The company said the Board of Directors appointed Tom Linebarger (60) as a director with immediate effect on February 6, 2024, and that he will initially serve on the Audit Committee and the Sustainability & Corporate Responsibility Committee.

1. 01

   The company said the Board of Directors appointed Tom Linebarger (60) as a director with immediate effect on February 6, 2024, and that he will initially serve on the Audit Committee and the Sustainability & Corporate Responsibility Committee.

2. 02

   The company said Linebarger will receive, under its existing compensation arrangements for non-employee directors, an annual RSU grant with a grant-date fair market value of $230,000 and an annual retainer of $100,000, with the 2024 amounts prorated for the period after his appointment.

3. 03

   The company said RSUs granted to non-employee directors vest immediately and are settled through the issuance of shares upon the director's departure from the Board or 3 years after grant, unless they are deferred into the Deferred Compensation Plan.

4. 04

   The company said the appointment brings the Board to a total of 13 members, including 12 independent directors. Linebarger served as chairman and chief executive officer of Cummins Inc. for 10 years before retiring as executive chairman in July 2023.

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