on Global Industry Classification Standard (“GICS”) code: electrical components and equipment, electronic components and industrial machinery.
The Committee worked with WTW to develop our Comparator Group for use in setting target compensation for 2024 for our executive officers, including our Named Executive Officers. Our Comparator Group for 2024 included the following 20 peer companies, which had revenues ranging from approximately $1.7 billion to $6.6 billion, with median revenues of approximately $3.5 billion:
| | Acuity Brands, Inc. | | | Altra Industrial Motion Corp. | | | AMETEK, Inc | |
|---|---|---|---|---|---|---|---|---|
| | Atkore Inc. | | | Belden Inc. | | | EnerSys | |
| | ESAB Corporation | | | Generac Holdings Inc. | | | Graco Inc. | |
| | Hubbell Incorporated | | | IDEX Corporation | | | ITT Inc. | |
| | Kennametal Inc. | | | Lincoln Electric Holdings, Inc. | | | Littelfuse, Inc. | |
| | Regal Rexnord Corporation | | | Sensata Technologies Holding plc | | | SPX Corporation | |
| | The Timken Company | | | Woodward, Inc. | | | | |
Following its annual review of the Comparator Group in preparation for setting 2025 compensation, the Committee removed Altra Industrial Motion Corp. due to its acquisition by Regal Rexnord Corporation.
2025 Proxy Statement 35
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.