03/11/2026 | Press release | Distributed by Public on 03/11/2026 07:17
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Preliminary Proxy Statement
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Confidential, for Use of the Commission Only (as permitted by Rule 14a-6(e)(2))
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Definitive Proxy Statement
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Definitive Additional Materials
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Soliciting Material under Section 240.14a-12
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SENSIENT TECHNOLOGIES CORPORATION
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(Name of Registrant as Specified In Its Charter)
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(Name of Person(s) Filing Proxy Statement, if other than the Registrant)
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No fee required
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Fee paid previously with preliminary materials
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Fee computed on table in exhibit required by Item 25(b) per Exchange Act Rules 14a-6(i)(1) and 0-11
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1.
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To elect nine directors nominated by the Board of Directors of the Company as described in the proxy statement;
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To give an advisory vote to approve the compensation of the Company's named executive officers, as disclosed pursuant to Item 402 of Regulation S-K, including the Compensation Discussion and Analysis, compensation tables, and narrative discussion in the proxy statement;
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To ratify the appointment of Ernst & Young LLP, certified public accountants, as the independent auditors of the Company for 2026; and
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On Behalf of the Board of Directors,
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John J. Manning, Secretary
Milwaukee, Wisconsin
March 11, 2026
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FOR the election of the Board's nine nominees for director;
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FOR approval of the compensation of our named executive officers, as disclosed herein pursuant to Item 402 of Regulation S-K, including the Compensation Discussion and Analysis, compensation tables, and narrative discussion in this proxy statement;
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FOR ratification of the Board's appointment of Ernst & Young LLP as the Company's independent auditors for 2026; and
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On such other matters that may properly come before the Meeting in accordance with the best judgment of the individual proxies named in the proxy.
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ITEM 1.
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ELECTION OF DIRECTORS
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substantial recent business experience at the senior management level, preferably as chief executive officer;
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a recent leadership position in the administration of a major college or university;
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recent specialized expertise at the doctoral level in a science or discipline important to the Company's business;
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recent prior senior level governmental or military service;
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financial expertise; or
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risk assessment, risk management, or employee benefit skills or experience.
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Skills and Expertise
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Bruggeman
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Carleone
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Ferruzzi
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Jackson
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Jain
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Landry
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Manning
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Morrison
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Whitelaw
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CEO or senior officer of business, university, governmental, or military organization
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International experience
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Human capital management experience
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Compensation program experience or expertise
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Risk assessment or risk management experience or expertise
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Financial literacy
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Chemistry or food science experience or expertise
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Sustainability experience or expertise
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Corporate governance experience
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Age/Tenure/Sex/Veteran
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Age
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59
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80
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51
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53
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66
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71
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51
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63
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77
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Board Tenure
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2
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12
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11
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7
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5
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11
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14
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10
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33
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Sex
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M
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F
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M
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Veteran
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Race/Ethnicity/Nationality
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African American/Black
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Asian/South Asian
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White/Caucasian
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Hispanic/Latino
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Native American
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Born Outside of the U.S.
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Brett W. Bruggeman
Age 59
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Director Since 2024
Nominating & Corporate Governance Committee
Scientific Advisory Committee
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Professional Experience:
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Executive Vice President and Chief Operating Officer at Land O'Lakes, Inc. (2023-present)
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President (2018-present) and Senior Vice President, Marketing (2015-2018) at WinField United
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Vice President, Crop Protection & Seed at United Suppliers (2007-2015)
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Director, North Latin America, Mexico and Central America (2005-2007) and Director, Sales Marketing, North America (2003-2005) at FMC Corporation
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Manager, Strategic Accounts, North America (2001-2003), Manager, Portfolio Strategy, Soybean & Corn (2000-2001), Various Product Management Roles, Soybean (1999-2000), and Various Sales Roles (1992-1999) at BASF Corporation
Other Recent Public Company Directorships:
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None
Other Experience:
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Iowa State University, B.S. in Agricultural Studies
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Director, Croplife America Inc. (2018-present)
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Director, GreenPoint AG, LLC (2018-present)
Qualifications:
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Transnational business experience with extensive agricultural background, including with food companies and sustainability; and
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Broad experience in business roles including management, sales, marketing, operations, acquisitions, and business development.
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Dr. Joseph Carleone
Age 80
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Director Since 2014
Lead Director
Audit Committee
Compensation and Development Committee (Chairman)
Executive Committee
Scientific Advisory Committee
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Professional Experience:
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Senior Advisor (2018-present) of OES Europe, an independent advisory network specializing in strategic cross-border mergers & acquisitions and in management buy-outs.
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Non-executive Chairman, Avid Bioservices, Inc. (2017-2025), a biopharmaceutical manufacturing company focused on mammalian cell technology to support the pharmaceutical industry
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Chairman of the Board (2015-2018) of AMPAC Fine Chemicals LLC, a leading manufacturer of pharmaceutical active ingredients
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President and Chief Executive Officer (2010-2015), President and Chief Operating Officer (2006-2009), and Chairman of the Board (2013-2014) of American Pacific Corporation, a leading custom manufacturer of fine and specialty chemicals and propulsion products
Other Recent Public Company Directorships:
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American Pacific Corporation (2006-2015)
Education:
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Drexel University, B.S., Mechanical Engineering
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Drexel University, M.S., Applied Mechanics
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Drexel University, Ph.D., Applied Mechanics
Qualifications:
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Operational, governance, management, and scientific experience, including as Chief Executive Officer and as Chairman of a public corporation with international operations in the fine and specialty chemical industries.
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Dr. Mario Ferruzzi
Age 51
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Director Since 2015
Compensation and Development Committee
Nominating and Corporate Governance Committee
Scientific Advisory Committee (Chairman)
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Professional Experience:
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Dean of the College of Agriculture and Life Sciences at Virginia Tech (2024-present)
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Director of the Arkansas Children's Nutrition Center and Professor and Chief, Section of Developmental Nutrition in the Department of Pediatrics at the University of Arkansas for Medical Sciences (2021-2024)
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Endowed Chair in Digestive Disease & Nutrition Research at Arkansas Children's Research Institute (2022-2024)
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David H. Murdock Distinguished Professor (2019-2021), and Professor of Food Science and Nutrition (2016-2019) in the Plants for Human Health Institute and the Department of Food, Bioprocessing and Nutrition Science at North Carolina State University
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Professor in the Department of Food Science at Purdue University (2004-2016)
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Research Scientist positions in the Coffee and Tea Beverage Development group at Nestlé Research & Development Center, Marysville, Ohio, and the Nutrition & Health and Scientific & Nutritional Support Departments at the Nestlé Research Centre in Lausanne, Switzerland (2001-2004)
Other Recent Public Company Directorships:
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None
Other Experience:
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Duke University, B.S. in Chemistry
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The Ohio State University, M.S. and Ph.D. in Food Science and Nutrition
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Expertise in analytical chemistry and its applications to food and nutrition research and product development
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Research consistently funded by federal agencies including the U.S. Department of Agriculture, the National Institutes of Health, and the United States Agency for International Development, as well as the food industry
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Over 230 publications as well as extensive experience with national and international collaborations, research, and product development
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Recipient of numerous research awards from the Institute of Food Technologists (IFT) (2010 Samuel Cate Prescott Young Investigator Award), the American Society for Nutrition (ASN) (2011 Mary Rose Swartz Young Investigator Award), Purdue University (2012 Agricultural Research Award), the General Mills Bell Institute of Health and Nutrition (2018 Innovation Award), and IFT/ASN (2019 Gilbert A. Leveille Award and Lectureship)
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Member of the Board of Trustees for the International Food Information Council and Institute for Advancement of Food & Nutrition Science
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Professional member of IFT, ASN, and the American Chemical Society (ACS)
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Fellow of the Royal Society of Chemistry
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Serves on the editorial boards of Nutrition Research, Nutrition Today, and was Associate Editor for the Royal Society of Chemistry's journal, Food & Function and Critical Reviews in Food Science and Nutrition
Qualifications:
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Expert in analytical chemistry and its application to food and nutrition;
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Extensive industry and academic experience, including extensive experience with new product development and product commercialization; and
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Extensive international research collaborations and experience in Europe, Asia, Africa, and Latin America.
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Carol R. Jackson
Age 53
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Director Since 2019
Audit Committee
Nominating and Corporate Governance Committee
Scientific Advisory Committee
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Professional Experience:
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Chief Executive Officer of Astro Shapes LLC (2025-present)
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Chairman, President, and Chief Executive Officer (2017-2023) and Corporate Officer, Senior Vice President, and General Manager (2014-2017) of HarbisonWalker International
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Corporate Officer, Vice President (GM), Carpenter Technology Corporation (2011-2013); Managing Director, Global Raw Materials Purchasing (2009-2011), General Manager Global Powder Coatings (2007-2009), Commercial Segment Manager Architectural Coatings (2005-2006), Global Sales Account Manager Automotive OEM Glass (2002-2005), Global Sales Account Manager Consumer Electronics Coatings (2001-2002), Market Development Manager (1999-2001) at PPG Industries
Other Recent Public Company Directorships:
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AZZ Inc. (2021-present), a global provider of metal coating solutions, welding solutions, specialty electrical equipment, and highly engineered services
Other Experience:
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Duquesne University, B.S. in Business Administration
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University of Pittsburgh, Juris Doctorate
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Carnegie Mellon University, M.S. in Industrial Administration (M.B.A.)
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Yale School of Management Executive Education Program
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Certified Transformative Mediator
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Director and Member of Governance Committee (2014-2023), Junior Achievement of Western Pennsylvania
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Licensed attorney (1999-present) Pennsylvania
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Business Process Improvement Green Belt
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Women's Leadership Council and Impact Fund Committee, United Way
Qualifications:
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Extensive management experience in private and public enterprises, including public corporations with extensive manufacturing, international operations, and chemical businesses, and leadership experience as a Chief Executive Officer; and
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Experience in business roles including management, sales, marketing, procurement, acquisitions, and business development.
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Sharad P. Jain
Age 66
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Director Since 2021
Audit Committee
Scientific Advisory Committee
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Professional Experience:
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More than 33 years practicing as a certified public accountant with PricewaterhouseCoopers (retired in 2020) providing audit and advisory services to global companies engaged in consumer and industrial products businesses
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Served as the Global and U.S. Automotive Assurance Sector Leader (2012-2015) and senior partner in the Governance Insights Center (2018-2020) with PricewaterhouseCoopers
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Significant global experience including mature and emerging markets
Other Recent Public Company Directorships:
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None
Other Experience:
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Certified Public Accountant (1987); Elijah Watt SellsAward recipient
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Chartered Institute of Taxation, United Kingdom (1984)
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Fellow of The Institute of Chartered Accountants in England and Wales (1983)
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Hull College of Higher Education, United Kingdom (1979)
Qualifications:
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Accounting and auditing experience and expertise, including extensive experience auditing global companies as a certified public accountant;
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Business experience, both at a senior leadership level and as an advisor to companies in a variety of consumer and industrial products businesses;
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Regulatory compliance and human capital management experience;
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NACD Directorship Certified®; and
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Carnegie Mellon University CERT Certificate in Cybersecurity Oversight.
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Dr. Donald W. Landry
Age 71
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Director Since 2015
Compensation and Development Committee Nominating and Corporate Governance Committee (Chairman)
Scientific Advisory Committee
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Professional Experience:
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Interim President, University of Florida (2025-present)
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Member of the faculty of Columbia University (1985-2025) (on extended leave)
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Professor of Medicine at Columbia University's College of Physicians and Surgeons (2004-2025)
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Founding Director, Center for Human Longevity at Columbia University (2023-2025)
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Chair of the Department of Medicine at Columbia University and Physician-in-Chief at NewYork-Presbyterian/Columbia University Medical Center (2008-2023)
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Director of the Division of Experimental Therapeutics at Columbia Medical Center (1998-2021)
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Founding director of Tonix Pharmaceuticals, Inc., a wholly-owned subsidiary of Tonix Pharmaceuticals Holding Corp. (2007-2011)
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Co-founder of Vela Pharmaceuticals, a private company that developed drugs for central nervous system disorders
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Co-founder of Tegrigen Therapeutics, LLC, a private company that developed novel therapeutics for inflammation, fibrosis, thrombosis, autoimmunity, and cancer based on pure orthosteric antagonists to specific integrins.
Other Recent Public Company Directorships:
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Tonix Pharmaceuticals Holding Corp. (2011-2019), a pharmaceutical company that develops next-generation medicines for common disorders of the central nervous system, including fibromyalgia, post-traumatic stress disorder, and episodic tension-type headache
Other Experience:
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Lafayette College, B.S. in chemistry (1975)
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Harvard University, Ph.D. in organic chemistry (1979)
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Columbia University's College of Physicians and Surgeons, M.D. (1983)
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Developed the first artificial enzyme to degrade cocaine and his report in Science was voted one of top 25 papers in the world for 1993 by the American Chemical Society
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Discovered that vasopressin can be used to treat vasodilatory shock, which fundamentally changed intensive care practice for this condition
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Pioneered an embryo-sparing approach to the generation of human embryonic stem cells
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Served as a member of the President's Council on Bioethics during the George W. Bush administration
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Awarded the Presidential Citizens Medal, the nation's second-highest civilian award (2008)
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Elected to the National Academy of Inventors (2016)
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National Institutes of Health (NIH) Physician-Scientist, Columbia University (1985-1990)
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Published 125 peer-reviewed articles, authored 37 review articles or book chapters, and awarded 51 patents as inventor or co-inventor
Qualifications:
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Expert in the medical and pharmaceutical fields and has unique experiences in the formation, operation, and public registration of a start-up pharmaceutical company; and
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Experience as director of a public corporation; experience in commercialization of new products and in research and development; strong technical acumen in chemistry, medicine, and the pharmaceutical industry and other fields related to our business; and academic background.
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Paul Manning
Age 51
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Director Since 2012
Executive Committee (Chairman)
Scientific Advisory Committee
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Professional Experience:
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Chairman, President, and Chief Executive Officer of Sensient Technologies Corporation (2016-present)
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Formerly President and Chief Executive Officer (2014-2016), President and Chief Operating Officer (2012-2014), President, Color Group (2010-2012), and General Manager, Food Colors North America (2009-2010) of Sensient Technologies Corporation
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Mergers and Acquisitions Integration Manager of the Fluke Division of Danaher Corporation
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Various supply chain and project manager positions with McMaster-Carr Supply Company
Other Recent Public Company Directorships:
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None
Other Experience:
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Stanford University, B.S. in Chemistry
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Northwestern University, M.B.A.
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Attended Stanford University on a Naval ROTC scholarship
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Served in the U.S. Navy as a Surface Warfare Officer for four years
Qualifications:
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Responsible for articulating and executing the Company's strategy, upgrading of sales force and general manager talent, and leading the Board of Directors;
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Extraordinarily detailed knowledge of the Company's operations enables him to keep the Board well informed regarding the Company's performance and opportunities;
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Strong background in chemistry allows him to direct product and technology research and development efforts; and
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Prior experience in mergers and acquisitions and supply chain management.
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Scott C. Morrison
Age 63
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Director Since 2016
Audit Committee (Chairman)
Compensation and Development Committee
Executive Committee
Scientific Advisory Committee
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Professional Experience:
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Former Senior Advisor of Ball Corporation, a leading global supplier of innovative, sustainable packaging solutions for beverage, food, and household products customers (2023-2024)
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Executive Vice President and Chief Financial Officer of Ball Corporation (2021-2023)
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Senior Vice President and Chief Financial Officer of Ball Corporation (2010-2021)
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Vice President and Treasurer of Ball Corporation (2000-2010)
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Various senior corporate banking roles at Bank One, First Chicago, and NBD Bank, Detroit
Other Recent Public Company Directorships:
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CACI International Inc (2024-present), a leading provider of expertise and technology to government customers
Other Experience:
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Indiana University, B.S. in Finance (1984)
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Wayne State University, M.B.A. (1988)
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Executive Committee Member of the Board for the National Association of Manufacturers
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Past Community Chairman of the Denver Chapter of the Kelley School of Business Indiana University
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Served as Chairman of the National Association of Corporate Treasurers
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Expert testimony witness to the U.S. House of Representatives Agricultural Committee on Dodd-Frank legislation
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Recognized as CFO of the Year by CFO Magazine and Institutional Investor
Qualifications:
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Possesses a wealth of valuable leadership experience and financial expertise, gained through previously serving as Chief Financial Officer of a publicly traded multinational corporation and having served in various other executive management and senior corporate banking roles;
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Significant experience in mergers and acquisitions and post-merger integration, including Ball Corporation's $6.1 billion acquisition and integration of Rexam PLC, a metal beverage packaging manufacturer; and
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Experience, expertise, and background in capital allocation, financial reporting, international, and compliance matters.
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Essie Whitelaw
Age 77
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Director Since 1993
Executive Committee
Scientific Advisory Committee
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Professional Experience:
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Senior Vice President of Operations, Wisconsin Physician Services, a provider of health insurance and benefit plan administration (2001-2010)
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Served over 15 years in various executive positions, including as President and Chief Operating Officer (1992-1997) and Vice President of National Business Development, at Blue Cross Blue Shield of Wisconsin, a comprehensive health and dental insurer
Other Recent Public Company Directorships:
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None
Other Experience:
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Served on the board and on the audit, nominating, and retirement plan investment committees of WICOR Corporation, a Wisconsin energy utility, prior to its merger into another public utility in 2000
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Director (2016-current) of Network Health, a Wisconsin based private health insurer
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Current nonprofit board service to the Kingdom Prep Lutheran School and the Wisconsin Women's Health Foundation, a non-profit organization dedicated to improving the health and lives of women and their families through education, outreach programs, and partnerships
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Prior nonprofit board service to the Milwaukee Public Museum, Goodwill Industries, United Way of Greater Milwaukee, Blue Cross Blue Shield Foundation, Metropolitan Milwaukee Association of Commerce, Greater Milwaukee Committee, and Bradley Center Sports and Entertainment Corp.
Qualifications:
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Significant regulatory compliance and human resources experience, including developing and implementing compensation policies and designing incentive programs for sales and customer service employees to achieve business objectives while managing risk; and
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Over thirty years of service on the Company's Board provides exceptionally deep insights into the Company, its history, and operations.
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Corporate Code of Conduct (available in all languages used within the Company), which includes:
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Antitrust Compliance Manual
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Anti-Bribery Policy
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Company Confidential Information Policy
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Conflict of Interest Policy
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Cybersecurity Principles
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Director Confidentiality Policy
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Insider Trading Policy
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Records Retention Policy
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Supplier Code of Conduct
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Securities Compliance Manual
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Cybersecurity Policy, including an Artificial Intelligence Usage Policy
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Global Privacy Policy
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Sustainability Report and Strategy
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Sanctions Compliance Policies
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Food Safety/Recall Manual
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Physical Security Policy, including Travel Security Policy
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The Board receives a report on food and personnel safety related issues at each meeting.
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All product safety issues are reported to the CEO, and the Company's head of product safety and quality is a direct report of the CEO. The Company has a written policy that sets forth specific reportable events and a timeline for required Board notification when a product safety issue occurs.
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The Company has established guidelines for Good Manufacturing Practices (GMP) and Hazard Analysis and Critical Control Points (HACCP), and, since 1999, conducts comprehensive product safety audits, including GMP/HACCP audits, at all of its food ingredient manufacturing facilities.
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Comprehensive and robust raw material approval processes are in place to ensure product safety.
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Raw materials and finished goods are analyzed for compliance with specifications prior to use and shipment, respectively.
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The Company conducts key vendor quality assurance inspections directly or by third-party accredited auditing organizations.
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The Company develops and implements corrective action plans for all internal, customer, and third-party audit deficiencies.
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The Company monitors industry violations and shares details of such violations with its customers.
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The Company seeks to benefit from the full spectrum of human talent, hiring the best talent and reflecting the needs of our customers and the communities in which we operate. To this end, the Company has a dedicated, internal Talent Acquisition team, which sources talent from a broad range of backgrounds and utilizes emerging technology, guided by a deep understanding of the Company's business objectives and core values of integrity, professionalism, and safety.
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The Company closely monitors and demands excellence in its on-boarding process, to ensure all new hires have the tools, training, Company knowledge, and management support necessary to succeed in the organization from day one.
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The Company maintains and reviews annually its compensation and benefit programs, to ensure that it is providing market-competitive offerings designed to reward high performers, retain talent, and support the needs of its workforce.
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The Company conducts succession planning organization-wide on an annual basis to evaluate the pipeline for leadership roles and implement development plans for key talent.
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The Company utilizes internal development programs such as the Sales Representative Trainee Program and the Flavorist Trainee Program to provide a robust internal pipeline of talent for high impact roles in the organization.
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The Company facilitates the development and progression of its workforce through the annual goal setting and performance evaluation processes, individual development plans, leadership training, and ongoing individualized coaching and development.
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The Company regularly communicates and rigorously enforces its non-negotiable expectations of integrity, professionalism, and safety, which encompass an unwavering commitment to equal opportunity and non-discrimination, and which underpin the Company's strategy to draw from the broadest set of talent possible.
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Under the Company's Code of Conduct, a Company lawyer (or designated outside counsel outside the U.S.) must review and approve allemployee terminations to ensure they are warranted and compliant with all applicable laws.
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The Board of Directors reviews the Company's Human Capital Management program on an annual basis.
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The Board has defined high-risk cybersecurity areas for the Company and implemented comprehensive programs to address these risks.
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Management reports at least twice annually to the Board of Directors on cybersecurity progress and effectiveness.
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The Artificial Intelligence (AI) Usage Policy, which provides for a governance council led by the Chief Information Officer (CIO) and General Counsel to ensure the Company continually evaluates potentially useful closed AI programs while protecting the Company's intellectual property and proprietary financial and personnel information. The CIO updates the Board on the Company's use of AI as required.
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The Company has formed an executive level steering committee (including the CEO, CFO, Group Presidents, General Counsel, VP, Human Resources, Controller/Chief Accounting Officer, and CIO) that provides oversight and routinely discusses cybersecurity matters.
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The Company has implemented an annual employee training program, regular cyber executive incident response simulations, and regular cyber and physical penetration testing.
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The Company has made significant investments in its technical capabilities in all areas of security.
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Chemical Risk Reduction Strategy, led by the CEO, Director Dr. Ferruzzi, and SAC member Dr. Eric Decker, which includes improved product warnings and enhanced safety protocols, as well as forward looking risk identification and product elimination;
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A corporate physical security program led by a retired Secret Service Agent, who reports to the General Counsel. Both of these individuals are members of the FBI's Domestic Security Alliance Council, which is a partnership between the FBI and private sector organizations to facilitate information sharing, resources, and networking. The Company's physical security program includes an internal governance council led by the General Counsel; a crisis response team led by the CEO; workplace violence and active assailant prevention and training programs; and a travel security program, which includes the utilization of executive security teams as required.
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A robust EHS program that is managed within the Legal Department;
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A strong Regulatory Affairs department overseen by a Vice President who reports to the General Counsel;
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EHS audits at every manufacturing facility by an outside consulting firm;
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In-house securities attorney;
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In-house compliance attorney who is continually engaged with the business units on FDA, EPA, and OSHA regulatory matters; and
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Legal Department review of all contracts.
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has sole responsibility to appoint, terminate, compensate, and oversee the independent auditors of the Company and to approve any audit and permitted non-audit work by the independent auditors;
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reviews the adequacy and appropriateness of the Company's internal control structure and recommends improvements thereto, including management's assessment of internal controls and the internal audit function and risk management activities generally;
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reviews with the independent auditors their reports on the consolidated financial statements of the Company and the adequacy of the financial reporting process, including the selection of accounting policies;
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reviews and approves the Company's existing insurance programs, foreign currency management, and the stock repurchase program;
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reviews and discusses with management the Company's practices regarding earnings press releases and the provision of financial information and earnings guidance to analysts and ratings agencies;
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reviews and discusses with the Chief Executive Officer and Chief Financial Officer the procedures undertaken in connection with the Chief Executive Officer and Chief Financial Officer certifications for Forms 10-K and 10-Q and other reports including their evaluation of the Company's disclosure controls and procedures and internal controls;
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obtains and reviews an annual report of the independent auditors covering the independent auditors' independence, quality control, and any inquiry or investigation of the independent auditors by governmental or professional authorities within the past five years;
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sets hiring policies for employees or former employees of the independent auditors;
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establishes procedures for the receipt of complaints about accounting, internal accounting controls, auditing, and other compliance matters;
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reviews and approves the overall hedging strategy of the Company and the Company's use of swaps and other derivative instruments;
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reviews and oversees management's risk assessment and risk management policies and guidelines generally, including those related to financial reporting and regulatory compliance;
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reviews and discusses with management the Company's material litigation matters;
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reviews and approves the Company's annual capital budget, long-term financing plans, borrowings, notes and credit facilities, investments, and commercial and investment banking relationships; and
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reviews the adequacy and appropriateness of the various policies of the Company dealing with the principles governing performance of corporate activities. These policies, which are set forth in the Company's Code of Conduct, include securities law and antitrust compliance, conflicts of interest, anti-bribery, and business ethics.
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to review and approve all compensation plans and programs (philosophy and guidelines) of the Company. In consultation with senior management and taking into consideration recent shareholder advisory votes and any other shareholder communications regarding executive compensation, the Committee oversees the development and implementation of the Company's compensation program, including base salary, short- and long-term incentive compensation (including the relationships between incentive compensation and risk-taking), and nonqualified benefit plans and programs, including fringe benefit programs;
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to review and discuss with management the policies and practices of the Company and its subsidiaries for compensating their employees, including non-executive officers and employees, to ensure those policies do not encourage unnecessary or excessive risk-taking and that any risks are subject to appropriate controls;
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to review and make recommendations to the Board with respect to all compensation arrangements and changes in the compensation of the officers appointed by the Board, including, without limitation: (i) base salary; (ii) short- and long-term incentive compensation plans and equity-based plans (including overseeing the administration of these plans and discharging any responsibilities imposed on the Committee by any of these plans); (iii) employment agreements, severance arrangements, and change of control agreements/provisions, in each case as, when, and if appropriate; and (iv) any special or supplemental benefits;
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to review and approve the financial management and administrative operation of the Company's qualified and nonqualified benefit plans; and
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at least annually, to review and approve corporate goals and objectives relevant to compensation of the Chief Executive Officer, evaluate the performance of the Chief Executive Officer in light of those goals and objectives, report the results of the evaluation to the Board, oversee and review (at least annually) the Chief Executive Officer succession plan, and set the Chief Executive Officer's compensation level based on this evaluation.
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studies and makes recommendations concerning the composition of the Board and its committee structure, including the Company's Director Selection Criteria, and reviews the compensation of Board and Committee members;
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recommends persons to be nominated by the Board for election as directors of the Company and to serve as proxies at the Annual Meeting of Shareholders;
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engages with shareholders regarding potential nominees and other governance issues;
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considers any nominees recommended by shareholders;
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assists the Board in its determination of the independence of each director;
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develops corporate governance guidelines for the Company and reassesses these guidelines annually;
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oversees and evaluates the system of corporate governance and responsibility program; and
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oversees the Company's sustainability efforts and reviews and approves the Company's Sustainability Strategy and annual Sustainability Report.
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reviews the Company's research and development programs with respect to the quality and scope of work undertaken;
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advises the Company on maintaining product leadership through technological innovation;
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reports on new technological trends and regulatory developments that would significantly affect the Company and suggests possible new emphases with respect to its research programs and new business opportunities; and
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works directly with management on key innovation and product safety related projects.
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Reduce consumption of non-renewable energy and reduce emissions of greenhouse gases.
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Improve water efficiencies and decrease water consumption, prioritizing sites in high-stress areas.
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Reduce waste and apply the principles of a circular economy.
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Build a sustainable supply chain that fully integrates ethical and environmentally responsible practices.
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Design products that generate less carbon, use less water, produce less waste, and consist only of ethically sourced materials.
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presides at all meetings of the Board at which the Chairman is not present, including executive sessions of the independent and non-management directors;
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serves as the principal liaison between the Chairman and the independent directors;
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reviews in advance all information sent to the Board, including the quality, quantity, appropriateness, and timeliness of such information;
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approves meeting agendas for the Board;
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approves the frequency of Board meetings and meeting schedules, assuring there is sufficient time for discussion of all agenda items; and
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obtains advice and counsel from the General Counsel, to the extent requested by the Lead Director and where appropriate, related to fulfilling the Lead Director's duties.
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Name
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Fees Earned
or Paid in
Cash
($)(1)
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Stock
Awards
($)(2)(3)(4)
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Change in
Pension Value
and Nonqualified
Deferred
Compensation
Earnings
($)
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All Other
Compensation
($)(5)
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Total
($)
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B. Bruggeman
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$99,100
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$111,074
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$-
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$-
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$210,174
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Dr. J. Carleone
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146,100
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111,074
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-
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70,000
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327,174
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Dr. M. Ferruzzi
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108,600
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111,074
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-
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-
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219,674
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C. R. Jackson
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108,100
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111,074
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-
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-
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219,174
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S. P. Jain
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109,600
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111,074
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-
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60,000
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280,674
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Dr. D. W. Landry
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108,600
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111,074
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-
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-
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219,674
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D. McKeithan-Gebhardt
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109,100
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111,074
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-
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7,500
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227,674
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S. C. Morrison
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125,100
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111,074
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-
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-
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236,174
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E. Whitelaw
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98,100
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111,074
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-
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-
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209,174
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(1)
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Includes annual board member, committee member, committee chair, and lead director retainers.
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(2)
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The amounts in the table reflect the grant date fair value of stock awards to the named director in 2025. Accounting Standards Codification ("ASC") 718 requires recognition of compensation expense over the vesting period (or until retirement age) for stock awards granted to employees and directors based on the estimated fair value of the equity awards at the time of grant. The 2025 restricted stock awards to directors were made on April 24, 2025. The grant date fair value of the 2025 restricted stock award to each director was $80.14 per share.
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(3)
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The shares of restricted stock awarded to directors vest in increments of one-third of the total grant on each of the first, second, and third annual meetings of shareholders after the date of grant.
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(4)
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Each non-employee director had the following equity awards outstanding as of the end of fiscal 2025; note, there are no outstanding Option Awards:
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Stock Awards
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Name
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Number of Shares
of Stock That
Have Not Vested (#)
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B. Bruggeman
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2,343
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Stock Awards
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Name
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Number of Shares
of Stock That
Have Not Vested (#)
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Dr. J. Carleone
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2,750
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Dr. M. Ferruzzi
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2,750
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C. R. Jackson
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2,750
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S. P. Jain
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2,750
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Dr. D. W. Landry
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2,750
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D. McKeithan-Gebhardt
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2,750
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S. C. Morrison
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2,750
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E. Whitelaw
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2,750
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(5)
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Each director and employee of the Company is eligible to participate in our matching grants program. Under this program, the Company's charitable foundation will match qualifying contributions to certain eligible educational institutions of up to $35,000 per eligible institution, and $70,000 in total per donor, in a calendar year.
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Scott C. Morrison, Chairman
Dr. Joseph Carleone
Carol Jackson
Sharad P. Jain
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Name of Beneficial Owner(1)
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Amount and Nature of
Beneficial Ownership and
Percent of Class(2)(3)(4)(5)
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Brett W. Bruggeman
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2,718
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Dr. Joseph Carleone
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45,747
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Dr. Mario Ferruzzi
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11,516
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Michael C. Geraghty
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46,348
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Carol R. Jackson
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6,070
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Sharad P. Jain
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5,854
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Amy Schmidt Jones
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25,977
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Dr. Donald W. Landry
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9,962
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John J. Manning
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36,321
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Paul Manning
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280,153
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Deborah McKeithan-Gebhardt
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22,096
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Scott C. Morrison
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11,057
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Tobin Tornehl
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16,463
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Essie Whitelaw
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18,010
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All current directors and executive officers as a group (19 persons)
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569,499
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(1)
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The address of all directors and executive officers is c/o Sensient Technologies Corporation, 777 East Wisconsin Avenue, Milwaukee, Wisconsin 53202.
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(2)
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No director or named executive officer beneficially owns 1% or more of the Company's Common Stock. The beneficial ownership of all current directors and executive officers as a group equals 1.3% of the Company's outstanding Common Stock.
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(3)
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Includes 227 shares held by Dr. Ferruzzi's wife's ESOP, acquired when she was an employee of Sensient Flavors LLC; 80 shares held by Mr. Paul Manning's children; and 49 shares held by Mr. John Manning's children.
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(4)
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Does not include the following performance stock units: Mr. Geraghty - 18,386 performance stock units; Ms. Jones - 12,251 performance stock units; Mr. John J. Manning - 14,810 performance stock units; Mr. Paul Manning - 106,450 performance stock units; Mr. Tornehl - 11,524 performance stock units; and all current executive officers as a group - 181,600 performance stock units. The vesting and performance criteria related to the performance stock units are discussed in the subsection below entitled "Equity Awards."
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(5)
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Shares owned through Sensient's Savings Plan stock fund and Sensient's ESOP are held on a unitized basis. The numbers of shares held through these plans have been estimated based on the closing stock price of $93.03 on February 13, 2026.
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Name and Address of Beneficial Owner
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Amount and Nature
of Ownership
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Percent of
Class(1)
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Winder Pte Ltd. and related persons(2)
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6,304,914 shares
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14.8%
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BlackRock, Inc.(3)
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6,243,635 shares
|
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14.7%
|
|
The Vanguard Group, Inc.(4)
|
|
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4,962,758 shares
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11.7%
|
|
|
|
|
|
|
|
|
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(1)
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All percentages are based on 42,551,316 shares of Common Stock outstanding as of February 13, 2026.
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(2)
|
Winder Pte Ltd., Winder Investment Anstalt, Winder Anstalt, Haldor Foundation, and Freemont Capital Pte. Ltd. filed an Amendment No. 6 to Schedule 13G dated February 14, 2025. The address for Winder Pte Ltd. and Freemont Capital Pte. Ltd. is #19-01A 6 Battery Road, Singapore 049909, and the address for the remaining reporting persons is Zollstrasse 16, 9494 Schaan, Liechtenstein. All reporting persons other than Freemont Capital Pte. Ltd. reported that, as of December 31, 2024, they had shared power to vote 6,304,914 shares of Common Stock and dispositive power with respect to 0 shares of Common Stock. Freemont Capital Pte. Ltd. reported that, as of December 31, 2024, it had no power to vote any shares of Common Stock and sole dispositive power with respect to 6,304,914 shares of Common Stock. All reporting persons stated that none of the shares were acquired with the purpose or effect of changing or influencing the control of the issuer.
|
|
(3)
|
BlackRock, Inc. filed a Schedule 13G dated January 21, 2011, with respect to itself and certain subsidiaries. BlackRock's address is 50 Hudson Yards, New York, New York. Its Amendment No. 17 to Schedule 13G, dated April 30, 2025, reported that as of March 31, 2025, it held sole power to vote 6,197,337 shares of Common Stock and sole dispositive power with respect to 6,243,635 shares of Common Stock. It stated that all of the shares are held in the ordinary course of business and not with the purpose or effect of changing or influencing the control of the issuer.
|
|
(4)
|
The Vanguard Group, Inc. filed a Schedule 13G dated February 7, 2013, with respect to itself and certain subsidiaries. Vanguard's address is 100 Vanguard Boulevard, Malvern, Pennsylvania. Its Amendment No. 13 to Schedule 13G, dated October 30, 2025, reported that as of September 30, 2025, it had sole power to vote 0 shares of Common Stock, shared power to vote 287,143 shares of Common Stock, sole dispositive power with respect to 4,626,119 shares of Common Stock, and shared dispositive power with respect to 336,639 shares of Common Stock. It stated that all of the shares were acquired in the ordinary course of business and not with the purpose or effect of changing or influencing the control of the issuer.
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|
•
|
Paul Manning, Chairman, President, and Chief Executive Officer;
|
|
•
|
Tobin Tornehl, Vice President and Chief Financial Officer;
|
|
•
|
Michael C. Geraghty, President, Color Group;
|
|
•
|
John J. Manning, Senior Vice President, General Counsel, and Secretary; and
|
|
•
|
Amy Schmidt Jones, Vice President, Human Resources and Senior Counsel.
|
|
•
|
Overall, the Company's 2025 operating and financial performance continued to build on our strong 2024 results. Our focus on sales execution and customer service as well as our broad product portfolio have all contributed to the growth achieved in each of the Company's groups. We continue to prove to our customers that we are an innovative and reliable supplier. Our innovative product portfolio has a wide variety of natural flavors and colors and personal care products, positioning us for future growth and to capitalize on opportunities in the markets in which we operate.
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•
|
The Color Group had another outstanding year, reporting local currency revenue growth1 of 7.4% and local currency operating profit growth1 of 16.9%. The food and pharmaceutical product line drove the Group's results and experienced solid volume growth due to strong new sales wins and technically differentiated products.
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•
|
The Flavors & Extracts Group delivered modest operating income growth in 2025, despite challenges in the agricultural ingredients product line. The Group reported local currency revenue declines1 of 1.3% and local currency operating profit growth1 of 3.4% in 2025. The agricultural ingredients product line negatively impacted the Group's results with lower sales volumes, significantly higher crop costs throughout 2025, and a one-time inventory loss stemming from the impact of severe rains from atmospheric river events experienced in California late in the year that disrupted the harvest and production.
|
|
•
|
The Asia Pacific Group experienced moderate growth in 2025, reporting local currency revenue growth1 of 2.4% and local currency operating profit growth1 of 3.8%. The Group experienced some volume headwinds during the year due to tariff-induced supply chain disruptions in certain regions.
|
|
1
|
Local currency revenue and local currency operating profit are non-GAAP financial measures. See "Non-GAAP Financial Measures" under Item 7 of the Company's 2025 Annual Report for information regarding these measures and a reconciliation to the most directly comparable GAAP measures.
|
|
•
|
Between 2014-2019, 100% of our long-term equity incentive awards for officers were granted as performance stock unit awards with a three-year performance and vesting period. In 2020, the Compensation Committee decided to reduce this amount from 100% to 60%, with 40% granted in the form of restricted stock with three-year cliff vesting, in order to better align the Company's compensation with general market practice and to strengthen the retention component of our long-term incentive program. However, the largest component of compensation for our named executive officers remains performance stock unit awards with a three-year performance and vesting period.
|
|
•
|
Robust stock ownership guidelines for officers and directors.
|
|
•
|
Pro-rated vesting of performance-based equity awards to officers whose employment with the Company terminates because of death, disability, or retirement after reaching retirement age during the performance period.
|
|
•
|
If all of our nominees are elected to the Board, our on-going Board refreshment efforts will have resulted in the appointment of six new independent directors since 2015: Drs. Ferruzzi and Landry in 2015, Mr. Morrison in 2016, Ms. Jackson in 2019, Mr. Jain in 2021, Mr. Bruggeman in 2024. The current average tenure for the Board nominees is less than twelve years. The average tenure for the independent director nominees is slightly greater than eight years. We continue to welcome input from our shareholders regarding potential candidates for the Board of Directors.
|
|
•
|
We have a majority standard for the election of directors in non-contested elections combined with a director resignation policy.
|
|
•
|
We have strong independent Board leadership through a lead independent director.
|
|
|
|
|
|
|
Compensation Program Feature
|
|
|
Description
|
|
"Hold-to-retirement" policy
|
|
|
Non-employee directors are required to hold at least 75% of any additional net shares awarded to them until he or she retires from the Board.
|
|
|
|
||
|
No equity short sales, hedging, or pledging
|
|
|
Since 2010, our stock ownership guidelines for officers and non-employee directors have explicitly prohibited short sales, hedging, and pledging transactions involving our securities. In addition, we have a policy that prohibits all employees from engaging in short sales, hedging, or pledging transactions involving our securities.
|
|
|
|
||
|
Proactive engagement
|
|
|
In addition to our annual say-on-pay vote, our senior management engages directly with institutional shareholders and other key stakeholders throughout the year to gather feedback regarding our performance and executive compensation programs.
|
|
|
|
||
|
|
|
|
|
|
|
|
|
|
|
Compensation Program Feature
|
|
|
Description
|
|
Performance measures
|
|
|
Performance measures for incentive compensation are closely linked to challenging strategic and near-term operating objectives and are designed to create long-term shareholder value.
|
|
|
|
||
|
Compensation Committee member- ship and independent compensation consultant
|
|
|
Our Compensation Committee is composed entirely of independent, non- employee directors and engages an independent compensation consultant to perform an annual independent risk assessment of our executive compensation program.
|
|
|
|
||
|
Annual review and modification of executive compensation
|
|
|
Our Compensation Committee reviews and modifies executive compensation on an annual basis to achieve program objectives.
|
|
|
|
||
|
No discretionary or multi-year guaranteed bonuses
|
|
|
We have no discretionary bonuses and no multi-year guaranteed bonuses for any of our executive officers.
|
|
|
|
||
|
Proration of performance-based equity awards and annual cash incentive awards
|
|
|
We prorate performance-based equity awards and annual cash incentive awards to executives who leave the Company due to retirement, death, or disability during the applicable performance period.
|
|
|
|
||
|
No tax gross-ups
|
|
|
We do not have any tax gross-ups in any of our change of control agreements with any of our executive officers, and we do not provide any tax gross-ups on perquisites to executives after they become named executive officers.
|
|
|
|
||
|
No equity repricing or exchange
|
|
|
Our equity incentive plans prohibit repricing or exchange of underwater stock options or stock appreciation rights.
|
|
|
|
||
|
Double-Triggers
|
|
|
Our change of control agreements have a "double-trigger" such that benefits payable under such agreements are not paid unless a change in control is also accompanied by a qualifying termination of employment within 36 months.
|
|
|
|
||
|
Clawbacks
|
|
|
In 2023, pursuant to the then newly-adopted listing standards by the NYSE, we reviewed and updated our clawback policy to require the Company to recover erroneously awarded incentive-based compensation received by its executive officers in the event of an accounting restatement of the Company's financial statements due to material noncompliance with any financial reporting requirement under the securities laws.
|
|
|
|
||
|
Stock ownership guidelines
|
|
|
Our Chief Executive Officer is required to hold shares of Common Stock equal to a multiple of six times his salary; any officer who is a direct report to the CEO is required to hold shares of Common Stock equal to a multiple of two times his or her salary; and each other officer is required to hold shares of Common Stock equal to a multiple of one times his or her salary, within five years from an officer's date of election or appointment (in each such case, including restricted stock and performance stock units). Each non-employee director is required to hold shares with a value of at least five times the annual retainer for directors after five years of service on the Board (including restricted stock).
|
|
|
|
|
|
|
•
|
to support Sensient's strategic business objectives by linking a significant portion of our named executive officers' pay to key performance outcomes measured against pre-established short- and long-term performance metrics;
|
|
•
|
to align executive and shareholder interests through equity-based compensation, including performance-based stock units, and long-term stock ownership arrangements;
|
|
•
|
to attract, motivate, and retain highly qualified and talented executives and employee talent;
|
|
•
|
to encourage management practices, controls, and oversight that prioritize ethical behavior and minimize the risks present in Sensient's business; and
|
|
•
|
to incentivize management to execute on the accelerated growth strategy needed to maximize the Company's opportunities in connection with its customers' natural color conversion efforts.
|
|
•
|
achievement of strategic and financial plans, and specific financial and performance targets, without taking unnecessary or excessive risks;
|
|
•
|
each executive officer's role and his or her performance, experience, and tenure in the position and with the Company;
|
|
•
|
the total salary and other compensation for the executive officer during the prior fiscal year;
|
|
•
|
an analysis of pay at peer group companies, industry pay survey data, and market compensation practices for executive officers; and
|
|
•
|
how the executive officer may contribute to Sensient's future success.
|
|
•
|
public companies of comparable size (based primarily on fiscal year 2024 revenues ranging from approximately $522 million to $2.3 billion, with a median of $1.7 billion; market capitalizations with a median of $1.1 billion; and most recently reported operating incomes with a median of $119 million);
|
|
•
|
public companies that operate in the specialty chemicals industry or an adjacent industry;
|
|
•
|
public companies with which it competes for business, resources, and talent;
|
|
•
|
public companies with generally consistent financial performance or other business attributes (based primarily on gross, operating, and net profits; gross, operating, and net margins; full-time employees and total assets; and total shareholder return); and
|
|
•
|
the peer groups proxy advisors use to assess Sensient.
|
|
•
|
2026 base salaries;
|
|
•
|
2026 annual management incentive plan target amounts;
|
|
•
|
2025 performance stock unit awards with a three-year performance period (January 1, 2026 - December 31, 2028) (which will vest, if at all, following the end of the performance period); and
|
|
•
|
2025 restricted stock awards with a three-year vesting period (which will vest, if at all, in December 2028).
|
|
|
|
|
|
|
|
|
|
Ashland Inc.
|
|
|
Ingevity Corporation
|
|
|
Minerals Technologies Inc.
|
|
|
|
|
|
|||
|
Balchem Corporation
|
|
|
Innospec Inc.
|
|
|
Nu Skin Enterprises, Inc.
|
|
|
|
|
|
|||
|
Ecovyst Inc.
|
|
|
Koppers Holdings Inc.
|
|
|
Quaker Chemical Corporation
|
|
|
|
|
|
|||
|
Edgewell Personal Care Company
|
|
|
LSB Industries, Inc.
|
|
|
Stepan Company
|
|
|
|
|
|
|||
|
Hawkins, Inc.
|
|
|
Medifast, Inc.
|
|
|
USANA Health Sciences, Inc.
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||
|
|
|
Component
|
|
|
Type
|
|
|
Objective
|
||||
|
1.
|
|
|
Base Salary
|
|
|
Fixed
|
|
|
-
|
|
|
Attract and retain talented executives by providing base pay at market levels
|
|
|
|
|
|
|
|
|
|
|||||
|
2.
|
|
|
Annual Cash Incentive Plan Awards
|
|
|
Performance-Based
|
|
|
-
|
|
|
Drive Company and individual annual performance
|
|
|
|
|
|
|
|
-
|
|
|
Focus on growing 2025 adjusted EBITDA (70% weight) and adjusted revenue (30% weight)
|
|||
|
|
|
|
|
|
|
|
|
|||||
|
3.
|
|
|
Long-Term Equity Incentive Awards
|
|
|
60% Performance-Based and 40% Restricted Stock
|
|
|
-
|
|
|
Align executive officers' interests with those of the Company and its shareholders over a three-year vesting period
|
|
|
|
|
|
|
|
|
||||||
|
|
|
|
|
|
|
-
|
|
|
Performance-based awards focus on Company's operating performance in terms of local currency revenue growth (70% weight) and adjusted return on invested capital (30% weight) over a three-year performance period (January 1, 2026 - December 31, 2028)
|
|||
|
|
|
|
|
|
|
|
|
|||||
|
|
|
|
|
|
|
-
|
|
|
Restricted stock awards that vest, if at all, after three years
|
|||
|
|
|
|
|
|
|
|
|
|||||
|
4.
|
|
|
Retirement Benefits
|
|
|
Fixed
|
|
|
-
|
|
|
Attract and retain talented executives by providing retirement benefits to executives who have contributed to the Company's success over an extended period of time
|
|
|
|
|
|
|
|
|
|
|||||
|
5.
|
|
|
Other Benefits
|
|
|
Fixed
|
|
|
-
|
|
|
Attract and retain talented executives by providing
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||
|
|
|
Component
|
|
|
Type
|
|
|
Objective
|
||||
|
|
|
|
|
|
|
|
|
other benefits (e.g., health insurance) at market levels
|
||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
•
|
adjusted EBITDA (70% weight), and
|
|
•
|
adjusted revenue (30% weight).
|
|
•
|
adjusted operating profit (70% weight), and
|
|
•
|
adjusted revenue (30% weight).
|
|
|
|
|
|
|
|
|
|
|
|
|
Corporate
Performance Goals
|
|
|
2025 Target(1) and Percentage of
Target Award Earned
|
|
|
2025
Calculation(2)
|
|
|
Percentage
Weight of Award
Formula
|
|
Adjusted EBITDA
|
|
|
5% decrease minimum, 10%
0% increase, 25%;
8% increase target, 100%;
10% increase maximum, 200%
|
|
|
$298.0 million
(9.8% increase)
|
|
|
70%
|
|
|
|
|
|
|
|
||||
|
Adjusted Revenue
|
|
|
5% decrease minimum, 10%
0% increase, 25%;
5% increase target, 100%;
6.5% increase maximum, 200%
|
|
|
$1.6 billion
(2.9% increase)
|
|
|
30%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Color Group
Performance Goals
|
|
|
2025 Target(1) and Percentage of
Target Award Earned
|
|
|
2025
Calculation(2)
|
|
|
Percentage
Weight of Award
Formula
|
|
Adjusted Operating Profit
|
|
|
5% decrease minimum, 10%
0% increase, 25%;
9% increase target, 100%;
12% increase maximum, 200%
|
|
|
$141.3 million
(17.0% increase)
|
|
|
70%
|
|
|
|
|
|
|
|
||||
|
Adjusted Revenue
|
|
|
5% decrease minimum, 10%
0% increase, 25%;
5% increase target, 100%;
7% increase maximum, 200%
|
|
|
$699.5 million
(7.3% increase)
|
|
|
30%
|
|
|
|
|
|
|
|
|
|
|
|
|
(1)
|
A minimum, target, and maximum payment level were set for each performance goal for purposes of determining awards as shown above. 2025 performance below the minimum level would have resulted in no payment for that performance goal, while 2025 performance equal to or above the maximum level would have resulted in a payment of 200% of the target award for that performance goal. When performance fell between various payment levels, interpolation was used to calculate the payment level. Actual payments to our named executive officers earned based on 2025 performance were 186.5% of the target award amount for Mr. Geraghty and 155.1% of the target award amounts for our other named executive officers and are reflected in the Summary Compensation Table under "Non-Equity Incentive Plan Compensation."
|
|
(2)
|
The annual incentive plan provides that in comparing performance against the targeted performance goals, the Compensation Committee may exclude from the comparison any item that was not considered for the establishment of the performance goals and is related to an activity or event that is outside of the Company's ordinary course of business as it deems appropriate. In evaluating 2025 results, the Committee removed the costs of the Company's Portfolio Optimization Plan, the impact of foreign currency translation, and the financial results of Biolie SAS, which was acquired in 2025, from adjusted EBITDA, adjusted operating profit, and adjusted revenue.
|
|
•
|
revenue growth (70% weight); and
|
|
•
|
adjusted return on invested capital (30% weight).
|
|
|
|
|
|
|
|
|
|
|
|
|
Three-Year
Performance Goal
|
|
|
2026-2028 Target(1) and
Percentage of Performance Goal Earned
|
|
|
Baseline(2)
|
|
|
Percentage
Weight of
PSU Award
Formula
|
|
Revenue growth
|
|
|
Less than -3% Compound Annual Growth Rate (CAGR) on baseline - minimum, 0%;
|
|
|
$1.6 billion
|
|
|
70%
|
|
|
3% CAGR on baseline - target, 100%;
|
|
|
|
|
||||
|
|
6% CAGR on baseline - maximum, 200%;
|
|
|
|
|
||||
|
|
10% CAGR on baseline, 1.5x maximum(3);
|
|
|
|
|
||||
|
|
14% CAGR on baseline, 2.0x maximum(3);
|
|
|
|
|
||||
|
|
19% or more CAGR on baseline, 2.5x maximum(3)
|
|
|
|
|
||||
|
|
|
|
|
|
|
|
|||
|
Adjusted return on
invested capital
|
|
|
50 basis points or more decrease on baseline - minimum, 0%;
|
|
|
9.5%
|
|
|
30%
|
|
|
25 basis points decrease on baseline, 25%;
|
|
|
|
|
||||
|
|
25 basis points increase on baseline - target, 100%;
|
|
|
|
|
||||
|
|
50 basis points increase on baseline - maximum, 200%;
|
|
|
|
|
||||
|
|
200 basis points increase on baseline, 1.5x maximum(3);
|
|
|
|
|
||||
|
|
300 basis points increase on baseline, 2.0x maximum(3);
|
|
|
|
|
||||
|
|
400 basis points or more increase on baseline, 2.5x maximum(3)
|
|
|
|
|
||||
|
|
|
|
|
|
|
|
|
|
|
|
(1)
|
Each three-year performance goal for 2026-2028 is subject to a minimum, target, and maximum level for purposes of determining any awards as shown above. Three-year performance below the minimum level would result in no award for that performance goal, while three-year performance equal to or above the maximum level would result in an award of 200% of the target level for that performance goal, or a multiple of such maximum if the Adjusted EBITDA gate is cleared and the stretch performance goals are met. Interpolation will be used to calculate the award if the performance falls between the various levels, including the enhancements.
|
|
(2)
|
The baseline was set based on our 2025 revenue and adjusted return on invested capital. In setting the baseline, the Committee removed the impact of costs associated with the Portfolio Optimization Plan from adjusted return on invested capital. Our stock plans provide that in comparing performance against the targeted performance goals, the Compensation Committee shall adjust performance goals to mitigate the unbudgeted impact of material, unusual, or nonrecurring gains and losses, accounting changes, the effect of foreign currency translation, or other extraordinary events, unless the Committee provides otherwise at the time of establishing the goals. Adjusted return on invested capital is calculated as the trailing twelve months of after-tax operating income divided by the five quarter average of invested capital. Invested capital equals debt plus shareholders' equity minus cash.
|
|
(3)
|
The enhanced payout levels will only be paid out in the event that the compound annual growth rate for Adjusted EBITDA over the three-year performance period exceeds 8%. In measuring Adjusted EBITDA, the Committee excludes the impact of non-cash equity based compensation as well as the effect of foreign currency translation.
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Three-Year
Performance Goal
|
|
|
2023-2025 Target(1) and
Percentage of Performance Goal Earned
|
|
|
2023-2025
Calculation(2)
|
|
|
Percentage
Weight of
PSU Award
Formula
|
|
|
Adjusted EBITDA growth
|
|
|
Less than -3% Compound Annual Growth Rate (CAGR) on 2022 EBITDA minimum, 0%;
|
|
|
$296.5 million
(4.1% CAGR
increase)
|
|
|
70%
|
|
|
|
3% CAGR on 2022 EBITDA target, 100%;
|
|
|
|
|
|||||
|
|
8% or more CAGR on 2022 EBITDA maximum, 200%
|
|
|
|
|
|
||||
|
|
|
|
|
|
|
|
|
|||
|
Adjusted return on invested capital
|
|
|
75 basis points or more decrease on 2022 ROIC minimum, 0%;
|
|
|
9.5%
(77 bps
decrease)
|
|
|
30%
|
|
|
|
50 basis points decrease on 2022 ROIC, 25%;
|
|
|
|
|
|||||
|
|
No change on 2022 ROIC target, 100%
|
|
|
|
|
|
||||
|
|
50 basis points or more increase on 2022 ROIC maximum, 200%
|
|
|
|
|
|
||||
|
|
|
|
|
|
|
|
|
|
|
|
|
(1)
|
Each three-year performance goal for 2023-2025 was subject to a minimum, target, and maximum level for purposes of determining any awards as shown above. Three-year performance equal to or below the minimum level resulted in no award for that performance goal.
|
|
(2)
|
Our stock plans provide that in comparing performance against the targeted performance goals, the Compensation Committee shall adjust performance targets to mitigate the unbudgeted impact of material, unusual or nonrecurring gains and losses, accounting changes, the effect of foreign currency translation, or other extraordinary events not foreseen at the time the targets were set, unless the Committee provides otherwise at the time of establishing the targets. In evaluating actual performance against the performance goals, the Committee removed: (i) the Portfolio Optimization Plan costs and the impact of foreign currency translation from Adjusted EBITDA and (ii) the Portfolio Optimization Plan costs from adjusted return on invested capital. In addition, in measuring Adjusted EBITDA, the Committee excludes the impact of non-cash equity-based compensation. Adjusted return on invested capital is calculated as the trailing twelve months of after-tax operating income divided by the five quarter average of invested capital. Invested capital equals debt plus shareholders' equity minus cash.
|
|
•
|
the Chief Executive Officer should own stock with a value of at least six times his annual base salary;
|
|
•
|
officers who are direct reports to the CEO should own stock with a value of at least two times their annual base salaries; and
|
|
•
|
other executive officers should own stock with a value of at least one times their annual base salaries
|
|
•
|
PROHIBIT hedging transactions using Company stock,
|
|
•
|
PROHIBIT the use of Company stock as collateral in a margin account,
|
|
•
|
PROHIBIT loans of Company stock for purposes of short selling, and
|
|
•
|
No categories of hedging transactions are specifically permitted under the Company's stock ownership guidelines for officers.
|
|
•
|
PROHIBIT hedging transactions using Company stock,
|
|
•
|
PROHIBIT the use of Company stock as collateral in a margin account,
|
|
•
|
PROHIBIT loans of Company stock for purposes of short selling, and
|
|
•
|
No categories of hedging transactions are specifically permitted under the Company's stock ownership guidelines for non-employee directors.
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Name and Principal Position
|
|
|
Year
|
|
|
Salary
($)
|
|
|
Bonus
($)
|
|
|
Stock
Awards
($)(1)
|
|
|
Option
Awards
($)
|
|
|
Non-Equity
Incentive Plan
Compensation
($)(2)
|
|
|
Change in
Pension Value
and
Nonqualified
Deferred
Compensation
Earnings
($)(3)
|
|
|
All Other
Compensation
($)(4)(5)
|
|
|
Total
($)
|
|
Paul Manning
Chairman, President, and
Chief Executive Officer
|
|
|
2025
|
|
|
$1,080,000
|
|
|
-
|
|
|
$4,750,076
|
|
|
-
|
|
|
$1,842,064
|
|
|
$769,000
|
|
|
$224,853
|
|
|
$8,665,993
|
|
|
2024
|
|
|
1,080,000
|
|
|
-
|
|
|
4,500,004
|
|
|
-
|
|
|
2,160,000
|
|
|
-
|
|
|
106,043
|
|
|
7,846,047
|
||
|
|
2023
|
|
|
1,080,000
|
|
|
-
|
|
|
4,300,041
|
|
|
-
|
|
|
91,277
|
|
|
504,000
|
|
|
198,834
|
|
|
6,174,152
|
||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||
|
Tobin Tornehl
Vice President and
Chief Financial Officer
|
|
|
2025
|
|
|
425,000
|
|
|
-
|
|
|
700,060
|
|
|
-
|
|
|
428,342
|
|
|
-
|
|
|
67,930
|
|
|
1,621,332
|
|
|
2024
|
|
|
364,000
|
|
|
-
|
|
|
637,576
|
|
|
-
|
|
|
424,000
|
|
|
-
|
|
|
41,123
|
|
|
1,466,699
|
||
|
|
2023
|
|
|
322,000
|
|
|
-
|
|
|
225,045
|
|
|
-
|
|
|
13,607
|
|
|
-
|
|
|
60,053
|
|
|
620,705
|
||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||
|
Michael C. Geraghty
President, Color
Group
|
|
|
2025
|
|
|
545,000
|
|
|
-
|
|
|
825,009
|
|
|
-
|
|
|
660,736
|
|
|
-
|
|
|
88,703
|
|
|
2,119,448
|
|
|
2024
|
|
|
517,000
|
|
|
-
|
|
|
790,002
|
|
|
-
|
|
|
649,055
|
|
|
-
|
|
|
56,684
|
|
|
2,012,741
|
||
|
|
2023
|
|
|
505,000
|
|
|
-
|
|
|
730,027
|
|
|
-
|
|
|
36,669
|
|
|
112,000
|
|
|
80,450
|
|
|
1,464,146
|
||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||
|
John J. Manning
Senior Vice President,
General Counsel, and Secretary
|
|
|
2025
|
|
|
510,000
|
|
|
-
|
|
|
675,051
|
|
|
-
|
|
|
514,010
|
|
|
101,000
|
|
|
91,825
|
|
|
1,891,886
|
|
|
2024
|
|
|
495,000
|
|
|
-
|
|
|
625,066
|
|
|
-
|
|
|
643,500
|
|
|
12,000
|
|
|
54,762
|
|
|
1,830,328
|
||
|
|
2023
|
|
|
485,000
|
|
|
-
|
|
|
590,028
|
|
|
-
|
|
|
26,644
|
|
|
74,000
|
|
|
85,750
|
|
|
1,261,422
|
||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||
|
Amy Schmidt Jones
Vice President, HR
and Senior Counsel
|
|
|
2025
|
|
|
439,000
|
|
|
-
|
|
|
550,006
|
|
|
-
|
|
|
374,383
|
|
|
-
|
|
|
76,104
|
|
|
1,439,493
|
|
|
2024
|
|
|
424,000
|
|
|
-
|
|
|
515,004
|
|
|
-
|
|
|
466,400
|
|
|
-
|
|
|
57,373
|
|
|
1,462,777
|
||
|
|
2023
|
|
|
415,000
|
|
|
-
|
|
|
495,013
|
|
|
-
|
|
|
19,291
|
|
|
-
|
|
|
80,477
|
|
|
1,009,781
|
||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(1)
|
The amounts in the table reflect the grant date fair value of stock awards to the named executive officer. Accounting Standards Codification ("ASC") 718 requires recognition of compensation expense over the vesting period (or until retirement age) for stock awards granted to employees based on the estimated fair value of the equity awards at the time of grant. The ultimate values of the stock awards to the executives generally will depend on the future market price of our Common Stock and, with respect to the performance stock units, achievement of performance conditions, which cannot be forecasted with reasonable accuracy. With respect to performance stock units, the amounts in the table assume the target level of performance conditions will be achieved. The values of the stock awards at the grant date in 2025, 2024, and 2023, respectively, assuming the maximum level of performance conditions (including all potential enhanced payouts) will be achieved are as follows: Mr. Paul Manning - $16,150,336, $7,200,038, and $6,880,091; Mr. Tornehl - $2,380,204, $1,020,122, and $360,059; Mr. Geraghty - $2,804,875, $1,263,987, and $1,168,019; Mr. John J. Manning -$2,295,328, $1,000,105, and $944,069; and Ms. Jones - $1,870,174, $823,975, and $792,033.
|
|
(2)
|
Amounts shown represent the amounts earned under the Company's annual management incentive plans with respect to the years indicated. The specific targets for the year are set in February of the same year.
|
|
(3)
|
Represents the increase in the actuarial present value of pension benefits during the specified fiscal year and the above market earnings on nonqualified deferred compensation. This benefit will not increase as a result of compensation increases after 2015 because the SERP was frozen by the Board in 2014. See the "Pension Benefits" and "Nonqualified Deferred Compensation" tables below for further discussion regarding Sensient's pension and deferred compensation plans.
|
|
(4)
|
Includes Company contributions under certain benefit plans and other arrangements for the named executive officers. These contributions are set forth in the following table. The Company's ESOP and Savings Plan are qualified plans subject to government imposed annual limitations on contributions. The Company's Supplemental Benefits Plan, which is a non-qualified plan, replaces benefits that cannot be provided by the qualified ESOP and Savings Plan because of these annual limitations. The amounts shown in the table below include contributions to the ESOP and Savings Plan as well as contributions to the Supplemental Benefits Plan. The amounts related to retirement plan benefits listed under the column entitled "All Other Compensation" in the "Summary Compensation Table" above are listed in the table below:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Name
|
|
|
Year
|
|
|
ESOP
|
|
|
Savings Plan
|
|
|
Total
|
|
Paul Manning
|
|
|
2025
|
|
|
$32,400
|
|
|
$129,600
|
|
|
$162,000
|
|
|
2024
|
|
|
11,713
|
|
|
46,851
|
|
|
58,564
|
||
|
|
2023
|
|
|
31,600
|
|
|
126,400
|
|
|
158,000
|
||
|
|
|
|
|
|
|
|
|
|||||
|
Tobin Tornehl
|
|
|
2025
|
|
|
8,490
|
|
|
33,960
|
|
|
42,450
|
|
|
2024
|
|
|
3,776
|
|
|
15,104
|
|
|
18,880
|
||
|
|
2023
|
|
|
6,340
|
|
|
25,360
|
|
|
31,700
|
||
|
|
|
|
|
|
|
|
|
|||||
|
Michael C. Geraghty
|
|
|
2025
|
|
|
11,941
|
|
|
47,762
|
|
|
59,703
|
|
|
2024
|
|
|
5,537
|
|
|
22,147
|
|
|
27,684
|
||
|
|
2023
|
|
|
11,290
|
|
|
45,160
|
|
|
56,450
|
||
|
|
|
|
|
|
|
|
|
|||||
|
John J. Manning
|
|
|
2025
|
|
|
11,535
|
|
|
46,140
|
|
|
57,675
|
|
|
2024
|
|
|
5,216
|
|
|
20,866
|
|
|
26,082
|
||
|
|
2023
|
|
|
10,895
|
|
|
43,580
|
|
|
54,475
|
||
|
|
|
|
|
|
|
|
|
|||||
|
Amy Schmidt Jones
|
|
|
2025
|
|
|
9,054
|
|
|
36,216
|
|
|
45,270
|
|
|
2024
|
|
|
4,433
|
|
|
17,732
|
|
|
22,165
|
||
|
|
2023
|
|
|
8,495
|
|
|
33,980
|
|
|
42,475
|
||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(5)
|
Includes non-retirement plan benefits. The non-retirement plan benefits include financial planning, allowances for individually leased or owned vehicles, an executive physical, and reimbursement of club membership dues and expenses. In addition, Mr. John Manning's son and Ms. Jones's daughter were each recipients of a four-year scholarship stipend from the Sensient Technologies Foundation in connection with the Sensient Technologies Corporation Scholarship Program. The program is opened on a yearly basis to high-school students who are children of regular, full-time employees of the Company. The National Merit Scholarship Corporation, an independent, not-for-profit organization, chooses the recipients of the scholarship stipends. The named executive officers did not receive any tax gross-ups related to these various other benefits after they were determined to be named executive officers and will not receive any tax gross-ups related to these benefits in future periods while he or she remains a named executive officer. The non-retirement plan benefits listed do not include benefits that are generally available to all salaried employees and do not discriminate in scope, terms, or operation in favor of executive officers. The amounts listed under the column entitled "All Other Compensation" in the "Summary Compensation Table" related to non-retirement plan benefits are listed in the table below:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Name
|
|
|
Year
|
|
|
Financial
Planning
($)
|
|
|
Automobile
($)
|
|
|
Executive
Physical
($)
|
|
|
Club
($)
|
|
|
Scholarship
($)
|
|
|
Tax
Gross-Up
Payments
($)
|
|
|
Total
($)
|
|
Paul Manning
|
|
|
2025
|
|
|
$17,748
|
|
|
$27,000
|
|
|
$3,200
|
|
|
$14,905
|
|
|
$-
|
|
|
$-
|
|
|
$62,853
|
|
|
2024
|
|
|
3,750
|
|
|
27,000
|
|
|
2,500
|
|
|
14,229
|
|
|
-
|
|
|
-
|
|
|
47,479
|
||
|
|
2023
|
|
|
-
|
|
|
27,000
|
|
|
-
|
|
|
13,834
|
|
|
-
|
|
|
-
|
|
|
40,834
|
||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||
|
Tobin Tornehl
|
|
|
2025
|
|
|
885
|
|
|
21,000
|
|
|
3,595
|
|
|
-
|
|
|
-
|
|
|
-
|
|
|
25,480
|
|
|
2024
|
|
|
845
|
|
|
21,000
|
|
|
-
|
|
|
-
|
|
|
-
|
|
|
398
|
|
|
22,243
|
||
|
|
2023
|
|
|
5,000
|
|
|
21,000
|
|
|
-
|
|
|
-
|
|
|
-
|
|
|
2,353
|
|
|
28,353
|
||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||
|
Michael C. Geraghty
|
|
|
2025
|
|
|
5,000
|
|
|
24,000
|
|
|
-
|
|
|
-
|
|
|
-
|
|
|
-
|
|
|
29,000
|
|
|
2024
|
|
|
5,000
|
|
|
24,000
|
|
|
-
|
|
|
-
|
|
|
-
|
|
|
-
|
|
|
29,000
|
||
|
|
2023
|
|
|
-
|
|
|
24,000
|
|
|
-
|
|
|
-
|
|
|
-
|
|
|
-
|
|
|
24,000
|
||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||
|
John J. Manning
|
|
|
2025
|
|
|
2,650
|
|
|
24,000
|
|
|
-
|
|
|
-
|
|
|
7,500
|
|
|
-
|
|
|
34,150
|
|
|
2024
|
|
|
4,680
|
|
|
24,000
|
|
|
-
|
|
|
-
|
|
|
-
|
|
|
-
|
|
|
28,680
|
||
|
|
2023
|
|
|
2,275
|
|
|
24,000
|
|
|
-
|
|
|
-
|
|
|
5,000
|
|
|
-
|
|
|
31,275
|
||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||
|
Amy Schmidt Jones
|
|
|
2025
|
|
|
1,600
|
|
|
21,000
|
|
|
3,234
|
|
|
-
|
|
|
5,000
|
|
|
-
|
|
|
30,834
|
|
|
2024
|
|
|
1,500
|
|
|
21,000
|
|
|
2,708
|
|
|
-
|
|
|
10,000
|
|
|
-
|
|
|
35,208
|
||
|
|
2023
|
|
|
1,675
|
|
|
21,000
|
|
|
3,362
|
|
|
-
|
|
|
7,500
|
|
|
4,465
|
|
|
38,002
|
||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||
|
Name
|
|
|
Grant
Date
|
|
|
Estimated Future Payouts Under Non-
Equity Incentive Plan Awards(1)
|
|
|
Estimated Future Payouts Under
Equity Incentive Plan Awards(2)
|
|
|
All Other
Stock
Awards:
Number
of Shares
of Stock
or Units(3)
(#)
|
|
|
All Other
Option
Awards:
Number of
Securities
Underlying
Options
(#)
|
|
|
Exercise
or Base
Price of
Option
Awards
($/Sh)
|
|
|
Grant Date
Fair Value
of Stock
and Option
Awards
($)(4)
|
||||||||||||
|
|
Threshold ($)
|
|
|
Target ($)
|
|
|
Maximum ($)
|
|
|
Threshold (#)
|
|
|
Target (#)
|
|
|
Maximum (#)
|
|
||||||||||||||||
|
Paul Manning
|
|
|
|
|
118,800
|
|
|
1,188,000
|
|
|
2,376,000
|
|
|
-
|
|
|
-
|
|
|
-
|
|
|
-
|
|
|
-
|
|
|
-
|
|
|
-
|
|
|
|
12/17/25
|
|
|
-
|
|
|
-
|
|
|
-
|
|
|
0
|
|
|
29,516
|
|
|
147,580
|
|
|
19,677
|
|
|
-
|
|
|
-
|
|
|
4,750,076
|
||
|
Tobin Tornehl
|
|
|
|
|
27,625
|
|
|
276,250
|
|
|
552,500
|
|
|
-
|
|
|
-
|
|
|
-
|
|
|
-
|
|
|
-
|
|
|
-
|
|
|
-
|
|
|
|
12/17/25
|
|
|
-
|
|
|
-
|
|
|
-
|
|
|
0
|
|
|
4,350
|
|
|
21,750
|
|
|
2,900
|
|
|
-
|
|
|
-
|
|
|
700,060
|
||
|
Michael C. Geraghty
|
|
|
|
|
35,425
|
|
|
354,250
|
|
|
708,500
|
|
|
-
|
|
|
-
|
|
|
-
|
|
|
-
|
|
|
-
|
|
|
-
|
|
|
-
|
|
|
|
12/17/25
|
|
|
-
|
|
|
-
|
|
|
-
|
|
|
0
|
|
|
5,126
|
|
|
25,630
|
|
|
3,418
|
|
|
-
|
|
|
-
|
|
|
825,009
|
||
|
John J. Manning
|
|
|
|
|
33,150
|
|
|
331,500
|
|
|
663,000
|
|
|
-
|
|
|
-
|
|
|
-
|
|
|
-
|
|
|
-
|
|
|
-
|
|
|
-
|
|
|
|
12/17/25
|
|
|
-
|
|
|
-
|
|
|
-
|
|
|
0
|
|
|
4,195
|
|
|
20,975
|
|
|
2,796
|
|
|
-
|
|
|
-
|
|
|
675,051
|
||
|
Amy Schmidt Jones
|
|
|
|
|
24,145
|
|
|
241,450
|
|
|
482,900
|
|
|
-
|
|
|
-
|
|
|
-
|
|
|
-
|
|
|
-
|
|
|
-
|
|
|
-
|
|
|
|
12/17/25
|
|
|
-
|
|
|
-
|
|
|
-
|
|
|
0
|
|
|
3,418
|
|
|
17,090
|
|
|
2,278
|
|
|
-
|
|
|
-
|
|
|
550,006
|
||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(1)
|
These awards were made pursuant to our annual management incentive plan, which provides for incentive payments conditioned upon the Company's performance in 2025. See "Components of 2025 Executive Compensation and Benefits Programs - Annual Incentive Plan Awards" above for more information regarding our non-equity incentive plan awards.
|
|
(2)
|
These are awards authorized by the Compensation Committee on December 17, 2025 under the Company's 2017 Stock Plan, which provide for incentive payments conditioned upon the Company's performance over the 2026-2028 three-year period. These awards consist of performance stock units granted to the named executive officers, which become earned and vest after satisfaction of a weighted average of achieving two separate performance metrics consisting of: (a) revenue growth (70% weight) and (b) adjusted return on invested capital (30% weight). The maximum amount includes achievement of all enhanced payout criteria. See "Components of 2025 Executive Compensation and Benefits Programs - Equity Awards" above for more information.
|
|
(3)
|
These are awards of restricted stock authorized by the Compensation Committee on December 17, 2025, under the Company's 2017 Stock Plan. Each of these awards vest following a three-year period of restriction.
|
|
(4)
|
The grant date fair value of the stock awards granted to the named executive officers equals the closing market price of our Common Stock on the December 17, 2025 grant date multiplied by the number of shares of stock, or units, as applicable, awarded at target. Assuming target levels of performance, each performance stock unit would be converted into one share of Common Stock after the three-year performance period.
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||||||
|
Name
|
|
|
Grant Date
|
|
|
Option Awards
|
|
|
Stock Awards(1)
|
|||||||||||||||||||||
|
|
Number
of
Securities
Underlying
Unexercised
Options
(#)
Exercisable
|
|
|
Number of
Securities
Underlying
Unexercised
Options
(#)
Unexercisable
|
|
|
Equity
Incentive
Plan
Awards:
Number of
Securities
Underlying
Unexercised
Unearned
Options
(#)
|
|
|
Option
Exercise
Price
($)
|
|
|
Option
Expiration
Date
|
|
|
Number
of
Shares
or Units
of Stock
That
Have
Not
Vested(2)
(#)
|
|
|
Market
Value of
Shares or
Units of
Stock That
Have Not
Vested
($)
|
|
|
Equity
Incentive
Plan
Awards:
Number of
Unearned
Shares,
Units or
Other
Rights
That Have
Not
Vested(3)
(#)
|
|
|
Equity
Incentive
Plan
Awards:
Market or
Payout
Value of
Unearned
Shares,
Units or
Other Rights
That Have
Not Vested
($)
|
|||||
|
Paul Manning
|
|
|
12/7/22
|
|
|
-
|
|
|
-
|
|
|
-
|
|
|
-
|
|
|
-
|
|
|
-
|
|
|
-
|
|
|
35,160(4)
|
|
|
3,303,282(4)
|
|
|
12/6/23
|
|
|
-
|
|
|
-
|
|
|
-
|
|
|
-
|
|
|
-
|
|
|
28,294
|
|
|
2,658,221
|
|
|
42,442
|
|
|
3,987,426
|
||
|
|
12/4/24
|
|
|
-
|
|
|
-
|
|
|
-
|
|
|
-
|
|
|
-
|
|
|
22,994
|
|
|
2,160,286
|
|
|
34,492
|
|
|
3,240,523
|
||
|
|
12/17/25
|
|
|
-
|
|
|
-
|
|
|
-
|
|
|
-
|
|
|
-
|
|
|
19,677
|
|
|
1,848,654
|
|
|
29,516
|
|
|
2,773,028
|
||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
6,667,161
|
|
|
|
|
13,304,259
|
||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||
|
Tobin Tornehl
|
|
|
12/7/22
|
|
|
-
|
|
|
-
|
|
|
-
|
|
|
-
|
|
|
-
|
|
|
-
|
|
|
-
|
|
|
1,758(4)
|
|
|
165,164(4)
|
|
|
12/6/23
|
|
|
-
|
|
|
-
|
|
|
-
|
|
|
-
|
|
|
-
|
|
|
1,481
|
|
|
139,140
|
|
|
2,221
|
|
|
208,663
|
||
|
|
7/1/24
|
|
|
-
|
|
|
-
|
|
|
-
|
|
|
-
|
|
|
-
|
|
|
747
|
|
|
70,181
|
|
|
1,120
|
|
|
105,224
|
||
|
|
12/4/24
|
|
|
-
|
|
|
-
|
|
|
-
|
|
|
-
|
|
|
-
|
|
|
2,555
|
|
|
240,042
|
|
|
3,833
|
|
|
360,110
|
||
|
|
12/17/25
|
|
|
-
|
|
|
-
|
|
|
-
|
|
|
-
|
|
|
-
|
|
|
2,900
|
|
|
272,455
|
|
|
4,350
|
|
|
408,683
|
||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
721,818
|
|
|
|
|
1,247,844
|
||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||
|
Michael C. Geraghty
|
|
|
12/7/22
|
|
|
-
|
|
|
-
|
|
|
-
|
|
|
-
|
|
|
-
|
|
|
-
|
|
|
-
|
|
|
5,765(4)
|
|
|
541,622(4)
|
|
|
12/6/23
|
|
|
-
|
|
|
-
|
|
|
-
|
|
|
-
|
|
|
-
|
|
|
4,804
|
|
|
451,336
|
|
|
7,205
|
|
|
676,910
|
||
|
|
12/4/24
|
|
|
-
|
|
|
-
|
|
|
-
|
|
|
-
|
|
|
-
|
|
|
4,037
|
|
|
379,276
|
|
|
6,055
|
|
|
568,867
|
||
|
|
12/17/25
|
|
|
-
|
|
|
-
|
|
|
-
|
|
|
-
|
|
|
-
|
|
|
3,418
|
|
|
321,121
|
|
|
5,126
|
|
|
481,588
|
||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
1,151,733
|
|
|
|
|
2,268,987
|
||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||
|
John J. Manning
|
|
|
12/7/22
|
|
|
-
|
|
|
-
|
|
|
-
|
|
|
-
|
|
|
-
|
|
|
-
|
|
|
-
|
|
|
4,702(4)
|
|
|
441,753(4)
|
|
|
12/6/23
|
|
|
-
|
|
|
-
|
|
|
-
|
|
|
-
|
|
|
-
|
|
|
3,882
|
|
|
364,714
|
|
|
5,824
|
|
|
547,165
|
||
|
|
12/4/24
|
|
|
-
|
|
|
-
|
|
|
-
|
|
|
-
|
|
|
-
|
|
|
3,194
|
|
|
300,076
|
|
|
4,791
|
|
|
450,114
|
||
|
|
12/17/25
|
|
|
-
|
|
|
-
|
|
|
-
|
|
|
-
|
|
|
-
|
|
|
2,796
|
|
|
262,684
|
|
|
4,195
|
|
|
394,120
|
||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
927,474
|
|
|
|
|
1,833,152
|
||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||
|
Amy Schmidt Jones
|
|
|
12/7/22
|
|
|
-
|
|
|
-
|
|
|
-
|
|
|
-
|
|
|
-
|
|
|
-
|
|
|
-
|
|
|
3,966(4)
|
|
|
372,606(4)
|
|
|
12/6/23
|
|
|
-
|
|
|
-
|
|
|
-
|
|
|
-
|
|
|
-
|
|
|
3,257
|
|
|
305,995
|
|
|
4,886
|
|
|
459,040
|
||
|
|
12/4/24
|
|
|
-
|
|
|
-
|
|
|
-
|
|
|
-
|
|
|
-
|
|
|
2,632
|
|
|
247,276
|
|
|
3,947
|
|
|
370,821
|
||
|
|
12/17/25
|
|
|
-
|
|
|
-
|
|
|
-
|
|
|
-
|
|
|
-
|
|
|
2,278
|
|
|
214,018
|
|
|
3,418
|
|
|
321,121
|
||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
767,289
|
|
|
|
|
1,523,588
|
||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(1)
|
The value indicated in the table is based on the $93.95 per share closing price of a share of Common Stock on December 31, 2025 and assumes target levels of performance for the performance stock units.
|
|
(2)
|
The amounts in this column reflect shares of restricted stock that have been granted as of December 31, 2025, but which remained subject to additional vesting requirements. These shares of restricted stock are subject to a three-year cliff vesting schedule that begins on the grant date.
|
|
(3)
|
The amounts in this column reflect performance stock units that have been granted as of December 31, 2025 and have not vested. The performance stock units are eligible to vest based upon the Company's achievement during a three-year performance period of certain performance criteria based on (a) adjusted EBITDA growth and (b) adjusted return on invested capital for the 2022-2024 awards and (x) revenue growth and (y) adjusted return on invested capital for the 2025 awards. The actual number of shares earned will be determined and vest following the three-year performance period.
|
|
(4)
|
These performance stock units vested at 85.4% of the target award amount shown above based upon the Company's achievement of certain performance criteria based on adjusted EBITDA growth and adjusted return on invested capital during a three-year performance period ending on December 31, 2025.
|
|
|
|
|
|
|
|
|
||||||
|
|
|
Option Awards
|
|
|
Stock Awards
|
|||||||
|
Name
|
|
|
Number
of Shares
Acquired on
Exercise
(#)
|
|
|
Value
Realized on
Exercise
($)
|
|
|
Number
of Shares
Acquired on
Vesting
(#)(1)
|
|
|
Value
Realized on
Vesting
($)(1)
|
|
Paul Manning
|
|
|
-
|
|
|
$-
|
|
|
26,658
|
|
|
$2,194,753
|
|
Tobin Tornehl
|
|
|
-
|
|
|
-
|
|
|
1,241
|
|
|
102,172
|
|
Michael C. Geraghty
|
|
|
-
|
|
|
-
|
|
|
4,031
|
|
|
331,872
|
|
John J. Manning
|
|
|
-
|
|
|
-
|
|
|
3,317
|
|
|
273,089
|
|
Amy Schmidt Jones
|
|
|
-
|
|
|
-
|
|
|
2,853
|
|
|
234,887
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(1)
|
Includes performance stock units awarded in 2021 that vested in February 2025 and converted into shares of Common Stock at 102.2% of the target award after a three-year performance period ended December 31, 2024. The amounts in this column represent the product of the number of shares acquired on vesting and the closing market price of the shares on the vesting date, plus the value of the dividends accrued on the shares that vested. The "Value Realized on Vesting" and "Number of Shares Acquired on Vesting" have not been reduced to account for any shares withheld by the Company to satisfy the tax liability incident to the vesting.
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Name
|
|
|
Plan
Name
|
|
|
Number of
Years
Credited
Service
(#)
|
|
|
Present Value
of Accumulated
Benefit
($)(1)
|
|
|
Payments During
Last Fiscal Year
($)
|
|
Paul Manning
|
|
|
SERP
|
|
|
6
|
|
|
$7,429,000
|
|
|
$-
|
|
Tobin Tornehl
|
|
|
-
|
|
|
-
|
|
|
-
|
|
|
-
|
|
Michael C. Geraghty
|
|
|
SERP
|
|
|
4
|
|
|
2,227,000
|
|
|
-
|
|
John J. Manning
|
|
|
SERP
|
|
|
2
|
|
|
1,226,000
|
|
|
-
|
|
Amy Schmidt Jones
|
|
|
-
|
|
|
-
|
|
|
-
|
|
|
-
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(1)
|
The benefits for Mr. Paul Manning had not yet vested at year-end.
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Name
|
|
|
Executive
Contributions
in Last FY
($)
|
|
|
Registrant
Contributions
in Last FY
($)(1)
|
|
|
Aggregate
Earnings
in Last FY
($)(2)
|
|
|
Aggregate
Withdrawals/
Distributions
($)
|
|
|
Aggregate
Balance
at Last FYE
($)
|
|
Paul Manning
|
|
|
$-
|
|
|
$41,314
|
|
|
$132,198
|
|
|
$-
|
|
|
$1,154,150
|
|
Tobin Tornehl
|
|
|
-
|
|
|
1,630
|
|
|
10,054
|
|
|
-
|
|
|
60,777
|
|
Michael C. Geraghty
|
|
|
-
|
|
|
10,433
|
|
|
118,987
|
|
|
-
|
|
|
1,474,863
|
|
John J. Manning
|
|
|
-
|
|
|
8,832
|
|
|
39,276
|
|
|
-
|
|
|
247,286
|
|
Amy Schmidt Jones
|
|
|
-
|
|
|
4,915
|
|
|
15,576
|
|
|
-
|
|
|
106,066
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(1)
|
The amount included in this column for each named executive officer is included in such named executive officer's compensation set forth in the "Summary Compensation Table" above.
|
|
(2)
|
The aggregate earnings reported in this column are not "above-market or preferential earnings" and therefore are not required to be reported in the Summary Compensation Table.
|
|
|
|
|
|
|
|
|
|
|
|
|
Termination Benefits
(3x base salary & bonus)(1)
|
|
|
Health and Other
Benefit Plans
(3x annual benefits)
|
|
|
SERP
(3 years' service &
age credit)
|
|
|
Total
|
|
$9,720,000
|
|
|
$539,227
|
|
|
$11,815,439
|
|
|
$22,074,666
|
|
|
|
|
|
|
|
|
|
|
|
|
(1)
|
The severance amount is calculated as three times the sum of the executive's base salary plus the highest annual bonus for the last five years or since reaching age 50, whichever is greater.
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Executive
|
|
|
Severance
Amount(1)
|
|
|
Pension
Enhancement(2)
|
|
|
Value of
Stock
Awards
That Vest
Early(3)
|
|
|
Estimated
Employee
Benefits
|
|
|
Estimated
Excise Taxes,
Grossed-Up
For Other
Taxes Thereon(4)
|
|
|
Total
Estimated
Payments
|
|
Paul Manning
|
|
|
$9,720,000
|
|
|
$12,289,439
|
|
|
$19,971,421
|
|
|
$539,227
|
|
|
$-
|
|
|
$42,520,087
|
|
Tobin Tornehl
|
|
|
2,547,000
|
|
|
95,100
|
|
|
1,969,662
|
|
|
164,904
|
|
|
-
|
|
|
4,776,666
|
|
Michael C. Geraghty
|
|
|
3,582,164
|
|
|
169,350
|
|
|
3,420,720
|
|
|
120,875
|
|
|
-
|
|
|
7,293,109
|
|
John J. Manning
|
|
|
3,460,500
|
|
|
1,783,368
|
|
|
2,760,627
|
|
|
180,433
|
|
|
-
|
|
|
8,184,928
|
|
Amy Schmidt Jones
|
|
|
2,716,200
|
|
|
127,425
|
|
|
2,290,877
|
|
|
121,011
|
|
|
-
|
|
|
5,255,513
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(1)
|
The severance amount is calculated as three times the sum of the executive's base salary plus the highest annual bonus for the last five years or since reaching age 50, whichever is greater.
|
|
(2)
|
The pension enhancement is calculated based on the value of three additional years of employer contributions under Sensient's benefit plans. For the named executive officers with unvested benefits in the SERP, the pension enhancement also includes calculation of the SERP benefits using the 2015 salary and the bonus paid in February 2015.
|
|
(3)
|
Reflects the vesting of all outstanding equity awards as of December 31, 2025. Performance stock units are subject to accelerated vesting at target performance levels upon a change of control, whether or not followed by a qualifying severance. Pursuant to the terms of the restricted stock awards, the Compensation Committee may, among other actions, provide for the acceleration of any time period relating to the vesting of a restricted stock award or may provide for the purchase or termination of such awards for an amount of cash that could have been received had the award been currently exercisable. The above table assumes early vesting of such awards.
|
|
(4)
|
None of the Company's change of control agreements provide for any tax gross-ups.
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||
|
Year
|
|
|
Summary
Compensation
Table Total for
CEO
($)
|
|
|
Comp.
Actually
Paid to CEO
($)(1)
|
|
|
Average
Summary
Compensation
Table Total
for Non-CEO
NEOs
($)(2)
|
|
|
Average Comp.
Actually Paid
to Non-CEO
NEOs
($)
|
|
|
Value of Initial
Fixed $100
Investment
Based On:
($)
|
|
|
Net Income
($)
|
|
|
Adjusted
EBITDA
($)(4)
|
|||
|
|
TSR
|
|
|
Peer
Group
TSR(3)
|
|
|||||||||||||||||||
|
2025
|
|
|
$8,665,993
|
|
|
$16,686,541
|
|
|
$1,768,040
|
|
|
$2,866,926
|
|
|
141
|
|
|
109
|
|
|
$134,489,254
|
|
|
$297,977,699
|
|
2024
|
|
|
7,846,047
|
|
|
10,136,990
|
|
|
1,427,716
|
|
|
1,394,391
|
|
|
105
|
|
|
116
|
|
|
124,665,918
|
|
|
268,622,778
|
|
2023
|
|
|
6,174,152
|
|
|
2,883,064
|
|
|
1,407,532
|
|
|
898,636
|
|
|
95
|
|
|
119
|
|
|
93,393,883
|
|
|
249,616,571
|
|
2022
|
|
|
7,597,899
|
|
|
5,795,937
|
|
|
1,952,357
|
|
|
1,637,418
|
|
|
103
|
|
|
106
|
|
|
140,887,447
|
|
|
262,824,029
|
|
2021
|
|
|
7,062,124
|
|
|
13,897,655
|
|
|
1,751,450
|
|
|
3,072,403
|
|
|
138
|
|
|
119
|
|
|
118,744,869
|
|
|
241,869,230
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(1)
|
To calculate the compensation actually paid, the following amounts were deducted from and added to Summary Compensation Table ("SCT") total compensation:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
CEO SCT Total to Compensation "Actually Paid" Adjustments
|
|
|
2025
|
|
|
2024
|
|
|
2023
|
|
|
2022
|
|
|
2021
|
|
|
|
Deduction for Change in Actuarial Present Values reported under the "Change in Pension Value and Nonqualified Deferred Compensation Earnings" Column of the SCT
|
|
|
$(769,000)
|
|
|
$-
|
|
|
$(504,000)
|
|
|
$-
|
|
|
$-
|
|
|
|
Addition of "Service Cost" for Pension Plans
|
|
|
356,000
|
|
|
355,000
|
|
|
332,000
|
|
|
417,000
|
|
|
430,000
|
|
|
|
Deduction for Amounts Reported under the "Stock Awards" Column of the SCT
|
|
|
(4,750,076)
|
|
|
(4,500,004)
|
|
|
(4,300,041)
|
|
|
(4,300,068)
|
|
|
(4,300,013)
|
|
|
|
Addition of Fair Value of Awards Granted During Year that Remain Unvested as of Year-End
|
|
|
4,621,682
|
|
|
4,096,453
|
|
|
4,668,576
|
|
|
4,273,112
|
|
|
4,350,008
|
|
|
|
Addition/Deduction of Change in Fair Value from Prior Year-End to Current Year-End of Awards Granted Prior to Year that were Outstanding and Unvested as of Year-End
|
|
|
7,258,622
|
|
|
1,884,111
|
|
|
(1,487,969)
|
|
|
(1,138,742)
|
|
|
6,583,712
|
|
|
|
Addition/Deduction of Change in Fair Value from Prior Year-End to Vesting Date of Awards Granted Prior to Year that Vested During Year
|
|
|
1,180,766
|
|
|
342,020
|
|
|
(2,098,387)
|
|
|
(1,113,555)
|
|
|
(258,785)
|
|
|
|
Addition of Dividends or Other Earnings Paid During Year Prior to Vesting Date
|
|
|
122,554
|
|
|
113,363
|
|
|
98,733
|
|
|
60,291
|
|
|
30,609
|
|
|
|
Total Adjustments
|
|
|
8,020,548
|
|
|
2,290,943
|
|
|
(3,291,088)
|
|
|
(1,801,962)
|
|
|
6,835,531
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Non-CEO NEOs SCT Total to Compensation "Actually Paid" Adjustments
|
|
|
2025
|
|
|
2024
|
|
|
2023
|
|
|
2022
|
|
|
2021
|
|
|
|
Deduction for Change in Actuarial Present Values reported under the "Change in Pension Value and Nonqualified Deferred Compensation Earnings" Column of the SCT
|
|
|
$(25,250)
|
|
|
$(2,400)
|
|
|
$(84,500)
|
|
|
$-
|
|
|
$(13,750)
|
|
|
|
Addition of "Service Cost" for Pension Plans
|
|
|
68,250
|
|
|
58,000
|
|
|
109,500
|
|
|
107,250
|
|
|
106,500
|
|
|
|
Deduction for Amounts Reported under the "Stock Awards" Column of the SCT
|
|
|
(687,532)
|
|
|
(513,530)
|
|
|
(722,520)
|
|
|
(761,281)
|
|
|
(717,543)
|
|
|
|
Addition of Fair Value of Awards Granted During Year that Remain Unvested as of Year-End
|
|
|
668,947
|
|
|
476,901
|
|
|
784,443
|
|
|
756,509
|
|
|
725,885
|
|
|
|
Addition/Deduction of Change in Fair Value from Prior Year-End to Current Year-End of Awards Granted Prior to Year that were Outstanding and Unvested as of Year-End
|
|
|
923,215
|
|
|
192,677
|
|
|
(232,473)
|
|
|
(217,159)
|
|
|
1,265,101
|
|
|
|
Addition/Deduction of Change in Fair Value from Prior Year-End to Vesting Date of Awards Granted Prior to Year that Vested During Year
|
|
|
135,929
|
|
|
56,642
|
|
|
(379,796)
|
|
|
(211,204)
|
|
|
(51,201)
|
|
|
|
Deduction of Fair Value from Prior Year-End of Awards Granted in Any Prior Year that Failed to Meet Vesting Conditions During Year
|
|
|
-
|
|
|
(314,899)
|
|
|
-
|
|
|
-
|
|
|
-
|
|
|
|
Addition of Dividends or Other Earnings Paid During Year Prior to Vesting Date
|
|
|
15,327
|
|
|
13,284
|
|
|
16,450
|
|
|
10,946
|
|
|
5,961
|
|
|
|
Total Adjustments
|
|
|
1,098,886
|
|
|
(33,325)
|
|
|
(508,896)
|
|
|
(314,939)
|
|
|
1,320,953
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(2)
|
The named executive officers for 2021-2022 set forth in this table are: Paul Manning, Chairman, President, and Chief Executive Officer; Stephen J. Rolfs, Former Senior Vice President and Chief Financial Officer; Michael C. Geraghty, President, Color Group; E. Craig Mitchell, Former President, Flavors & Extracts Group; and John J. Manning, Senior Vice President, General Counsel, and Secretary. Amy Schmidt Jones, Vice President, Human Resources and Senior Counsel, and Messrs. Paul Manning, Rolfs, Geraghty, and John J. Manning were the named executive officers for 2023. Tobin Tornehl, Vice President and Chief Financial Officer, Ms. Jones, and Messrs. Paul Manning, Rolfs, Geraghty, and John J. Manning were the named executive officers for 2024. Ms. Jones and Messrs. Paul Manning, Geraghty, John J. Manning and Tornehl were the named executive officers for 2025.
|
|
(3)
|
This column assumes a $100 investment was made in Standard & Poor's Midcap Specialty Chemicals Index on December 31, 2020, and all dividends were reinvested.
|
|
(4)
|
The following table summarizes the reconciliation between Operating Income (GAAP) and Adjusted EBITDA for the twelve months ended December 31, 2025, 2024, 2023, 2022, and 2021:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
2025
|
|
|
2024
|
|
|
2023
|
|
|
2022
|
|
|
2021
|
|
|
Operating income (GAAP)
|
|
|
$207,128,054
|
|
|
$191,578,504
|
|
|
$155,023,226
|
|
|
$196,751,108
|
|
|
$170,027,977
|
|
Depreciation and amortization
|
|
|
61,097,548
|
|
|
60,329,107
|
|
|
57,819,591
|
|
|
52,466,866
|
|
|
52,050,883
|
|
Depreciation and amortization, divested product lines
|
|
|
-
|
|
|
-
|
|
|
-
|
|
|
-
|
|
|
(145,952)
|
|
Share-based compensation expense
|
|
|
13,946,132
|
|
|
10,083,942
|
|
|
8,932,887
|
|
|
16,138,010
|
|
|
9,572,800
|
|
Divestiture & other related (income) costs, before tax
|
|
|
-
|
|
|
-
|
|
|
-
|
|
|
(2,531,955)
|
|
|
14,138,047
|
|
Results of operations of the divested product lines, before tax
|
|
|
-
|
|
|
-
|
|
|
-
|
|
|
-
|
|
|
(1,879,711)
|
|
Operational improvement plan costs (income), before tax
|
|
|
-
|
|
|
-
|
|
|
-
|
|
|
-
|
|
|
(1,894,814)
|
|
Portfolio optimization plan costs, before tax
|
|
|
15,805,965
|
|
|
6,631,225
|
|
|
27,840,867
|
|
|
-
|
|
|
-
|
|
Adjusted EBITDA
|
|
|
$297,977,699
|
|
|
$268,622,778
|
|
|
$249,616,571
|
|
|
$262,824,029
|
|
|
$241,869,230
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
•
|
Adjusted EBITDA (company-selected measure)
|
|
•
|
Adjusted return on invested capital
|
|
•
|
Adjusted revenue
|
|
•
|
Adjusted operating profit
|
|
|
|
|
|
|
|
|
|
|
|
|
Plan category
|
|
|
Number of
securities to be
issued upon
exercise of
outstanding
options, warrants,
and rights
|
|
|
Weighted-average
exercise price
of outstanding
options, warrants,
and rights
|
|
|
Number of
securities
remaining available
for future issuance
under equity
compensation
plans (excluding
securities reflected
in column (a))
|
|
|
|
(a)
|
|
|
(b)
|
|
|
(c)
|
|
|
Equity compensation plans approved
by the Company's shareholders
|
|
|
579,594(1)
|
|
|
-(2)
|
|
|
698,770(3)
|
|
Equity compensation plans not approved
by the Company's shareholders
|
|
|
-
|
|
|
-
|
|
|
-
|
|
Total
|
|
|
579,594(1)
|
|
|
-(2)
|
|
|
698,770(3)
|
|
|
|
|
|
|
|
|
|
|
|
|
(1)
|
Includes 293,911 performance stock unit awards under the Company's 2017 Stock Plan at their target values. The ultimate amount of performance stock units that could vest can range from 0% to 200% of target amount for the 2022-2024 awards and from 0% to 500% of the target amount for the 2025 awards, or from 0 units to 754,499 units for all awards. Excludes deferred shares, which have no exercise price.
|
|
(2)
|
There are no outstanding options, and the restricted stock awards and performance stock units do not have an exercise price.
|
|
(3)
|
Includes the following as of December 31, 2025: (i) up to 498,770 shares that may be issued pursuant to awards under the Company's 2017 Stock Plan (after reserving 754,499 shares of Common Stock, the maximum shares that could be earned under outstanding performance stock unit awards); and (ii) up to 200,000 shares of deferred stock issuable under the Company's 1999 Amended and Restated Directors Deferred Compensation Plan.
|
|
ITEM 2.
|
ADVISORY (NONBINDING) VOTE TO APPROVE EXECUTIVE COMPENSATION
|
|
•
|
to measure and reward performance from each of our executive officers and from the management team as a whole;
|
|
•
|
to align Sensient's interests with the interests of executives and other employees through compensation programs that recognize individual contributions toward the achievement of corporate goals and objectives without encouraging unnecessary or excessive risks;
|
|
•
|
to further link executive and shareholder interests through equity-based compensation and long-term stock ownership arrangements;
|
|
•
|
to attract and retain high caliber executive and employee talent; and
|
|
•
|
to encourage management practices, controls, and oversight that prioritize ethical behavior and minimize the risks present in Sensient's business.
|
|
ITEM 3.
|
RATIFICATION OF APPOINTMENT OF INDEPENDENT AUDITORS
|
|
|
|
|
|
|
|
|
By Order of the Board of Directors,
|
|
|
|
|
||
|
|
|
John J. Manning
|
|
|
|
|
Secretary
|
|
|
|
|
|
|
|
•
|
Substantial recent business experience at the senior management level, preferably as chief executive officer.
|
|
•
|
Recent leadership position in the administration of a major college or university.
|
|
•
|
Recent specialized expertise at the doctoral level in a science or discipline important to the Company's business.
|
|
•
|
Recent prior senior level governmental or military service.
|
|
•
|
Financial expertise or risk assessment, risk management, or employee benefit skills or experience.
|
|
•
|
The candidate's ability to work constructively with other members of the Board and with management.
|
|
•
|
Whether the candidate brings an appropriate mix of skills and experience that will enhance the diversity and overall composition of the Board. Directors should be selected so that the Board is a diverse body, with diversity reflecting gender, race, ethnicity, national origin, and professional experience.
|
|
•
|
Whether the candidate is able to devote the time necessary to properly discharge his or her responsibilities. The Board will consider the number of other boards on which the candidate serves, and the likelihood that such other service will interfere with the candidate's ability to perform his or her responsibilities to the Company.
|