PARK OHIO HOLDINGS CORP
For the period ended May 15, 2025. Filed Apr 8, 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 15, 2025 · Filed Apr 8, 2025
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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
**SCHEDULE 14A
**(Rule 14a-101)
**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 Pursuant to § 240.14a-12
PARK-OHIO HOLDINGS CORP.
(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.
PARK-OHIO HOLDINGS CORP.
**6065 Parkland Boulevard
Cleveland,**Ohio 44124
Notice of 2025 Annual Meeting of Shareholders
The 2025 annual meeting of shareholders of Park-Ohio Holdings Corp., an Ohio corporation, will be held asshown below.
10:00 A.M., Eastern Time, Thursday May 15, 2025
6065 Parkland Boulevard,Cleveland, Ohio 44124
1.To elect three directors to serve until the 2028 annual meeting of shareholders; 2. To approve the Amendment and Restatement of the Park-Ohio Holdings Corp. 2021 Equity and Incentive Compensation Plan, the terms of which are described in the accompanying Proxy Statement; 3.To ratify the appointment of Ernst & Young LLP as our independent auditors for fiscal year 2025; and 4.To act on other matters that are properly brought before the Annual Meeting or any adjournments, postponements or continuations thereof.
The Board of Directors set March 21, 2025 as the record date for the Annual Meeting. This means that owners of Common Stock at the close of business on that date are entitled to (1) receive notice of the Annual Meeting and (2) vote at the Annual Meeting and any adjournments, postponements or continuations of the Annual Meeting.
We are pleased to invite you to our 2025 Annual Meeting of Shareholders to be held at the Company’s headquarters, 6065 Parkland Blvd., Cleveland, Ohio 44124, on May 15, 2025, at 10:00 A.M. EST. Please also consider voting and submitting your proxy in advance of the Annual Meeting in lieu of attending the meeting in person. Please mark, sign and return the proxy card in the enclosed envelope. No postage is required if mailed in the United States.
| By Order of the Board of Directors | |
| | |
| ROBERT D. VILSACKChief Legal & Administrative Officer, Secretary | |
| April 8, 2025 | |
|---|
IMPORTANT NOTICE REGARDING THE AVAILABILITY OF PROXY MATERIALS FORTHE ANNUAL MEETING OF SHAREHOLDERS TO BE HELD ON MAY 15, 2025:A complete set of proxy materials relating to the Annual Meeting is available on the Internetstarting on April 8, 2025. These materials, consisting of the Notice of Annual Meeting, ProxyStatement, Proxy Card and Annual Report, may be viewed at http://eproxy.pkoh.com.
Where
When
Items of
Business
Who Can
Vote and
Record Date
Voting
by Proxy
| 2025 Proxy Statement | i |
Proxy Statement
TABLE OF CONTENTS
| General Information | 1 |
|---|---|
| Proposal No. 1 — Election of Directors | 2 |
| Biographical Information | 3 |
| Nominees for Election | 3 |
| Directors with Term Expiring 2026 | 4 |
| Directors with Term Expiring 2027 | 5 |
| Principal Shareholders | 6 |
| Delinquent Section 16(a) Reports | 7 |
| Corporate Governance | 8 |
| Director Independence | 8 |
| Risk Oversight | 8 |
| Leadership Structure | 8 |
| Lead Director | 9 |
| Code of Business Conduct and Ethics | 9 |
| Insider Trading Policy | 9 |
| Anti-Hedging and Pledging Policies | 9 |
| Board of Directors and Committees | 10 |
| Board Meetings | 10 |
| Board Committees | 10 |
| Audit Committee | 10 |
| Compensation Committee | 10 |
| Nominating and Corporate Governance Committee | 10 |
| Executive Committee | 11 |
| Long-Range Planning Committee | 11 |
| Shareholder Communications | 11 |
| Compensation Committee Interlocks and Insider Participation | 11 |
| Compensation of Directors | 12 |
| Audit Committee | 13 |
| Audit Committee Report | 13 |
| Proposal No. 2 — Approval of the Amendment and Restatement of the Park-Ohio Holdings Corp. 2021 Equity and Incentive Compensation Plan | 14 |
| Overview | 14 |
| Tax Consequences to the Company and its Subsidiaries | 23 |
| Awards Granted to Certain Persons | 23 |
| Registration with the SEC | 24 |
| Equity Compensation Plan Information | 24 |
| Proposal No. 3 — Ratification of the Appointment of Independent Auditors | 25 |
| Independent Auditor Fee Information | 25 |
| Pre-approval Policy | 25 |
| 2025 Proxy Statement | ii |
** Table of Contents**
| Executive Compensation Discussion and Analysis | 26 |
|---|---|
| 2024 Business Highlights | 26 |
| Philosophy and Objectives | 26 |
| Compensation Practices | 27 |
| Overview | 27 |
| Our Say-on-Pay Vote | 27 |
| Shareholder Engagement | 27 |
| Compensation Consultant | 27 |
| Compensation Components | 28 |
| Other Executive Compensation Arrangements and Policies | 31 |
| Risk Oversight | 33 |
| Compensation Committee Report | 33 |
| Compensation Tables | 34 |
| 2024 Summary Compensation Table | 34 |
| 2024 Grants of Plan-Based Awards Table | 35 |
| Outstanding Equity Awards at 2024 Fiscal Year-End Table | 35 |
| 2024 Option Exercises and Stock Vested Table | 36 |
| Pension Benefits | 37 |
| 2024 Pension Benefits Table | 37 |
| 2024 Nonqualified Deferred Compensation Table | 37 |
| Potential Post-Employment Payments | 38 |
| CEO Pay Ratio | 39 |
| Pay Versus Performance Table | 39 |
| Other Matters | 43 |
| Review, Approval or Ratification of Transactions with Related Persons | 43 |
| Shareholder Proposals for the 2026 Annual Meeting | 43 |
| Advance Notice Procedures | 43 |
| Shareholders Sharing the Same Address | 44 |
| Appendix A | 45 |
| 2025 Proxy Statement | 1 |
PARK-OHIO HOLDINGS CORP.
**6065 Parkland Boulevard
Cleveland,**Ohio 44124
**Proxy Statement
Annual Meeting of Shareholders
May 15, 2025
GENERAL INFORMATION
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.