PHINIA Inc. (PHIN) has released an update.
PHINIA Inc.’s Compensation Committee has approved the 2024 incentive compensation for the company’s executive officers, encompassing annual cash bonuses and long-term equity incentives to align their interests with shareholder value. Bonuses are tied to economic value and adjusted free cash flow, with potential payouts ranging from 0% to 200% of their target opportunities, based on performance. Additionally, long-term incentives include performance stock units, determined by shareholder return, and restricted stock, which vest over time, designed to encourage executive retention and sustained company performance.
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