Parker-Hannifin adopts new Officer Annual Cash Incentive Plan and Deferred Compensation Plan

Parker-Hannifin Corp

Officer ACIP metrics: segment operating income (40%), sales revenue (20%), cash flow (40%); performance multiplier up to ±20% based on ESG/strategic goals.
Fiscal 2023 target opportunities for named executive officers are materially consistent with prior cash incentive programs.
New Deferred Compensation Plan (effective Jan 1, 2023) allows deferral of up to 50% of base salary and 80% of cash incentives.
DCP includes discretionary matching contribution of 100% on first 5% of eligible compensation, reduced by qualified plan match, and Executive Retirement Contribution up to 4%.
DCP vesting: participant deferrals and matching always vested; Excess RIA contributions vest after 3 years; Executive Retirement Contributions vest at age 55 with 5 years of service.

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