Eastern Company adopts new performance-based equity award agreements for executives

EASTERN CO

Compensation Committee adopted new forms of performance-based stock award and non-qualified stock option agreements effective May 15, 2024.
Stock awards now tied to EBITDA, return on invested capital, and relative TSR multiplier; time-based vesting eliminated.
Option awards also subject to similar performance criteria under the new form.
Agreements used for all executive officer grants under the 2020 Stock Incentive Plan.

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