Ferguson Enterprises Inc DEF 14A, filed Mar 16, 2026

Ferguson Enterprises Inc. (FERG)

DEF 14A 2026-03-16 For: 2025-12-31

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Added on June 12, 2026

About this DEF 14A

Ferguson Enterprises Inc filed this DEF 14A on March 16, 2026.

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1	To elect each of the 11 Director nominees named in the Proxy Statement to hold office until the Company’s next annual meeting of stockholders and until such Director’s successor shall have been elected and qualified	FOR each Director nominee See page 6


2	To ratify the appointment of Deloitte & Touche LLP as the Company’s independent registered public accounting firm for fiscal 2026	FOR See page 29


3	To approve, on an advisory basis, the compensation of the Company’s Named Executive Officers for the five-month transition period from August 1, 2025 to December 31, 2025	FOR See page 32


Letter from the Board Chair


Notice of Annual Meeting


Proxy Statement for the 2026 Annual Meeting


Proxy Statement Summary		1



	Proposal 1: Election of Directors	6


Director Nominee Biographies		7
Director Nominee Skills and Experience		13
Corporate Governance		14


Corporate Governance Guidelines		14
Board Leadership		14
Board Evaluation		14
Board Refreshment and Tenure		15
Director Criteria and Nomination Process		15
Process for Selection of Directors		16
Director Onboarding and Education		16
Director Independence		16
Director Meeting Attendance		17
Board Committees and Oversight		18


Committees of the Board		18
Board Oversight		21
Code of Business Conduct and Ethics		23
Related Party Transactions		23
Director Compensation		26


Narrative to Non-Employee Director Compensation		27
Stock Ownership Guidelines for Non-Employee Directors		28


	Proposal 2: Ratification of Appointment of Independent Registered Public Accounting Firm	29


Independent Registered Public Accounting Firm’s Fees and Services		30


Audit Committee Report		31



	Proposal 3: Advisory Vote to Approve Executive Compensation (“s ay-on-p ay”)	32


Compensation Committee Report		33


Executive Compensation		34


Compensation Discussion and Analysis		34
Executive Summary		36
Compensation Determination Process		38
Elements of Our Compensation Program		41
Management of Compensation Related Risks		52
Severance and Change in Control Arrangements		54
Transition Period Summary Compensation Table		56
Transition Period Grants of Plan-Based Awards		58
Outstanding Equity Awards at t he End of the Transition Period		59
Transition Period Option Exercises and Stock Vested		61
Transition Period Non-Qualified Deferred Compensation		61
Potential Payments Upon Termination or a Change in Control		62
CEO Pay Ratio		65
Pay Versus Performance		66

Security Ownership of Certain Beneficial Owners and Management		70


Other Information		72


Communications with the Board		72
Process for Shareholder Recommendation and Nomination of Directors		72
Shareholder Proposals for 2027 Annual Meeting		72
Special Meetings		73
Householding		73
Questions and Answers About the 2026 Annual Meeting		74


Cautionary Note Regarding Forward-Looking Statements		81


Non-GAAP Reconciliations and Supplementary Information		83



Net sales $12.8 billion						Adjusted operating profit* $1.15 billion



Adjusted EPS – diluted* $4.01						Capital deployed** $0.9 billion



Sound and Effective Board Practices			•Active Board oversight of the Company’s strategy, enterprise risk management and sustainability framework and related public disclosures •Annual Board and Committee performance evaluations •Annual review of Board leadership structure •Formal policy limiting service on other public company boards of directors •Active board engagement in succession planning for CEO, CFO and other Executive Officers


Commitment to Refreshment and Independence			•Proactive Board and Committee refreshment with focus on optimal mix of backgrounds, skills, knowledge and experience •Four new independent Directors within the past five years •All Committees are composed solely of independent Directors •Independent Board Chair appointed by independent Directors


Commitment to Shareholder Rights			•Directors elected annually to serve one-year terms •Majority voting for Directors with Director resignation policy in an uncontested election and plurality voting for Directors in a contested election •Single class of outstanding voting stock •No supermajority voting provisions •Shareholders that own at least 10% of the total voting power of the outstanding shares of common stock of the Company have the right to request a special meeting


Strong Compensation Practices			•Robust annual risk assessment of executive compensation programs, policies and practices •Recommended annual say-on-pay vote •Comprehensive clawback policy that ensures incentive-based compensation is subject to clawback if there is a financial restatement or certain misconduct •Stock ownership guidelines for Non-Employee Directors and Executive Officers •Prohibition on hedging and pledging of Company shares



			Ian Graham Chief Legal Officer & Corporate Secretary March 16, 2026



			Ferguson is North America’s largest value-added distributor of essential water and air solutions, serving specialized professionals in our $340B residential and non-residential construction markets. We help make our customers’ complex projects simple, successful and sustainable by providing expertise and a wide range of products and services from plumbing, HVAC, appliances, and lighting to PVF, water and wastewater solutions, and more.



									The Board recommends that shareholders vote “FOR” each Director nominee.
			PROPOSAL 1:
			Election of Directors


Name			Position
Rekha Agrawal			Independent Director
Kelly Baker			Independent Director
Rick Beckwitt			Independent Director
Bill Brundage			Chief Financial Officer and Director
Geoff Drabble			Independent Board Chair
Cathy Halligan			Independent Director
Brian May			Independent Director
James S. Metcalf			Independent Director
Kevin Murphy			President & Chief Executive Officer and Director
Alan Murray			Independent Director
Suzanne Wood			Independent Director



									Ms. Agrawal was appointed as a Non-Employee Director in June 2024. Ms. Agrawal currently serves as the chief executive officer of KiddeFenwal, an industrial and commercial fire suppression systems and safety controls manufacturer. Previously, Ms. Agrawal served as operating partner at Morgan Stanley Infrastructure Partners Inc. (“Morgan Stanley”) from February 2021 to November 2024. In connection with her prior role at Morgan Stanley, Ms. Agrawal served on the boards of acquired companies across multiple industries, participating in oversight of policies and risk management in areas such as environmental, technology and cybersecurity and collaborating with CEOs on strategy and executive talent. Prior to this, Ms. Agrawal served as vice president and general manager of Fire Suppression Products at Johnson Controls International plc between 2017 and 2021, where she had profit and loss responsibilities of a $1.3 billion global business with a product portfolio sold in 70 countries and manufactured in 15 countries. From 2015 to 2017, Ms. Agrawal served as vice president and general manager of the Water and Mechanical Segment at Tyco Fire Protection Products, where she drove product strategy, was responsible for integrating acquisitions and oversaw teams across the sales, engineering, supply chain, manufacturing, human resources and finance groups.

REKHA AGRAWAL Independent Director Age: 55 Director since: June 2024 Board Committees: •Nominations & Governance


									Specific Skills and Qualifications •Extensive executive experience leading businesses focused both in services and manufacturing •Global experience beneficial to assessing risk across supply chain •Commitment to operational excellence Other Public Company Directorships •None



									Ms. Baker was appointed as a Non-Employee Director in May 2021. Ms. Baker currently serves as the executive vice president and chief human resources officer at Thrivent Financial for Lutherans, a Fortune 500 not-for-profit diversified financial services organization. Ms. Baker served as executive vice president and chief human resources officer of Pentair plc, a manufacturer of water products, from 2017 to 2021. Between 2016 and 2017, Ms. Baker served as executive vice president and chief human resources officer at Patterson Companies Inc., a value-added distributor serving dental and animal health markets. Ms. Baker spent over 20 years with General Mills Inc., the global food manufacturer, in a variety of roles, including vice president of human resources U.S. retail and marketing, vice president of human resources corporate groups and vice president of diversity and inclusion. Ms. Baker also has experience serving on a private company board of directors.

KELLY BAKER Independent Director Age: 56 Director since: May 2021 Board Committees: •Compensation (Chair)

									Specific Skills and Qualifications •Extensive human resources and operational experience •Wide-ranging international business and functional experience •Experience leading people, organizational and cultural developments across a number of U.S.-based, global public companies Other Public Company Directorships •None



									Mr. Beckwitt was appointed as a Non-Employee Director in June 2024. Mr. Beckwitt previously served as the co-chief executive officer and co-president of Lennar Corporation (“Lennar”) from November 2020 until his retirement in September 2023. He joined Lennar in March 2006 as an executive vice president, became president in April 2011 and was promoted to chief executive officer in April 2018. From 1993 to March 2000, he held various executive officer positions at D.R. Horton, including president of the company. From March 2000 to April 2003, Mr. Beckwitt was the owner and principal of EVP Capital, L.P., the general partner of D.R. Horton’s Encore Venture Partners, a venture capital company. From 1986 to 1993, Mr. Beckwitt worked in the mergers and acquisitions and corporate finance departments at Lehman Brothers.


									Specific Skills and Qualifications •Deep knowledge of the homebuilding and real estate industries gained through executive roles at public companies •Extensive leadership and operational experience, with broad insight into strategic planning and risk oversight Other Public Company Directorships •Member, Eagle Materials Inc. •Member, Weyerhaeuser Company Former Public Company Directorships •Member, Lennar Corporation (2018—2023) •Member, Five Point Holdings, LLC (2016—2020) •Member, D.R. Horton, Inc. (1993—2003)
RICK BECKWITT Independent Director Age: 66 Director since: June 2024 Board Committees: •Compensation



									Mr. Brundage was appointed as a Director and Chief Financial Officer in November 2020. Mr. Brundage has served as the chief financial officer of Ferguson Enterprises, LLC (“FEL”), the Company’s U.S. operating subsidiary, since 2017, and previously served at FEL as senior vice president of finance from 2016 to 2017 and vice president of finance from 2008 to 2016. Mr. Brundage joined Ferguson in 2003 as manager of finance and was promoted to corporate controller of FEL two years later. Previously, Mr. Brundage spent five years at PricewaterhouseCoopers in the U.S. As the Company’s CFO, Mr. Brundage brings his business acumen and deep industry knowledge to the Board in addition to providing invaluable insights into Ferguson’s opportunities and risks.


BILL BRUNDAGE Chief Financial Officer and Director Age: 49 Director since: Nov 2020 Board Committees: •None									Specific Skills and Qualifications •Extensive Company experience •Considerable financial management and operational experience •Significant knowledge of the Company’s industry Other Public Company Directorships •None



									Mr. Drabble was appointed as a Non-Employee Director in May 2019 and as Board Chair in November 2019. Mr. Drabble served as chief executive of Ashtead Group plc, a FTSE 100 international equipment rental company, from 2007 to 2019, during which he presided over a period of unprecedented growth in the business and was instrumental in creating a strong culture. He was previously an executive director of The Laird Group PLC, a former British-based electronics and technology business, where he was responsible for its Building Products division, and held a number of senior management positions at Black & Decker, the American manufacturer of power tools, accessories, hardware, home improvement products, home appliances and fastening systems.


GEOFF DRABBLE Independent Board Chair Age: 66 Director since: May 2019 Board Committees: •Compensation •Nominations & Governance									Specific Skills and Qualifications •Extensive leadership experience in the distribution, technology and manufacturing sectors as a chief executive officer •Deep knowledge of U.S. markets and operating conditions •Significant experience as a board member Other Public Company Directorships •Chair, Travis Perkins plc Former Public Company Directorships •Member (2020—2021) and Chair (2021—2025), DS Smith Plc •Member, Howden Joinery Group Plc (2015—2023) •Member, Ashtead Group plc (2005—2019) •Member, The Laird Group PLC (2000—2006)



									Ms. Halligan was appointed as a Non-Employee Director in January 2019. Between 2010 and 2012, Ms. Halligan was senior vice president sales and marketing of PowerReviews, a software as a service social commerce solution. Prior to that, she held senior executive marketing and e-commerce roles at Walmart, including chief marketing officer at Walmart.com from 2005 to 2010. Prior to Walmart, Ms. Halligan also held senior executive roles at various companies, including Blue Nile, Williams-Sonoma and Gymboree. Ms. Halligan also has experience serving on private company boards.


									Specific Skills and Qualifications •Extensive digital transformation, digital commerce, data analytics and marketing experience as a senior executive •Strong track record in the retail, e-commerce and multi-channel arenas •Significant experience as a board member Other Public Company Directorships •Member, Driven Brands Holdings, Inc. •Member, JELD-WEN Holding, Inc. •Member, Ulta Beauty, Inc. Former Public Company Directorships •Member, FLIR Systems, Inc. (2014—2021)

Cathy HALLIGAN Independent Director Age: 62 Director since: Jan 2019 Board Committees: •Audit •Compensation



Dear Fellow Shareholders,


2026 PROXY STATEMENT


			2026 PROXY STATEMENT



Table of Contents



									Mr. May was appointed as a Non-Employee Director in January 2021. Mr. May served as chief financial officer of Bunzl plc, the global distribution and services group, for 14 years until his retirement in late 2019. His career at Bunzl plc spanned 27 years, where he held a number of roles across the treasury and internal audit functions and was divisional finance director of Bunzl’s U.K., Europe and Australasia division for nine years. Prior to his career at Bunzl plc, he worked at KPMG. Mr. May also has experience serving on private company boards.


									Specific Skills and Qualifications •Extensive experience as a chief financial officer •Qualified chartered accountant with considerable financial and operational experience •Expertise in the Company’s industry Other Public Company Directorships •Member, Convatec Group Plc. Former Public Company Directorships •Member, United Utilities Group PLC (2012—2021) •Member, Bunzl plc (2006—2019)


BRIAN MAY Independent Director Age: 62 Director since: Jan 2021 Audit Committee Financial Expert Board Committees: •Audit •Nominations & Governance



									Mr. Metcalf was appointed as a Non-Employee Director in February 2023. Mr. Metcalf previously served as chairman and chief executive officer of Cornerstone Building Brands, Inc. (“Cornerstone”), a North American building products manufacturer, from 2019 until his retirement as chief executive officer in September 2021 and as chairman in March 2022. He joined Cornerstone in 2017 as a non-employee director when it was known as NCI Building Systems, Inc. Prior to joining Cornerstone, he held various roles at USG Corporation, a manufacturer of ceiling, floor, gypsum, roofing, sheathing and wall products. At the time of his retirement from USG in November 2016, Mr. Metcalf had served as its chairman since December 2011 and served as its chief executive officer and president since January 2011.


									Specific Skills and Qualifications •Extensive executive leadership experience in building products sector as a chief executive officer •Considerable U.S. public company board and industry expertise Other Public Company Directorships •Member, Gibraltar Industries, Inc. •Member, LKQ Corporation Former Public Company Directorships •Chair, Cornerstone Building Brands (2019—2022) •Member (2017—2018) and Chair (2018—2019), NCI Building Systems, Inc. •Member, Tenneco Inc. (2014—2022) •Chair, USG Corporation (2011—2016) •Member, Molex Inc. (2007— 2013)
JAMES S. METCALF Independent Director Age: 68 Director since: Feb 2023 Board Committees: •Compensation •Nominations & Governance



									Mr. Murphy was appointed as a Director in August 2017 and as Chief Executive Officer in November 2019. In connection with the corporate restructure in August 2024, Mr. Murphy’s title changed to President & Chief Executive Officer. Mr. Murphy has served as chief executive officer of Ferguson Enterprises, LLC (“FEL”), the Company’s U.S. operating subsidiary, since 2017. Prior to that, he was chief operating officer of FEL from 2007 to 2017. Mr. Murphy joined Ferguson in 1999 as an operations manager following Ferguson’s acquisition of his family’s business, Midwest Pipe and Supply, and went on to hold a number of leadership positions before his eventual appointment as the Company’s President & Chief Executive Officer. Since Mr. Murphy’s appointment to the Board in 2017, the business has generated strong, profitable growth and continued to take market share under his leadership.

KEVIN MURPHY President & Chief Executive Officer and Director Age: 56 Director since: Aug 2017 Board Committees: •None
									Specific Skills and Qualifications •Culture champion with strong executive leadership skills •Deep knowledge of the Company and the Company’s industry •Strategic operational expertise •Significant experience in strategic development and delivering operational performance improvements Other Public Company Directorships •Member, Pool Corporation



									Mr. Murray was appointed as a Non-Employee Director in January 2013. He served as Employee Engagement Director from March 2019 until December 2023, when the role was disbanded, and he served as Senior Independent Director from October 2013 until August 2022, when the role was transitioned to Chair of the Nominations & Governance Committee. From 2002 to 2007, Mr. Murray served as group chief executive of Hanson PLC, a British-based building materials company, where he had previously served as finance director and chief executive of Hanson Building Materials America from 1998 to 2002. From 2003 to 2025, Mr. Murray served as a trustee of the Hanson No 2 Pension Scheme for the Hanson Pension Trustees Limited.


									Specific Skills and Qualifications •Qualified chartered management accountant with extensive business leadership skills and financial reporting expertise •Extensive executive management experience, including as a chief executive officer of a building materials company, and board experience within global businesses •Deep knowledge of the Company Other Public Company Directorships •None Former Public Company Directorships •Member, O-I Glass, Inc. (2015—2025) •Member, HeidelbergCement AG (2010—2017) •Member, International Power plc (2007—2011) •Member, Hanson PLC (2002—2007)

ALAN MURRAY Independent Director Age: 72 Director since: Jan 2013 Audit Committee Financial Expert Board Committees: •Audit •Nominations & Governance (Chair)



									Ms. Wood was appointed as a Non-Employee Director in January 2021. Ms. Wood served from September 2018 to September 2022 as senior vice president and chief financial officer of Vulcan Materials Company, a large producer of construction aggregates. From 2012 to 2018, she served as chief financial officer of Ashtead Group plc, a FTSE 100 international equipment rental company, after having joined Ashtead in 2003 as chief financial officer of Sunbelt Rentals, Ashtead’s largest operating brand in the U.S. She started her career with PricewaterhouseCoopers.


									Specific Skills and Qualifications •Chartered accountant and experienced chief financial officer with significant financial and operational knowledge •Extensive financial reporting and public company experience Other Public Company Directorships •Member, RELX PLC Former Public Company Directorships •Member, H&E Equipment Services, Inc. (2023—2025) •Member, Ashtead Group plc (2012—2018)


SUZANNE WOOD Independent Director Age: 66 Director since: Jan 2021 Audit Committee Financial Expert Board Committees: •Audit (Chair)


Name	Fees Earned or Paid in Cash ($)	Stock Awards ($)(1)	All Other Compensation ($)(2)	Total ($)
Board Chair
Geoff Drabble	158,347	74,813	15,000	248,160
Other Non-Employee Directors
Rekha Agrawal	54,173	74,813	—	128,986
Kelly Baker	66,053	74,813	—	140,866
Rick Beckwitt	54,173	74,813	—	128,986
Cathy Halligan	54,173	74,813	—	128,986
Brian May	54,173	74,813	15,000	143,986
James S. Metcalf	54,173	74,813	—	128,986
Alan Murray	66,053	74,813	—	140,866
Suzanne Wood	66,053	74,813	—	140,866


			Amount ($000)
Director Fees:
Non-Employee Directors’ Base Fee			$54.2 ($130.0 annualized)
Fees in Addition to Base Fee:
Board Chair’s Fee			$104.2 ($250.0 annualized)
Chair of Audit Committee			$11.9 ($28.5 annualized)
Chair of Compensation Committee			$11.9 ($28.5 annualized)
Chair of Nominations & Governance Committee			$11.9 ($28.5 annualized)
Equity Awards:
Restricted Stock Unit Awards			$75.0 ($180.0 annualized)



									The Board recommends that shareholders vote “FOR” the ratification of Deloitte & Touche LLP as the Company’s independent registered public accounting firm for fiscal 2026.
			PROPOSAL 2:
			Ratification of Appointment of Independent Registered Public Accounting Firm


	TP Ended December 31,	For the Year Ended July 31,
	2025	2025	2024
	$m	$m
Audit fees(1)	9.5	10.6	12.0
Audit-related fees	—	—	—
Tax fees	—	—	—
All other fees(2)	—	—	—
Total	9.5	10.6	12.0



									The Board recommends that shareholders vote “FOR” the approval, on an advisory basis, of the compensation of the Company's Named Executive Officers for the five-month transition period from August 1, 2025 to December 31, 2025.
			PROPOSAL 3:
			Advisory Vote to Approve Executive Compensation (“say-on-pay”)


Executive Summary			36
Five-Month Transition Period Financial Highlights			36
Compensation Philosophy and Objectives			37
Pay Decisions and Compensation Governance Policies and Practices			38

Compensation Determination Process			38
Role of the Compensation Committee			38
Role of the Independent Compensation Consultant			39
Role of Management			40
Compensation Peer Group and Benchmarking			40

Elements of Our Compensation Program			41
Pay Mix			41
Base Salaries			42
Short-Term Incentive Award Program			42
Long-Term Equity-Based Incentive Program			44
General Information on Share Plans			47
Non-Qualified Deferred Compensation Arrangements			50
Other Executive Benefits and Perquisites			51
Employment Agreements			51


Management of Compensation Related Risks			52
Compensation Risk Assessment			52
Oversight Policies			53

Severance and Change in Control Arrangements			54
Change in Control Policy			54
U.S. Federal Income Tax Considerations			55
Accounting for Stock-Based Compensation			55

Transition Period Summary Compensation Table			56
Transition Period Grants of Plan-Based Awards			58
Outstanding Equity Awards at t he End of the Transition Period			59
Transition Period Option Exercises and Stock Vested			61
Transition Period Non-Qualified Deferred Compensation			61
Potential Payments Upon Termination or a Change in Control			62
CEO Pay Ratio			65
Pay Versus Performance			66


Principle			Description

Alignment with shareholders and long-term Company strategy			ensure alignment of executive and shareholder interests and long-term Company strategy through stock-based long-term incentive awards and stock ownership guidelines;


Pay for performance			appropriately align executive pay and performance by delivering a significant amount of total compensation through variable incentive compensation and providing opportunities to earn higher rewards for sustained superior financial and individual performance;


Attract and retain			maintain policies and programs that will attract, retain and motivate executives, and fairly compensate our executives for the contribution they make to the business;


Market-based			provide total compensation which is market competitive, with regard to the size and complexity of the Company’s operations and the markets in which we compete for talent (using peer company and compensation survey data comparisons); and


Balanced short & long-term focus			maintain compensation packages that include salary, short and long-term incentives, benefits and retirement provisions, and limited perquisites.



What We Do									Significant portion of Executive Officer compensation is variable and based on achievement of performance measures that we believe drive long-term shareholder value Established pre-defined performance metrics that align with target, threshold, and maximum payouts Ensure incentive-based compensation is subject to clawback if there is a financial restatement or for certain misconduct Use long-term equity incentive vesting periods consistent with many of our peers Use different metrics in short-term and long-term incentive plans Require significant stock ownership by all Executive Officers Regularly review governance of our programs to align with market best practices Conduct annual pay risk assessment Annually assess peer group to ensure appropriate alignment Double trigger change in control if long-term incentive awards are assumed Retain independent compensation consultant



What We Don’t Do									No hedging or pledging of Company shares permitted No evergreen provisions in long-term incentive plans No guaranteed bonuses or uncapped incentive award opportunities for Executive Officers No payment of dividends or dividend equivalents on equity awards unless and until underlying awards vest No short-term trading in Company shares permitted for the individuals specified in the Company's insider trading policy, including Directors and Executive Officers No repricing or exchanging of underwater stock options No excessive perquisites No tax gross ups



3M Company	AutoZone, Inc.	Builders FirstSource, Inc.
Carrier Global Corporation	CDW Corporation	Cummins Inc.
Eaton Corporation plc	Fastenal Company	Genuine Parts Company
The Home Depot, Inc.	Johnson Controls International plc	Lowe's Companies, Inc.
O’Reilly Automotive, Inc.	PACCAR Inc.	The Sherwin-Williams Company
Trane Technologies plc	United Rentals, Inc.	W.W. Grainger, Inc.


Annual Base Salary Changes as of October 1, 2025
NEO	New Annual Base Salary	Prior Annual Base Salary	Percent Change
Kevin Murphy	$1,550,000	$1,500,000	3.3	%
Bill Brundage	$918,000	$835,000	10.0	%
Bo Camposano	$618,000	$562,000	10.0	%
Jake Schlicher	$672,000	$640,000	5.0	%
Bill Thees	$787,000	$715,000	10.0	%


Metric	Weighting	Definition	Rationale

Adjusted Operating Profit(1)		Operating profit before acquisition related intangible amortization and certain other non-GAAP adjustments, as further described in the section titled “Non-GAAP Reconciliations and Supplementary Information.”	Adjusted operating profit is an important measure of business performance as it rewards revenue growth, gross margin improvement and appropriate cost control, and demonstrates the profitability of our core operations.


	All NEOs (other than B. Camposano)		B. Camposano		Threshold (50% of Target)	Target (100% of Target)	Maximum (200% of Target)	Actual(1)
Adjusted Operating Profit (FEI)	100	%	30	%	$928	$1,092	$1,201	$1,153
Adjusted Operating Profit (U.S. Waterworks Customer Group)	—	%	70	%	$312	$367	$404	$405


Name	TP Target Bonus (% of Salary)		Annualized Target Bonus	TP Target Bonus(1)	Actual TP Bonus Earned(2)	Actual TP Bonus Earned (% of Target)
Kevin Murphy	160	%	$2,480,000	$1,020,000	$1,587,120	156	%
Bill Brundage	110	%	$1,010,056	$405,552	$631,039	156	%
Bo Camposano	100	%	$617,760	$248,040	$463,091	187	%
Jake Schlicher	100	%	$672,000	$274,667	$427,382	156	%
Bill Thees	100	%	$786,500	$315,792	$491,372	156	%


Name	Annualized Target LTI	Target TP LTI(1)	Target PSUs Awarded	RSUs Awarded	Stock Options Awarded
Kevin Murphy	$10,750,000	$4,479,167	9,530	5,718	11,698
Bill Brundage	$3,100,000	$1,291,667	2,748	1,648	3,373
Bo Camposano	$1,500,000	$625,000	1,329	797	1,632
Jake Schlicher	$1,750,000	$729,167	1,551	930	1,904
Bill Thees	$1,750,000	$729,167	1,551	930	1,904