STANDEX INTERNATIONAL CORPDE
For the period ended Oct 22, 2024. Filed Sep 6, 2024.
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Oct 22, 2024 · Filed Sep 6, 2024
Contents
58 2024 Proxy Statement
For the FY 2023-2025 and FY 2024-2026 performance periods, the Compensation Committee changed the metric from the modified ROIC measure to a traditional ROIC measure. However, the Committee retained the 5-point average over the last fiscal year component of the measurement. The Committee changed the metric for the FY 2023-2025 performance period to simplify the calculation without detracting from the Company’s focus on improving quality of earnings. The Committee decided to continue with the change for the FY 2024-2026 performance period. Additionally, while keeping the relative TSR modifier, the Committee adjusted the modifier as follows:
| If TSR over the three-year performance period is: | Then: |
|---|---|
| At or above the 66th percentile of the comparator group | The award will be increased on a sliding scale starting from 0% up to 25% |
| At or above the 33rd and below the 66th percentile of the comparator group | No change to the award |
| Below the 33rd percentile of the comparator group | The award will be decreased on a sliding scale starting from 0% up to 25% |
The peer group selected for both of these relative TSR modifier is the S&P 600 Capital Goods Index which the Committee believes is a reasonable proxy to measuring a broad, and therefore consistent, group of companies that will experience similar market influences during the performance period. Our NEOs, therefore, are partially compensated based on how our performance compares to similar investment alternatives when considering total shareholder return performance.
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