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Gentherm Inc

For the period ended May 14, 2026. Filed Apr 1, 2026.

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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 14, 2026 · Filed Apr 1, 2026

Use the contents to explore the available documents and sections.

THRM$29.47-0.5%Stored close · as of Nov 6, 2026
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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. )

Filed by the Registrant ☒

Filed by a Party other than the Registrant ☐

Check the appropriate box:

☐Preliminary Proxy Statement
☐Confidential, for Use of the Commission Only (as permitted by Rule 14a-6(e)(2))
☒Definitive Proxy Statement
☐Definitive Additional Materials
☐Soliciting Material under §240.14a-12

Gentherm Incorporated

(Name of registrant as Specified In Its Charter)

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

Payment of Filing Fee (Check all boxes that apply):

☒No fee required
☐Fee paid previously with preliminary materials
☐Fee computed on table in exhibit required by Item 25(b) per Exchange Act Rules 14a-6(i)(1) and 0-11

April 1, 2026

Dear Gentherm Shareholders:

On behalf of the Board of Directors, I invite you to attend the 2026 annual meeting of shareholders on Thursday, May 14, 2026, at 8:30 a.m., Eastern Daylight Time. The annual meeting will be held in a virtual-only format to provide broad access for shareholders and employees. We encourage you to submit your proxy vote in advance of the meeting by following the instructions on the accompanying proxy card.

In 2025, the Board delivered on its commitment to a seamless leadership transition with its planned succession welcoming Bill Presley as the new President, CEO and Board Director, and Jon Douyard as the new Executive Vice President, Chief Financial Officer and Treasurer. Bill and Jon hit the ground running within the organization and beyond through a concerted effort with external stakeholders.

One of the Board’s most important responsibilities is to oversee the development and execution of the Company’s long-term strategy, and during 2025, we were highly engaged in the refinement of the corporate strategy. Throughout the year, the Board played a role in reviewing strategic plans, assessing capital allocation priorities, and evaluating major business development opportunities, including mergers and acquisitions. We unanimously support the Company’s long-term strategy and acquisition of Modine Performance Technologies. We believe this will position the Company as a truly differentiated supplier with a stronger product portfolio, broader end-market diversification, and an enhanced platform for profitable growth. The transaction is expected to close by the end of 2026. We will continue to work closely with management to drive the Company’s success on its transformational growth journey.

On behalf of the Board and Gentherm’s global team, thank you for your continued investment and support of Gentherm. We respectfully request you to vote in accordance with our recommendations at the 2026 annual meeting.

Sincerely,

Ron Hundzinski

Chair, Gentherm Board of Directors

NOTICE OF 2026 ANNUAL MEETING OF SHAREHOLDERS

Meeting DateTimeVirtual LocationRecord Date
Thursday, May 14, 20268:30 a.m. Eastern Daylight Timewww.virtualshareholdermeeting.com/THRM2026March 17, 2026
PROPOSAL · BOARD OF DIRECTORS RECOMMENDATION · PROPOSAL PAGES
01Election of Nine Directors. To elect nine directors named in the accompanying proxy statement, each to serve for a one-year term until the 2027 annual meeting of shareholders and until a successor has been duly elected and qualified, or until such director’s earlier resignation, retirement or other termination of service.FOR each nominee2 – 13
02Say-on-Pay. To approve (on an advisory basis) the compensation of our named executive officers.FOR approval32 - 33
03Ratify Appointment of Ernst & Young for 2026. To ratify the appointment of Ernst & Young LLP as our independent registered public accounting firm for the year ending December 31, 2026.FOR ratification73 - 74
04Amendment to Gentherm Incorporated 2023 Equity Incentive Plan. Approval of an Amendment to the Gentherm Incorporated 2023 Equity Incentive Plan to increase by 1,700,000 the maximum number of shares of common stock that may be issued pursuant to awards granted under the 2023 Equity Incentive Plan.FOR approval78 - 87

We will also transact any other business that may properly come before the meeting or any postponement or adjournment of the meeting. We are not aware of any such business. Only holders of our common stock at the close of business on March 17, 2026, the record date, are entitled to receive this notice and to attend and vote at the annual meeting.

We have designed the format of the annual meeting to provide our shareholders with similar rights and opportunities to participate to what they would have at an in-person meeting. If you encounter any difficulties accessing the virtual meeting website, please call the technical support number that will be posted on the meeting log-in page.

By Order of the Board of Directors

Wayne Kauffman

Senior Vice President, General Counsel and Secretary

Novi, Michigan

April 1, 2026

Your vote is very important. Whether or not you plan to attend the meeting, we urge you to vote promptly. If you virtually attend the annual meeting, you may revoke your proxy in accordance with the procedures set forth in the accompanying proxy statement and vote online during the meeting.

Important Notice: Regarding the availability of proxy materials for the shareholder meeting to be held May 14, 2026. The Notice of 2026 Annual Meeting of Shareholders, the accompanying Proxy Statement, and the 2025 annual report to shareholders are available at www.proxyvote.com.

Technology to the next degree™www.gentherm.com
PROPOSAL NO. 1—ELECTION OF DIRECTORS2
Board Leadership4
Director Skills, Experience and Qualifications5
Director Recruitment and Board Refreshment7
2026 Director Nominees8
Director Independence13
DIRECTOR COMPENSATION14
CORPORATE GOVERNANCE16
Additional Resources17
Key Policies and Practices18
Standing Committees of the Board20
Key Oversight by Board and Board Committees26
Shareholder Engagement29
Shareholder Communication with the Board29
EXECUTIVE OFFICERS30
PROPOSAL NO. 2—ADVISORY VOTE ON NAMED EXECUTIVE OFFICER COMPENSATION32
COMPENSATION DISCUSSION AND ANALYSIS34
Executive Summary35
2025 Compensation Determinations39
2026 Initial Compensation Decisions48
Process for Making Compensation Determinations48
Additional Compensation Policies49
COMPENSATION AND TALENT COMMITTEE REPORT52
NAMED EXECUTIVE OFFICER COMPENSATION TABLES53
Summary Compensation Table for 2025, 2024 and 202353
Grants of Plan-Based Awards in 202556
Outstanding Equity Awards at December 31, 202558
Option Exercises and Stock Vested in 202559
Nonqualified Defined Contribution and Other Nonqualified Deferred Compensation Plans for 202559
Potential Payments Upon Termination or Change in Control at December 31, 202560
Pay Versus Performance65
CEO Pay Ratio69
RELATED PERSON TRANSACTIONS71
SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT72
PROPOSAL NO. 3—RATIFICATION OF APPOINTMENT OF INDEPENDENT AUDITOR73
AUDIT COMMITTEE REPORT75
AUDIT COMMITTEE MATTERS77
PROPOSAL NO. 4—AMENDMENT TO THE GENTHERM INCORPORATED 2023 EQUITY INCENTIVE PLAN78
Proposed Amendment79
Summary of the 2023 Equity Plan, as Proposed to be Amended81
Federal Income Tax Consequences85
Equity Compensation Plans87
Interests of Directors and Executive Officers; New Plan Benefits87
ABOUT THE ANNUAL MEETING88
ADDITIONAL INFORMATION92
Forward-Looking Statements92
Delinquent Section 16(a) Reports92
Solicitation by Board; Expenses92
Requirements for Submission of Shareholder Proposals and Nominations for 2027 Annual Meeting92
Householding for Shareholders Sharing the Same Address93
APPENDIX A—FIRST AMENDMENT TO 2023 EQUITY PLAN94
APPENDIX B—2023 EQUITY PLAN, AS AMENDED95

Non-GAAP Financial Measures. This proxy statement includes non-GAAP financial measures that excludes the impact of certain amounts. For their definitions, supplemental information and reconciliations to the most directly comparable GAAP financial measure, see our earnings release issued on February 19, 2026 that was furnished to the SEC on a Form 8-K as of such date.

INDEX OF FREQUENTLY REQUESTED INFORMATION

TopicPage
Audit Fees77
Board Leadership4
CEO Pay Ratio69
Clawback Policy50
Director Attendance20
Director Independence, Age and Tenure6; 13
Director Nominee Backgrounds8
Director Skills and Experience6
Elements of Compensation38
Pay Versus Performance65
TopicPage
Peer Group49
Required Approvals for Proposals92
Risk Oversight of Board26
Securities Trading Policy; No Hedging and Pledging20; 50
Standing Committees of the Board20
Stock Ownership Guidelines – Directors15
Stock Ownership Guidelines – Officers49
Succession Planning and Board Refreshment7
Target Pay Mix37

2026 PROXY STATEMENT

PROXY STATEMENT │ ANNUAL MEETING OF SHAREHOLDERS │MAY 14, 2026

GENERAL INFORMATION ABOUT THE ANNUAL MEETING

This proxy summary does not contain all of the information that you should consider. You should read the entire proxy statement before voting. For more complete information regarding the 2025 performance of Gentherm Incorporated (“Gentherm”, “we”, “us”, “our” or the “Company”), review our 2025 annual report to shareholders.

ATTEND AND VOTE AT ANNUAL MEETING

Meeting DateTimeVirtual LocationRecord Date
Thursday, May 14, 20268:30 a.m. Eastern Daylight Timewww.virtualshareholdermeeting.com/THRM2026March 17, 2026

PLEASE VOTE TODAY

Your vote is important. Whether or not you plan to attend the 2026 annual meeting of shareholders (the “annual meeting”) via live webcast, we urge you to vote promptly to save us the expense of additional solicitation. Please carefully review the proxy materials and follow the instructions below to cast your vote on all of the proposals.

VOTING METHODS IN ADVANCE OF ANNUAL MEETING

Make sure to have your Notice of Internet Availability of Proxy Materials, proxy card or voting instruction card and follow the instructions. If you are a record holder, you may vote using one of the following methods. If you are a beneficial owner, you may vote using one of the methods listed on your voting instruction card.

OnlineBy PhoneBy Mail
www.proxyvote.com1-800-690-6903Request a printed copy of the proxy materials and complete, sign and return your proxy card
12026 PROXY STATEMENT
ContentsView on SEC.gov

The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.