Eaton Corporation plc
Compensation and Organization Committee Establishes 2024 Incentive Compensation Criteria
Summary
On February 28, 2024, the Compensation and Organization Committee of Eaton Corporation plc's Board of Directors established corporate performance criteria for 2024 incentive compensation awards under the Executive Incentive Compensation Plan. The criteria include specific Adjusted Earnings Per Share and Adjusted Operating Cash Flow metrics, with individual incentive targets for the Named Executive Officers ranging from 100% to 170%. The Committee also set performance criteria for the long-term Executive Strategic Incentive Program for the 2024-2026 award period, with target grants for the Named Executive Officers ranging from 4,190 to 24,930 performance share units.
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About Eaton Corporation plc
Eaton Corporation plc is a multinational power management company that specializes in providing energy-efficient solutions for a wide range of electrical, hydraulic, and mechanical applications. The company's primary purpose is to improve the quality, reliability, and safety of electrical, hydraulic, and mechanical power, addressing challenges related to efficient energy use and environmental impact. Eaton serves diverse sectors including aerospace, automotive, buildings, utilities, and machinery, with products ranging from circuit protection and lighting solutions to hydraulic motors and filtration systems. Eaton's influence in the market is significant owing to its commitment to innovation and sustainability, which allows industries across the board to optimize power usage and reduce energy costs. Headquartered in Dublin, Ireland, with significant operations in the United States, Eaton leverages a global network to serve customers across more than 175 countries. As industries continue to evolve towards more sustainable practices, Eaton plays a vital role in supporting the transition by providing advanced power management technologies that cater to both commercial and residential needs.
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