AGCO Corporation
03/06/2026 | Press release | Distributed by Public on 03/06/2026 15:21
Management Change/Compensation (Form 8-K)
Item 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
On March 3, 2026, the Talent and Compensation Committee of the Board of Directors of AGCO Corporation (the "Company") approved certain changes to the Annual Incentive Plan (the "Plan") for 2026. The amended Plan updates individual award opportunities, performance metrics and the weighting of these metrics to reflect the Company's current annual incentive program design. The amendments also modernize the Plan in light of legal and regulatory changes. Specifically, the amendments eliminate or broaden certain provisions that were historically intended to foster compliance with the now repealed qualified performance-based compensation exceptions to Section 162(m) of the Internal Revenue Code, including the elimination of the Plan's individual award limits, and the broadening of the Plan's adjustment provisions to enable the Talent and Compensation Committee, in its discretion, to make adjustments to performance metrics and plan payouts. The amended Plan also adds a provision stating that awards are subject to recoupment under the Company's clawback policies as in effect from time to time.
The foregoing summary of the amendment to the Plan is not intended to be complete and is qualified in its entirety by reference to the Plan, a copy of which is attached as Exhibit 10.1 to this Current Report on Form 8-K.
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