Ingersoll Rand (NYSE: IR) details votes on directors, pay and 2026 incentive plan
Ingersoll Rand Inc. is holding its 2026 Annual Meeting of Stockholders as a virtual-only event on June 11, 2026, at 10:30 a.m. Eastern Time. Stockholders as of April 16, 2026, when 391,332,297 common shares were outstanding, may attend and vote online using a 16-digit control number.
Stockholders will vote on four key proposals: electing ten directors, ratifying Deloitte & Touche LLP as independent auditor for 2026, approving a non-binding advisory vote on executive compensation, and approving the 2026 Omnibus Incentive Plan. The board recommends a “FOR” vote on all four.
The proxy describes a declassified board, majority voting for directors, proxy access, and a dedicated Sustainability Committee overseeing environmental, social, and human capital matters. It also highlights strong employee ownership, high engagement scores, and an executive pay program built around pay-for-performance, with prior say-on-pay support of 96% at the 2025 meeting.
Positive
- None.
Negative
- None.
Key Figures
Key Terms
broker non-vote financial
Say on Pay Proposal financial
proxy access financial
Science Based Targets initiative other
Incentive Compensation Clawback Policy financial
proxy statement financial
Compensation Summary
- Non-binding advisory vote to approve compensation of named executive officers
- Approval of the Ingersoll Rand Inc. 2026 Omnibus Incentive Plan
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Check the appropriate box: | |||
☐ | Preliminary Proxy Statement | ||
☐ | Confidential, for Use of the Commission Only (as permitted by Rule 14a-6(e)(2)) | ||
☒ | Definitive Proxy Statement | ||
☐ | Definitive Additional Materials | ||
☐ | Soliciting Material under §240.14a-12 | ||
☒ | No fee required | |||||
☐ | Fee paid previously with preliminary materials | |||||
☐ | Fee computed on table in exhibit required by Item 25(b) per Exchange Act Rules 14a-6(i)(1) and 0-11 | |||||
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![]() | Date and Time Thursday, June 11, 2026 10:30 a.m. Eastern Time | ![]() | Virtual Meeting Information You can attend the Annual Meeting online, vote your shares electronically and submit your questions during the Annual Meeting, by visiting www.virtualshareholdermeeting.com/ IR2026. You will need to have your 16-Digit Control Number included on your Notice, or your proxy card (or voting instruction form) (if you received a printed copy of the proxy materials) or your e-delivery notice or as otherwise provided by your broker, as applicable to join the Annual Meeting. | ![]() | Record date April 16, 2026. Only stockholders of record at the close of business on April 16, 2026, are entitled to notice of, and to vote at, the Annual Meeting. Each stockholder of record is entitled to one vote for each share of common stock held at that time. |
2026 Proposals | Board Vote Recommendation | Page Reference (for more detail) | |||||||||
1 | Election of the ten directors named in this Proxy Statement and nominated by our board of directors to serve until the 2027 Annual Meeting of Stockholders or until their respective successors are duly elected and qualified. | FOR | Page 12 | ||||||||
2 | Ratification of appointment of Deloitte & Touche LLP as our independent registered public accounting firm for 2026. | FOR | Page 32 | ||||||||
3 | Non-binding vote to approve executive compensation. | FOR | Page 35 | ||||||||
4 | Approval of Ingersoll Rand Inc. 2026 Omnibus Incentive Plan | FOR | Page 71 | ||||||||
5 | To transact such other business as may properly come before the Annual Meeting or any adjournment or postponement thereof. | ||||||||||
• | Internet, through computer or mobile device such as a tablet or smartphone; |
• | Telephone; or |
• | Mail. |
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Important Notice Regarding the Availability of Proxy Materials for the Annual Meeting to be Held on Thursday, June 11, 2026: The Proxy Statement and 2025 Annual Report to Stockholders, which includes the Annual Report on Form 10-K for the year ended December 31, 2025, are available at www.proxyvote.com (a site that does not have “cookies” that identify visitors to the site). | ||

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Page | |||
Notice of 2026 Annual Meeting of Stockholders | 1 | ||
General Information | 7 | ||
Proposal One: Election of Directors | 12 | ||
Director Biographies and Qualifications | 13 | ||
The Board of Directors and Certain Governance Matters | 18 | ||
Governance Highlights | 18 | ||
Communications with the Board | 19 | ||
Director Independence and Independence Determinations | 19 | ||
Annual Independent Board Assessment | 19 | ||
Incumbent Director Qualifications | 19 | ||
Board Leadership Structure | 20 | ||
Board Committees and Meetings | 20 | ||
Oversight of Risk Management | 23 | ||
Executive Sessions | 24 | ||
Belonging, Engagement and Development | 24 | ||
Commitment to Sustainability | 25 | ||
Committee Charters and Corporate Governance Guidelines | 26 | ||
Code of Conduct | 26 | ||
Securities Trading Policy; Anti-Hedging and Anti-Pledging Policy | 26 | ||
Director Nomination Process | 27 | ||
Executive Officers of the Company | 29 | ||
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Proposal Two: Ratification of Independent Registered Public Accounting Firm | 32 | ||
Audit and Non-Audit Fees | 32 | ||
Report of the Audit Committee | 34 | ||
Proposal Three: Non-Binding Vote to Approve Executive Compensation | 35 | ||
Report of the Compensation Committee | 36 | ||
Executive Compensation | 37 | ||
Letter From the Compensation Committee | 37 | ||
Stockholder Outreach and Engagement; “Say on Pay” Result | 38 | ||
Compensation Discussion and Analysis | 39 | ||
Executive Summary | 39 | ||
2025 Executive Compensation Program in Detail | 44 | ||
2025 Executive Compensation Decisions | 44 | ||
2022 CEO Performance-Based Leadership Equity Incentive Award | 48 | ||
2026 Compensation Actions | 50 | ||
The Decision-Making Process | 50 | ||
Other Compensation Practices and Policies that Align Our NEOs to Our Stockholders | 51 | ||
Stock Ownership and Retention Policy | 51 | ||
Anti-Hedging and Anti-Pledging Policies | 52 | ||
Incentive Compensation Clawback Policy | 52 | ||
Equity Grant Policies | 52 | ||
Other Benefits | 52 | ||
Employment Agreements | 53 | ||
Severance and Change in Control Plan | 53 | ||
Risk Management and Mitigation of Compensation Policies and Practices | 53 | ||
Summary Compensation Table | 54 | ||
Grants of Plan-Based Awards in 2025 | 55 | ||
Narrative Disclosure to Summary Compensation Table and Grants of Plan-Based Awards in 2025 | 56 | ||
Summary of NEO Offer Letters and Employment Agreements | 56 | ||
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Outstanding Equity Awards at 2025 Fiscal Year End | 57 | ||
Option Exercises and Stock Vested in 2025 | 60 | ||
Non-Qualified Deferred Compensation – Fiscal 2025 | 60 | ||
Potential Payments to Named Executive Officers upon Termination of Employment or Change in Control | 61 | ||
Executive Change in Control and Severance Arrangements | 63 | ||
Treatment of Outstanding Equity Awards in the Event of Termination of Employment or Change in Control | 64 | ||
Director Compensation in Fiscal 2025 | 66 | ||
Description of Director Compensation | 66 | ||
Compensation Committee Interlocks and Insider Participation | 67 | ||
CEO Pay Ratio | 67 | ||
Pay vs. Performance (“PvP”) Disclosure | 68 | ||
Proposal Four | 71 | ||
The 2026 Plan Combines Compensation and Governance Best Practices | 72 | ||
Why We Believe You Should Vote to Approve the 2026 Plan | 72 | ||
Information on Equity Compensation Plans as of April 16, 2026 | 73 | ||
Background of Determination of Shares Under the 2026 Plan | 74 | ||
Stockholder Approval | 74 | ||
Material Terms of the 2026 Plan | 75 | ||
Material U.S. Federal Income Tax Consequences | 79 | ||
Section 409A of the Code | 80 | ||
New Plan Benefits | 80 | ||
Vote Required | 80 | ||
Board Recommendation | 80 | ||
Ownership of Securities | 81 | ||
Transactions with Related Persons | 83 | ||
Stockholder Proposals for the 2027 Annual Meeting | 84 | ||
Householding of Proxy Materials | 85 | ||
Other Business | 86 | ||
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Annex A: Forward-Looking Statements and Reconciliation of GAAP Measures to Non-GAAP Measures | A-1 | ||
Annex B: Ingersoll Rand Inc. 2026 Omnibus Incentive Plan | B-1 | ||
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1 | The election of ten director nominees listed herein (the “Director Election Proposal”). | ||||
2 | Ratification of the appointment of Deloitte & Touche LLP as our independent registered public accounting firm for 2026 (the “Ratification Proposal”). | ||||
3 | Approval, in a non-binding advisory vote, of the compensation paid to the named executive officers (the “Say on Pay Proposal”). | ||||
4 | Approval of the Ingersoll Rand Inc. 2026 Omnibus Incentive Plan (“2026 Omnibus Incentive Plan Proposal”) | ||||
• | Held directly in your name as “stockholder of record” (also referred to as “registered stockholder”); |
• | Held for you in an account with a broker, bank or other nominee (shares held in “street name”). Street name holders generally cannot vote their shares directly and instead must instruct the brokerage firm, bank or nominee how to vote their shares; and |
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• | “FOR” each of the nominees to the Board set forth in the Director Election Proposal. |
• | “FOR” the Ratification Proposal. |
• | “FOR” the Say on Pay Proposal. |
• | “FOR” the 2026 Omnibus Incentive Plan Proposal. |
• | Instructions on how to attend and participate via the Internet are posted at www.virtualshareholdermeeting.com/IR2026; |
• | Assistance with questions regarding how to attend and participate via the Internet will be provided at www.virtualshareholdermeeting.com/IR2026 on the day of the Annual Meeting; |
• | Technical support and assistance will be provided at www.virtualshareholdermeeting.com/IR2026 on the day of the Annual Meeting and during the Annual Meeting; |
• | Stockholders may vote and submit questions while attending the Annual Meeting via the Internet; and |
• | You will need your 16-Digit Control Number to enter the Annual Meeting. |
• | Providing stockholders with the ability to submit appropriate questions real-time via the meeting website, limiting questions to one per stockholder unless time otherwise permits; and |
• | Answering as many questions submitted in accordance with the meeting rules of conduct as possible in the time allotted for the meeting without discrimination. |
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![]() | By Internet If you have Internet access, you may submit your proxy by going to www.proxyvote.com and by following the instructions on how to complete an electronic proxy card. You will need the 16-Digit Control Number included on your Notice, or your proxy card (or voting instruction form) or notice of e-delivery in order to vote by Internet. | ![]() | By Telephone If you have access to a touch-tone telephone, you may submit your proxy by dialing 1-800-690-6903 and by following the recorded instructions. You will need the 16-Digit Control Number included on your Notice, or your proxy card (or voting instruction form), or e-delivery notice in order to vote by telephone. | ![]() | By Mail You may submit your proxy by mail by requesting a proxy card from us, indicating your vote by completing, signing and dating the card where indicated and by mailing or otherwise returning the card in the envelope that will be provided to you. You should sign your name exactly as it appears on the proxy card. If you are signing in a representative capacity (for example, as guardian, executor, trustee, custodian, attorney or officer of a corporation), indicate your name and title or capacity. | ||||||||||
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Name | Age | Position | ||||||
Vicente Reynal | 51 | Chief Executive Officer, President and Chairman of the Board of Directors | ||||||
William P. Donnelly | 64 | Independent Lead Director | ||||||
Jerome Guillen | 53 | Independent Director | ||||||
Jennifer Hartsock | 49 | Independent Director | ||||||
John Humphrey | 60 | Independent Director | ||||||
Marc E. Jones | 67 | Independent Director | ||||||
Aurobind Satpathy | 55 | Independent Director | ||||||
JoAnna L. Sohovich | 54 | Independent Director | ||||||
Mark P. Stevenson | 63 | Independent Director | ||||||
Michelle Swanenburg | 59 | Independent Director | ||||||
Your Board of Directors recommends that you vote “FOR” the election of each of the Director nominees named above. | ||
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![]() Vicente Reynal Years of Service: 10 Age: 51 | Vicente Reynal has served as our chief executive officer, president and member of our Board of Directors since January 2016. Mr. Reynal was appointed chairman of our Board of Directors in November 2021. Mr. Reynal is responsible for leading the Company and driving its overall growth and profitability as a global supplier of innovative and application-critical flow control products, services and solutions. Mr. Reynal joined Gardner Denver in May 2015 as the president of our Industrials segment. Before joining Gardner Denver, Mr. Reynal spent 11 years at Danaher Corporation, a designer and manufacturer of professional, medical, industrial and commercial products and services, where he served in a progression of senior leadership roles. Prior to joining Danaher, Mr. Reynal served in various operational and executive roles at Thermo Fisher Scientific and AlliedSignal Corp. (which merged with Honeywell, Inc. to become Honeywell International, Inc. in 1999). Mr. Reynal serves on the board of directors for American Airlines. In addition, Mr. Reynal serves on the board of Ownership Works and is an active advocate of broad-based shared ownership programs that make every employee an owner. Mr. Reynal holds a bachelor of science degree in Mechanical Engineering from Georgia Institute of Technology and master of science degrees in both mechanical engineering and technology & policy from Massachusetts Institute of Technology. | ||
Mr. Reynal has more than 25 years of experience in corporate strategy, new product development, general management processes and operations leadership with companies in the industrial, energy and life sciences industries. | |||
![]() William P. Donnelly Years of Service: 9 Age: 64 | William P. Donnelly has been a member of our Board of Directors since May 2017 and was appointed Lead Director in November 2021. Mr. Donnelly joined Mettler-Toledo International Inc. in 1997 and from 2014 until his retirement in December 2018, was its executive vice president responsible for finance, investor relations, supply chain and information technology. From 1997 to 2002 and from 2004 to 2014 Mr. Donnelly served as Mettler-Toledo’s chief financial officer. From 2002 to 2004, he served as division head of Mettler-Toledo’s product inspection and certain lab businesses. From 1993 to 1997, Mr. Donnelly served in various senior financial roles, including chief financial officer, of Elsag Bailey Process Automation, NV and prior to that, he was an auditor with PricewaterhouseCoopers LLP from 1983 to 1993. Mr. Donnelly currently serves as the Chairman of the board of directors of Quanterix Corporation and as a member of the board of directors of T. Rowe Price Group, Inc. Mr. Donnelly received a bachelor of science in business administration from John Carroll University. | ||
Mr. Donnelly has many years of experience with publicly held industrial and life science companies, including as chief financial officer and with leadership roles in strategy and operations and experience with respect to organic growth and product innovation. |
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![]() Jerome Guillen Years of Service: <1 Age: 53 | Jerome Guillen joined our Board of Directors in 2026. Mr. Guillen spent more than two decades in leadership positions in the automotive and transportation industries, most recently as a president at Tesla, Inc. At Tesla, he held functional leadership across engineering, sales, supply chain, and manufacturing, and played a key role in launching the Model S and Semi Truck programs, advancing production efficiency, automation, and sustainable technologies. Prior to Tesla, he held leadership roles at Daimler AG and McKinsey & Company, focusing on product development, innovation, and operations excellence. Currently, Guillen advises several technology organizations on innovative technologies: from an emerging startup on orchestration of models to one of the largest hyperscalers for data centers. He also is a member of the Board of Directors of Vale Base Metals. Mr. Guillen holds degrees in engineering from ENSTA (Ecole Nationale Supérieure de Techniques Avancees) and from ETSII (Escuela Técnica Superior de Ingenieros Industriales) and a Doctor of Engineering from the University of Michigan. | ||
Mr. Guillen’s experience of driving innovation and operational excellence supports our commitment to delivering sustainable organic growth and industry-leading solutions for our customers. | |||
![]() Jennifer Hartsock Years of Service: 3 Age: 49 | Jennifer Hartsock joined our Board of Directors in January 2023. Ms. Hartsock is an industry-recognized digital executive with international experience and proven success leading global technology organizations. She currently serves as the chief information and digital officer at Cargill, Inc., a privately held American corporation that provides products, services and insights to food, agriculture, financial and industrial customers in more than 125 countries. Ms. Hartsock manages the company’s global technology portfolio, which includes developing and executing technology, digital and data strategies to enable Cargill’s key growth priorities. Prior to joining Cargill, Ms. Hartsock served as chief information officer of Baker Hughes. While there, she also led the Digital Technology team that was responsible for delivering digital connectivity of devices and other technologies to enable connected customer solutions. Earlier in her career, she served as chief information officer at Cameron International and spent 17 years with Caterpillar Inc., during which she served as group chief information officer for its Construction Industries segment. Ms. Hartsock holds a bachelor’s degree in applied computer science from Illinois State University. | ||
Ms. Hartsock has significant experience and leadership in digital transformation, which closely aligns with our focus on expanding our product and service innovation in the areas of digitization and IIoT. In addition, her deep understanding of global manufacturing and broad industrial technology experience supports our expansion into sustainable end markets and growth through strategic acquisitions. |
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![]() John Humphrey Years of Service: 8 Age: 60 | John Humphrey has been a member of our Board of Directors since February 2018. In 2017, Mr. Humphrey retired from Roper Technologies, a company that designs and develops software and engineered products and solutions for healthcare, transportation, food, energy, water, education and other niche markets worldwide. At Roper, he served from 2011 to 2017, as executive vice president and chief financial officer, and from 2006 to 2011, as vice president and chief financial officer. Prior to joining Roper, Mr. Humphrey spent 12 years with Honeywell International, Inc. and its predecessor company, AlliedSignal, in a variety of financial leadership positions. Mr. Humphrey’s earlier career included six years with Detroit Diesel Corporation, a manufacturer of heavy-duty engines, in a variety of engineering and manufacturing management positions. He is a member of the board of directors of EnPro Industries, Inc. and O-I Glass, Inc. Mr. Humphrey received a bachelor of science degree in industrial engineering from Purdue University and a master of business administration from the University of Michigan. | ||
Mr. Humphrey has many years of experience at manufacturing companies and leading inorganic growth, including experience as the chief financial officer and board member of a publicly held company. His experience with respect to inorganic growth closely supports a pillar of our growth strategy. | |||
![]() Marc E. Jones Years of Service: 7 Age: 67 | Marc E. Jones has been a member of our Board of Directors since December 2018. He has served as the chairman, president and chief executive officer of Aeris Communications, Inc., a provider of machine to machine and Internet of Things communications services, since 2008, and as the chairman of Aeris since 2005. Mr. Jones also served as chairman of Visionael Corporation, a network service business software and service provider, from 2004 to 2009 and as president and chief executive officer of Visionael from 1998 to 2004. Prior to joining Visionael, Mr. Jones served as president and chief operating officer of Madge Networks, a supplier of networking hardware, from 1993 to 1997; senior vice president, Integrated System Products at Chips and Technologies, Inc., one of the first fabless semiconductor companies, from 1988 to 1992; and senior vice president, corporate finance at LF Rothschild Unterberg Towbin & Co., a merchant and investment banking firm, from 1986 to 1987. Mr. Jones currently serves on the board of trustees of Stanford University and as the chair of the board of Stanford Healthcare. In addition, he serves on the board of directors of CDW Corporation. Mr. Jones holds both a bachelor of arts in political science and a juris doctor from Stanford University. | ||
Mr. Jones has held senior leadership roles, including chief executive officer, at several technology companies and also has experience in senior financial leadership roles and a background in law. His technology background is invaluable as we harness the megatrend of digitization and its impact on our business. | |||
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![]() Aurobind Satpathy Years of Service: 1 Age: 55 | Aurobind Satpathy has been a member of our Board of Directors since July 2025. Mr. Satpathy currently serves as a senior partner at McKinsey & Company, a global management consulting firm. During his nearly 30-year career with McKinsey & Company, Mr. Satpathy led multi-billion-dollar mergers, guided companies through public-to-private transitions, and architected growth strategies that resulted in increases in market capitalization. In addition, Mr. Satpathy led global technology-enablement efforts within McKinsey’s Operations practice and held leadership roles across several offices, practices, and global committees. Mr. Satpathy serves as a member of the board of directors of Potter Global Technologies and the board of advisors of Brick, a digital health startup. He holds a BS in Engineering from the Indian Institute of Technology and a master of engineering from the University of Houston, as well as a master of business administration from Carnegie-Mellon University. | ||
Mr. Satpathy’s leadership in high-impact engagements across diverse industries demonstrates his deep expertise in aligning strategy with execution and supports the Company’s focus on unlocking value through bold, data-driven insights. | |||
![]() JoAnna L. Sohovich Years of Service: 3 Age: 54 | JoAnna L. Sohovich joined our Board of Directors in 2023. Ms. Sohovich is the Chair of the Board of Directors for Chamberlain Group, a role she assumed on January 1, 2022 after serving as the Chief Executive Officer of Chamberlain Group from February 2016 until December 31, 2021. Prior to that, from January 2015 to February 2016, she was the Global President, STANLEY Engineered Fastening at Stanley Black & Decker, Inc. where she led a global technology and manufactured goods business. Before being appointed to this position in 2015, she served as Global President, Industrial & Automotive Repair since 2012 and, prior to that, Industrial & Automotive Repair President – North America, Asia and Emerging Regions since 2011, both at Stanley Black & Decker, Inc. From 2001 to 2011, Ms. Sohovich served in several roles of increasing responsibility at Honeywell International, including President, Security & Communications from 2010 to 2011 emphasizing new product development and innovation, Vice President & General Manager, Commercial Building Controls from 2008 to 2010 leading growth initiatives across a broad commercial building controls portfolio, and Integration Leader from 2007 to 2008 resulting in Honeywell’s successful acquisition and integration of Maxon Corporation. Ms. Sohovich served as General Manager, Building Controls Field Devices from 2005 to 2007 and Vice President, Six Sigma for Honeywell from 2004 to 2005. Her earlier experience includes plant management, repair and overhaul shop management, quality management and service as an officer in the United States Navy. From 2014 until 2025, Ms. Sohovich also served on the Board of Directors of Barnes Group Inc. and as Chair of the Compensation and Management Development Committee and as a member of the Executive Committee of the Board of Directors for Barnes Group Inc. She received a bachelor of science in economics from the United States Naval Academy and a master of business administration from Santa Clara University. | ||
Ms. Sohovich has extensive executive management and leadership experience, broad knowledge of industrial manufacturers, and direct experience in driving digitally focused product innovation and strategic growth initiatives, which experience is relevant to our product and service innovation in the areas of digitization and IIoT. |
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![]() Mark P. Stevenson Years of Service: 4 Age: 63 | Mark P. Stevenson joined our Board of Directors in July 2022. Mr. Stevenson currently serves as senior advisor for General Atlantic, a leading global growth equity firm and as a senior partner at Flagship Pioneering, a life sciences venture capital company that invests in biotechnology, life sciences, health and sustainability companies. He is the former executive vice president and chief operating officer of Thermo Fisher Scientific Inc., a Fortune 100 company and world leader in serving science through its life science solutions, analytical instruments, specialty diagnostics and laboratory products and biopharma services. He held this role from 2017 until his retirement in 2022. He joined the company in 2014 as executive vice president and president of Life Sciences Solutions through the acquisition of Life Technologies. Mr. Stevenson previously served as president and chief operating officer of Life Technologies, and president and chief operating officer of Applied Biosystems prior to its merger with Invitrogen Corporation in 2008. He is a member of the board of directors of Qiagen N.V. He has a master of business administration from Henley Management College, United Kingdom, and a bachelor’s degree in chemistry from the University of Reading, United Kingdom. | ||
Mr. Stevenson’s experience in leading a growth compounder in sustainable end markets such as life sciences and medical aligns closely with our long-term strategy of expansion in high growth sustainable end markets. | |||
![]() Michelle Swanenburg Years of Service: 1 Age: 59 | Michelle Swanenburg joined our Board of Directors in April 2025. Ms. Swanenburg is the Head of Human Resources at T. Rowe Price (NASDAQ: TROW), a premier global asset management organization with total assets under management of $1.61 trillion as of December 31, 2025. She is a member of the firm’s Management Committee, the Strategic Operating Committee, the Enterprise Risk Management Committee, the Management Compensation and Development Committee, and the Corporate Strategy Committee. Prior to her current role, which commenced in December 2019, she served as the Head of Human Resources at Oaktree Capital Management for four years. Before joining Oaktree Capital Management, she began her career at T. Rowe Price, holding roles of increasing responsibility in human resources. She earned a bachelor's degree and a master’s degree in human resources development from Towson University. She currently serves as a board member for The Waterfront Partnership of Baltimore Inc. and is a member of the President’s Advisory Council at Stevenson University. | ||
Ms. Swanenburg’s experience in human resources, succession planning, talent acquisition, performance management, and compensation supports our Deploy Talent strategic imperative and the development of our corporate culture and leadership teams. | |||
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AUDIT COMMITTEE | COMPENSATION COMMITTEE | NOMINATING AND CORPORATE GOVERNANCE COMMITTEE | SUSTAINABILITY COMMITTEE | |||||||||||
William P. Donnelly | • | • | ||||||||||||
Jerome Guillen | • | • | ||||||||||||
Jennifer Hartsock | • | • | ||||||||||||
John Humphrey | • | • | ||||||||||||
Marc E. Jones | • | • | ||||||||||||
Aurobind Satpathy | • | • | ||||||||||||
JoAnna L. Sohovich | • | • | ||||||||||||
Mark P. Stevenson | • | • | ||||||||||||
Michelle Swanenburg | • | • | ||||||||||||
Number of meetings held in 2025 | 4 | 5 | 5 | 3 | ||||||||||
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• | overseeing the adequacy and integrity of our financial statements and our financial reporting disclosure practices; |
• | overseeing the soundness of our system of internal controls to assure compliance with financial and accounting requirements, our system of disclosure controls and procedures and compliance with ethical standards adopted by the Company; |
• | retaining and reviewing the qualifications, performance and independence of our independent auditor; |
• | overseeing our general risk management strategy including its technology security program and guidelines and policies relating to risk assessment and risk management, and management’s plan and execution of appropriate risk mitigation strategies which include risk monitoring and controls; |
• | overseeing our internal audit function; |
• | reviewing and approving or ratifying all transactions between us and any “Related Persons” (as defined in the federal securities laws and regulations) that are required to be disclosed to Item 404(a) of Regulation S-K promulgated under the Exchange Act; and |
• | reviewing and discussing with management compliance with our Code of Conduct. |
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• | establishing and reviewing the overall compensation philosophy of the Company; |
• | reviewing and approving corporate goals and objectives relevant to the Chief Executive Officer and other executive officers’ compensation, including annual performance objectives, if any; |
• | evaluating the performance of the Chief Executive Officer in light of these corporate goals and objectives and, either as a committee or together with the other independent directors (as directed by the Board), determining and approving the annual salary, bonus, equity-based incentives and other benefits, direct and indirect, of the Chief Executive Officer; |
• | reviewing and approving or making recommendations to the Board on the annual salary, bonus, equity and equity-based incentives and other benefits, direct and indirect, of the other executive officers; |
• | reviewing and approving, or making recommendations to the Board with respect to incentive-compensation plans and equity-based plans that are subject to the approval of the Board, and overseeing the activities of the individuals responsible for administering those plans; |
• | reviewing and approving equity compensation plans of the Company that are not otherwise subject to the approval of the Company’s stockholders; |
• | reviewing and making recommendations to the Board, or approving, all equity-based awards, including pursuant to the Company’s equity-based plans; |
• | monitoring compliance by executives with the rules and guidelines of the Company’s equity-based plans; and |
• | overseeing management evaluation and overseeing and approving the management continuity planning process. |
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• | identifying and recommending nominees for election to the Board of Directors; |
• | reviewing the composition and size of the Board of Directors; |
• | overseeing an annual evaluation of the Board of Directors and each committee; |
• | regularly reviewing our corporate governance documents, including our Restated Certificate of Incorporation and Bylaws and Corporate Governance Guidelines; and |
• | recommending members of the Board of Directors to serve on committees of the Board. |
• | assessing current aspects of the Company’s environmental, health and safety policies and performance and making recommendations to the Board of Directors and the management of the Company; |
• | overseeing and advising the Board of Directors on the Company’s sustainability strategies and initiatives, including reviewing the overall sustainability strategy and progress towards achievement of other environmental targets and goals; |
• | reviewing and approving the Company’s annual sustainability report; |
• | overseeing and advising the Board of Directors on matters impacting corporate social responsibility; |
• | overseeing and advising the Board of Directors on the Company’s public policy management, philanthropic contributions and corporate reputation management; |
• | overseeing the Company’s policies on political contributions and annually reviewing the Company’s political contributions and lobbying expenses; and |
• | overseeing and advising the Board of Directors and management with respect to the Company’s belonging and engagement strategies, initiatives and goals. |
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1 | Employees must be fulltime and have one year of service to be eligible. Not available to employees who participate in the Company’s annual long-term equity program or where prohibited by local law or regulation or where such grant is required to be bargained for with an employee union unless such grant is agreed to as part of such bargaining. |
2 | Represents the value of all Ownership Works grants, Merger grants, and IPO grants at their respective grant dates through December 31, 2025. Increase calculated as the increase in value of all Ownership Works grants, Merger grants, and IPO grants from their respective grant date through December 31, 2025. Assumes all employees have held the grants as of December 31, 2025. |
3 | Details on Ingersoll Rand’s validated targets are available on the SBTi dashboard: https://sciencebasedtargets.org/companies-taking-action#dashboard. |
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• | Ranking #1 in North America and in the top 5% globally within the Machinery and Electrical Equipment industry on the 2025 S&P Global Corporate Sustainability Assessment. Ingersoll Rand was also included on the Dow Jones Best in Class Indices for the fourth consecutive year. |
• | Earning “A List” rating from CDP for our performance in environmental leadership for the third year in a row. The Company stands out among over 22,000 evaluated for its greenhouse gas reduction, sustainable product design, and climate management strategies. |
• | Identification as a 2026 ESG Leader from Morningstar Sustainalytics’ ESG Risk Ratings, for driving meaningful progress toward a more sustainable future. |
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![]() Matt Emmerich Years of Service: 3 Age: 50 | Since July 2023, as chief information officer (CIO), Matt Emmerich has led the overall strategy and execution of the company’s global technology footprint across technology operations, infrastructure, applications and information security. His leadership is critical to the company’s cyber risk management and innovation strategies. As a proven leader in information technology, Mr. Emmerich has extensive experience driving enterprise transformation, M&A integrations and building diverse, high-performing teams. In addition, he has leadership experience at scale in digital innovation, global market operations and cybersecurity. Prior to joining Ingersoll Rand in 2023, Mr. Emmerich held senior leadership roles at Polaris, including the CIO, vice president of Global Chief Digital & Information Services and vice president of Service. | ||
Mr. Emmerich received his master of business administration from St. Cloud State University and his bachelor’s degree from St. John’s University. | |||
![]() Elizabeth M. Hepding Years of Service: 5 Age: 48 | Since July 2021, Elizabeth Hepding has served as the senior vice president of corporate development. Prior to that, Ms. Hepding has had more than 20 years of experience in mergers and acquisitions and strategy, most recently as part of the team at PurposeBuilt Brands, Inc. (“PurposeBuilt Brands”) a portfolio of category-leading, efficacy-driven specialty cleaning and disinfection brands, where she served as vice president of corporate development and guided the company’s expansion through acquisitions. Prior to joining PurposeBuilt Brands in 2019, Ms. Hepding was senior vice president, strategy and corporate development at Essendant Inc., a leading national distributor of workplace items for six years, where she was responsible for all acquisitions, divestitures and partnerships, as well as enterprise strategy including transformational initiatives. Ms. Hepding began her career in investment banking, spending more than a decade in the industry, primarily at UBS Investment Bank where she held roles of increasing responsibility. Ms. Hepding currently serves as a member of the board of directors of TIC Solutions, Inc. | ||
Ms. Hepding received a master of business administration from the University of Chicago Booth School of Business and bachelor’s degree from Washington & Lee University. | |||
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![]() Kathleen M. Keene Years of Service: 6 Age: 52 | Kathleen Keene has served as our senior vice president and chief human resources officer since June 2021. Ms. Keene also has responsibility for the Company’s communications function. Ms. Keene joined Ingersoll-Rand plc in 2016 prior to the Merger as director of Human Resources (“HR”) for corporate functions and then led a global HR team supporting the company’s Fluid Management, Material Handling and Power Tools business units. Prior to her current role, Ms. Keene most recently served as the HR business partner for Ingersoll Rand’s global Precision and Science Technologies segment while also leading the North America region HR team. Prior to joining Ingersoll-Rand plc, Ms. Keene started her career with General Electric Company, a multinational conglomerate, and SABIC, a multinational chemical manufacturing company. | ||
Ms. Keene holds a bachelor’s degree in business administration and management from Pennsylvania State University. | |||
![]() Vikram Kini Years of Service: 15 Age: 45 | Vikram Kini has served as our senior vice president and chief financial officer since June 2020. He joined Gardner Denver as its director of Financial Planning and Analysis in 2011, has served as Gardner Denver’s vice president of Investor Relations since 2012, and has held other various finance leadership roles since 2012, including vice president of Financial Planning and Analysis and vice president of Finance, Industrials segment. Prior to joining Gardner Denver, Mr. Kini served in various financial roles with General Electric Company, a multinational conglomerate, and SABIC, a multinational chemical manufacturing company. He currently serves as a member of the board of directors of UL Solutions. | ||
Mr. Kini holds a bachelor’s degree in business administration from Boston University. | |||
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![]() Andrew Schiesl Years of Service: 13 Age: 54 | Since the completion of the Merger, Andrew Schiesl has served as the senior vice president, general counsel, chief compliance officer and secretary of the Company. He leads legal, compliance, and corporate governance, as well as the Company’s Environmental, Health and Safety (EHS) and sustainability efforts. Prior to this role, Mr. Schiesl served as vice president, general counsel, chief compliance officer and secretary at Gardner Denver since 2013, and was also responsible for leading human resources at Gardner Denver in addition to Gardner Denver’s legal, compliance, governance, communications, EHS, and risk management functions. Previously, Mr. Schiesl served as vice president and general counsel of Quad/Graphics, Inc., a commercial printing business, from 2003 until he joined Gardner Denver. He was also senior counsel at Harley-Davidson, Inc., after beginning his career practicing law with Foley & Lardner LLP in Milwaukee. | ||
Mr. Schiesl received a bachelor’s degree in political science and history from the University of Wisconsin-Milwaukee and a juris doctor from the University of Pennsylvania School of Law. He holds a master of business administration from the Kellogg School of Management at Northwestern University. | |||
![]() Michael A. Weatherred Years of Service: 8 Age: 64 | Since the completion of the Merger, Michael A. Weatherred has served as the senior vice president of the Company, leading Ingersoll Rand Execution Excellence (IRX). Since December 2023, he has also had responsibility for Demand Generation Excellence (DGX), and since June 2025, he has served as the executive leader of the Company’s Precision & Science Technologies segment. Prior to the Merger, Mr. Weatherred served as vice president of Execution Excellence at Gardner Denver. He joined Gardner Denver in May 2018 as vice president of Gardner Denver Operating Systems. Prior to joining Gardner Denver, Mr. Weatherred served as vice president of Growth in the Danaher Business System Office of Danaher Corporation from 2013 to May 2018. Before that, he spent 12 years at Danaher in its Dental and Product ID platforms in various general management, marketing and strategic account roles. Prior to joining Danaher in 2002, Mr. Weatherred spent time at Honeywell and Black & Decker in various sales, marketing and general management roles. | ||
Mr. Weatherred earned a bachelor of science in accounting from Pittsburg State University and a master of business administration from Loyola University. | |||
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For the Years Ended December 31, (in thousands) | ||||||||
2024 $ | 2025 $ | |||||||
Fees: | ||||||||
Audit fees(1) | 8,413 | 8,368 | ||||||
Audit Related fees(2) | 2,109 | 778 | ||||||
Tax fees(3) | 3,909 | 4,348 | ||||||
All other fees(4) | 120 | — | ||||||
Total | 14,551 | 13,494 | ||||||
1. | Audit fees include fees for the annual integrated audit, quarterly reviews, and non-U.S. statutory audits. |
2. | Audit related fees include fees primarily for business due diligence services related to various acquisitions. |
3. | Tax fees primarily consist of fees for tax advisory services related to acquisitions and restructurings, but also include fees for income tax, transfer pricing and other required tax filings in non-US jurisdictions. |
4. | All other fees in 2024 pertain to advice and recommendations related to the Company’s planned adoption of the EU Corporate Sustainability Reporting Directive (CSRD), including European Sustainability Reporting Standards (ESRS) disclosure gap assessment; data, processes and controls; and double materiality assessment. |
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Your Board of Directors recommends that you vote “FOR” the ratification of Deloitte & Touche LLP as our independent registered public accounting firm for 2026. | ||
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Your Board of Directors recommends that you vote “FOR” the approval of the compensation paid to our named executive officers. | ||
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Dear Fellow Stockholders: The Compensation Committee (the “Committee”) of the Board of Directors of Ingersoll Rand is responsible for overseeing the Company’s executive compensation program. Our role is to ensure that the Company’s compensation philosophy, program design, and pay outcomes effectively support the Company’s strategy, reinforce a strong pay-for-performance culture, and align the interests of our executives with those of our stockholders. The Committee’s overarching objective is to attract, motivate, and retain highly qualified executive talent capable of delivering sustained long-term value. In carrying out this objective, we focus on: • Pay-for-performance: A substantial portion of executive compensation is performance-based and “at risk,” with payouts dependent on the achievement of pre-established financial goals. • Long-term value creation: Compensation is designed to emphasize long-term incentives that align executive decision-making with stockholder value creation. • Market competitiveness: Target compensation levels are informed by competitive market data and our compensation philosophy, and tailored based on role scope, experience, performance, and internal pay alignment. • Strong governance: The program reflects corporate governance best practices and is reviewed regularly to ensure it remains appropriate as the Company’s strategy and external environment evolve. During the past year, the Committee reviewed the Company’s performance in light of its strategic priorities and operating environment. We considered financial and operational results, progress against long-term objectives, individual executive performance, and stockholder feedback. Based on this review, the Committee made compensation decisions it believes appropriately reflect performance and reinforce alignment with stockholder interests. The Committee values ongoing dialogue with our stockholders and considers stockholder perspectives an important input in the evolution of our executive compensation program. Feedback received through our stockholder engagement efforts and advisory say-on-pay vote continues to inform our approach and reinforces our commitment to transparency and responsiveness. At our 2025 Annual Meeting of Stockholders, 96% of votes were cast in favor of our “Say-on-Pay” resolution. We believe this strong support is a direct result of our commitment to a pay-for-performance philosophy as well as our stockholder engagement efforts, and emphasizes the importance of ongoing, proactive stockholder outreach. We would like to extend our sincere thanks to the stockholders with whom we spoke for their insights and support, and we look forward to continuing our open dialogue. We hope that after reviewing the following materials, you will vote in favor of our executive compensation program at our 2026 Annual Meeting of Stockholders. | ![]() Michelle Swanenburg Chair of the Compensation Committee | |||||
![]() Jennifer Hartsock Independent Director | ![]() Marc E. Jones Independent Director | |||||
![]() Mark Stevenson Independent Director | ![]() Jerome Guillen Independent Director | |||||
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1 | Adjusted EBITDA is a non-GAAP metric and represents net income before interest, taxes, depreciation, amortization and certain non-cash, non-recurring and other adjustment items. For a reconciliation of Adjusted EBITDA to Net Income, see Annex A to this Proxy Statement. Adjusted EBITDA margin represents Adjusted EBITDA as a percentage of revenue. |
2 | Adjusted EPS is defined as Adjusted Net Income Attributable to Ingersoll Rand Inc. divided by Adjusted Diluted Average Shares Outstanding. Adjusted Net Income Attributable to Ingersoll Rand Inc. is defined as net income including interest, depreciation and amortization of non-acquisition related intangible assets and excluding other items used to calculate Adjusted EBITDA and further adjusted for the tax effect of these exclusions less net income attributable to noncontrolling interest. For a reconciliation of Adjusted Net Income to Net Income, see Annex A to this Proxy Statement. |
3 | Free Cash Flow is a non-GAAP metric and represents cash flows from operating activities less capital expenditures. For a reconciliation of Free Cash Flow to cash flows from operating activities, see Annex A to this Proxy Statement. |
Period | Ingersoll Rand | Proxy Peer MEDIAN | S&P 500 | S&P 500 Industrials | ||||||||||
1 Year | -12% | 5% | 18% | 19% | ||||||||||
3 Year | 52% | 20% | 86% | 66% | ||||||||||
5 Year | 75% | 36% | 96% | 90% | ||||||||||
1. | Source: S&P CapitalIQ. |
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1 | Employees must be full time and have one year of service to be eligible. Not available to employees who participate in the Company’s annual long-term equity program or where prohibited by local law or regulation or where such grant is required to be bargained for with an employee union unless such grant is agreed to as part of such bargaining. |
2 | Represents the value of all Ownership Works grants, Merger grants, and IPO grants at their respective grant dates through December 31, 2025. Increase calculated as the increase in value of all Ownership Works grants, Merger grants, and IPO grants from their respective grant date through December 31, 2025. Assumes all employees have held the grants as of December 31, 2025. |
3 | As of February 11, 2026, the Company received a score of 82 out of 100 on the 2025 S&P Global Corporate Sustainability Assessment within the Machinery and Electrical Equipment industry. Receipt of an S&P Global ESG Score does not represent a sponsorship, endorsement or recommendation on the part of S&P Global to buy, sell or hold any security, and a decision to invest in any subject company should not be made based on the receipt of any such note. |
4 | As of December 2025, the Company received an ESG Risk Rating of 19.4 from Morningstar Sustainalytics, ranking it in the third percentile in the Industrial Machinery group, and fourth percentile in the overall machinery category. This risk rating is based on information and data developed by Sustainalytics and is |
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5 | World class is defined as the top quartile of manufacturing companies with >1,000 employees per U.S. Bureau of Labor Statistics (2021). |
6 | Adjusted EBITDA Margin is a non-GAAP metric and represents Adjusted EBITDA as a percentage of total revenue. For a reconciliation of Adjusted EBITDA Margin, see Annex A to this Proxy Statement. Comparison to 2020 is based on Supplemental Adjusted EBITDA Margin. |
7 | Estimated 2025 revenue at the time of close for the 16 acquisitions acquired in 2025 assuming a January 1, 2025 close date. |
8 | Calculated as the weighted average purchase multiple for business acquired in 2025. |
NAMED EXECUTIVE OFFICERS | TITLE | ||||
Vicente Reynal | Chairman, President and Chief Executive Officer (“CEO”) | ||||
Vikram Kini | Senior Vice President and Chief Financial Officer (“CFO”) | ||||
Michael Weatherred | Senior Vice President, Precision and Science Technologies (“PST”) Segment, and Demand Generation and Execution (“DGX”) | ||||
Andrew Schiesl | Senior Vice President, General Counsel (“GC”), Chief Compliance Officer (“CCO”) and Secretary | ||||
Kathleen Keene | Senior Vice President, Chief Human Resources Officer (“CHRO”) | ||||

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Element | Primary Objectives | ||||
Base Salary | Provides fixed compensation to mitigate inappropriate risk-taking to maximize variable pay and allow a reasonable standard of living relative to peers | ||||
Annual Cash Incentives | Significant component of executive compensation intended to provide pay differentiation for those that drive strong performance needed to meet challenging annual targets | ||||
Long-term Incentives | Most significant component of executive compensation; supports retention and engagement while directly aligning to stockholder value | ||||

WHAT WE DO | WHAT WE DON’T DO | ||||||||
![]() | Significant Portion of Pay Focused on Long-Term Value Creation | ![]() | No Guaranteed Bonuses | ||||||
![]() | 50% of Annual Long-Term Incentive Compensation in Performance-Vesting Equity Awards | ![]() | No Tax Gross-Ups in Connection with Change-in-Control Severance | ||||||
![]() | Incentive Plan Goals Aligned with Stockholder Interests | ![]() | No Executive Pensions | ||||||
![]() | Minimum one-year vesting on all equity awards | ![]() | No Fixed-Term Employment Agreements | ||||||
![]() | Market-Leading Stock Ownership and Retention Guidelines | ![]() | No Stock Option Repricing | ||||||
![]() | Capped Incentive Opportunities | ![]() | No Hedging or Pledging of Company Stock | ||||||
![]() | Mitigation of Risk Through Compensation Risk Assessments | ||||||||
![]() | Incentive Compensation Clawback Policy | ||||||||
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WHAT WE DO | WHAT WE DON’T DO | ||||||||
![]() | Independent Compensation Consultant | ||||||||
Name/Title | ANNUAL SALARY | 2025 MIP TARGET (AS OF 12/31/25) | LTI TARGET GRANT VALUE | TARGET TDC | |||||||||||||||||||
12/31/24 | 12/31/25 | % CHANGE | AS % OF SALARY | VALUE | |||||||||||||||||||
Vicente Reynal, Pres. & CEO | $1,144,000 | $1,200,000 | 5% | 150% | $1,800,000 | $10,500,000 | $13,500,000 | ||||||||||||||||
Vikram Kini, SVP & CFO | $655,000 | $670,000 | 2% | 85% | $569,500 | $3,000,000 | $4,239,500 | ||||||||||||||||
Michael Weatherred, SVP, PST Segment, and DGX | $496,000 | $600,000 | 21% | 85% | $510,000 | $2,300,000 | $3,410,000 | ||||||||||||||||
Andrew Schiesl, GC, CCO, & Secretary | $535,000 | $550,000 | 3% | 75% | $412,500 | $1,700,000 | $2,662,500 | ||||||||||||||||
Kathleen Keene, SVP, CHRO | $432,000 | $445,000 | 3% | 65% | $289,250 | $1,050,000 | $1,784,250 | ||||||||||||||||
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2025 MIP STRUCTURE PROGRAM PAYOUT FOR CORPORATE NEOS | ||||||||||||||||||||
CORPORATE METRICS | METRIC WEIGHTING | THRESHOLD 50% PAYOUT | TARGET 100% PAYOUT | MAXIMUM 200% PAYOUT | ACTUAL RESULT | CALCUALTED WEIGHTED PAYOUT | ||||||||||||||
Adjusted EPS | 75% | $3.11 | $3.46 | $3.80 | $3.29 | 56% | ||||||||||||||
Free Cash Flow | 25% | $1,220 | $1,356 | $1,492 | $1,221 | 13% | ||||||||||||||
Total Weighted Payout | 69% | |||||||||||||||||||
2025 MIP Structure Program Payout (Weatherred Corp. Position 45.75% of the year) | |||||||||||||||||||||||||||||
Segment | Metrics | Metric Weighting | segment Weighting | Threshold 50% Payout | Target 100% Payout | Maximum 200% Payout | Actual Result | Calculated Weighted Payout | Actual Prorated Payout(1) | ||||||||||||||||||||
Corporate | Adjusted EPS | 75% | 100% | $3.11 | $3.46 | $3.81 | $3.29 | 56% | 26% | ||||||||||||||||||||
Corporate | Free Cash Flow(2) | 25% | $1,220 | $1,356 | $1,492 | $1,220 | 13% | 6% | |||||||||||||||||||||
Corporate | Total Weighted Payout | 69% | 32% | ||||||||||||||||||||||||||
2025 MIP Structure Program Payout (Weatherred SVP, PST and DGX 54.25% of the year) | |||||||||||||||||||||||||||||
Segment | Metrics | Metric Weighting | segment Weighting | Threshold 50% Payout | Target 100% Payout | Maximum 200% Payout | Actual Result | Calculated Weighted Payout | Actual Prorated Payout | ||||||||||||||||||||
PST | Segment AEBITDA(2) | 75% | 50% | $447 | $497 | $546 | $471 | 28% | 15% | ||||||||||||||||||||
PST | BU Operating Cash Flow(2) | 25% | $464 | $516 | $568 | $422 | 0% | 0% | |||||||||||||||||||||
Corporate | Adjusted EPS | 75% | 50% | $3.11 | $3.46 | $3.81 | $3.29 | 28% | 15% | ||||||||||||||||||||
Corporate | FCF | 25% | $1,220 | $1,356 | $1,492 | $1,220 | 6% | 3% | |||||||||||||||||||||
PST & Corporate | Total Weighted Payout | 62% | 33% | ||||||||||||||||||||||||||
Total Prorated Payout (Corp and PST) | 65% | ||||||||||||||||||||||||||||
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ADJUSTED EPS (75%) | FREE CASH FLOW (25%) | |||||||||||||||||||||||||
NEO | TARGET MIP AMOUNT $ | 2025 % OF TGT ACHIEVED | WEIGHTED PAYOUT % | 2025 % OF TGT ACHIEVED | WEIGHTED PAYOUT % | CALC’D PAYOUT FACTOR | APPROVED PAYOUT FACTOR | 2025 MIP PAYOUT $ | ||||||||||||||||||
Vicente Reynal | $1,800,000 | 95% | 56% | 90% | 13% | 69% | 69% | $1,242,000 | ||||||||||||||||||
Vikram Kini | $569,500 | 95% | 56% | 90% | 13% | 69% | 69% | $392,955 | ||||||||||||||||||
Andrew Schiesl | $412,500 | 95% | 56% | 90% | 13% | 69% | 69% | $284,625 | ||||||||||||||||||
Kathleen Keene | $289,250 | 95% | 56% | 90% | 13% | 69% | 69% | $199,583 | ||||||||||||||||||
Segment Adjusted EBITDA | Segment Operating Cash Flow | Corp. Adjusted EPS | Corp. Free Cash Flow | |||||||||||||||||||||||||||||||||||
NEO | TARGET MIP $ | 2025 % OF TGT ACHIEVED | Weighted Payout % | 2025 % of TGT Achieved | Weighted Payout % | 2025 % of TGT Achieved | Weighted Payout % | 2025 % of TGT Achieved | Weighted Payout % | Calc’d Payout Factor | Approved Payout Factor | 2025 MIP Payout $ | ||||||||||||||||||||||||||
Michael Weatherred | $496,275 | 95% | 28% | 82% | 0% | 95% | 28% | 90% | 6% | 65% | 65% | $324,446 | ||||||||||||||||||||||||||
1. | Michael Weatherred’s bonus was pro-rated for time in each role and reflects a target bonus increase from 80% to 85% upon promotion. His bonus prior to promotion was based 100% on corporate performance, and following his promotion to SVP PST, and DGX, his bonus was based on corporate and segment performance as detailed in the MIP program structure table above. |
• | 50% in Performance Stock Units (PSUs). The PSUs have a 3-year performance period that runs from January 1, 2025 through December 31, 2027 (the “Performance Period”) with vesting based on Relative TSR vs. the S&P 500 Industrials as follows: |
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• | 25% in Time-Vesting Stock Options. Stock Options vest in equal, annual installments over a four-year period, and expire 10 years from the grant date. |
• | 25% in Time-Vesting Restricted Stock Units (RSUs). RSUs vest in equal, annual installments over a four-year period. |
NEO | PSUS (50%) $ | RSUS (25%) $ | STOCK OPTIONS (25%) $ | ||||||||
Vicente Reynal | 5,250,000 | 2,625,000 | 2,625,000 | ||||||||
Vikram Kini | 1,500,000 | 750,000 | 750,000 | ||||||||
Michael Weatherred | 1,150,000 | 575,000 | 575,000 | ||||||||
Andrew Schiesl | 850,000 | 425,000 | 425,000 | ||||||||
Kathleen Keene | 525,000 | 262,500 | 262,500 | ||||||||
1 | If prior to the end of the Performance Period, a company or entity that is in the S&P 500 Industrials on January 1, 2025 ceases to publicly report a share price for the security used to determine the stock price at the beginning of the Performance Period, and such company or entity has not become “Insolvent” (as defined in the applicable award agreement), such company or entity will be excluded from the ranking. In addition, if a company or entity that is in the S&P 500 Industrials on January 1, 2025, becomes Insolvent prior to the end of the Performance Period, then such company or entity will be treated as having a cumulative TSR of negative one hundred percent (- 100%). |
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FEATURES OF THE PERFORMANCE-BASED AWARD | DRIVES EXCEPTIONAL LONG-TERM STOCKHOLDER VALUE CREATION | ALIGNS INTERESTS WITH THOSE OF LONG-TERM STOCKHOLDERS | ENCOURAGES RETENTION | ||||||||
100% Performance-based Incentive | ![]() | ![]() | ![]() | ||||||||
5-year Performance Period | ![]() | ![]() | ![]() | ||||||||
Drives Robust Earnings Growth and Stockholder Value Creation | ![]() | ![]() | |||||||||
No Guaranteed Compensation | ![]() | ![]() | ![]() | ||||||||
Payout Aligned with Value Creation | ![]() | ![]() | |||||||||
Distinct and Discrete Metrics | ![]() | ||||||||||
5-year Cliff-Vesting Performance-Contingent Stock Option Grant Extends Retentive Value and Performance Period | ![]() | ![]() | ![]() | ||||||||
Change in Control (“CIC”) Provisions Protect Against Windfall Payouts and Require “Double Trigger” for Accelerated Vesting | ![]() | ![]() | |||||||||
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(i) Performance Stock Units (PSUs) that vest only if the Company achieves earnings growth objectives and robust stockholder value creation and Mr. Reynal remains employed for at least five years. PSUs would be earned and vested based upon the Company achieving earnings growth objectives (the “Adjusted EPS PSUs”) and robust stockholder value creation (the “TSR PSUs”). In the event that the threshold Adjusted EPS CAGR Goal (as described below) is not achieved during the five-year performance period, the Adjusted EPS PSUs will be automatically forfeited. Similarly, should the TSR Target Price (as defined below) not be achieved during the five-year performance period, the TSR PSUs will automatically be forfeited. The TSR Target Price was achieved on March 6, 2024. | (ii) Stock Options will be granted only with respect to fiscal years 2022 through 2026 if, and only if, the Company’s Adjusted EPS growth (determined using the same standard used for the Adjusted EPS PSUs) in any such fiscal year is at least 12%, with any stock options granted in the following fiscal year on the same date on which the Company grants its annual long-term incentive plan awards to its senior executives. a. To increase the incentive and retentive value, each grant of stock options will have an exercise price equal to the closing price of the Company’s common stock on the date of grant, and will cliff vest on the fifth anniversary of the grant date, subject to Mr. Reynal’s continued employment through such respective vesting date. b. If the Adjusted EPS goal is not achieved, no stock options would be granted for that fiscal year under this component of the award. | ||||||||||
a. Adjusted EPS PSUs: 75% of the PSUs (750,000 PSUs) are eligible to vest at the end of the 5-year period based on the level of compounded annual growth rate (“CAGR”) of the Company’s Adjusted EPS over the 5-year performance period beginning on January 1, 2022 and ending on December 31, 2026 (the “EPS Performance Period”) relative to the fiscal year 2021 Adjusted EPS baseline. | |||||||||||
Adj. EPS CAGR Goals | # of PSUs Eligible to Vest | ||||||||||
≥10% | 250,000 | ||||||||||
≥12% | 500,000 | ||||||||||
≥15% | 750,000 | ||||||||||
b. TSR PSUs: 25% of the PSUs (250,000) would be earned (but not vested) only if the TSR Target Price2 is achieved during the five-year period commencing on the date of grant (“TSR Performance Period”). If earned, the award vests at the end of TSR Performance Period only if Mr. Reynal has been continuously employed by the Company throughout the TSR Performance Period. The TSR Target Price was achieved on March 6, 2024. | |||||||||||
2 | The “TSR Target Price” of $81.85 is the absolute stock price equivalent to a five-year CAGR of 12% in the Company’s stock price from the Grant Date Stock Price to the end of the TSR Performance Period and is calculated as the sum of (i) the 60-day volume-weighted average closing price of the Company’s common stock, plus (ii) the cumulative value of any dividends paid during the TSR Performance Period through and including such date that equals or exceeds the TSR Target Price. The “Grant Date Stock Price” is $46.45, the 60-day volume weighted average closing price of the Company’s common stock immediately preceding the grant date. |
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NEO | TARGET # PSUS GRANTED IN 2023 | 2023-25 PSU PAYOUT FACTOR | # PSUS EARNED AT 2025YE (DISTRIBUTED IN 2026) | ||||||||
Vicente Reynal | 60,459 | 106.5% | 64,388 | ||||||||
Vikram Kini | 15,546 | 106.5% | 16,556 | ||||||||
Michael Weatherred | 8,637 | 106.5% | 9,198 | ||||||||
Andrew Schiesl | 9,932 | 106.5% | 10,577 | ||||||||
Kathleen Keene | 5,182 | 106.5% | 5,518 | ||||||||
• | The relative importance of each NEO’s role and responsibilities |
• | How the NEO has performed relative to these roles and responsibilities |
• | Compensation practices of Peer Group companies (as defined below) |
• | Overall company performance |
• | Retention and succession considerations |
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Agilent Technologies, Inc. | AMETEK, Inc. | Avantor, Inc. | ||||||
Becton, Dickinson and Company | Dover Corporation | Fortive Corporation | ||||||
IDEX Corporation | Illinois Tool Works Inc. | Mettler-Toledo International, Inc. | ||||||
Parker-Hannifin Corporation | Rockwell Automation, Inc. | TransDigm Group, Incorporated | ||||||
Xylem, Inc. | ||||||||
Covered Executives | Multiple of Salary | ||||
CEO | 10x Salary | ||||
CFO and GC, CCO, & Secretary | 5x Salary | ||||
CEO Direct Reports – SVPs | 3x Salary | ||||
CEO Direct Reports – VPs and Chief Accounting Officer | 2x Salary | ||||
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• | a 401(k) savings plan; |
• | medical, dental, vision, life and disability insurance coverage; and |
• | dependent care and healthcare flexible spending accounts. |
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Name And Principal Position | Year | Salary ($)(1) | Bonus ($) | Stock Awards ($)(2) | Option Awards ($)(2) | Non-Equity Incentive Plan Compensation ($)(3) | All Other Compensation ($)(4) | Total ($) | ||||||||||||||||||
Vicente Reynal Chairman, President and Chief Executive Officer | 2025 | 1,185,785 | — | 7,078,168 | 6,423,971 | 1,242,000 | 267,468 | 16,197,391 | ||||||||||||||||||
2024 | 1,144,000 | — | 7,392,406 | 6,094,979 | 1,716,000 | 372,697 | 16,720,080 | |||||||||||||||||||
2023 | 1,133,000 | — | 6,315,820 | 4,466,985 | 3,432,000 | 175,945 | 15,523,750 | |||||||||||||||||||
Vikram Kini SVP and Chief Financial Officer | 2025 | 666,192 | — | 2,022,346 | 749,967 | 392,955 | 88,250 | 3,919,710 | ||||||||||||||||||
2024 | 647,500 | — | 2,246,860 | 812,446 | 556,750 | 142,747 | 4,406,303 | |||||||||||||||||||
2023 | 600,000 | — | 1,624,013 | 449,980 | 1,062,500 | 68,599 | 3,805,091 | |||||||||||||||||||
Michael Weatherred SVP, Precision and Science Technologies (PST) Segment, and Demand Generation and Execution (DGX) | 2025 | 568,408 | — | 1,499,797 | 574,950 | 324,446 | 18,862 | 2,986,463 | ||||||||||||||||||
2024 | 496,000 | — | 1,434,083 | 624,967 | 372,000 | 31,368 | 2,958,418 | |||||||||||||||||||
2023 | 452,500 | — | 902,235 | 249,994 | 690,000 | 62,755 | 2,357,485 | |||||||||||||||||||
Andrew Schiesl SVP, General Counsel, Chief Compliance Officer and Secretary | 2025 | 546,192 | — | 1,069,877 | 424,974 | 284,625 | 66,397 | 2,392,065 | ||||||||||||||||||
2024 | 531,250 | — | 1,158,105 | 293,718 | 401,250 | 114,740 | 2,499,062 | |||||||||||||||||||
2023 | 515,000 | — | 1,037,546 | 287,488 | 780,000 | 70,318 | 2,690,353 | |||||||||||||||||||
Kathleen Keene SVP, Chief Human Resource Officer | 2025 | 441,700 | — | 707,678 | 262,469 | 199,583 | 49,104 | 1,660,534 | ||||||||||||||||||
2024 | 424,000 | — | 815,412 | 337,438 | 280,800 | 76,866 | 1,934,517 | |||||||||||||||||||
1. | Reflects the salary amounts earned by our NEOs in the years indicated. |
2. | Represents the aggregate grant date fair value of the awards computed in accordance with Financial Accounting Standards Board Accounting Standards Codification Topic 718, Compensation - Stock Compensation (“FASB ASC Topic 718”), using the assumptions discussed in Note 19: “Stock-Based Compensation Plans” of the consolidated financial statements included in our Annual Report on Form 10-K for the year ended December 31, 2025. For Mr. Reynal, the total Option Awards amount includes 100,000 stock options that were part of the terms of the 2022 Performance Based Award; however, since the options were actually granted in 2025, they are included in the year of grant. Without these options being included, his Total compensation for 2025 would be $12,398,391 |
3. | Amounts shown for 2025 reflect amounts earned under our 2025 MIP. |
4. | Amounts reported under All Other Compensation for 2025 reflect the following: |
Name | Matching Contributions ($)(a) | Company Paid Life Insurance Premiums ($) | Tax Preparation and Financial Planning Services ($) | Personal Use of Company Aircraft ($) | Other ($)(b) | Total Other Compensation ($) | ||||||||||||||
Vicente Reynal | 145,667 | 1,661 | 10,000 | 91,249 | 18,890 | 267,468 | ||||||||||||||
Vikram Kini | 75,014 | 951 | ― | — | 12,285 | 88,250 | ||||||||||||||
Michael Weatherred | 8,085 | 777 | 10,000 | — | ― | 18,862 | ||||||||||||||
Andrew Schiesl | 52,313 | 720 | 10,000 | — | 3,364 | 66,397 | ||||||||||||||
Kathleen Keene | 38,477 | 627 | 10,000 | — | ― | 49,104 | ||||||||||||||
a. | Reflects Company matching contributions in the tax-qualified 401(k) Plan and the non-tax-qualified Supplemental Contribution Plan. |
b. | Reflects Cybersecurity services required to be provided to Messrs. Reynal and Kini as part of the Company’s overall cyber security program and for Mr. Reynal and Mr. Schiesl reflects reimbursement of executive physical expenses not covered by insurance. |
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Name | Committee Approval Date | Grant Date | Estimated Possible Payouts Under Non-Equity Incentive Plan Awards(1) | Estimated Future Payouts Under Equity Incentive Plan Awards(2) | All Other Stock Awards: Number of Shares of Stock or Units(3) (#) | All Other Option Awards: Number of Securities Underlying Options(4) (#) | Exercise or Base Price of Option Awards ($) | Grant Date Fair Value of Stock and Option Awards ($)(5) | ||||||||||||||||||||||||||||||
Threshold ($) | Target ($) | Maximum ($) | Threshold (#) | Target (#) | Maximum (#) | |||||||||||||||||||||||||||||||||
Vicente Reynal | 225,000 | 1,800,000 | 3,600,000 | |||||||||||||||||||||||||||||||||||
2/10/25 | 2/26/25 | 31,489 | 62,979 | 125,958 | 4,453,245 | |||||||||||||||||||||||||||||||||
2/10/25 | 2/26/25 | 31,489 | 2,624,923 | |||||||||||||||||||||||||||||||||||
2/10/25 | 2/26/25 | 75,998 | 83.36 | 2,624,971 | ||||||||||||||||||||||||||||||||||
2/10/25 | 2/26/25 | 100,000 | 83.36 | 3,799,000 | ||||||||||||||||||||||||||||||||||
Vikram Kini | 71,188 | 569,500 | 1,139,000 | |||||||||||||||||||||||||||||||||||
2/10/25 | 2/26/25 | 8,997 | 17,994 | 35,988 | 1,272,356 | |||||||||||||||||||||||||||||||||
2/10/25 | 2/26/25 | 8,997 | 749,990 | |||||||||||||||||||||||||||||||||||
2/10/25 | 2/26/25 | 21,713 | 83.36 | 749,967 | ||||||||||||||||||||||||||||||||||
Michael Weatherred | 17,291 | 496,274 | 992,548 | |||||||||||||||||||||||||||||||||||
2/10/25 | 2/26/25 | 5,998 | 11,996 | 23,992 | 848,237 | |||||||||||||||||||||||||||||||||
2/10/25 | 2/26/25 | 5,998 | 499,993 | |||||||||||||||||||||||||||||||||||
2/10/25 | 2/26/25 | 14,475 | 83.36 | 499,967 | ||||||||||||||||||||||||||||||||||
6/12/25 | 8/6/25 | 980 | 1,961 | 3,922 | 76,616 | |||||||||||||||||||||||||||||||||
6/12/25 | 8/6/25 | 980 | 74,950 | |||||||||||||||||||||||||||||||||||
6/12/25 | 8/6/25 | 2,401 | 76.48 | 74,983 | ||||||||||||||||||||||||||||||||||
Andrew Schiesl | 51,563 | 412,500 | 825,000 | |||||||||||||||||||||||||||||||||||
2/10/25 | 2/26/25 | 3,748 | 7,497 | 14,994 | 530,113 | |||||||||||||||||||||||||||||||||
2/10/25 | 2/26/25 | 3,748 | 312,433 | |||||||||||||||||||||||||||||||||||
2/10/25 | 2/26/25 | 9,047 | 83.36 | 312,483 | ||||||||||||||||||||||||||||||||||
6/12/25 | 8/6/25 | 1,470 | 2,941 | 5,882 | 114,905 | |||||||||||||||||||||||||||||||||
6/12/25 | 8/6/25 | 1,470 | 112,426 | |||||||||||||||||||||||||||||||||||
6/12/25 | 8/6/25 | 3,602 | 76.48 | 112,490 | ||||||||||||||||||||||||||||||||||
Kathleen Keene | 36,156 | 289,250 | 578,500 | |||||||||||||||||||||||||||||||||||
2/10/25 | 2/26/25 | 3,148 | 6,297 | 12,594 | 445,261 | |||||||||||||||||||||||||||||||||
2/10/25 | 2/26/25 | 3,148 | 262,417 | |||||||||||||||||||||||||||||||||||
2/10/25 | 2/26/25 | 7,599 | 83.36 | 262,469 | ||||||||||||||||||||||||||||||||||
1. | Reflects the possible payouts of cash incentive compensation under the 2025 MIP. The actual amounts earned are described in the “Non-Equity Incentive Plan Compensation” column of the “Summary Compensation Table.” |
2. | Reflects performance stock units granted under our 2017 Plan. With respect to awards granted in 2025, the actual earned award may range from 0% to 200% based on performance over a three-year performance period ending December 31, 2027. Vesting conditions and other key terms of these awards are discussed in more detail above under “Compensation Discussion and Analysis—2025 Executive Compensation Program in Detail—Long-Term Equity Incentive Awards.” |
3. | Reflects RSUs granted under our 2017 Plan. Vesting conditions and other key terms of these awards are discussed in more detail above under “Compensation Discussion and Analysis—2025 Executive Compensation Program in Detail—Long-Term Equity Incentive Awards.” |
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4. | Reflects stock options granted under our 2017 Plan. Vesting conditions and other key terms of these awards are discussed in more detail above under “Compensation Discussion and Analysis—2025 Executive Compensation Program in Detail—Long-Term Equity Incentive Awards.” Mr. Reynal’s grant of 100,000 stock options represents stock options earned under the 2024 Special Performance Award upon achievement of the Adjusted EPS growth target for fiscal year 2024, but were granted to Mr. Reynal on February 26, 2025 upon the Compensation Committee’s certification of the achievement of such target. Such stock options are not part of his 2025 long-term incentive award. |
5. | Represents the grant date fair value of the awards computed in accordance with FASB ASC Topic 718, using the assumptions discussed in Note 16: “Stock-Based Compensation Plans” of the consolidated financial statements included in our Annual Report on Form 10-K for the year ended December 31, 2025. The stock options have an exercise price per share equal to the closing price of the Company’s common stock as reported on the NYSE on the date of grant. |
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Option Awards | Stock Awards | ||||||||||||||||||||||||||||
Name | Grant Date | Number of Securities Underlying Options (#) Exercisable(1) | Number of Securities Underlying Options (#) Unexercisable(2) | Option Exercise Price ($) | Option Expiration Date | Number of Shares of Stock That Have Not Vested (#)(3) | Market Value of Shares That Have Not Vested ($)(4) | Equity Incentive Plan Awards: Number of Unearned Units That Have Not Vested (#) | Market Value of Shares of Stock That Have Not Vested ($)(4) | ||||||||||||||||||||
Vicente Reynal | 5/10/16 | 496,746 | — | 10.61 | 5/10/26 | ||||||||||||||||||||||||
2/22/18 | 142,349 | — | 32.06 | 2/22/28 | |||||||||||||||||||||||||
2/21/19 | 220,142 | — | 27.05 | 2/21/29 | |||||||||||||||||||||||||
3/6/20 | 170,918 | — | 27.79 | 3/6/30 | |||||||||||||||||||||||||
2/23/21 | 93,107 | — | 45.58 | 2/23/31 | |||||||||||||||||||||||||
2/22/22 | 61,910 | 20,637 | 53.09 | 2/22/32 | 8,241 | 652,852 | |||||||||||||||||||||||
9/1/22 | 250,000(5) | 19,805,000 | |||||||||||||||||||||||||||
9/1/22 | 250,000(5) | 19,805,000 | |||||||||||||||||||||||||||
9/1/22 | 250,000(5) | 19,805,000 | |||||||||||||||||||||||||||
9/1/22 | 250,000(6) | 19,805,000 | |||||||||||||||||||||||||||
2/23/23 | 35,168 | 35,169 | 57.89 | 2/23/33 | 15,115 | 1,197,410 | 64,388(7) | 5,100,817 | |||||||||||||||||||||
2/23/23 | — | 100,000(10) | 57.89 | 2/23/33 | |||||||||||||||||||||||||
2/27/24 | 12,181 | 36,545 | 90.38 | 2/27/34 | 15,559 | 1,232,584 | 41,491(8) | 3,286,917 | |||||||||||||||||||||
2/27/24 | — | 100,000(10) | 90.38 | 2/27/34 | |||||||||||||||||||||||||
2/26/25 | — | 75,998 | 83.36 | 2/26/35 | 31,489 | 2,494,559 | 31,489(9) | 2,494,559 | |||||||||||||||||||||
2/26/25 | — | 100,000(10) | 83.36 | 2/26/35 | |||||||||||||||||||||||||
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Option Awards | Stock Awards | ||||||||||||||||||||||||||||
Name | Grant Date | Number of Securities Underlying Options (#) Exercisable(1) | Number of Securities Underlying Options (#) Unexercisable(2) | Option Exercise Price ($) | Option Expiration Date | Number of Shares of Stock That Have Not Vested (#)(3) | Market Value of Shares That Have Not Vested ($)(4) | Equity Incentive Plan Awards: Number of Unearned Units That Have Not Vested (#) | Market Value of Shares of Stock That Have Not Vested ($)(4) | ||||||||||||||||||||
Vikram Kini | 12/9/16 | 14,132 | — | 11.43 | 12/9/26 | ||||||||||||||||||||||||
2/22/18 | 14,235 | — | 32.06 | 2/22/28 | |||||||||||||||||||||||||
2/21/19 | 20,243 | — | 27.05 | 2/21/29 | |||||||||||||||||||||||||
3/6/20 | 10,204 | — | 27.79 | 3/6/30 | |||||||||||||||||||||||||
6/30/20 | 13,321 | — | 28.12 | 6/30/30 | |||||||||||||||||||||||||
2/23/21 | 15,286 | — | 45.58 | 2/23/31 | |||||||||||||||||||||||||
2/22/22 | 12,381 | 4,128 | 53.09 | 2/22/32 | 1,648 | 130,555 | |||||||||||||||||||||||
2/23/23 | 9,043 | 9,043 | 57.89 | 2/23/33 | 3,887 | 307,928 | 16,556(7) | 1,311,566 | |||||||||||||||||||||
2/27/24 | 3,167 | 9,501 | 90.38 | 2/27/34 | 4,045 | 320,445 | 10,787(8) | 854,546 | |||||||||||||||||||||
8/20/24 | 2,173 | 6,521 | 90.50 | 8/20/34 | 2,694 | 213,419 | |||||||||||||||||||||||
2/26/25 | — | 21,713 | 83.36 | 2/26/35 | 8,997 | 712,742 | 8,997(9) | 712,742 | |||||||||||||||||||||
Michael Weatherred | 5/14/18 | 9,800 | ― | 33.46 | 5/14/28 | ||||||||||||||||||||||||
2/21/19 | 17,713 | ― | 27.05 | 2/21/29 | |||||||||||||||||||||||||
3/6/20 | 17,857 | — | 27.79 | 3/6/30 | |||||||||||||||||||||||||
2/23/21 | 9,727 | — | 45.58 | 2/23/31 | |||||||||||||||||||||||||
2/22/22 | 7,517 | 2,506 | 53.09 | 2/22/32 | 1,001 | 79,299 | |||||||||||||||||||||||
2/23/23 | 5,024 | 5,024 | 57.89 | 2/23/33 | 2,159 | 171,036 | 9,198(7) | 728,666 | |||||||||||||||||||||
2/27/24 | 1,786 | 5,360 | 90.38 | 2/27/34 | 2,282 | 180,780 | 6,085(8) | 482,054 | |||||||||||||||||||||
8/20/24 | 2,340 | 7,023 | 90.50 | 8/20/34 | 2,901 | 229,817 | |||||||||||||||||||||||
2/26/25 | — | 14,475 | 83.36 | 2/26/35 | 5,998 | 475,162 | 5,998(9) | 475,162 | |||||||||||||||||||||
8/6/25 | — | 2,401 | 76.48 | 8/6/35 | 980 | 77,636 | 980(9) | 77,636 | |||||||||||||||||||||
Andrew Schiesl | 2/23/21 | 13,201 | ― | 45.58 | 2/23/31 | ||||||||||||||||||||||||
2/22/22 | 9,728 | 3,243 | 53.09 | 2/22/32 | 1,295 | 102,590 | |||||||||||||||||||||||
2/23/23 | 5,777 | 5,778 | 57.89 | 2/23/33 | 2,483 | 196,703 | 10,577(7) | 837,910 | |||||||||||||||||||||
2/27/24 | 1,908 | 5,725 | 90.38 | 2/27/34 | 2,438 | 193,138 | 6,500(8) | 514,930 | |||||||||||||||||||||
2/26/25 | ― | 9,047 | 83.36 | 2/26/35 | 3,748 | 296,917 | 3,748(9) | 296,917 | |||||||||||||||||||||
8/6/25 | ― | 3,602 | 76.48 | 8/6/35 | 1,470 | 116,453 | 1,470(9) | 116,453 | |||||||||||||||||||||
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Option Awards | Stock Awards | ||||||||||||||||||||||||||||
Name | Grant Date | Number of Securities Underlying Options (#) Exercisable(1) | Number of Securities Underlying Options (#) Unexercisable(2) | Option Exercise Price ($) | Option Expiration Date | Number of Shares of Stock That Have Not Vested (#)(3) | Market Value of Shares That Have Not Vested ($)(4) | Equity Incentive Plan Awards: Number of Unearned Units That Have Not Vested (#) | Market Value of Shares of Stock That Have Not Vested ($)(4) | ||||||||||||||||||||
Kathleen Keene | 3/25/20 | 2,599 | ― | 23.28 | 3/25/30 | ||||||||||||||||||||||||
2/23/21 | 1,945 | ― | 45.58 | 2/23/31 | |||||||||||||||||||||||||
8/9/21 | 5,921 | ― | 49.52 | 8/9/31 | |||||||||||||||||||||||||
2/22/22 | 3,979 | 1,327 | 53.09 | 2/22/32 | 530 | 41,987 | |||||||||||||||||||||||
2/23/23 | 3,014 | 3,014 | 57.89 | 2/23/33 | 1,296 | 102,669 | 5,518(7) | 437,136 | |||||||||||||||||||||
2/27/24 | 1,055 | 3,167 | 90.38 | 2/27/34 | 1,348 | 106,789 | 3,595(8) | 284,796 | |||||||||||||||||||||
8/20/24 | 1,170 | 3,511 | 90.50 | 8/20/34 | 1,450 | 114,869 | |||||||||||||||||||||||
2/26/25 | ― | 7,599 | 83.36 | 2/26/35 | 3,148 | 249,385 | 3,148(9) | 249,385 | |||||||||||||||||||||
1. | Reflects vested and exercisable Time Options and Performance Options granted pursuant to the 2013 Stock Incentive Plan for Key Employees of Gardner Denver Holdings, Inc. (the “2013 Plan”) and 2017 Plan. |
2. | Reflects unvested stock options granted pursuant to our 2017 Plan. Unvested stock options granted to our NEOs vest in equal installments on each of the first four anniversaries of the grant date. |
3. | Reflects unvested RSUs granted pursuant to our 2017 Plan. RSUs granted to our NEOs vest in equal installments on the first four anniversaries of the grant date. |
4. | Values determined based on the December 31, 2025 closing price of the Company's common stock on the NYSE of $79.22. |
5. | Reflects PSUs that will vest, if at all, based on the Company’s achievement of certain adjusted EPS growth goals over the performance period beginning on January 1, 2022 and ending on December 31, 2026. |
6. | Reflects TSR PSUs that will vest, if at all, based on the Company’s achievement of an $81.85 60-day volume-weighted average closing price of the common stock over the performance period beginning on September 1, 2022 and ending on September 1, 2027. These TSR PSUs were granted to Mr. Reynal as part of the Performance-Based Award that vest only upon meeting certain performance criteria and Mr. Reynal remaining with the Company long-term. As described more fully in “Executive Summary—Performance-Based Leadership Equity Incentive Award,” the Performance-Based-Award is an extraordinary award for Mr. Reynal designed by the Compensation Committee to (i) drive the creation of long-term stockholder value, (ii) further strengthen the alignment of Mr. Reynal’s interests with those of long-term stockholders, and (iii) encourage the retention of Mr. Reynal for the five to ten years from grant date. The share price performance goal was achieved on March 6, 2024, but the TSR PSUs will not vest until September 1, 2027, generally subject to Mr. Reynal’s continued employment through such date, and as such, provide a significant retention incentive. See “Treatment of Outstanding Equity Awards in the Event of Termination of Employment or Change in Control” below for information regarding the treatment of the TSR PSUs upon Mr. Reynal’s death, disability or Qualifying Termination. |
7. | Represents the total number of PSUs earned under the 2023-2025 Performance Plan for the three-year performance period beginning on January 1, 2023 and ending on December 31, 2025, which vested on February 6, 2026. |
8. | Reflects PSUs that will vest, if at all, based on the Company’s achievement of the Relative TSR performance measure over the performance period beginning on January 1, 2024 and ending on December 31, 2026. As of December 31, 2025, the achievement level with respect to Relative TSR was between threshold and target. Accordingly, the number of PSUs reported in the table reflects the amount that would be earned for target performance. The actual number of shares that will vest with respect to the PSUs is not yet determinable. |
9. | Reflects PSUs that will vest, if at all, based on the Company’s achievement of the Relative TSR performance measure over the performance period beginning on January 1, 2025 and ending on December 31, 2027. As of December 31, 2025, the achievement level with respect to Relative TSR was around threshold. Accordingly, the number of PSUs reported in the table reflects the amount that would be earned for threshold performance. The actual number of shares that will vest with respect to the PSUs is not yet determinable. |
10. | For fiscal year 2022, the Company achieved adjusted EPS (as defined in the Performance-Based Award) growth of more than 12% over such adjusted EPS in 2021. As a result, in February 2023, the Compensation Committee certified that the first tranche of the CEO’s performance-conditioned stock options had been earned, and on February 23, 2023, Mr. Reynal was awarded stock options to purchase 100,000 shares. These stock options cliff-vest on February 23, 2028. For fiscal year 2023, the Company achieved adjusted EPS (as defined in the Performance-Based Award) growth of more than 12% over such adjusted EPS in 2022. As a result, in February 2024, Mr. Reynal was awarded stock options to purchase 100,000 shares. These stock options cliff-vest on February 27, 2029. For fiscal year 2024, the Company achieved adjusted EPS (as defined in the Performance-Based Award) growth of 12% over such adjusted EPS in 2022. As a result, in February 2025, Mr. Reynal was awarded stock options to purchase 100,000 shares. These stock options cliff-vest on February 26, 2030. |
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Name | Option Awards | Stock Awards | ||||||||||||
Number of Shares Acquired on Exercise (#) | Value Realized on Exercise ($)(1) | Number of Shares Acquired on Vesting (#) | Value Realized on Vesting ($)(2) | |||||||||||
Vicente Reynal | 38,657 | 2,799,621 | 162,020 | 14,675,749 | ||||||||||
Vikram Kini | 33,715 | 3,040,510 | ||||||||||||
Michael Weatherred | 20,776 | 1,869,720 | ||||||||||||
Andrew Schiesl | 25,370 | 2,298,624 | ||||||||||||
Kathleen Keene | 11,359 | 1,015,549 | ||||||||||||
1. | Value realized on exercise is based on the gain, if any, equal to the difference between the fair market value of the stock acquired upon exercise on the exercise date less the exercise price, multiplied by the number of options exercised. |
2. | The value realized on vesting is based on the closing price of our common stock on the NYSE on the vesting date. If vesting occurs on a day on which the NYSE is closed, the value realized on vesting is based on the closing price on the last trading day prior to the vesting date. |
NAME | Executive Contributions in Last Fy ($)(1) | Registrant Contributions in Last Fy ($)(2) | Aggregate Earnings In Last Fy ($)(3) | Aggregate Withdrawals/ Distributions ($) | Aggregate Balance at Last Fye ($)(4) | ||||||||||||
Vicente Reynal | $145,667 | $128,247 | (882,367) | — | $6,081,463 | ||||||||||||
Vikram Kini | $105,915 | $54,014 | (558,436) | — | $3,373,757 | ||||||||||||
Michael Weatherred | $0 | $0 | (79,282) | — | $444,939 | ||||||||||||
Andrew Schiesl | $207,704 | $45,821 | (199,314) | — | $1,659,610 | ||||||||||||
Kathleen Keene | $38,477 | $31,906 | (50,064) | — | $330,810 | ||||||||||||
1. | The amounts in this column are reported as compensation for fiscal 2025 in the “Base Salary” and “Non-Equity Incentive Plan Compensation” columns of the Summary Compensation Table. |
2. | Represents the amount of the matching contribution made by us in accordance with our Supplemental Contribution Plan. Matching contributions are reported for the year in which the compensation against which the applicable deferral election is applied has been earned (regardless of whether such matching contribution is actually credited to the NEO’s non-qualified deferred compensation account in that year or the following year). The amounts in this column are reported as compensation for fiscal 2025 in the “All Other Compensation” column of the Summary Compensation Table. |
3. | Amounts in this column are not reported as compensation for fiscal 2025 in the Summary Compensation Table since they do not reflect above-market or preferential earnings. |
4. | The amounts reported in this column include the following aggregate amounts for each of the following NEOs reported as compensation to such named executive officers for previous years in the “Base Salary,” “Non-Equity Incentive Plan Compensation” and “All Other Compensation” columns of the Summary Compensation Table: Mr. Reynal, $841,500 in fiscal 2016, $1,049,316 in fiscal 2017, $573,416 in fiscal 2018, $83,485 in fiscal 2019, $361,310 in fiscal 2020, $187,612 in fiscal 2021, $129,000 in fiscal 2022, $135,960 in fiscal 2023, and $345,840 in fiscal 2024; Mr. Kini, $207,607 in fiscal 2020, $286,810 in fiscal 2021, $275,434 in fiscal 2022, $403,687 in fiscal 2023, and $281,079 in fiscal 2024; Mr. Schiesl, $65,536 in 2016, $114,162 in fiscal 2017, $50,766 in fiscal 2018, $46,000 in fiscal 2019, $98,998 in fiscal 2020, $103,562 in fiscal 2021, $136,200 in fiscal 2022, $117,686 in fiscal 2023, and $139,235 in fiscal 2024; and Mr. Weatherred, $20,994 in fiscal 2019, $65,422 in fiscal 2020, $11,916 in fiscal 2021, $59,786 in fiscal 2022, $32,734 in fiscal 2023, and $0 in fiscal 2024. |
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TABLE OF CONTENTS
Name | Cash Severance Payment ($)(1) | Continuation of Group Health Coverage ($)(2) | Accrued But Unused Vacation ($)(3) | Value of Stock Awards and Stock Option Acceleration ($)(4) | Total ($) | ||||||||||||
Vicente Reynal | |||||||||||||||||
Qualifying Termination | 1,200,000 | 20,478 | — | 3,626,884(5) | 4,847,362 | ||||||||||||
Change in Control (“CIC”) | — | — | — | 88,130,192(6) | 88,130,192 | ||||||||||||
Qualifying Termination and CIC | 1,200,000 | 20,478 | — | 94,996,996(7) | 96,217,474 | ||||||||||||
Death/Disability | — | — | — | 85,281,771(8) | 85,281,771 | ||||||||||||
Vikram Kini | |||||||||||||||||
Qualifying Termination | 1,062,955 | 7,236 | — | 844,870(5) | 1,915,062 | ||||||||||||
Change in Control (“CIC”) | — | — | — | 1,747,385(6) | 1,747,385 | ||||||||||||
Qualifying Termination and CIC | 1,574,500 | 7,236 | — | 3,733,196(7) | 5,314,932 | ||||||||||||
Death/Disability | — | — | — | 1,451,422(8) | 1,451,422 | ||||||||||||
Michael Weatherred | |||||||||||||||||
Qualifying Termination | 924,446 | 14,748 | — | 560,536(5) | 1,499,730 | ||||||||||||
Change in Control (“CIC”) | — | — | — | 974,545(6) | 974,545 | ||||||||||||
Qualifying Termination and CIC | 1,396,274 | 14,748 | — | 2,367,437(7) | 3,788,459 | ||||||||||||
Death/Disability | — | — | — | 976,371(8) | 976,371 | ||||||||||||
Andrew Schiesl | |||||||||||||||||
Qualifying Termination | 834,625 | 20,478 | — | 517,439(5) | 1,372,542 | ||||||||||||
Change in Control (“CIC”) | — | — | — | 1,100,570(6) | 1,100,570 | ||||||||||||
Qualifying Termination and CIC | 1,237,500 | 20,478 | — | 2,224,259(7) | 3,482,237 | ||||||||||||
Death/Disability | — | — | — | 847,630(8) | 847,630 | ||||||||||||
Kathleen Keene | |||||||||||||||||
Qualifying Termination | 644,583 | 7,533 | — | 296,319(5) | 948,435 | ||||||||||||
Change in Control (“CIC”) | — | — | — | 582,448(6) | 582,448 | ||||||||||||
Qualifying Termination and CIC | 956,750 | 7,533 | — | 924,039(7) | 1,888,323 | ||||||||||||
Death/Disability | — | — | — | 515,977(8) | 515,977 | ||||||||||||
1. | For all NEOs other than Mr. Reynal, cash severance payment includes continued payment in substantially equal monthly installments over a 12-month period (18 months if qualifying termination occurs at any time during the period starting six months prior to and ending two years following a change in control) of the executive’s annual base salary and a prorated bonus based on actual year end achievement upon qualifying termination and a prorated bonus based on target upon qualifying termination and CIC. For Mr. Reynal, the cash severance payment includes continued payment in substantially equal monthly installments over a 12-month period. |
2. | For all NEOs other than Mr. Reynal;, reflects a lump sum cash payment (calculated on a taxed grossed up basis) equal to the cost of providing continued group health coverage (on the same basis as actively employed employees of the Company) for a 12-month period (18 months if qualifying termination occurs at any time during the period starting six months prior to and ending two years following a change in control). For Mr. Reynal, reflects the cost of providing continued group health coverage (on the same basis as actively employed employees of the Company), subject to the executive’s electing to receive benefits under the Consolidated Omnibus Budget Reconciliation Act of 1985 (“COBRA”), for a period of 12 months, assuming 2025 rates. |
3. | Amounts reported in this column reflect zero accrued but unused vacation days for each of our NEOs. |
4. | Amounts reported in this column have been determined based on the December 31, 2025 closing price of the Company’s common stock on the NYSE of $79.22. See “Treatment of Outstanding Equity Awards in the Event of Termination of Employment or Change in Control” below for a detailed summary of the treatment of the equity awards held by our NEOs in the event of termination of employment or change in control. |
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5. | With respect to the annual equity awards held by our NEOs, reflects the vesting of the outstanding RSUs and options that would have vested on the first vesting date otherwise scheduled to occur immediately following the date of termination, assuming a termination without Cause on December 31, 2025. For Mr. Reynal, also reflects the vesting of 100% of the Adjusted EPS PSUs based on the achievement of the Company’s Adjusted EPS for the last four complete fiscal quarters during the EPS Performance Period prior to the date of termination prorated based on the number of days Mr. Reynal was employed during the EPS Performance Period, in each case, assuming a termination of employment due to death or Disability on December 31, 2025. For Mr. Reynal, it also reflects the vesting of 100% of the TSR PSUs because the TSR Target Price has been achieved as of December 31, 2025 |
6. | With respect to the annual equity awards held by our NEOs, reflects the vesting of PSUs upon the consummation of a Change in Control on December 31, 2025, assuming that the last day of the Performance Period was the date of the Change in Control and the Company’s stock price at the end of the Performance Period was $79.22, the December 31, 2025 closing price of the Company’s common stock on the NYSE. For Mr. Reynal, also reflects the vesting of 100% of the Adjusted EPS PSUs upon the consummation of a Change in Control on December 31, 2025 based on the achievement of the Company’s Adjusted EPS for the last four complete fiscal quarters during the EPS Performance Period prior to such date and the vesting of 100% of Mr. Reynal’s outstanding performance-conditioned stock options, assuming that such stock options are not assumed in connection with the Change in Control. For Mr. Reynal, also reflects the vesting of 100% of the TSR PSUs because the TSR Target Price has been achieved as of December 31, 2025. |
7. | With respect to the annual equity awards held by our NEOs, reflects the vesting of 100% of the outstanding RSUs and options upon a termination without Cause and the consummation of a Change in Control on December 31, 2025 and the vesting of PSUs upon the consummation of a Change in Control on December 31, 2025, assuming that the last day of the Performance Period was the date of the Change in Control and the Company’s stock price at the end of the Performance Period was $79.22, the December 31, 2025 closing price of the Company’s common stock on the NYSE. For Mr. Reynal, also reflects the vesting of 100% of the Adjusted EPS PSUs, 100% of the TSR PSUs and 100% of the outstanding performance-conditioned stock options upon a termination without Cause and the consummation of a Change in Control on December 31, 2025. |
8. | With respect to the annual equity awards held by our NEOs, reflects the vesting of the outstanding RSUs and options that would have vested on the first and second vesting date otherwise scheduled to occur immediately following the date of termination, assuming a termination of employment due to death or Disability on December 31, 2025. For Mr. Reynal, also reflects the vesting of 100% of the Adjusted EPS PSUs based on the achievement of the Company’s Adjusted EPS for the last four complete fiscal quarters during the EPS Performance Period prior to the date of termination and the vesting of 20% of Mr. Reynal’s outstanding performance-conditioned stock options, in each case, assuming a termination of employment due to death or Disability on December 31, 2025. For Mr. Reynal, also reflects the vesting of 100% of the TSR PSUs because the TSR Target Price has been achieved as of December 31, 2025 |
• | Cash severance equal to 12-months (18 months if the qualifying termination occurs at any time during the period starting six months prior to and ending two years following a change in control) of their then-current base salary, payable in equal monthly installments over the Severance Period; and |
• | Prorated MIP (annual bonus) based on actual performance for the year; and |
• | A lump sum cash payment (calculated on a taxed grossed up basis) equal to the cost of providing continued group health coverage (on the same basis as actively employed employees of the Company) for a 12-month period (18 months if qualifying termination occurs at any time during the period starting six months prior to and ending two years following a change in control). Equity treatment remains governed by the terms of the respective equity award agreement |
• | Continued payment over a 12-month period (the “Severance Period”) of his then-current annual base salary, payable in substantially equal monthly installments over the Severance Period; and |
• | Continued group health coverage (on the same basis as actively employed employees of the Company), subject to Mr. Reynal electing to receive benefits under COBRA, for 12 months following the date his employment terminates (or, if earlier, through the date he becomes employed by another employer and eligible for health insurance coverage at such employer). |
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Name | Fees Earned or Paid In Cash ($) | Stock Awards ($)(1) | Total ($) | ||||||||
Kirk E. Arnold(2) | 61,875 | — | 61,875 | ||||||||
William P. Donnelly | 82,500 | 252,500 | 335,000 | ||||||||
Gary D. Forsee(3) | 61,875 | — | 61,875 | ||||||||
Jennifer Hartsock | 82,500 | 202,500 | 285,000 | ||||||||
John Humphrey | 82,500 | 217,500 | 300,000 | ||||||||
Marc E. Jones | 82,500 | 207,500 | 290,000 | ||||||||
Vicente Reynal | — | — | — | ||||||||
Aurobind Satpathy | 20,625 | 96,250 | 116,875 | ||||||||
Julie A. Schertell(4) | 61,875 | — | 61,875 | ||||||||
JoAnna L. Sohovich | 82,500 | 202,500 | 285,000 | ||||||||
Mark P. Stevenson | 82,500 | 192,500 | 275,000 | ||||||||
Michelle Swanenburg | 41,250 | 154,375 | 195,625 | ||||||||
1. | Represents the aggregate grant date fair value of stock awards granted during 2025 computed in accordance with FASB ASC Topic 718. The aggregate number of RSUs outstanding as of December 31, 2025 for each director was as follows: Mr. Donnelly: 3,029; Ms. Hartsock: 2,429; Mr. Humphrey: 2,609; Mr. Jones: 2,489; Mr. Stevenson: 2,309; Ms. Sohovich: 2,429; Ms. Swanenburg: 2,006; and Mr. Satpathy: 1,258. The RSUs of Mses. Sohovich and Hartsock and Messrs. Donnelly, Humphrey, Jones, and Stevenson vested in full on February 26, 2026. |
2. | Ms. Arnold retired from our Board of Directors as of June 2025 so was only paid cash fees for a portion of the year. In connection with her departure, she forfeited her 2,549 RSUs granted on February 26, 2025, which had a grant date fair value of $212,500. |
3. | Mr. Forsee retired from our Board of Directors as of June 2025 so was only paid cash fees for a portion of the year. In connection with his departure, he forfeited his 2,429 RSUs granted on February 26, 2025, which had a grant date fair value of $202,500. |
4. | Ms. Schertell retired from our Board of Directors as of March 2025 so was only paid cash fees for a portion of the year. In connection with her departure, she forfeited her 2,309 RSUs granted on February 26, 2025, which had a grant date fair value of $192,500. |
• | Annual cash retainer of $82,500, payable quarterly in arrears and prorated for any partial year of service; |
• | Annual equity award having a fair market value of $192,500, payable in RSUs, which vests on the anniversary of the grant date; |
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• | Additional annual equity award having a fair market value of $25,000, payable in RSUs, which vests on the anniversary of the grant date, for serving as the chairperson of our Audit Committee and an additional annual equity award having a fair market value of $10,000, payable in RSUs, which vests on the anniversary of the grant date, for serving as a member of such committee, prorated, in each case, for any partial year of service; |
• | Additional annual equity award having a fair market value of $20,000, payable in RSUs, which vests on the anniversary of the grant date, for serving as the chairperson of our Compensation Committee, prorated, in each case, for any partial year of service; |
• | Additional annual equity award having a fair market value of $15,000, payable in RSUs, which vests on the anniversary of the grant date, for serving as the chairperson of our Nominating and Corporate Governance Committee or our Sustainability Committee, prorated, in each case, for any partial year of service; and |
• | Additional annual equity award having a fair market value of $35,000, payable in RSUs, which vests on the anniversary of the grant date, for serving as our Lead Director. |
• | The median of the annual total compensation of all of our employees, excluding our CEO, was $75,422. |
• | The annual total compensation of our CEO was $16,197,391. |
• | The annual total compensation of the CEO would have been $12,398,391. |
• | The ratio of the annual total compensation of our CEO to the median of the annual total compensation of all of our employees except our CEO would have been 164:1. |
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YEAR | SUMMARY COMPENSATION TABLE TOTAL FOR CEO $ | COMPENSATION ACTUALLY PAID TO CEO(a)(b)(c) $ | AVERAGE SUMMARY COMPENSATION TABLE TOTAL FOR NON-CEO NEOS(d) $ | AVERAGE COMPENSATION ACTUALLY PAID TO NON-CEO NEOS(a)(b)(d) $ | YEAR-END VALUE OF $100 INVESTED ON 12/31/2020 | NET INCOME ($MM) $ | ADJUSTED DILUTED EPS(e) $ | |||||||||||||||||||
COMPANY TSR $ | S&P 500 INDUSTRIALS (TR) $ | |||||||||||||||||||||||||
2025 | ( | |||||||||||||||||||||||||
2024 | ||||||||||||||||||||||||||
2023 | ||||||||||||||||||||||||||
2022 | ||||||||||||||||||||||||||
2021 | ||||||||||||||||||||||||||
(a) | Deductions from, and additions to, total compensation in the Summary Compensation Table by year to calculate Compensation Actually Paid include: |
CEO | AVERAGE OTHER NEOS | |||||||||||||||||||||||||||||||
2025 $ | 2024 $ | 2023 $ | 2022 $ | 2021 $ | 2025 $ | 2024 $ | 2023 $ | 2022 $ | 2021 $ | |||||||||||||||||||||||
Summary Compensation Table (“SCT”) Total | ||||||||||||||||||||||||||||||||
Adjustments for Pension | ||||||||||||||||||||||||||||||||
Deduct: Change in Pension Value reported in SCT | ||||||||||||||||||||||||||||||||
Add: Amount added for current year service cost | n/a | n/a | n/a | n/a | n/a | n/a | n/a | n/a | n/a | n/a | ||||||||||||||||||||||
Add: Amount added for prior service cost impacting current year | n/a | n/a | n/a | n/a | n/a | n/a | n/a | n/a | n/a | n/a | ||||||||||||||||||||||
Total Adjustments for Pension | ||||||||||||||||||||||||||||||||
Adjustments for Equity Awards | ||||||||||||||||||||||||||||||||
Deduct: Grant date values in SCT | ( | ( | ( | ( | ( | ( | ( | ( | ( | ( | ||||||||||||||||||||||
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CEO | AVERAGE OTHER NEOS | |||||||||||||||||||||||||||||||
2025 $ | 2024 $ | 2023 $ | 2022 $ | 2021 $ | 2025 $ | 2024 $ | 2023 $ | 2022 $ | 2021 $ | |||||||||||||||||||||||
Add: Year-end fair value of unvested awards granted in the current year | ||||||||||||||||||||||||||||||||
Add: Year-over-year difference of year-end fair values for unvested awards granted in prior years | ( | ( | ( | ( | ||||||||||||||||||||||||||||
Add: Fair values at vest date for awards granted and vested in current year | ||||||||||||||||||||||||||||||||
Add: Difference in fair values between prior year-end fair values and vest date fair values for awards granted in prior years | ( | ( | ( | ( | ||||||||||||||||||||||||||||
Deduct: Forfeitures during current year equal to prior year-end fair value | ( | |||||||||||||||||||||||||||||||
Add: Dividends or dividend equivalents not otherwise included in total compensation | ||||||||||||||||||||||||||||||||
Total Adjustments for Equity Awards | ( | ( | ( | ( | ||||||||||||||||||||||||||||
Compensation Actually Paid | ( | |||||||||||||||||||||||||||||||
(b) | The following summarizes the valuation assumptions used for stock option awards included as part of Compensation Actually Paid: |
— | Expected life of each stock option is based on the “simplified method” using an average of the remaining vest and remaining term, as of the vest/FYE date. |
— | Strike price is based on each grant date closing price and asset price is based on each vest/FYE closing price. |
— | Risk free rate is based on the Treasury Constant Maturity rate closest to the remaining expected life as of the vest/FYE date. |
— | Historical volatility is based on daily price history for each expected life (years) prior to each vest/FYE date. Closing prices provided by S&P Capital IQ are adjusted for dividends and splits. |
— | Represents annual dividend yield on each vest/FYE date. |
(c) | CEO Compensation Actually Paid in 2022 would have been $ |
(d) | For the non-CEO NEOs, the amounts in the table reflect the average Summary Compensation Table total compensation and average Compensation Actually Paid for the following executives by year: |
(e) |
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Your Board of Directors recommends that you vote “FOR” the approval of the Ingersoll Rand Inc. 2026 Omnibus Incentive Plan. | ||
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• | Stockholder approval is required for additional shares. The 2026 Plan does not contain an annual “evergreen” provision. The 2026 Plan authorizes a fixed number of shares, so that stockholder approval is required to increase the maximum number of shares of our common stock which may be issued under the 2026 Plan. |
• | Minimum vesting requirement. The 2026 Plan mandates a vesting period of at least one-year for all equity-based awards granted under the 2026 Plan, which applies to no less than 95% of the shares authorized for grant (subject to certain limited exceptions set forth in the 2026 Plan). |
• | No discount stock options or stock appreciation rights. All stock options and stock appreciation rights will have an exercise price equal to or greater than the fair market value of our common stock on the date the stock option or stock appreciation right is granted. |
• | Repricing is not allowed. The 2026 Plan prohibits the repricing or other exchange of underwater stock options and stock appreciation rights for new awards or cash without prior stockholder approval. |
• | Limitations on dividend payments on unvested awards. Dividends and dividend equivalents may not be paid on awards subject to vesting conditions unless and until such conditions are met. In addition, dividend equivalents may not be granted on options or stock appreciation rights. |
• | No tax gross-ups. The 2026 Plan does not provide for any tax gross-ups. |
• | Annual Director Limit. The 2026 Plan provides that the sum of any cash compensation and the aggregate grant date fair value (determined as of the date of the grant under ASC Topic 718, or any successor thereto) of all awards granted to a non-employee director as compensation for services as a non-employee director with respect to any fiscal year, or director limit, may not exceed the amount equal to $750,000. |
• | Equity Incentive Awards Are an Important Part of Our Compensation Philosophy. We believe our future success depends on our ability to attract, motivate, and retain high quality talent, and that the ability to continue providing equity-based incentives is critical to achieving this success as we compete for talent in an industry in which equity compensation is both market practice and expected by existing personnel and prospective candidates. We believe that equity ownership by the vast majority of our employees has a direct correlation to increased employee engagement, |
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• | Our Culture of Ownership and Engagement. Our employees think and act like owners because they are. Through our Ownership Works program, every full-time employee receives equity after one year of service, whether they joined as a new hire or through an acquisition.1 This program reinforces each person’s stake in the company and recognizes the difference their work makes to our shared goals — aligning their interests with shareholders and fostering engagement, accountability, and innovation. In 2025, we granted equity to more than 3,600 employees. The Ownership Works program, now valued at approximately $1 billion since its inception,2 reinforces our belief that when employees think and act like owners, we all win. If we are unable to grant equity awards to our employees, we would adversely affect our culture of ownership and lose what we believe to be a competitive advantage. |
• | We Manage our Equity Incentive Award Use Carefully. We manage our long-term stockholder dilution and share usage by limiting the number of equity awards granted annually. Our Compensation Committee carefully monitors our equity share usage to ensure that we maximize stockholder value by granting only the appropriate number of equity awards necessary to attract, reward and retain employees, non-employee directors and consultants. |
Number of shares that are authorized for future grants (assuming “maximum” for all outstanding performance-based restricted stock unit awards) | 3,975,518 | ||||
Number of full-value awards outstanding (time- or performance-based restricted stock units, at “maximum” for all performance-based awards) | 2,306,325 | ||||
Number of stock options outstanding3 | 4,117,422 | ||||
Weighted average remaining term of outstanding options (in years) | 6.34 | ||||
Weighted average exercise price of outstanding options | $61.33 | ||||
1 | Employees must be full-time and have one year of service to be eligible. Not available to employees who participate in the Company’s management equity program or where prohibited by local law or regulation or where such grant is required to be bargained for with an employee union unless such grant is agreed to as part of such bargaining. |
2 | Represents the value of all Ownership Works grants, Merger grants, and IPO grants at their respective grant dates through December 31, 2025 calculated as the increase in value of all Ownership Works grants, Merger grants, and IPO grants from their respective grant date through December 31, 2025. Assumes all employees have held the grants as of December 31, 2025. |
3 | Includes stock options previously granted under the 2013 Plan, with a weighted average remaining term of 1.07 years and weighted average exercise price of $20.00. |
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• | In fiscal year 2025, we granted equity awards covering 1,343,265 shares of our common stock. On average, over the fiscal 2023 - 2025 period, we granted 1,278,297 shares annually. The amounts include performance-based restricted stock unit (“PSU”) awards based on the achievement of “target” performance goals. |
• | Our three-year average burn rate was approximately 0.3%, as shown in the following table: |
2023 | 2024 | 2025 | Three-Year Average | |||||||||||
Stock options granted | 762,274 | 610,222 | 700,005 | 690,833 | ||||||||||
Time-based restricted stock units (“RSUs”) granted | 450,618 | 432,853 | 491,351 | 458,274 | ||||||||||
PSUs granted (at “target”) | 148,423 | 87,236 | 151,909 | 131,804 | ||||||||||
PSUs vested(1) | 443,790 | 243,518 | 254,990 | 314,099 | ||||||||||
Total Shares Granted(2) | 1,361,315 | 1,130,311 | 1,343,265 | 1,278,297 | ||||||||||
Burn Rate(3) | 0.3% | 0.3% | 0.3% | 0.3% | ||||||||||
Weighted Average Shares Outstanding (Basic) | 404,754,715 | 403,384,408 | 398,131,863 | 402,090,329 | ||||||||||
(1) | Reflects PSUs that vested in the applicable year based on actual achievement of performance goals. The number of shares subject to PSU awards that were forfeited as of the end of fiscal years 2023, 2024 and 2025 was 85,600, 6,525, and 16,301, respectively. |
(2) | “Total Shares Granted” reflects the aggregate amount of options, RSUs and PSUs granted in the applicable year. PSUs assume performance at the “target” performance level. |
(3) | Burn Rate reflects the Total Shares Granted divided by Weighted Average Shares Outstanding in the applicable year. |
• | An additional metric that we use to measure the cumulative dilutive impact of our equity-based awards program is fully diluted overhang, which is the sum of: (1) the number of shares subject to equity awards outstanding but not exercised or settled and (2) the number of shares available to be granted under our equity compensation plans, divided by the sum of (A) the total shares of our common stock outstanding, (B) the number of shares of our common stock subject to equity awards outstanding but not exercised or settled, and (C) the number of shares of our common stock available for issuance under our 2017 Plan. Our approximate fully-diluted overhang as of December 31, 2025 was 3.0%. If the 2026 Plan had been approved as of such date, our approximate potential overhang would increase to 4.8% and then would decline over time. |
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• | the maximum aggregate number of shares that may be issued upon exercise of ISOs granted under the 2026 Plan is equal to the Absolute Share Limit; and |
• | the maximum number of shares granted during a single fiscal year to any non-employee director, taken together with any cash fees paid to such non-employee director during such fiscal year, may not exceed $750,000 in total value. |
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• | ISOs. A participant receiving ISOs should not recognize taxable income upon grant. Additionally, if applicable holding period requirements are met, a participant should not recognize taxable income at the time of exercise. However, the excess of the fair market value of the shares of our common stock received over the option exercise price is an item of tax preference income potentially subject to the alternative minimum tax. If stock acquired upon exercise of an ISO is held for a minimum of two years from the date of grant and one year from the date of exercise and otherwise satisfies the ISO requirements, the gain or loss (in an amount equal to the difference between the fair market value on the date of disposition and the exercise price) upon disposition of the stock will be treated as a long-term capital gain or loss, and we will not be entitled to any deduction. If the holding period requirements are not met, the ISO will be treated as one that does not meet the requirements of the Code for ISOs and a participant will recognize ordinary income at the time of the disposition equal to the excess of the amount realized over the exercise price, but not more than the excess of the fair market value of the shares on the date the ISO is exercised over the exercise price, with any remaining gain or loss being treated as capital gain or capital loss. We or our subsidiaries or affiliates generally are not entitled to a federal income tax deduction upon either the exercise of an ISO or upon disposition of the shares acquired pursuant to such exercise, except to the extent that a participant recognizes ordinary income on disposition of the shares. |
• | NQSOs. If an optionee is granted an NQSO under the 2026 Plan, the optionee should not have taxable income on the grant of the NQSO. Generally, the optionee should recognize ordinary income at the time of exercise in an amount equal to the fair market value of the shares acquired on the date of exercise, less the exercise price paid for the shares. The optionee’s basis in the common stock for purposes of determining gain or loss on a subsequent sale or disposition of such shares generally will be the fair market value of our common stock on the date the optionee exercises such NQSO. Any subsequent gain or loss will be taxable as a long-term or short-term capital gain or loss. We or our subsidiaries or affiliates generally should be entitled to a federal income tax deduction at the time and for the same amount as the optionee recognizes ordinary income. |
• | Other Awards. The current federal income tax consequences of other awards authorized under the 2026 Plan generally follow certain basic patterns: SARs are taxed and deductible in substantially the same manner as nonqualified stock options; nontransferable restricted stock subject to a substantial risk of forfeiture results in income recognition equal to the excess of the fair market value over the price paid, if any, only at the time the restrictions lapse (unless the recipient elects to accelerate recognition as of the date of grant through a Section 83(b) election); RSUs, dividend equivalents and other stock or cash based awards are generally subject to tax at the time of payment. We or our subsidiaries or affiliates generally should be entitled to a federal income tax deduction at the time and for the same amount as the optionee recognizes ordinary income. |
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Name of beneficial owner | Amount and Nature of Beneficial Ownership | Percent of Common Stock Outstanding | ||||||
Beneficial Owners of More than 5% | ||||||||
The Vanguard Group(1) | 45,383,585 | 11.6% | ||||||
Capital World Investors(2) | 32,118,760 | 8.2% | ||||||
BlackRock, Inc.(3) | 28,911,292 | 7.4% | ||||||
T. Rowe Price Investment Management, Inc.(4) | 21,791,309 | 5.6% | ||||||
Directors and Named Executive Officers: | ||||||||
Vicente Reynal(5)(6) | 1,260,013 | * | ||||||
Kathleen Keene(5) | 30,727 | * | ||||||
Vikram Kini(5) | 205,649 | * | ||||||
Andrew Schiesl(5) | 54,746 | * | ||||||
Michael A. Weatherred(5) | 149,919 | * | ||||||
William P. Donnelly(5) | 101,630 | * | ||||||
Jerome Guillen | — | — | ||||||
Jennifer Hartsock(5) | 7,864 | * | ||||||
John Humphrey | 26,592 | * | ||||||
Marc E. Jones | 26,401 | * | ||||||
Aurobind Satpathy | — | — | ||||||
JoAnna L. Sohovich | 5,427 | * | ||||||
Mark P. Stevenson | 11,706 | * | ||||||
Michelle Swanenburg | 1,876 | — | ||||||
All current directors and current executive officers as a group (16 persons)(5)(6) | 1,922,233 | * | ||||||
* | Less than 1 percent |
1. | Beneficial ownership information is based on information contained in the Schedule 13G/A filed on February 13, 2024 on behalf of The Vanguard Group. According to the schedule, included in the shares of our common stock listed above as beneficially owned by The Vanguard Group are 0 shares over which The Vanguard Group has sole voting power, 503,163 shares over which The Vanguard Group has shared voting power, 43,682,229 shares over which The Vanguard Group has sole dispositive power and 1,701,356 shares over which The Vanguard Group has shared dispositive power. According to the schedule, The Vanguard Group’s clients, including investment companies registered under the Investment Company Act of 1940 and other managed accounts, have the right to receive or the |
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2. | Beneficial ownership information is based on information contained in the Schedule 13G/A filed on November 13, 2025 by Capital World Investors, which reported sole voting power over 31,968,872 shares, shared voting power over 0 shares, sole dispositive power over 32,118,760 shares and shared dispositive power over 0 shares. The 13G/A reports that Capital World Investors (“CWI”) is a division of Capital Research and Management Company (“CRMC”), as well as its investment management subsidiaries and affiliates Capital Bank and Trust Company, Capital International, Inc., Capital International Limited, Capital International Sarl, Capital International K.K., Capital Group Private Client Services, Inc., and Capital Group Investment Management Private Limited (together with CRMC, the “investment management entities”). CWI's divisions of each of the investment management entities collectively provide investment management services under the name “Capital World Investors.” The principal business address of CWI is 333 South Hope Street, 55th Floor, Los Angeles, CA 90071. |
3. | Beneficial ownership information is based on information contained in the Schedule 13G/A filed on April 17, 2025 by BlackRock, Inc. in which BlackRock, Inc. reported that it has sole voting power over 26,075,287 shares, shared voting power over 0 shares, sole dispositive power over 28,911,292 shares and shared dispositive power over 0 shares. BlackRock, Inc. indicated the following subsidiaries in the schedule: BlackRock Life Limited, BlackRock Advisors, LLC, BlackRock France SAS, BlackRock (Netherlands) B.V., BlackRock Institutional Trust Company, National Association, BlackRock Asset Management Ireland Limited, BlackRock Financial Management, Inc., BlackRock Japan Co., Ltd., BlackRock Asset Management Schweiz AG, BlackRock Investment Management, LLC, BlackRock Investment Management (UK) Limited, BlackRock Asset Management Canada Limited, BlackRock (Luxembourg) S.A., BlackRock Investment Management (Australia) Limited, BlackRock Fund Advisors, BlackRock Advisors (UK) Limited, BlackRock Asset Management North Asia Limited, BlackRock (Singapore) Limited, and BlackRock Fund Managers Ltd. The principal business address of BlackRock, Inc. is 50 Hudson Yards, New York, NY 10001. |
4. | Beneficial ownership information is based on information contained in the Schedule 13G filed on February 17, 2026 by T. Rowe Price Investment Management, Inc., which reported sole voting power over 20,849,408 shares, shared voting power over 0 shares, sole dispositive power over 21,773,735 shares and shared dispositive power over 0 shares. The principal business address of T. Rowe Price Investment Management, Inc. is 1307 Point Street, Baltimore, MD 21231. |
5. | The number of shares reported includes 1,876 RSUs held by Ms. Swanenburg that are set to vest into shares of common stock within 60 days of April 16, 2026 and shares covered by options that are currently exercisable, as follows: Mr. Reynal, 805,177; Ms. Hepding, 15,007; Ms. Keene, 25,472; Mr. Kini, 103,062; Mr. Schiesl, 40,915; Mr. Weatherred, 82,187; Mr. Emmerich, 5,702; Mr. Donnelly, 44,799; all current directors and current executive officers as a group, 1,124,197. |
6. | The number of shares reported includes 75,000 shares held in a trust for the benefit of Mr. Reynal’s descendants, 147,802 shares held in a trust for the benefit of Mr. Reynal and his spouse and 22,500 shares held in a trust for the benefit of Mr. Reynal’s spouse and descendants. |
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• | management must disclose to the committee or disinterested directors, as applicable, the name of the related person and the basis on which the person is a related person, the material terms of the related person transaction, including the approximate dollar value of the amount involved in the transaction, and all the material facts as to the related person’s direct or indirect interest in, or relationship to, the related person transaction; |
• | management must advise the committee or disinterested directors, as applicable, as to whether the related person transaction complies with the terms of our agreements governing our material outstanding indebtedness that limit or restrict our ability to enter into a related person transaction; |
• | management must advise the committee or disinterested directors, as applicable, as to whether the related person transaction will be required to be disclosed in our applicable filings under the Securities Act or the Exchange Act, and related rules, and, to the extent required to be disclosed, management must ensure that the related person transaction is disclosed in accordance with such Acts and related rules; and |
• | management must advise the committee or disinterested directors, as applicable, as to whether the related person transaction constitutes a “personal loan” for purposes of Section 402 of the Sarbanes-Oxley Act of 2002. |
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For the Years Ended December 31, | |||||||||||||||||
2025 | 2024 | 2023 | 2022 | 2021 | |||||||||||||
Revenues | $7,650.9 | $7,235.0 | $6,876.1 | $5,916.3 | $5,152.4 | ||||||||||||
Adjusted EBITDA | $2,093.8 | $2,018.1 | $1,786.8 | $1,434.8 | $1,191.9 | ||||||||||||
Adjusted EBITDA Margin | 27.4% | 27.9% | 26.0% | 24.3% | 23.1% | ||||||||||||
Adjusted Diluted EPS | $3.34 | $3.29 | $2.96 | $2.36 | $2.09 | ||||||||||||
Free Cash Flow | $1,220.1 | $1,247.6 | $1,272.0 | $770.8 | $563.7 | ||||||||||||
Free Cash Flow Margin | 15.9% | 17.2% | 18.5% | 13.0% | 10.9% | ||||||||||||
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For the Years Ended December 31, | |||||||||||||||||
2025 | 2024 | 2023 | 2022 | 2021 | |||||||||||||
Net Income | $588.8 | $846.3 | $785.1 | $608.5 | $565.0 | ||||||||||||
Less: Income from discontinued operations | — | — | — | 0.5 | 121.0 | ||||||||||||
Less: Income tax benefit (provision) from discontinued operations | — | — | — | 14.7 | (79.4) | ||||||||||||
Income from Continuing Operations, Net of Tax | 588.8 | 846.3 | 785.1 | 593.3 | 523.4 | ||||||||||||
Plus: | |||||||||||||||||
Interest expense | 253.9 | 213.2 | 156.7 | 103.2 | 87.7 | ||||||||||||
Provision (benefit) for income taxes | 219.4 | 262.5 | 240.0 | 149.6 | (21.8) | ||||||||||||
Depreciation expense | 113.8 | 105.0 | 87.9 | 81.8 | 85.1 | ||||||||||||
Amortization expense | 387.5 | 373.0 | 367.5 | 347.6 | 332.9 | ||||||||||||
Impairment of intangible assets | 273.4 | 13.9 | — | — | — | ||||||||||||
Restructuring and related business transformation costs | 51.7 | 32.3 | 22.9 | 32.3 | 18.8 | ||||||||||||
Acquisition and other transaction related expenses and non-cash charges | 26.0 | 59.8 | 63.9 | 40.7 | 65.2 | ||||||||||||
Stock-based compensation | 53.0 | 58.8 | 51.9 | 85.6 | 95.9 | ||||||||||||
Foreign currency transaction losses (gains), net | 18.6 | 3.2 | 5.1 | (5.9) | (12.0) | ||||||||||||
Loss (income) on equity method investments | 127.1 | 24.0 | 6.0 | (0.7) | 11.4 | ||||||||||||
Loss on extinguishment of debt | — | 3.0 | 13.5 | 1.1 | 9.0 | ||||||||||||
Adjustments to LIFO inventories | 17.8 | 6.7 | 12.0 | 36.1 | 33.2 | ||||||||||||
Cybersecurity incident costs | (1.3) | 0.5 | 2.3 | — | — | ||||||||||||
Loss on asbestos sale | — | 58.8 | — | — | — | ||||||||||||
Gain on settlement of post-acquisition contingencies | — | — | — | (6.2) | (30.1) | ||||||||||||
Interest income on cash and cash equivalents | (30.0) | (43.3) | (28.8) | (8.0) | — | ||||||||||||
Other adjustments | (5.9) | 0.4 | 0.8 | (15.7) | (6.8) | ||||||||||||
Adjusted EBITDA | $2,093.8 | $2,018.1 | $1,786.8 | $1,434.8 | $1,191.9 | ||||||||||||
Minus: | |||||||||||||||||
Interest expense | 253.9 | 213.2 | 156.7 | 103.2 | 87.7 | ||||||||||||
Income tax provision, as adjusted | 397.9 | 385.2 | 345.2 | 267.3 | 120.7 | ||||||||||||
Depreciation expense | 113.8 | 105.0 | 87.9 | 81.8 | 85.1 | ||||||||||||
Amortization of non-acquisition related intangible assets | 10.1 | 8.7 | 10.0 | 18.8 | 17.0 | ||||||||||||
Interest income on cash and cash equivalents | (30.0) | (43.3) | (28.8) | (8.0) | — | ||||||||||||
Adjusted Net Income | $1,348.1 | $1,349.3 | $1,215.8 | $971.7 | $881.4 | ||||||||||||
Free Cash Flow: | |||||||||||||||||
Cash flows from operating activities from continuing operations | 1,355.7 | 1,396.7 | 1,377.4 | 865.4 | 627.8 | ||||||||||||
Minus: | |||||||||||||||||
Capital expenditures | 135.6 | 149.1 | 105.4 | 94.6 | 64.1 | ||||||||||||
Free Cash Flow | $1,220.1 | $1,247.6 | $1,272.0 | $770.8 | $563.7 | ||||||||||||
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For the Years Ended December 31, | |||||||||||
2025 | 2024 | 2023 | |||||||||
Net Income | $588.8 | $846.3 | $785.1 | ||||||||
Plus: | |||||||||||
Provision for income taxes | 219.4 | 262.5 | 240.0 | ||||||||
Amortization of acquisition related intangible assets | 377.4 | 364.3 | 357.5 | ||||||||
Impairment of intangible assets | 273.4 | 13.9 | — | ||||||||
Restructuring and related business transformation costs | 51.7 | 32.3 | 22.9 | ||||||||
Acquisition and other transaction related expenses and non-cash charges | 26.0 | 59.8 | 63.9 | ||||||||
Stock-based compensation | 53.0 | 58.8 | 51.9 | ||||||||
Foreign currency transaction losses (gains), net | 18.6 | 3.2 | 5.1 | ||||||||
Loss on equity method investments | 127.1 | 24.0 | 6.0 | ||||||||
Loss on extinguishment of debt | — | 3.0 | 13.5 | ||||||||
Adjustments to LIFO inventories | 17.8 | 6.7 | 12.0 | ||||||||
Cybersecurity incident costs | (1.3) | 0.5 | 2.3 | ||||||||
Loss on asbestos sale | — | 58.8 | — | ||||||||
Other adjustments | (5.9) | 0.4 | 0.8 | ||||||||
Minus: | |||||||||||
Income tax provision, as adjusted | 397.9 | 385.2 | 345.2 | ||||||||
Adjusted Net Income | 1,348.1 | 1,349.3 | 1,215.8 | ||||||||
Less: Net income attributable to noncontrolling interest | 7.4 | 7.7 | 6.4 | ||||||||
Adjusted Net Income Attributable to Ingersoll Rand Inc. | $1,340.7 | $1,341.6 | $1,209.4 | ||||||||
Adjusted Basic Earnings Per Share(1) | $3.37 | $3.33 | $2.99 | ||||||||
Adjusted Diluted Earnings Per Share(2) | $3.34 | $3.29 | $2.96 | ||||||||
Average shares outstanding: | |||||||||||
Basic, as reported | 398.1 | 403.4 | 404.8 | ||||||||
Diluted, as reported | 401.0 | 407.2 | 409.0 | ||||||||
Adjusted diluted(2) | 401.0 | 407.2 | 409.0 | ||||||||
1. | Basic and diluted earnings per share (as reported) are calculated by dividing net income attributable to Ingersoll Rand Inc. by the basic and diluted average shares outstanding for the respective periods. |
2. | Adjusted diluted share count and adjusted diluted earnings per share include incremental dilutive shares, using the treasury stock method, which are added to average shares outstanding. |
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For the Years Ended December 31, | ||||||||
2022 | 2021 | |||||||
Diluted Net Income Per Share (As Reported)(1) | $1.47 | $1.34 | ||||||
Less: Diluted Net Income Per Share from Discontinued Operations (As Reported)(1) | 0.04 | 0.10 | ||||||
Diluted Net Income Per Share from Continuing Operations (As Reported)(1) | 1.44 | 1.24 | ||||||
Plus: | ||||||||
Provision (benefit) for income taxes | 0.36 | (0.05) | ||||||
Amortization of acquisition related intangible assets | 0.80 | 0.75 | ||||||
Restructuring and related business transformation costs | 0.08 | 0.05 | ||||||
Acquisition related expenses and non-cash charges | 0.10 | 0.15 | ||||||
Stock-based compensation | 0.21 | 0.23 | ||||||
Foreign currency transaction gains, net | (0.01) | (0.03) | ||||||
Loss on equity method investments | — | 0.03 | ||||||
Loss on extinguishment of debt | — | 0.02 | ||||||
Adjustments to LIFO inventories | 0.09 | 0.08 | ||||||
Gain on settlement of post-acquisition contingencies | (0.02) | (0.07) | ||||||
Other adjustments | (0.04) | (0.02) | ||||||
Minus: | ||||||||
Income tax provision, as adjusted | 0.65 | 0.29 | ||||||
Adjusted Diluted Earnings Per Share(2) | $2.36 | $2.09 | ||||||
Average shares outstanding: | ||||||||
Basic, as reported | 405.3 | 414.8 | ||||||
Diluted, as reported | 410.2 | 421.2 | ||||||
Adjusted diluted(2) | 410.2 | 421.2 | ||||||
1. | Basic and diluted earnings per share (as reported) are calculated by dividing net income attributable to Ingersoll Rand Inc. by the basic and diluted average shares outstanding for the respective periods. |
2. | Adjusted diluted share count and adjusted diluted earnings per share include incremental dilutive shares, using the treasury stock method, which are added to average shares outstanding. |
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For the Year Ended December 31, 2020 | |||||
Cash Flow from Operating Activities from Continuing Operations | $653.5 | ||||
Plus: | |||||
Synergy delivery and stand-up related costs | 153.4 | ||||
Adjusted Cash Flow from Operating Activities | 806.9 | ||||
Minus: | |||||
Capital expenditures | 42.0 | ||||
Adjusted Free Cash Flow | $764.9 | ||||
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For the Year Ended December 31, 2020 | |||||
Ingersoll Rand | |||||
Supplemental Adjusted Revenue (non-GAAP) | $4,344.4 | ||||
Supplemental Adjusted EBITDA (non-GAAP) | $933.9 | ||||
Supplemental Adjusted EBITDA Margin (non-GAAP) | 21.5% | ||||
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For the Year Ended December 31, 2020 | |||||||||||
GAAP Revenue | Adjustments(1) | Supplemental Adjusted Revenue | |||||||||
Segment | |||||||||||
Industrial Technologies & Services | $3,248.2 | $291.8 | $3,540.0 | ||||||||
Precision & Science Technologies | 725.0 | 79.4 | 804.4 | ||||||||
Total Company | $3,973.2 | $371.2 | $4,344.4 | ||||||||
Adjusted EBITDA | Adjustments(1) | Supplemental Adjusted EBITDA | |||||||||
Segment | |||||||||||
Industrial Technologies & Services | $759.8 | $40.3 | $800.1 | ||||||||
Precision & Science Technologies | 220.2 | 20.4 | 240.6 | ||||||||
Total Segments | $980.0 | $60.7 | $1,040.7 | ||||||||
1. | For the year ended December 31, 2020, the “Adjustments” column represents the impact of two months (January and February of 2020) of standalone legacy Ingersoll Rand Industrial Segment activity. As it relates to adjustments to Segment Adjusted EBITDA,these amounts are impacted by the merged Company's corporate costs, a portion of which is allocated to the business segments. |
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For the Year Ended December 31, 2020 | |||||
Net Income (Loss) (GAAP) | $(32.4) | ||||
Less: Income from discontinued operations | 26.0 | ||||
Less: Income tax provision from discontinued operations | (1.6) | ||||
Income (loss) from continuing operations, net of tax | (56.8) | ||||
Plus(1): | |||||
Interest expense | 111.1 | ||||
Provision for income taxes | 11.4 | ||||
Depreciation expense | 75.3 | ||||
Amortization expense | 335.1 | ||||
Impairment of intangible assets | 19.9 | ||||
Restructuring and related business transformation costs | 88.0 | ||||
Acquisition related expenses and non-cash charges | 181.5 | ||||
Stock-based compensation | 47.0 | ||||
Foreign currency transaction losses, net | 18.6 | ||||
Loss on extinguishment of debt | 2.0 | ||||
Shareholder litigation settlement recoveries | — | ||||
Adjustments to LIFO inventories | 39.8 | ||||
Other adjustments | 5.2 | ||||
Adjusted EBITDA(1) | 878.1 | ||||
Additional Segment Adjusted EBITDA Adjustments(2): | |||||
Industrial Technologies & Services | $40.3 | ||||
Precision & Science Technologies | 20.4 | ||||
Incremental corporate expenses not allocated to segments | (4.9) | ||||
Supplemental Adjusted EBITDA | 933.9 | ||||
1. | These amounts are reported in accordance with US GAAP and have not been adjusted to reflect the pro forma impact of a full quarter of the combined Ingersoll Rand. |
2. | These “Additional Segment Adjusted EBITDA Adjustments” represent the impact of two months (January and February of 2020) of standalone legacy Ingersoll Rand Industrial Segment activity in the twelve month period ended December 31, 2020. The incremental corporate expenses not allocated to segments represent additional corporate expenses incurred by the Company to operate the combined Ingersoll Rand. |
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