James Hardie Industries plc
For the period ended Aug 20, 2026. Filed Jul 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.
Aug 20, 2026 · Filed Jul 1, 2026
Contents
Pay-Versus-Performance
As required by Section 953(a) of the Dodd-Frank Wall Street Reform and Consumer Protection Act, and Item 402(v) of
Regulation S-K, or Item 402(v), we are providing the following information regarding the relationship between the executive
“Compensation Actually Paid” as defined in Item 402(v) and our financial performance over the applicable time period of the
disclosure, calculated in a manner consistent with Item 402(v).
Although we are required to disclose “Compensation Actually Paid”, these amounts do not necessarily reflect compensation that
our NEOs actually earned in the fiscal years shown. Instead, “Compensation Actually Paid” reflects a calculation computed in
accordance with the pay-versus-performance rules, including adjustments of the values of unvested and vested equity awards
based on changes in our stock price and various accounting valuation assumptions. “Compensation Actually Paid” generally
fluctuates due to stock price performance.
For a more accurate description of our executive compensation program and the factors used by the People & Compensation
Committee to determine pay for our NEOs, see the “Compensation Discussion and Analysis” section of this Proxy Statement.
Accordingly, the following table sets forth the “Compensation Actually Paid” for the Company’s Principal Executive Officer
(“PEO”) and the average “Compensation Actually Paid” for non-PEO NEOs and the Company’s financial performance metrics for
fiscal years 2024, 2025 and 2026.
Pay-Versus-Performance Table
| Value of Initial Fixed $100 Investment Based On: | ||||||||
|---|---|---|---|---|---|---|---|---|
| Year | Summary Compensation Table Total for PEO ($)1 | Compensation Actually Paid to PEO ($)2 | Average Summary Compensation Table Total for OtherNEOs ($)3 | Average Compensation Actually Paid to Other NEOs ($)2 | Total Shareholder Return ($)4 | Peer Group Total Shareholder Return ($)5 | Net Income (in millions) ($) | ROCE |
| 2026 | 6,545,953 | (2,456,162) | 5,123,855 | 2,610,153 | 87 | 124 | 104.0 | 31.0% |
| 2025 | 10,932,453 | (12,500,212) | 2,353,371 | (1,290,534) | 109 | 107 | 424.0 | 43.5% |
| 2024 | 11,084,916 | 45,118,300 | 3,133,087 | 9,483,007 | 187 | 115 | 510.2 | 55.1% |
1 Represents total compensation reported for our CEO, Mr. Erter, who served as our PEO in 2024, 2025 and 2026.
2“Compensation actually paid” has been calculated in accordance with the rules outlined under Item 402(v)(2) of Regulation S-K. Details of
the adjustments made to reported Summary Compensation Table totals to determine “compensation actually paid” are summarized below in
footnote(7).
3 Reflects compensation for the following non-PEO NEOs:2026 - R. Lada, R. Wilson, J. Skelly, R. Kilcullen, F. Majeed, and S. Gadd;2025
and 2024 - R. Wilson, S. Gadd, and R. Kilcullen.
4 The peer group used for TSR comparisons reflects S&P Materials Select Index, consistent with our Form 10-K Performance Graph.
5 Reflects James Hardie’s consolidated reported net income in millions, calculated on a GAAP basis, as reported in our Annual Report on
Form 10-K filed for the fiscal year ended March 31, 2026
6 For all fiscal years, we have designated Return on Capital Employed (“ROCE”) as our “Company-Selected Measure,” reflecting our view
that it is the most important financial performance measure (not otherwise required to be disclosed in the table) linking “compensation
actually paid” to company performance, given its role in our long-term incentive program.
7 The following adjustments were made to Summary Compensation Table total compensation to determine “compensation actually paid” for
our NEOs:
| Adjustments · 2024 · 2025 · 2026 | ||||||
|---|---|---|---|---|---|---|
| PEO ($) · Non-PEO NEO Average ($) · PEO ($) · Non-PEO NEO Average ($) · PEO ($) · Non-PEO NEO Average ($) | ||||||
| Summary Compensation Table Total | $11,084,916 | $3,133,087 | $10,932,453 | $2,353,371 | $6,545,953 | $5,123,855 |
| Deduction for amount reported in “Share Awards” column of the Summary Compensation Table | $6,687,785 | $1,604,191 | $7,707,671 | $1,200,359 | $4,658,716 | $3,193,707 |
| Addition of fair value at fiscal year (“FY”) end, of equity awards granted during the FY that remained outstanding (a) | $29,116,270 | $5,520,401 | $7,237,182 | $1,127,076 | $3,861,315 | $1,809,442 |
| Addition of fair value of awards granted during the FY that vested during the FY, determined as of vesting date (a) | $0 | $0 | $0 | $0 | $0 | $449,270 |
| Addition of change in fair value at FY end versus prior FY end for awards granted in prior FY that remained outstanding (a) | $10,708,940 | $1,984,896 | $(22,796,168) | $(3,471,464) | $(8,027,048) | $(726,293) |
| Addition of change in fair value at vesting date versus prior FY end for awards granted in prior FY that vested during the FY (a) | $895,960 | $448,813 | $(166,009) | $(99,158) | $(177,666) | $40,423 |
| Reduction of fair value of awards granted during prior FY that were forfeited during the FY, determined as of prior FY end (a) | $0 | $0 | $0 | $0 | $0 | $892,837 |
| Compensation Actually Paid (b) | $45,118,300 | $9,483,007 | $(12,500,212) | $(1,290,534) | $(2,456,162) | $2,610,153 |
(a)The equity awards included above comprise performance-vested RSUs inclusive of ROCE PRSUs, TSR PRSUs, Scorecard LTI
awards which we collectively refer to as “PSUs” in this footnote; service-vested RSUs which we refer to as “RSUs” in this footnote, and
stock options, granted from 2020 through 2026. The fair values of the awards were calculated as follows: (1) the fair value of PSUs
| James Hardie 2026 Proxy Statement | 93 |
|---|
was estimated using the closing price of our common shares traded on the ASX as of the last day of the relevant measurement date,
adjusted for management’s estimate of performance as of that date, with TSR PRSUs valued using a Monte Carlo model; (2) the fair
value of RSU awards was calculated using the closing price of our common shares traded on the NYSE or ASX, as applicable, as of
the relevant measurement dates; (3) the fair value of stock option awards was calculated using a Black-Scholes model as of the
relevant measurement dates. Where amounts are converted from Australian Dollars to US Dollars, this is performed using the US
Federal Rates on the relevant measurement date.
(b)Amounts may not sum due to rounding
Relationships Between "Compensation Actually Paid" and Company Performance
As shown in the following graph, the "Compensation Actually Paid" to our CEO and our non-PEO NEOs highly correlates with
our TSR. Fluctuations in "Compensation Actually Paid" amounts are generally proportional to changes in our share price,
including as a result of changes in the fair value of unvested LTI awards, the value of each of which is directly connected to our
share price. Because a significant portion of our NEO’s total target compensation, 69% and 45% in fiscal year 2026 for our CEO
and our non-PEO NEOs, respectively, is linked to stock price performance, in line with our pay-for-performance philosophy,
"Compensation Actually Paid" for our NEOs will inherently rise and fall with TSR.
The following chart provides a graphical representation of "Compensation Actually Paid" alongside our net income over the
periods presented. “Compensation Actually Paid” also correlated with changes in net income over these periods.
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The following chart provides a graphical representation of "Compensation Actually Paid" alongside our ROCE over the periods
presented. “Compensation Actually Paid” also correlated with changes in ROCE over these periods.
Table of Financial Performance Measures
Set forth below are the most important financial performance measures that the People & Compensation Committee considers
when making executive compensation decisions, including in order to link compensation actually paid to performance and to
align executive performance with shareholder interest. The measures in this table are not listed in order of importance. Return on
Capital Employed and Relative TSR were used by the People & Compensation Committee with respect to PRSUs prior to fiscal
year 2027 and therefore continue to impact executive compensation. Adjusted EBITDA, Relative TSR and Adjusted ROIC will be
used in connection with PRSUs for fiscal year 2027. For a discussion of how the People & Compensation Committee applies the
below measures, see the Compensation Discussion and Analysis beginning on page 52.
Most Important Financial Performance Measures
Net Sales
Adjusted EBITDA
Return on Capital Employed
Adjusted Return on Invested Capital
Relative TSR
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