image2a.jpgUNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
14701 Charlson RoadSCHEDULE 14A
Eden Prairie, Minnesota 55347Proxy Statement Pursuant to Section 14(a) of the
Securities Exchange Act of 1934 (Amendment No.  )
NOTICE OF 2021 ANNUAL MEETING OF SHAREHOLDERS
Filed by the RegistrantFiled by a party other than the Registrant
May 6, 2021
TO OUR SHAREHOLDERS:
CHECK THE APPROPRIATE BOX:
Preliminary Proxy Statement
Confidential, for Use of the Commission Only (as permitted by Rule 14a-6(e)(2))
Definitive Proxy Statement
Definitive Additional Materials
Soliciting Material under §240.14a-12
C.H. Robinson Worldwide, Inc.’s 2021
(Name of Registrant as Specified In Its Charter)
(Name of Person(s) Filing Proxy Statement, if Other Than the Registrant)

PAYMENT OF FILING FEE (CHECK ALL BOXES THAT APPLY):
No fee required
Fee paid previously with preliminary materials
Fee computed on table in exhibit required by Item 25(b) per Exchange Act Rules 14a-6(i)(1) and 0-11



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We move the goods
that move the world
C.H. Robinson brings together customers, carriers, and suppliers to connect supply chains. As the world’s largest and most connected logistics platform, we operate at the heart of global commerce. People get the goods they need through our unmatched expertise; tailored, multimodal solutions; service commitment; and unrivaled scale. With thousands of supply chain experts in 39 countries, we provide logistics like no one else.
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Purpose
Together, we keep the world moving forward. Every shipment. Every challenge. Every day.
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Mission
Our people, processes, and technology improve the world’s transportation and supply chains, delivering exceptional value to our customers and suppliers.
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Vision
Accelerating commerce through the world’s most powerful supply chain platform.
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$17.6B
2023 Total Revenues
15,000
Employees Worldwide
>90,000
Active Customers
>450,000
Contract Carriers on our Platform



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“I want to recognize our entire C.H. Robinson team for their dedication and ingenuity. Although 2024 presents some of the same challenges and headwinds as 2023, our talented people continue to serve our customers and carriers like no one else can. Now, with Dave’s exceptional leadership and vision, C.H. Robinson is poised to further unlock the power of our people, processes, products, and portfolio.”
Jodee Kozlak,Chair of the Board
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Dear Fellow Shareholders:
On behalf of our entire Board of Directors, I am pleased to present our annual Proxy Statement.
2023 was a notable year for the Board, as we successfully concluded a leadership succession plan. During the executive search process, the Board focused on identifying a seasoned, forward-looking leader to reinvigorate and accelerate C.H. Robinson’s growth, optimize expenses, and focus the business. After a comprehensive and inclusive search, we were delighted to appoint David (Dave) Bozeman as President and Chief Executive Officer in June.
Company Leadership
With more than 30 years of experience at industry-leading companies and iconic brands, Dave brings a track record of reinventing complex operating models, proven expertise in global supply chain and logistics management, and extensive experience leading high performing teams that drive results. We are confident Dave is the right leader to take us into the future and execute on the opportunities ahead.
The entire Board remains actively engaged with Dave during this important inflection point as we strategically position the company to increase profitability and drive long-term shareholder value, following a period in which the performance of our stock has not met our expectations. Dave has moved quickly to establish the strategic building blocks that lay the groundwork for our future, including initiating and deepening strong operational excellence practices and innovation to drive success in our strategic priorities and value creation for our shareholders.
Board Leadership
As Chair, one of my priorities is to ensure the Board has the right composition of Board members to oversee execution of the company’s strategy, drive positive change, and increase shareholder value as we move into the future. The Board welcomes nominees Michael McGarry and Paige Robbins. Michael brings extensive leadership experience, having recently retired as Executive Chairman of PPG Industries after more than four decades with the company, where he led the company through a multi-year transformation and successful expansion of PPG’s portfolio in key growth markets. Paige currently serves as Senior Vice President and President of the Grainger Business Unit, overseeing all commercial functions for the Grainger brand in North America, with a demonstrated record of leveraging technology and data to drive strong operational results and measurable value.
We believe our Board is made up of talented directors with the right mixture of skills and experiences, and a commitment to long-term performance, strategic business development, and increasing shareholder value. We are well-positioned to address and manage current and future risks; provide effective oversight; and foster sustainable, profitable growth.
On behalf of the Board, I want to extend our gratitude to retiring directors Scott Anderson and Jim Stake. Scott’s leadership was invaluable as former Board Chair and during his tenure as interim CEO, and the Board is deeply appreciative of Jim’s service as Audit Committee Chair and Board member over the past fifteen years.
2024 Proxy Statement1


Future Focused
Board refreshment is an ongoing priority, and we have robust foundational processes in place to ensure we maintain a well-functioning Board comprised of leaders with diverse backgrounds and experiences. We also continue to focus on the Board’s processes and structures to affirm they remain effectively designed to help us meet our long-term objectives. This important work is informed by engagement with and feedback from our shareholders.
In 2023, the Board refreshed the leadership and focus of three committees to drive strategic value for our shareholders and stakeholders and enhance transparency and disclosures. Mary Steele Guilfoile chairs the Talent & Compensation Committee that assists the Board in its oversight of the company’s talent, leadership, and culture. The Talent & Compensation Committee will also continue to evaluate and approve compensation strategy, policies, and programs of the company.
The Board also strengthened its focus within the Governance Committee, now chaired by Kermit Crawford, to better represent the significance of ESG topics to our investors and broader stakeholder community and their impact to our long-term success. This adjustment further reflects the heightened focus on these topics and mirrors our company values and mission to improve the world’s supply chains. ESG is tied to our business strategy, talent strategy, our culture, and employee engagement—it is interconnected with our company’s success.
Lastly, Mark Goodburn became Chair of the Audit Committee, bringing a fresh perspective to the way we implement and deliver on our financial reporting and internal controls. To that end, risk management and compliance processes have continued to be focal points for the Audit Committee, ensuring accuracy, accountability, cyber security preparation, and transparency.
Your Board is highly engaged and, as Chair, I look forward to being the key point of contact at the Board level for our shareholders. The Board values the input shareholders provide throughout the year by the various means outlined in this Proxy Statement, and I am committed to continuing that dialogue.
Strength of Our Team
Finally, on behalf of the Board, I want to recognize our entire C.H. Robinson team for their dedication and ingenuity. Although 2024 presents some of the same challenges and headwinds as 2023, our talented people continue to serve our customers and carriers like no one else can. Now, with Dave’s exceptional leadership and vision, C.H. Robinson is poised to further unlock the power of our people, processes, products, and portfolio.
As always, we value your investment in this company, and we appreciate the trust you place in us to oversee your interests in our business.
Sincerely,
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Jodee Kozlak
Chair of the Board
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Table of Contents
2024 Proxy Statement3


Notice of 2024 Annual Meeting of Shareholders
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DATE AND TIME
Thursday, May 9, 2024
at 1:00 p.m. (CT)
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LOCATION
www.virtualshareholdermeeting.com/CHRW2024
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WHO CAN VOTE
Shareholders of record at the
close of business on
March 13, 2024
Voting Items
ProposalsBoard Vote RecommendationFor Further Details
1To elect 12 directors to serve for a term of one year
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FOReach director nominee
Page 13
2To approve, on an advisory basis, the compensation of named executive officers
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FOR
Page 47
3To ratify the selection of Deloitte & Touche LLP as the company’s independent registered public accounting firm for the fiscal year ending December 31, 2024
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FOR
Page 89
We will be held on Thursday, May 6, 2021, at 1:00 p.m. Central Time. You may attend the meeting and vote your shares electronically as part of our virtual only meeting of shareholders by visiting www.virtualshareholdermeeting.com/CHRW2021. To enter the Annual Meeting and vote your shares, you will need the 16-digit control number that is printed in the box marked by the arrow on your Notice of Internet Availability of Proxy Materials or Proxy Card. We recommend that you log in at least fifteen minutes before the meeting to ensure that you are logged in when the meeting starts. The purposes of the meeting are:
1.To elect ten directors to serve for a term of one year;
2.To approve, on an advisory basis, the compensation of our named executive officers;
3.To ratify the selection of Deloitte & Touche LLP as the company’s independent registered public accounting firm for the fiscal year ending December 31, 2021; and
4.Toalso conduct any other business that properly comes before the meeting and any adjournment or postponement of the meeting.
Our Board of Directors has selected Wednesday, March 10, 2021, as our record date. Shareholders who own shares of our Common Stock on the record date are entitled to be notified of, and to vote at, our Annual Meeting.
We use the internet to distribute proxy materials to our shareholders. We believe it is an efficient and cost-effective way to provide the material and it reduces the environmental impact of our Annual Meeting. The Notice of Internet Availability of Proxy Materials for the Annual Meeting and the associated Proxy Statement and Annual Report are available at www.proxyvote.com.
By Friday, March 26, 2021, we will have completed the mailingMailing of the Notice of Internet Availability of Proxy Materials to our shareholders.shareholders is expected to commence on March 26, 2024 and be completed by March 29, 2024. The notice has instructions on how to access our 20212024 Proxy Statement and Annual Report, attend our virtual only meeting, and vote online. Shareholders who have requested hard copies of the proxy materials will receive the Proxy Statement and Annual Report by mail.
Your vote is important. Please vote as soon as possible by voting via the internet or by telephone. If you receive a paper copy of the proxy card by mail, please sign and return the enclosed proxy card.
By Order of the Board of Directors:
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Ben G. Campbell

Chief Legal Officer and Secretary
March 26, 2024
March 23, 2021How to Vote
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Online
www.proxyvote.com
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By Telephone
1-800-690-6903
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By Mail
Mark, date, and sign your proxy card and return it by mail in the postage-paid envelope provided to you.
Important Notice Regarding the Availability of Proxy Materials for the Annual Meeting of Shareholders to be Held on May 9, 2024.The Proxy Statement and the Annual Report are available at www.proxyvote.com.

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About C.H. ROBINSON WORLDWIDE, INC.Robinson
14701 Charlson RoadSustainable Growth Strategy
Eden Prairie, Minnesota 55347gfx_sustainablegrowthstrategy_option1.jpg
PROXY STATEMENT FOR THE2024 Strategic Focus: Unlocking the Power of our Portfolio
2021 ANNUAL MEETING OF SHAREHOLDERSàDrive focus on profitable growth in our four core modes—North American truckload and less than truckload (LTL) and global ocean and air—as the engines to ignite growth, by reclaiming market share in eroded segments and expanding our addressable market through value-added services and solutions that drive new volume and customer loyalty in the core modes.
May 6, 2021àSolve our customers’ increasingly complex logistics needs with more robust capabilities to power industry-centric and other value-added solutions.
àBe the highest value provider to our customers, by delivering market-leading outcomes with exceptional people, trusted relationships, operational discipline, and cutting-edge technology.
àBe the most efficient operator by continuing to improve our cost structure, embedding Lean practices, removing waste, strengthening productivity, and expanding our digital capabilities.
àDrive better synergies across our portfolio of services to accelerate profitable growth by improving how we go to market as one company with unified account management versus showing up as distinct business units.
àUphold a balanced approach to capital allocation to drive growth and improved returns for shareholders.
2024 Proxy Statement5

About C.H. Robinson
Five-Year Financial Results
The combination of weak freight demand and excess carrier capacity resulted in suppressed freight rates in 2023 and a decline in both our total revenues and adjusted gross profits. Although we took actions to reduce our cost structure, these reductions were not enough to offset the impact of the freight recession on our profitability and cash flow.
Total Revenues ($)
(in billions)
[-29% Y/Y]
15942918620713
Adjusted Gross Profits ($)(1)
(in billions)
[-28% Y/Y]
15942918620723

Income from Operations ($)
(in millions)
[-59% Y/Y]
15942918620839
Diluted Earnings Per Share ($)

[-63% Y/Y]
16492674434731
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About C.H. Robinson
Cash Flow from Operations ($)
(in millions)
17592186062606
Capital Distribution ($)
(in millions)
17592186062621
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Cash Dividends
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Share Repurchases
(1)Adjusted gross profit is a non-GAAP measure. Additional information about adjusted gross profit, including a reconciliation to gross profit, is available in our Annual Report on Form 10-K for the year ended December 31, 2023.
Executive Transitions
During 2023 and early 2024, the Board effected several executive leadership changes, including our Chief Executive Officer, Chief Financial Officer, and President of North American Surface Transportation roles. See “Executive Transitions” on p. 55 of this Proxy Statement.
Accelerating Our Impact
Global supply chains are vital to our way of life. By delivering the products people need and want, we help move the world’s economy. At C.H. Robinson, we share a passion for delivering significant value and performance across customers’ logistics and supply chains, uncovering opportunities for how they can improve, and building logistics success through our logistics experts and our scalable, digital model. We excel at building relationships and use configurable, market-leading solutions to drive supply chain outcomes.
Industry classifications often label us as a transportation company. In reality, C.H. Robinson is unique from traditional asset-owning transportation companies because we deliver a global suite of solutions without an owned fleet. It’s our adaptable model that uniquely positions us to meet the needs of dynamic supply chain environments—excelling in even the most demanding situations.
2024 Proxy Statement7

About C.H. Robinson
ESG Highlights
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Link to Strategy
We focus our resources on areas that drive long-term value and contribute to the success of our business. Our work prioritizes topics that align with our business objectives and are most important to our stakeholders. These priority topics were identified through a materiality assessment conducted in 2019 and refreshed annually since 2020. The company is currently conducting a double materiality assessment to ensure a continued focus on areas important to business success and alignment with stakeholder needs, and provide the foundation for compliance with new regulations such as the Corporate Sustainability Reporting Directive (“CSRD”). The assessment is slated for completion in late spring of 2024. Our annual ESG report with more information is released each spring and can be found on the company’s ESG Hub at https://www.chrobinson.com/en-us/about-us/corporate-responsibility/esg/.
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Climate Action
Exceeding Our 2025 Goal
47% reduction
In 2019, using a 2018 baseline, we set a goal to reduce our Scope 1 and Scope 2 emissions intensity 40% by 2025.
In 2023, we achieved our goal two years ahead of schedule.
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àSince 2005, C.H. Robinson has been a member of the U.S. Environmental Protection Agency (“EPA”) SmartWay® program, which helps companies advance supply chain sustainability by measuring, benchmarking, and improving freight transportation efficiency. The program is a voluntary partnership between various freight industry sectors and the EPA.
àSince 2020, we have been an accredited partner of the Smart Freight Centre (“SFC”), a global non-profit organization dedicated to sustainable freight.
àCustomer emissions reporting in our EmissionsIQTM tool is aligned with the SFC’s Global Logistics Emissions Council (“GLEC”) Framework, the leading globally recognized methodology for harmonized calculation and reporting of the logistics GHG footprint across a multimodal supply chain.
àTo advance sustainability efforts within the transportation industry, we joined an effort spearheaded by the World Economic Forum and the SFC to develop a book and claim chain of custody system for tracking and accounting for freight emissions reduction actions to accelerate decarbonization. The C.H. Robinson alternative fuel program commenced with a pilot for road transportation in 2023 and will continue to expand into other modes.
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About C.H. Robinson
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People Empowerment
Our talent strategy builds on our existing strengths while addressing areas and capabilities that we need to evolve to drive future success.
àPeople: Enabled people with a customer-centric focus who have the skills and expertise needed to compete in a more sophisticated supply chain market, including key functions such as industry supply chains, engineering, and product.
àLeadership: Decisive leaders who drive enterprise collaboration and business results today while developing superior talent for the future.
àIncentives: Clear and compelling compensation plans that incentivize enterprise performance and commercial growth.
àCulture: Empowered employees with a dynamic and collaborative mindset who are proactive problem solvers, use speed principles to drive outcomes and enable employees to make decisions faster, and use of lean principles to enhance processes and drive productivity.
àEngagement: Highly engaged people who are motivated to outperform, with a clear understanding of C.H. Robinson’s vision, where they fit within it, and the growth opportunity it offers them.
àThrough C.H. Robinson and the C.H. Robinson Foundation, we support our people, our communities, and our stakeholders with programs that help recruit, engage, and develop top talent, align with business priorities, and advance the logistics and transportation industry as a whole.
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Responsible Business Practices
Our Board is accountable for ensuring responsible governance and setting the strategic path forward for C.H. Robinson. See page 42 for information about Board oversight of our ESG strategy and performance, as well as how Board committees engage on ESG topics.
àEthics and Compliance: All employees participate in our global Code of Ethics training and we hold an annual “Compliance Month” where all employees must complete a range of compliance trainings and tasks, as appropriate for their job responsibility.
àRisk and Crisis Management: Our internal audit team facilities our enterprise risk management program, and conducts an annual risk assessment process, culminating in a formal risk register, which includes topics such as cybersecurity, data privacy, and climate. We publicly report on climate-related risks identified, including a description of the risk, its likelihood and magnitude of the potential impact, in our Task Force on Climate-Related Financial Disclosure (“TCFD”) Report.
àBusiness Suppliers: We expect all of our third-party suppliers to share our commitment to responsible business practices. Our procurement policy provides the foundation for our sourcing practices, integrating ESG and diversity principles into our processes from end to end.
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2023 Recognitions and Awards
àForbes: Best Employer for Diversity
àForbes: Best Employer for New Grads
àFortune: World’s Most Admired Companies
àNewsweek: America’s Most Responsible Companies
àNewsweek: America’s Greatest Workplaces
àInbound Logistics: 75 Green Supply Chain Partners
àWorld Finance: Most Sustainable Companies - Freight Forwarder
2024 Proxy Statement9

About C.H. Robinson
Stakeholder Engagement
At C.H. Robinson, we regularly engage with our stakeholders to identify priorities, gauge risks and opportunities, and help ensure responsible business practices.
Who We Engage
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EMPLOYEESCUSTOMERSINVESTORS
Our diverse network of logistics experts connects the world through technology, innovation, and collaboration to enact long-term, sustainable change for global supply chains.As part of our mission to improve the world’s supply chains, we solve logistics challenges and create value for our customers across industries and geographies.We have constructive conversations with investors on topics such as operating performance and strategy and to better understand other matters of importance to them.
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CONTRACT CARRIERS & SUPPLIERSGOVERNMENT & REGULATORS
COMMUNITY
We support the causes our people are passionate about, contributing to our communities as well as organizations that support our industry and align with our diversity, equity, and inclusion (“DEI”) efforts.
Through stability, support, and technology, we keep operations moving for the contract carriers, suppliers, and growers integral to supply chains around the world.Memberships and relationships with industry associations and government agencies keep us connected to existing and proposed rules and regulations.
How We Engage with Our Investors
We continuously seek to strengthen investor relationships through proactive engagement focused on gaining insight into what matters most to those who choose to invest in our organization. We know their perspectives are critical to our continued success. The long-standing investor outreach program at C.H. Robinson centers around listening and responding to the positions and priorities of our investors through quarterly earnings calls, individual and group investor calls and meetings, investor conferences, as well as our annual shareholders meeting.
TOPICS OF ENGAGEMENT
àBusiness overview and marketplace dynamics
àFinancial performance drivers
àStrategic initiatives
àCapital allocation strategy
àTalent, culture, and DEI
àESG priorities, reporting, and disclosures
àAdditional topics from governance and leadership transitions to executive compensation, among others
WHO IS INVOLVED IN ENGAGEMENT
àChair of the Board
àChief Executive Officer
àChief Financial Officer
àChief Operating Officer
àDirector of Investor Relations
àAdditional members of the C.H. Robinson team, including our Chief Human Resources & ESG Officer and our Vice President of ESG
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Voting Roadmap
This summary highlights information contained elsewhere in this Proxy Statement. This summary does not contain all of the information that you should consider, and you should read the entire Proxy Statement carefully before voting. Page references are supplied to help you find further information in this Proxy Statement.
PROPOSAL 1
Election of Directors
The Board recommends a vote FOReach director nominee.
àSee page 13
Director Nominees
Director
Since
Committee Membership
Director NameIndependentAgeACCAPCGCTCC
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James J. Barber, Jr.
Retired Chief Operating Officer, United Parcel Service
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632022
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David P. Bozeman
President and Chief Executive Officer
552023
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Kermit R. Crawford
Retired President and Chief Operating Officer, Rite Aid
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642020
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Timothy C. Gokey
Chief Executive Officer, Broadridge Financial Solutions
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622017
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Mark A. Goodburn
Retired Chairman and Global Head of Advisory, KPMG International
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612022
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Mary J. Steele Guilfoile
Former Executive Vice President, JP Morgan Chase
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702012
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Jodee A. Kozlak
Chair of the Board; Former Executive Vice President and Chief Human Resources Officer, Target
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612013
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Henry J. Maier
Retired President and Chief Executive Officer of FedEx Ground
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702022
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Michael H. McGarry
Retired Executive Chairman and Chief Executive Officer, PPG Industries
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66Nominee
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Paige K. Robbins
Senior Vice President and President, Grainger Business Unit
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55Nominee
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Paula C. Tolliver
Retired Corporate Vice President and Chief Information Officer, Intel
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592018
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Henry W. “Jay” Winship
Founder, President and Managing Member of Pacific Point Capital
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562022
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AC- Audit Committee
CAPC- Capital Allocation and Planning Committee
GC- Governance Committee
TCC- Talent & Compensation Committee
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Chair
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Member
2024 Proxy Statement11

Voting Roadmap
PROPOSAL 2
Advisory Vote on the Compensation of Named Executive Officers
The Board recommends a vote FORthis proposal
àSee page47
2023 Compensation Components
Our compensation philosophy is soliciting your proxybuilt on the following principles:
Align pay for use atperformance;
Align the C.H. Robinson Worldwide, Inc., 2021 Annual Meetinginterests of Shareholders. A proxy enables your sharesmanagement to our owners, the shareholders;
Reward profitable long-term growth;
Support company goals, business transformation, and company culture; and
Pay market competitive compensation that attracts, retains, and motivates top talent and allows for upside opportunity to reward that talent if the company achieves superior performance.
Our current Chief Executive Officer’s (“CEO”) target total compensation includes a mix of Common Stockpay that is heavily weighted to long-term, equity-based incentives (72%). Our NEOs other than our CEO have an average of 63% of total compensation targeted to be representedpaid in long-term, equity-based incentives. This is consistent with our philosophy of strong linkage between pay and voted at the Annual Meeting. Our Annual Meeting will be virtual onlyperformance.
CEO 2023 Target Compensation(1)
Average Other NEO 2023 Target Compensation
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(1)CEO 2023 Target Compensation refers to annual compensation elements of Mr. Bozeman’s 2023 compensation, and held at 1:00 p.m. Central Timeexcludes sign-on and one-time payments related to his appointment as CEO in 2023. See “Executive Transitions on Thursday, May 6, 2021. You may attend the virtual meetingpage 55 under Executive Compensation for additional information.
(2)Equity compensation includes 60% Performance Stock Units (“PSUs”) and vote your shares electronically by visiting www.virtualshareholdermeeting.com/CHRW2021. This proxy can also be used at any adjournment or postponement of the Annual Meeting.40% Restricted Stock Units (“RSUs”).
This proxy is requested by the Board of Directors of C.H. Robinson Worldwide, Inc., (“the company,” “we,” “us,” "C.H. Robinson”) for the following purposes:(3)Equity compensation includes 50% PSUs and 50% RSUs.
1.To elect ten directors to serve for a term of one year;
PROPOSAL 3
Ratification of the Selection of Independent Auditors
The Board recommends a vote FORthis proposal
àSee page 89
2.To approve, on an advisory basis, the compensation of our named executive officers;
3.To ratify the selection ofThe Audit Committee has selected Deloitte & Touche LLP as the company’s independent registered public accountingaccountant firm for C.H. Robinson for the fiscal year ending December 31, 2021; and
4.To conduct any other business that properly comes before the meeting and any adjournment or postponement of the meeting.
We provide our shareholders with the opportunity to access the 2021 Annual Meeting proxy materials online. A Notice of Internet Availability of Proxy Materials is being mailed to all our shareholders, except those who have previously provided instructions to receive paper copies of our proxy materials. The notice contains instructions on how to access and review our proxy materials online and how to vote your shares. The notice will also tell you how to request our proxy materials in printed form or by email, at no charge, if that is your preference. The notice contains your 16-digit control number that you will need to vote your shares at our virtual only Annual Meeting. Please keep the notice for your reference until after our Annual Meeting.
We will have completed mailing the Notice of Internet Availability of Proxy Materials to our shareholders by Friday, March 26, 2021.
General Information
Who is entitled to vote?
Holders of record of C.H. Robinson Worldwide, Inc., Common Stock, par value $0.10 per share, at the close of business on March 10, 2021, are entitled to vote at our Annual Meeting. March 10, 2021, is referred to as the record date. As of the record date, 131,142,265 shares of Common Stock were outstanding. Each share is entitled to one vote. There is no cumulative voting.
Shares are counted as present at the Annual Meeting if either the shareholder is present and votes during the Annual Meeting, or has properly submitted a proxy by mail, by telephone, or by internet. To achieve a quorum and conduct business at the Annual Meeting, a majority of our issued and outstanding Common Stock as of March 10, 2021, must be present and entitled to vote. If a quorum is not represented at the Annual Meeting, the shareholders and proxies entitled to vote will have the power to adjourn the Annual Meeting until a quorum is represented.2024.
2021 Proxy Statement12
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How can I vote?
If you submit your vote before the Annual Meeting using any of the following methods, your shares of Common Stock will be voted as you have instructed:
Online: You can vote your shares at www.proxyvote.com. You may access this website 24 hours a day, and voting is available through 11:59 p.m. Eastern Time on Wednesday, May 5, 2021. You will need your 16-digit control number that was included in the notice that was mailed to you. The voting website has easy-to-follow instructions and allows you to confirm that the system has properly recorded your votes. If your shares are held beneficially, please follow the internet voting instructions in the notice you received from your bank, broker, trustee, or other record holder.
By Telephone: You can vote your shares by telephone. To vote your shares by telephone, please go to www.proxyvote.com and log in using your 16-digit control number provided on your notice. At that site, you will be provided with a telephone number for voting. Alternatively, if you request paper copies of the proxy materials, your proxy card or voting instruction form will have a toll-free telephone number that you may use to vote your shares. Telephone voting is available through 11:59 p.m. Eastern Time on Wednesday, May 5, 2021. When you vote by telephone, you will be required to enter your 16-digit control number, so please have it available when you call. As with internet voting, you will be able to confirm that the system has properly recorded your votes.
By Mail: If you choose to receive paper copies of the proxy materials by mail and you are a holder of record, you can vote by marking, dating, and signing your proxy card and returning it by mail in the postage-paid envelope provided to you. If you choose to receive paper copies of the proxy materials by mail, and you hold your shares beneficially, you can vote by completing and mailing the voting instruction form provided by your bank, broker, trustee, or holder of record.
Your vote is important, and we encourage you to vote promptly. Online and telephone voting are available through 11:59 p.m. Eastern Time on Wednesday, May 5, 2021, for all shares entitled to vote. The company will be hosting the Annual Meeting virtually this year, which we believe allows C.H. Robinson to be more inclusive and reach a greater number of our shareholders. To attend the virtual meeting please visit www.virtualshareholdermeeting.com/CHRW2021 and be sure to have the 16-digit control number provided to you on your Notice of Internet Availability of Proxy Materials or Proxy Card. If you are a beneficial shareholder (you hold your shares through a nominee, such as a broker), your nominee can advise you whether you will be able to submit voting instructions by telephone or via the internet. Submitting your proxy will not affect your right to vote electronically, if you decide to login with your 16-digit control number and attend the virtual only Annual Meeting. Shareholders logging into the Annual Meeting with their 16-digit control number will receive the same rights and opportunities to participate in the Annual Meeting as they would if the meeting was an in-person meeting. This includes having the ability to ask questions throughout the Annual Meeting and having those questions answered during the question and answer period at the end of the Annual Meeting, to the extent such questions are related to the business being conducted at the Annual Meeting. Shareholders logging in with their 16-digit control number will be able to ask questions at any time during the Annual Meeting. Relevant questions related to business being conducted at the Annual Meeting will be answered following the adjournment of the Annual Meeting, and the company will prioritize questions that relate to the proposals considered at the Annual Meeting. If a shareholder asks general questions about C.H. Robinson, a representative of the company will respond to the shareholder following the adjournment of the Annual Meeting. Shareholders can learn more information about how to access the Annual Meeting by visiting www.virtualshareholdermeeting.com/CHRW2021.
What happens if I return my proxy without voting instructions?
If you do not return voting instructions with your proxy, your proxy will be voted:
FOR the election of the ten director nominees named in this Proxy Statement;
FOR approval of the compensation of our named executive officers; and
FOR the ratification of Deloitte & Touche LLP, the member firm of Deloitte Touche Tohmatsu Limited, and their respective affiliates (collectively, “Deloitte & Touche”) as our independent registered public accounting firm for the fiscal year ending December 31, 2021.



Proposal 1: Election of Directors
Background
There are 12 nominees for election to the C.H. Robinson Board of Directors (the “Board of Directors” or the “Board”) for a one-year term. Ten of the nominees are current directors. Scott P. Anderson and James B. Stake, whose terms expire at the Annual Meeting, have each decided not to seek re-election at the Annual Meeting. Michael H. McGarry and Paige K. Robbins are standing for election as nominees for the first time at the Annual Meeting. The Board of Directors has set the number of directors constituting the Board of Directors effective at the Annual Meeting at 12.
James J. Barber, Jr., David P. Bozeman, Kermit R. Crawford, Timothy C. Gokey, Mark A. Goodburn, Mary J. Steele Guilfoile, Jodee A. Kozlak, Henry J. Maier, Paula C. Tolliver, and Henry W. “Jay” Winship are directors whose terms expire at the Annual Meeting. Both Mr. McGarry and Ms. Robbins were identified as potential candidates for election to the Board of Directors by an external search firm retained by our Governance Committee.
The Board of Directors has determined that all the directors and nominees, except for Mr. Bozeman, are independent under the current standards for “independence” established by the Nasdaq Stock Market, on which the C.H. Robinson stock is listed under the symbol “CHRW”. In connection with its evaluation of director independence, the Board of Directors considered the following transactions, each of which were entered into in the ordinary course of business:
àFor Mr. Gokey, services provided on behalf of the company by Broadridge Financial Solutions, where Mr. Gokey is employed, and for which payments were less than 1% of either companies’ revenues or operations in the last three fiscal years.
àFor Mr. Goodburn, services provided on behalf of the company by KPMG LLP, where Mr. Goodburn was employed until 2020, and for which payments were less than 1% of either companies’ revenues or operations in the last three fiscal years.
àFor Mr. McGarry, services provided by the company on behalf of PPG Industries, Inc. and/or its subsidiaries, where Mr. McGarry was Executive Chairman until 2023, and for which payments were less than 1% of either companies’ revenues or operations in the last three fiscal years.
àFor Ms. Robbins, services provided by the company on behalf of W.W. Grainger, Inc. and/or its subsidiaries, where Ms. Robbins is employed, and for which payments were less than 1% of either companies’ revenues or operations in the last three fiscal years.
The Board considered these relationships and their significance in determining that these directors are independent. Information concerning each nominee is provided below.
Messrs. Maier and Winship were each selected as a director pursuant to two cooperation agreements with the Ancora Group (“Ancora”) in, respectively, 2022 and 2023. In accordance with the terms of a letter agreement entered into on December 29, 2023 between Ancora and the company, the Board acknowledged that it would renominate Messrs. Maier and Winship at the Annual Meeting. See “Ancora Letter Agreement” on page 28 for additional details. Based on their service on the Board of Directors over the last year, the Governance Committee and the Board believe they are qualified nominees who are committed to promoting the long-term interests of our shareholders.
On the recommendation of the Governance Committee, the Board of Directors has nominated Mr. Barber, Mr. Bozeman, Mr. Crawford, Mr. Gokey, Mr. Goodburn, Ms. Guilfoile, Ms. Kozlak, Mr. Maier, Mr. McGarry, Ms. Robbins, Ms. Tolliver, and Mr. Winship for election to the Board of Directors at the Annual Meeting for terms of one year each. Each has indicated a willingness to serve.
Mr. Bozeman and Ben G. Campbell will vote the proxies received by them for the election of director nominees Barber, Bozeman, Crawford, Gokey, Goodburn, Guilfoile, Kozlak, Maier, McGarry, Robbins, Tolliver, and Winship unless otherwise directed. If any nominee becomes unavailable for election at the Annual Meeting, Messrs. Bozeman and Campbell may vote for a substitute nominee at their discretion as recommended by the Board of Directors.
BOARD VOTING RECOMMENDATION
The Board of Directors recommends a vote FOR the election as directors of C.H. Robinson Worldwide, Inc. of James J. Barber, Jr., David P. Bozeman, Kermit R. Crawford, Timothy C. Gokey, Mark A. Goodburn, Mary J. Steele Guilfoile, Jodee A. Kozlak, Henry J. Maier, Michael H. McGarry, Paige K. Robbins, Paula C. Tolliver, and Henry W. “Jay” Winship.
2024 Proxy Statement13

Election of Directors
Board Composition
Board Nominee Demographics
Independence
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Independent
2
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2021 Proxy StatementNon-Independent


Tenure
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<3 years
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>10 years
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3-6 years

Generally,
Age
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50s
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70s
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60s
Diversity
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Women
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Racial Minority

Board Skills
Bringing together professionals across a shareholder who does not vote themselves or by proxy on a director nominee or a proposal is not considered present for determining whether the director nominee is elected, or whether the proposal has been approved. Brokers cannot vote shares on their customers’ behalf on “non-routine” proposals without receiving voting instructions from a customer but may vote shares on “routine” proposals without such instructions. The only routine proposal among the three listed above is the proposal to ratify the selectionbroad spectrum of Deloitte & Touche. If a broker does not receive voting instructions from its customer with respect to the other non-routine proposals and is precluded from voting on those proposals, then a “broker non-vote” occurs. If a broker returns a proxy indicating a lack of authority to vote on non-routine proposals, the shares represented by the proxy will be deemed present at the meeting for purposes of determining a quorum, but not present for purposes of calculating the vote on the non-routine proposals.
What is the effect of an abstention or broker non-vote on each proposal?
Regarding the proposals involving the election of directors (proposal one) and the ratification of Deloitte & Touche (proposal three):
If you abstain from voting on a director nominee or proposal three, your shares will be considered present at the Annual Meeting for purposes of determining a quorum and calculating the shares present and entitled to vote on the director nominee or proposal three and, accordingly, will have the same effect as a vote against the director nominee or proposal three.
If you do not vote (or a broker non-vote occurs) on a director nominee or proposal three, your shares will not be deemed present for the purposes of calculating the vote on that nominee or proposal and will generally have no impact on determining whether the director nominee is elected, or proposal three is approved.
Regarding the advisory proposal on the compensation ofskill sets, our named executive officers (proposal two):
If you abstain or do not vote (or a broker non-vote occurs) on proposal two, the abstention or failure to vote will not have any impact on the outcome of proposal two.
What is the required vote on each matter?
Pursuant to our Bylaws, each of the proposals in this Proxy Statement (other than the advisory vote on the compensation of our named executive officers) requires the affirmative vote of the holders of a majority of the outstanding shares of Common Stock voted directly by the shareholder or by proxy at the Annual Meeting and entitled to vote, provided that a quorum is present at the Annual Meeting. Regarding the advisory vote on the compensation of our named executive officers, we will consider shareholders to have approved this proposal if the votes cast FOR the proposal exceed the votes cast AGAINST the proposal.
How do I revoke my proxy?
You may revoke your proxy and change your vote at any time before the voting closes at the Annual Meeting. You may do this by submitting a properly executed proxy with a later date, or by delivering a written revocation to the corporate secretary’s attention at the company’s address listed above, or during the Annual Meeting.
Shareholder Proposals and Other Matters
C.H. Robinson did not receive written notice of any shareholder proposal and, as of the date of this Proxy Statement, the Board of Directors knowshas diverse backgrounds and experiences, which positions them to oversee our organization today. The Board reviews its skills list each year to ensure its directors’ skills continue to align with and support the company’s strategy. The list below is not an exhaustive list and depicts notable areas of nofocus for our director nominees. Nominees have acquired these experiences, qualifications, and skills through education, direct experience, and oversight responsibilities.
CEO/Executive Management Experience: Current or recent experience as a senior executive officer at a large public company to bring expertise in crafting strategy, evaluating risks, and motivating high performance.
Public Company Board: Experience on other public company boards that provides a solid grounding in corporate governance and oversight responsibilities.
Sales & Marketing: Capacity to provide insights to optimize communication of the company’s story; experience leading and executing sales and marketing strategies in a business-to-business environment.
Accounting/Finance: Expertise in financial accounting and reporting to stakeholders and/or in capital markets and complex financings.
Logistics/Supply Chain/Transportation: Deep knowledge of supply chain, transportation, and/or logistics industries to bring an understanding of the operations and capital needs of the company.
Strategic Initiatives/M&A: Ability to drive strategic direction and growth of a large, complex business, that will be presented for consideration atincluding expertise with mergers and acquisitions, capital markets transactions, and other business development activities.
Technology/Digital/Cybersecurity: Experience with cybersecurity risks and/or digital strategy and transformation to drive internal operations and customer engagement.
Business/International Operations: Ability to provide practical insights into our global operations and the Annual Meeting other than the matters describedmarkets in this Proxy Statement. If any other matters are properly brought before the Annual Meeting, the persons namedwhich we operate.
Talent Strategy & Human Capital Management: Experience in the proxy card will have discretionary authority to votestrategic human capital management on such mattersa global scale, including talent development, succession planning, and/or executive compensation.
Optimization & Innovation: Experience with overseeing innovative processes, optimizing existing systems, and will vote according to their best judgment.accelerating growth.
2021 Proxy Statement14
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3

PROPOSAL ONE: ELECTION OF DIRECTORS

Election of Directors
There are ten nominees for electionBoard Diversity
The company is committed to diversity, equity, and inclusion. Accordingly, the C.H. RobinsonCorporate Governance Guidelines provide, and the Governance Committee believes, that creating a Board of Directors forwith a one-year term, alldiversity of whom are current directors.gender, ethnicity, background, talent, experience, accomplishments, and perspectives is in the best interests of the company and its shareholders. The Board of Directors has set the number of directors constituting the Board of Directors at ten.
Scott P. Anderson, Robert C. Biesterfeld Jr., Kermit R. Crawford, Wayne M. Fortun, Timothy C. Gokey, Mary J. Steele Guilfoile, Jodee A. Kozlak, Brian P. Short, James B. Stake, and Paula C. Tolliver are directors whose terms expire at the 2021 Annual Meeting. On the recommendation of our Governance Committee, the Board of Directors has nominated Directors Anderson, Biesterfeld, Crawford, Fortun, Gokey, Guilfoile, Kozlak, Short, Stake, and Tolliver for electioncompany is committed to the Board of Directors at the Annual Meeting for terms of one year each. Each has indicated a willingness to serve. Mr. Crawford is standing for election by the shareholders for the first time at this Annual Meeting. Mr. Crawford was identified as a potential candidateconsidering candidates for the Board of Directors, by a third-partyregardless of gender, ethnicity, and national origin. Any search firm and appointed byretained to assist the BoardGovernance Committee in seeking director candidates is instructed to consider these commitments.
The information below reflects the diversity of Directors on September 23, 2020.
Robert C. Biesterfeld Jr. and Ben G. Campbell will vote the proxies received by them for the electioncurrent members of Directors Anderson, Biesterfeld, Crawford, Fortun, Gokey, Guilfoile, Kozlak, Short, Stake, and Tolliver unless otherwise directed. If any nominee becomes unavailable for election at the Annual Meeting, Mr. Biesterfeld and Mr. Campbell may vote for a substitute nominee at their discretion as recommended by the Board of Directors.
The
FemaleMale
Board Diversity Matrix (As of March 26, 2024)


Total Number of Directors12
Part I: Gender Identity
Directors39
Part II: Demographic Background
African American or Black02
White37
Board Refreshment
Our Board of Directors, has determined that allwith the directors, except for Mr. Biesterfeld, are independent underassistance of the current standards for “independence” established byGovernance Committee, prioritizes the Nasdaq Stock Market, on which C.H. Robinson’s stock is listed under the symbol “CHRW”.review and refreshment of its membership. In connection with its evaluationthis objective, the Governance Committee, on an as-needed basis and at least annually, reviews the structure and composition of director independence, the Board of Directors consideredto ensure that the following transactions, all of which were entered into inproper skills and experience are represented.
In 2022, two long-term directors concluded their terms at the ordinary course of business:
For Mr. Gokey, services provided inannual meeting and four new directors joined the ordinary course of business on behalf ofBoard during the year. On January 1, 2023, our former CEO departed the company and resigned from the Board. In June 2023, we welcomed our new CEO to the Board. In March 2024, two additional long-term directors announced that they would not seek re-election at the upcoming Annual Meeting in May and the Board nominated two new director candidates to stand for election by Broadridge Financial Solutions where Mr. Gokey is employed,our shareholders at the Annual Meeting.
We believe our refreshment process brings additional perspectives to our Board membership and which were immaterialcontinues to eitherincrease and renew the companies' revenues or operations in the last three fiscal years.
For Mr. Short, services provided in the ordinary coursescope of business by Admiral Merchants Motor Freight, Inc., (“AMMF”), an entity in which, together with a number of his family members, Mr. Short holds a controlling interest. In 2020, AMMF provided services to C.H. Robinson as a contracted motor carrier.our Board’s qualifications.
The Board considered these relationshipsalso regularly considers the membership of its four standing committees. Pursuant to our Corporate Governance Guidelines, the Board has the ability to reevaluate and their significance in determining that these directors are independent. Information concerningrevise the nominees is below.committee structure at any time.
During 2023, Mr. Goodburn was appointed Chair of the Audit Committee, Mr. Crawford was appointed Chair of the Governance Committee, Ms. Guilfoile was appointed Chair of the Talent & Compensation Committee, Mr. Anderson was re-appointed to the Governance Committee, and Mr. Bozeman was appointed to the Capital Allocation and Planning Committee.
Recent Changes At a Glance
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New directors joined board in 2022 – 2023
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Directors concluded board tenure in 2022 – 2023
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New director nominees standing for election in 2024
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Directors concluding board tenure in 2024
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20212024 Proxy Statement15

PROPOSAL ONE: ELECTION OF DIRECTORS

Election of Directors
Director Nominee Biographies and Qualifications
Scott P. Anderson (DirectorJames J. Barber, Jr.
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INDEPENDENT
(Director Nominee)
Age: 63
Director Since:
December 2022
Committees:
àAudit
Scott P. Anderson, 54 years old,
Director Qualifications
Mr. Barber possesses an extensive 35+ year background at UPS, which encompassed leadership positions in UPS’s Domestic and International business units, as well as in Supply Chain Solutions, including both Global Freight Forwarding and Coyote Logistics. This experience provides our Board with valuable insights into key topics relevant to our business. Mr. Barber has been a directordemonstrated experience in the areas of the company since 2012,finance and accounting, as well as growth strategies and operations. He currently serves as chairman of our Board of Directors. Mr. Anderson was a senior advisor to Patterson Companies, Inc., (Nasdaq: PDCO) from June 2017 to June 2019 when he retired. He served as president and chief executive officer of Patterson Companies from 2010 to 2017. In April 2013, he was elected to the additional responsibility of chairman of the board. Prior to June 2006, when he became president of Patterson Dental Supply, Inc., Mr. Anderson held senior management positions in the dental unit, including vice president, sales and vice president, marketing. Mr. Anderson became a director of Patterson in June 2010. Mr. Anderson is a past chairman of the Dental Trade Alliance, and has served on the board of the directors of the Ordway Theater. Mr. Anderson is a trustee of Gustavus Adolphus College, where he serves as chairman of the board. Mr. Anderson earned his MBA from Northwestern University, Kellogg School of Management and his bachelor’s degree from Gustavus Adolphus College.
Mr. Anderson has significant public company senior management and executive experience through his service in several senior leadership positions at Patterson Companies. He also hasanother public company board, experience, having served as a member of Patterson’s board of directors from 2010 to 2017.US Foods. Mr. Anderson also brings substantial sales and marketing expertise to the company, having served as Patterson’s vice president, sales and vice president, marketing. Mr. AndersonBarber meets the definition of an “Audit Committee Financial Expert” as established by the Securities and Exchange Commission.

Robert C. Biesterfeld Jr. (Director Nominee)
Robert C. Biesterfeld Jr., 45 years old, has been the president and the chief executive officer of C.H. Robinson since May 2019 and has served as a director of the company since May 2019. Prior to becoming chief executive officer in May 2019, he held the positions of chief operating officer from March 2018 to May 2019, president of North American Surface Transportation from January 2016 to December 2018, vice president of Truckload from January 2014 to December 2015, and vice president of Temperature Controlled Transportation and Sourcing Services from January 2013 to December 2013. He began his career with Robinson Fresh in 1999. Currently, Mr. Biesterfeld serves as a trustee of the Winona State University Foundation. Mr. Biesterfeld served on the Board of Directors for the Transportation Intermediaries Association (TIA) from June 2015 to May 2020. He graduated from Winona State University with a Bachelor of Arts.
Mr. Biesterfeld has over 20 years of experience with
Background
àC.H. Robinson Worldwide, Inc. (Nasdaq: CHRW)
Director (2022 – Present)
àUnited Parcel Service, Inc. (“UPS”) (NYSE: UPS), a package delivery company and leading provider of global supply chain management solutions
Chief Operating Officer (2018 – 2020)
President, UPS International (2013 – 2018)
President, UPS Europe (2011 – 2013)
Other roles of increasing responsibility, including roles in North American Surface TransportationRegion and Robinson FreshDistrict Manager, Mergers & Acquisition Transaction Manager, Region and executive experience as chief operating officerDistrict Controller, Accounting Manager, and various other executivemanagement positions withinin Finance & Accounting
Began career at UPS as a package delivery driver in 1985
àOther Experience
Former Trustee, The UPS Foundation
Former Board member, UNICEF
Former Board member, Folks Center for International Business at the company. He has an extensiveUniversity of South Carolina
Public Board Experience
àUS Foods, Inc. (NYSE: USFD)
Director and thorough understandingmember of C.H. Robinson’s operationsthe Compensation and the transportation industryHuman Capital Committee (2022 – Present)
Education
àBachelor of Science in general.Finance, Auburn University

2021 Proxy Statement16
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5

PROPOSAL ONE: ELECTION OF DIRECTORS

Election of Directors
David P. Bozeman
Kermit R. Crawford05_426224-3_pic_bozeman_d.jpg
(Director Nominee)
Age: 55
Director Since:
June 2023
Committees:
àCapital Allocation and Planning
Kermit R. Crawford, 61
Director Qualifications
Mr. Bozeman brings over 30 years old, joined of experience at industry-leading companies and iconic brands across supply chains, middle-mile transportation, manufacturing, digital, and customer service. Mr. Bozeman has a strong track record of reinventing complex operating models with industry-wide impact, proven expertise in global supply chain and logistics management through various economic cycles, and extensive experience leading high performing teams and cultures to drive results.
Background
àC.H. Robinson asWorldwide, Inc. (Nasdaq: CHRW)
Chief Executive Officer (June 26, 2023 – Present)
Director (June 26, 2023 – Present)
àFord Motor Company (NYSE: F), an automobile manufacturer
Vice President Ford Customer Services Division and Enthusiast Brands (2022 – 2023)
àAmazon.com, Inc. (Nasdaq: AMZN), a director in 2020. Mr. Crawford previously served as presidenttechnology company focused on ecommerce, cloud computing, online advertising, digital streaming, and chief operating officer at Rite Aid Corporation from October 2017 to March 2019. Prior to joining Rite Aid, Mr. Crawford was an operating partner and advisor with the private equity firm Sycamore Partners from 2015 to 2017. He previously worked for Walgreens Co. from 1983 to 2014 where he served in multipleartificial intelligence
Senior Vice President, Amazon Transportation Services (2017 – 2022)
àCaterpillar Inc. (NYSE: CAT)
Senior Vice President, Enterprise Systems (2013 – 2017)
Multiple roles of increasing responsibility (2008 – 2013)
àHarley-Davidson, Inc. (NYSE: HOG), a construction, mining, and other engineering equipment manufacturer
Multiple roles of increasing responsibility (1992 – 2008), including executive vice presidentas Vice President, Advanced Manufacturing
àOther Experience
Trustee and president of Pharmacy, Health, and Wellness and executive vice president and senior vice president of Pharmacy Services. Mr. Crawford is a member of the boardGovernance Committee, The Brookings Institution
Director and member of directors at TransUnionthe Finance Committee, The Conservation Fund
Public Board Experience
àWeyerhaeuser Co. (NYSE: TRU) and The Allstate Corporation (NYSE: ALL), where he chairs the audit committee. He also serves on the BoardWY)
Former Director (2015 – 2017)
Education
àMaster of DirectorsScience in Engineering/Industrial Management, Milwaukee School of Northwestern Medicine North/Northwest Region and the Board of Trustees for The Field Museum. Mr. Crawford holds a Engineering
àBachelor of Science from The College of Pharmacy and Health Sciences at Texas Southern University.in manufacturing Engineering Technology/Mechanical Design, Bradley University
2024 Proxy Statement17

Election of Directors
Kermit R. Crawford
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INDEPENDENT
(Director Nominee)
Age: 64
Director Since:
September 2020
Committees:
àGovernance (Chair)
àTalent & Compensation
Director Qualifications
Mr. Crawford has significant executive leadership and leadershipbrand experience based on his senior roles with Rite Aid Corporation and Walgreens. He has also developed expertisea strong track record of developing strategy, delivering performance, and leading operational change through the use of technology in the areas of strategic investment and digital transformation.a consumer-focused service business. Mr. Crawford has relevant public company board experience through his membership on the boards of Visa and Allstate, as well as his prior board experience at TransUnion and LifePoint Health.
Background
àC.H. Robinson Worldwide, Inc. (Nasdaq: CHRW)
Director (2020 – Present)
àRite Aid Corporation (NYSE: RAD), a retail drugstore chain
President and Chief Operating Officer (2017 – 2019)
àSycamore Partners, a private equity firm specializing in consumer, distribution, and retail-related investments
Operating Partner and Advisor (2015 – 2017)
àWalgreen Company, one of the largest drugstore chains in the United States (“Walgreens”)
Executive Vice President and President of Pharmacy, Health, and Wellness (2011 – 2014)
Multiple roles of increasing responsibility (1983 – 2011), including as Executive Vice President and President of Pharmacy Services
àOther Experience
Director, Vizient Inc.
Director, Northwestern Medicine North/Northwest Region
Trustee, The Field Museum Chicago
Public Board Experience
àThe Allstate Corporation.Corporation (NYSE: ALL)
Director, Chair of the Audit Committee, and member of the Risk and Return Committee and Executive Committee (2013 – Present)
àVisa Inc. (NYSE: V)
Director and member of the Audit & Risk Committee and Nominating & Corporate Governance Committee (2022 – Present)
àTransUnion (NYSE: TRU)
Former Director, member of the Audit and Compliance Committee and Technology, Privacy and Cybersecurity Committee (2019 – 2021)
àLifePoint Health (NYSE: LPNT; no longer publicly traded)
Former Director and member of the Audit and Compliance Committee, Compensation Committee, Corporate Governance & Nominating Committee, and Quality Committee (2016 – 2018)
Education
àBachelor of Science, The College of Pharmacy and Health Sciences at Texas Southern University

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Election of Directors
Timothy C. Gokey
Wayne M. Fortunphoto_gokeyt.jpg
INDEPENDENT
(Director Nominee)
Age: 62
Director Since:
October 2017
Committees:
àAudit
àTalent & Compensation
Wayne M. Fortun, 72 years old, has been a director of C.H. Robinson since 2001. Mr. Fortun joined Hutchinson Technology Inc., a global technology manufacturer, in 1975 and until 1983, he held various positions in engineering, marketing, and operations. In 1983, he was elected president and chief operating officer of Hutchinson, and in May 1996, he was appointed its chief executive officer. In October 2012, he was appointed chairman of the board and retired as chief executive officer. In October 2016, he retired as chairman of the board.
Director Qualifications
Through Mr. Fortun’s long tenure with Hutchinson,his service in a variety of leadership roles, including his current role as chief executive officer and member of the board, he possesses significant leadership and strategic planning skills. Because of Hutchinson’s worldwide footprint, Mr. Fortun has broad international business experience relevant to the company’s operations. He also has public company board experience through his former membership on the boards of Hutchinson and G&K Services, Inc.

Timothy C. Gokey
(Director Nominee)
Timothy C. Gokey, 59 years old, joined C.H. Robinson as a director in 2017. Mr. Gokey currently serves as chief executive officer and a member of the board of directors at Broadridge, Financial Solutions (NYSE: BR), a corporate services company. He joined Broadridge in 2010 as chief corporate development officer. Mr. Gokey was promoted to corporate senior vice president and chief operating officer in 2012. He was appointed to president of Broadridge in September 2017. Prior to Broadridge, Mr. Gokey served as president, Retail Tax for H&R Block (NYSE: HRB) from 2004 to 2009 and also as a partner at McKinsey & Company. Mr. Gokey earned a Doctorate in Finance and an undergraduate degree in Philosophy, Politics, and Economics from the University of Oxford, where he studied as a Rhodes Scholar. He is a graduate of Princeton University, where he earned a BA in Public Affairs and Management Engineering.
Through his service as president and chief operating officer of Broadridge Financial Solutions, Mr. Gokey has developed exceptional leadership and business execution skills and has broad public company knowledge and expertise. He is also deeply involved in Broadridge’s international operations and technology organization. In his prior roles with Broadridge, as well as H&R Block and McKinsey, & Company, Mr. Gokey has demonstrated expertise in the areas of mergers and acquisitions, sales and marketing, and other growth-related activities. Mr. Gokey meets the definition of an “Audit Committee Financial Expert” as established by the Securities and Exchange Commission.
Background
àC.H. Robinson Worldwide, Inc. (Nasdaq: CHRW)
Director (2017 – Present)
àBroadridge Financial Solutions (NYSE: BR), a public corporate services and financial technology company
Chief Executive Officer (2019 – Present)
Director (2019 – Present)
President (2017 – 2020)
Senior Vice President and Chief Operating Officer (2012 – 2019)
Chief Corporate Development Officer (2010 – 2012)
àH&R Block, a tax preparation company
President, Retail Tax (2004 – 2009)
àMcKinsey & Company, a business strategy consulting company
Partner (1986 – 2004)
àOther Experience
Director, Partnership for New York City
Public Board Experience
àBroadridge Financial Solutions (NYSE: BR)
Director (2019 – Present)
Education
àDoctorate in Finance; Bachelor of Arts/Master of Arts in Philosophy, Politics, and Economics, University of Oxford
àBachelor of Arts in Public Affairs and Management Engineering, Princeton University
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20212024 Proxy Statement19

PROPOSAL ONE: ELECTION OF DIRECTORSElection of Directors


Mark A. Goodburn
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INDEPENDENT
(Director Nominee)
Age: 61
Director Since:
May 2022 
Committees:
àAudit (Chair)
àCapital Allocation and Planning
Director Qualifications
Mr. Goodburn has significant executive and leadership experience based on his senior leadership roles with KPMG. In addition to his executive roles, Mr. Goodburn has served as an advisor to multiple Fortune 500 boards and executive teams. Mr. Goodburn has deep experience and expertise in the areas of strategy, finance, mergers and acquisitions, and global management and operations. Mr. Goodburn meets the definition of an “Audit Committee Financial Expert” as established by the Securities and Exchange Commission.
Background
àC.H. Robinson Worldwide, Inc. (Nasdaq: CHRW)
Director (2022 – Present)
àKPMG International, a multinational professional services firm
Senior Advisor to KPMG LLP (2021 – 2023)
Chairman and Global Head of Consulting and Deal Advisory (2011 – 2021)
Global Head of Strategic Investments and Innovation (2018 – 2021)
Vice Chairman of KPMG LLP and Americas Head of Advisory and Strategic Investments (2005 – 2011)
Various roles of increasing responsibility, including as Managing Partner-Silicon Valley Office, Member of KPMG US and Americas Board of Directors, and Global Head of KPMG’s Technology, Media and Telecommunications (1984 – 2005)
àOther Experience
Advisor to venture capital and private equity firms
Advisor to high growth services and technology-based companies
Presidents National Advisory Council member, Minnesota State University
Executive Board member, Cox School of Business, Southern Methodist University
Public Board Experience
àNone
Education
àBachelor of Science in Business, Minnesota State University
àCertified Public Accountant
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Election of Directors
Mary J. Steele Guilfoile
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INDEPENDENT
(Director Nominee)
Age: 70
Director Since:
October 2012
Committees:
àGovernance
àTalent & Compensation (Chair)
Mary J. Steele Guilfoile, 66 years old, joined C.H. Robinson as a director in 2012. Ms. Guilfoile is chairman of MG Advisors, Inc., a privately owned financial services merger and acquisition advisory and consulting services firm. Prior to joining MG Advisors in 2002, Ms. Guilfoile spent twelve years with JP Morgan Chase (NYSE: JPM) and its predecessor companies, Chase Manhattan Corporation and Chemical Banking Corporation, as executive vice president, corporate treasurer, and chief administrative officer for its investment bank, and various merger integration, executive management, and strategic planning positions. Ms. Guilfoile currently serves on the boards of The Interpublic Group of Companies (NYSE: IPG), where she is chairman of the Audit Committee, as well as Dufry AG (Six Swiss Exchange: DUFN) and Pitney Bowes Inc. (NYSE: PBI), where, on each board, she is a member of the Audit Committee. Ms. Guilfoile earned her Master of Business Administration from Columbia University Graduate School of Business, and her bachelor’s degree from Boston College.
Director Qualifications
Ms. Guilfoile has significant experience and expertise in the areas of corporate mergers and acquisitions, business integration, and financing through her association with the investment banks of several large financial institutions. She also has public board experience through her membership on the boards of, among others, Interpublic, Hudson,Avolta (a Swiss-based company on the Swiss stock exchange), and Pitney Bowes.
Background
àC.H. Robinson Worldwide, Inc. (Nasdaq: CHRW)
Director (2012 – Present)
àMG Advisors, Inc.,a privately-owned financial services merger and acquisition advisory and consulting services firm
Chair (2002 – Present)
àThe Beacon Group, LP,a private equity investment partnership
Partner (1998 – Present)
àJP Morgan Chase (and its predecessor companies, Chase Manhattan Corporation and Chemical Banking Corporation) (NYSE: JPM), a multinational bank
Executive Vice President, Corporate Treasurer (2000 – 2002)
Various leadership roles (1986 – 1996), including as Chief Administrative Officer and Strategic Planning Officer for its investment bank, as well as various merger integration, executive management, and strategic planning positions
àOther Experience
Former Partner, CFO and COO, The Beacon Group, LLC (Private Equity, M&A, and Wealth Management)
Former Consultant, Booz Allen Hamilton
Former Manager in Audit Services, Coopers & Lybrand (now part of PwC)
Public Board Experience
àThe Interpublic Group of Companies (NYSE: IPG)
Director, Chair of the Audit Committee and member of the Corporate Governance and Social Responsibility Committee (2007 – Present)
àPitney Bowes Inc. (NYSE: PBI)
Chair of the Board and member of the Finance Committee and Audit Committee (2018 – Present)
àAvolta AG (formerly known as Dufry AG; publicly traded on the SIX Swiss Exchange)
Director, Chair of the Audit Committee and member of the Nominating Committee (2020 – Present)
Education
àMaster of Business Administration, Columbia University Graduate School of Business
àBachelor of Science in Accounting, Boston College
àCertified Public Accountant

2024 Proxy Statement21

Election of Directors
Jodee A. Kozlak
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INDEPENDENT
BOARD CHAIR
(Director Nominee)
Age: 61
Director Since:
February 2013
Committees:
àGovernance
àTalent & Compensation
Jodee A. Kozlak, 57 years old, joined C.H. Robinson as a director in 2013. Ms. Kozlak is the founder and CEO of Kozlak Capital Partners, LLC, a private consulting firm. Prior to this role, Ms. Kozlak served as the global senior vice president of human resources of Alibaba Group (NYSE: BABA) from February 2016 to November 2017. Prior to joining Alibaba Group, Ms. Kozlak was at Target Corporation (NYSE: TGT) beginning in January 2001, where she served in a variety of legal and leadership roles, including as the executive vice president and chief human resources officer from March 2007 through February 2016. Prior to joining Target in 2001, Kozlak was a partner in the litigation practice of Greene Espel, PLLP, a Minnesota law firm, and a senior auditor at Arthur Andersen & Co, both in Minneapolis. Ms. Kozlak serves as a board member of K.B. Home (NYSE: KBH), MGIC Investment Corp. (NYSE: MTG), and Leslies, Inc. (Nasdaq: LESL). She is a past fellow of the Distinguished Careers Institute (DCI) at Stanford University, received a B.A. degree in Accounting from the College of St. Thomas and earned her Juris Doctor degree from the University of Minnesota.
Director Qualifications
Through her human resources executive leadership at Target and Alibaba Group and extensive public board experience, Ms. Kozlak has developed significant knowledge and expertise in human capital strategy, global operations, and digital transformation. Her experience on the boards of K.B. Home, MGIC Investment Corp., and Leslie’s, Inc. has also given her a deep understanding of executive compensation and governance within a public company.
Background
àC.H. Robinson Worldwide, Inc. (Nasdaq: CHRW)
Chair of the Board (2023 – Present)
Director (2013 – Present)
àKozlak Capital Partners, LLC, a strategic advisory firm
Founder and CEO (2017 – Present)
àAlibaba Group (NYSE: BABA), a multinational conglomerate specializing in ecommerce, retail, internet, and technology
Global Senior Vice President of Human Resources (2016 – 2017)
àTarget Corporation (NYSE: TGT), one of the largest U.S. retailers
Executive Vice President and Chief Human Resources Officer (2006 – 2016)
Senior Vice President, Human Resources (2004 – 2006)
General Counsel, Owned Brand Sourcing and Labor & Employment
(2001 – 2004)
àOther Experience
Chair of the Board of Trustees, University of St. Thomas
Former Partner in the litigation practice, Greene Espel, PLLP
Former Senior Auditor, Arthur Andersen & Co.
Past fellow, Distinguished Careers Institute (DCI) at Stanford University
Public Board Experience
àK.B. Home (NYSE: KBH)
Director and member of the Management Development Compensation Committee (2021 – Present)
àMGIC Investment Corp. (NYSE: MTG)
Director, Chair of the Business Transformation and Technology Committee and member of the Management Development, Nominating and Governance Committee (2018 – Present)
àLeslie’s, Inc. (Nasdaq: LESL)
Former Director, Chair of the Nominating and Corporate Governance Committee and member of the Compensation Committee (2020 – 2023)
Education
àJuris Doctor, University of Minnesota
àBachelor of Arts in Accounting, College of St. Thomas

2021 Proxy Statement22
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7

PROPOSAL ONE: ELECTION OF DIRECTORS

Election of Directors
Henry J. Maier
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INDEPENDENT
(Director Nominee)
Age: 70
Director Since:
February 2022
Committees:
àCapital Allocation and Planning
àGovernance
Brian P. Short, 71
Director Qualifications
Throughout his career at FedEx and 40 years old,of experience in the transportation industry, Mr. Maier gained significant experience and expertise in the areas of capital markets, corporate governance, and logistics. Mr. Maier also has beenrelevant public company board experience through his membership on the boards of CalAmp, Carparts.com, and Canadian Pacific Kansas City Limited.
Background
àC.H. Robinson Worldwide, Inc. (Nasdaq: CHRW)
Director (2022 – Present)
àFedEx Corp. (NYSE: FDX), a directormultinational conglomerate holding company focused on transportation, ecommerce, and business services
President and Chief Executive Officer of FedEx Ground (2013 – 2021)
Executive Vice President, Strategic Planning and Communication of FedEx Ground (2009 – 2013)
Senior Vice President, Strategic Planning and Communications (2006 – 2009)
Various other roles, including as a member of the company since 2002. He is chief executive officerStrategic Management Committee and leadership positions in logistics, sales, marketing, and communications
Public Board Experience
àCalAmp Corp. (Nasdaq: CAMP)
Independent Chair of Leamington Co., a holding company with interests in transportation, community banking, agricultural production, and real estate. Leamington operates AMMF, St. Paul Flight Center, Inc., First Farmers & Merchants Banks, and Benson Parking Services, Inc. Mr. Short also serves as a legal mediator and previously served as a United States Magistrate. His community service has included service on the Board, member of Directorsthe Governance and Nominating Committee and Human Capital Committee (2021 – Present)
àCarParts.com, Inc. (Nasdaq: PRTS)
Director and member of Catholic Charities, St. Joseph's Home for Children, Saint Thomas Academy, Allina Hospitalsthe Nominating and Clinics, William Mitchell CollegeCorporate Governance Committee (2021 – Present)
àCanadian Pacific Kansas City Limited (NYSE: CPKC; merged with Kansas City Southern in 2023)
Director and member of Law,the Management Resources and Compensation Committee and the St. Francis Mission Foundation.Integration Committee (2023 – Present)
àKansas City Southern (NYSE: KSU; no longer publicly traded)
Former Director, Chair of the Compensation & Organization Committee, member of the Finance & Strategic Investment Committee (2017 – 2023)
Education
àBachelor of Arts in Economics, University of Michigan
2024 Proxy Statement23

Election of Directors
Michael H. McGarry
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INDEPENDENT
(Director Nominee)
Age: 66
Director Since:
Nominee
Committees: None
Director Qualifications
Mr. McGarry's over 40 years of experience at PPG Industries, Inc. gives him a wealth of experience in leading and managing the strategy, operations, and finances of a global company. He has expertise in, among other areas, global manufacturing and logistics, public company accounting, and business transformation through acquisition and integration. Mr. McGarry also has past public company board experience on PPG's board and at Axiall Corporation. He currently serves on the public company boards of United States Steel Corporation and Shin Etsu Chemical (a Japanese company traded on the Tokyo Stock Exchange).
Background
àPPG Industries, Inc. (NYSE: PPG),a global leader in paints and coatings
Executive Chairman (January 1, 2023 – October 1, 2023) as part of a succession process)
Chairman and Chief Executive Officer (2016 – 2022)
President and Chief Executive Officer (2015 – 2016)
President and Chief Operating Officer (2015)
Executive Vice President (2012 – 2014)
Senior Vice President of Commodity Chemicals (2008 – 2012)
Other roles of increasing responsibility, including as managing director, PPG Europe; Vice President, coatings, Europe; and Vice President, chlor-alkali and derivatives.
Began career at PPG in 1981
àOther Experience
Chairman, American Coatings Association (ACA)
Public Board of DirectorsExperience
àUnited States Steel Corporation (NYSE: X)
Director and member of the Archdiocese of St. PaulAudit Committee and Minneapolis, the Advisory Council to the Law Schoolmember of the Compensation & Organization Committee (2019 – Present)
àShin Etsu Chemical Co., Ltd. (publicly traded on the Tokyo Stock Exchange)
Director and member of the Officers’ Remuneration Committee (2022 – Present)
àPPG Industries, Inc. (NYSE: PPG)
Former Director (2015 – 2023)
àAxiall Corporation (NYSE: AXLL; no longer publicly traded)
Former Director, (2013 – 2016)
Education
àAdvanced Management Program, Harvard Business School
àBachelor of Science in Mechanical Engineering, University of Notre DameTexas
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Election of Directors
Paige K. Robbins
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INDEPENDENT
(Director Nominee)
Age: 55
Director Since:
Nominee
Committees: None
Director Qualifications
Throughout her career, Ms. Robbins has gained extensive public company and senior management experience. In her leadership roles at Grainger, she has developed expertise in sales and marketing, operations, technology, the global supply chain, and logistics, among other areas. Her prior experience as a partner and managing director at the Boston Consulting Group with a focus on Industrial Goods companies, gives her a deep understanding of business growth, profit improvement, supply chain, merger and acquisition strategies, and business transformation.
Background
àW.W. Grainger, Inc. (NYSE: GWW), a leading broad line distributor with operations primarily in North American, Japan, and the United Kingdom
Senior Vice President and President, Grainger Business Unit (2021 – Present)
Senior Vice President, Chief Technology, Merchandising, Marketing and Strategy Officer (2019 – 2021)
Senior Vice President, Chief Merchandising, Marketing, Digital, Strategy Officer (2019)
Senior Vice President, Chief Digital Officer (2017 – 2019)
Senior Vice President, Global Supply Chain, Branch Network, Contact Centers and Corporate Strategy (2015 – 2017)
Other Vice President roles of increasing responsibility, in the areas of Global Supply Chain and Logistics (2010 – 2015)
àThe Boston Consulting Group, a business strategy and management consulting firm
Partner and Managing Director (2004 – 2010)
Roles of increasing responsibility from Associate Consultant to Vice President and Director (1992 2004)
Public Board Experience
àNone
Education
àMaster of GovernorsBusiness Administration, Harvard University
àMaster of the Law SchoolScience in Industrial Engineering, Stanford University
àBachelor of theScience in Industrial Engineering, Stanford University of St. Thomas. Mr. Short has an undergraduate degree in economics from the University of Notre Dame and is also a graduate of its law school.
2024 Proxy StatementMr. Short25

Election of Directors
Paula C. Tolliver
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INDEPENDENT
(Director Nominee)
Age: 59
Director Since:
October 2018
Committees:
àAudit
àCapital Allocation and Planning
Director Qualifications
Ms. Tolliver has significantdeveloped broad multi-national executive and leadership experience as a senior leader at both Dow and Intel. She has deep expertise in particular, hasinformation technology, digital transformation, advanced analytics, and cybersecurity, as well as demonstrated experience in the trucking industry through his leadership position at AMMF, a truckingdriving innovation, growth, and transportation services company. In addition, with Mr. Short’s legal backgroundoperational excellence. Ms. Tolliver has relevant public company board experience and experience, he provides valuable insight into the company’s enterprise risk management areas. Mr. Short meets the definition of an “Audit Committee Financial Expert” as established by the Securities and Exchange Commission.

James B. StakeBackground
(Director Nominee)
James B. Stake, 68 years old, joined àC.H. Robinson asWorldwide, Inc. (Nasdaq: CHRW)
Director (2018 – Present)
àTech Edge, LLC, a director in 2009. Mr. Stake retired from 3M Company (NYSE: MMM) in 2008, where he last served as executive vice president of 3M's Enterprise Services, technology consulting firm
Founder and Principal (2020 – Present)
àSyniti,a sharedpioneering data software and services organization. He served in a variety of leadership positions at 3M, leading global health care, industrial,company
Director and commercial businesses ranging in size from $100 million to over $3 billion. During his career he served over 12 years of foreign assignments in Europe and South America. In addition to his career at 3M, Mr. Stake serves as a board member and chairs the compensation committee for Otter Tail Corporation (Nasdaq: OTTR), is chairman of the board for privately held Ativa Medical Corp., and has taught as an adjunct professor at the University of Minnesota’s Carlson School of Management. Mr. Stake holds a Bachelor of Science in Chemical Engineering from Purdue University and a Master of Business Administration from the Wharton School at the University of Pennsylvania.
Throughout his career at 3M Company, Mr. Stake gained extensive public company senior management experience at a large company that operates worldwide. In particular, Mr. Stake’s foreign leadership positions and his position with Enterprise Services, provide valuable perspective for C.H. Robinson's international operations and its information technology systems. Mr. Stake also has prior public company board experience with Otter Tail. Mr. Stake meets the definition of an “AuditTechnology Committee Financial Expert” as established by the Securities and Exchange Commission.

(2020 – Present)
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PROPOSAL ONE: ELECTION OF DIRECTORS

Paula C. Tolliver
(Director Nominee)
Paula C. Tolliver, 56 years old, joined C.H. Robinson as a director in 2018. Ms. Tolliver previously served as corporate vice president and chief information officer at àIntel Corporation (Nasdaq: INTC), a multinational technology company from August 2016 to September 2019. Prior to joining Intel in 2016, Ms. Tolliver served as corporate vice president of Business Services
Corporate Vice President and chief information officer at Chief Information Officer (2016 – 2019)
àThe Dow Chemical Company (a wholly owned subsidiary of Dow, Inc.) (NYSE: DOW)) from , a global materials science leader in packaging, infrastructure, and consumer care
Corporate Vice President of Business Services and Chief Information Officer
(2012 to 2016. Ms. Tolliver also led a services business for– 2016)
Vice President, Procurement (2006 – 2011)
Chief Information Officer and Chief Digital Officer of Dow Chemical, in addition to holding a variety ofAgroScience (2000 – 2006)
Various other roles of increasing responsibility in her 20 plus years withInformation Technology including as Europe Information Services Director (1996 – 2000)
Public Board Experience
àInvesco (NYSE: IVZ)
Director and member of the company. She earned a bachelor’s degreeNomination and Corporate Governance Committee, Compensation Committee and Audit Committee (2021 – Present)
Education
àBachelor of Science in Business Information Systems and Computer Science, from Ohio University.University
26Ms. Tolliver
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Election of Directors
Henry W. “Jay” Winship
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INDEPENDENT
(Director Nominee)
Age: 56
Director Since:
February 2022
Committees:
àCapital Allocation and Planning (Chair)
àTalent & Compensation
Director Qualifications
Mr. Winship has significant experience and expertise in the areas of information technologycapital allocation, finance and innovation. Sheaccounting, mergers and acquisitions, corporate governance, and logistics. He is an active portfolio manager, which provides our Board with valuable insights from an institutional investor perspective. Mr. Winship also has demonstratedpublic board experience through his membership on the ability to successfully lead a service business. Ms. Tolliver meetsboard of Bunge Limited, and his prior membership on the definitionboards of an “Audit Committee Financial Expert” as established by the SecuritiesCoreLogic and Exchange Commission.
Esterline Technologies.

BOARD VOTING RECOMMENDATION
The Board of Directors recommends a vote FOR the election of Scott P. Anderson, Robert C. Biesterfeld Jr., Kermit R. Crawford, Wayne M. Fortun, Timothy C. Gokey, Mary J. Steele Guilfoile, Jodee A. Kozlak, Brian P. Short, James B. Stake, and Paula C. Tolliver as directors of
Background
àC.H. Robinson Worldwide, Inc. (Nasdaq: CHRW)
Director (2022 – Present)
àPacific Point Companies,a privately owned asset management firm
Founder, President and Managing Member of Pacific Point Capital LLC
(2016 – Present)
Founder and Managing Member of Pacific Point Advisors, LLC
(2016 – Present)
àRelational Investors LLC, an activist investment fund
Principal, Senior Managing Director and Investment Committee member
(1996 – 2015)
àOther Experience
Advisor, Corporate Governance Institute at San Diego State University Fowler College of Business
Public Board Experience
àBunge Limited (NYSE: BG)
Director, Chair of the Audit Committee and member of the Corporate Governance and Nominations Committee and Human Resources and Compensation Committee (2018 – Present)
àCoreLogic, Inc. (NYSE: CLGX; no longer publicly traded)
Former Director and member of the Nominating and Corporate Governance Committee and Strategic Planning and Acquisition Committee (2020 – 2021)
àEsterline Technologies Corporation (NYSE: ESL; no longer publicly traded)
Former Director and member of the Compensation Committee and Strategy and Technology Committee (2012 – 2015)
Education
àMaster of Business Administration, University of California, Los Angeles
àBachelor of Business Administration in Finance, University of Arizona
àCertified Public Accountant
àChartered Financial Analyst

20212024 Proxy Statement
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PROPOSAL ONE: ELECTION OF DIRECTORS

Election of Directors
BOARD OF DIRECTORS GOVERNANCE MATTERSBoard Nomination Process
The Governance Committee determines the selection criteria and qualifications of director nominees based upon the needs of the company. The Board of Directors (orbelieves that the “Board”) has a policy that all directors should possess the highest personal and nominees nominated for election atprofessional ethics and integrity and be committed to representing the Annual Meeting are expected to attend the Annual Meeting. In 2020, alllong-term interests of the director nominees who were directors at that time attended the Annual Meeting.
During 2020, the Board of Directors held eight meetings. Each director holding office during the year attended at least 75 percent of the aggregate of the meetings of the Board of Directors (held during the period for which hecompany’s shareholders. Preferred qualifications also include current or she had beenrecent experience as a director)chief executive officer or senior leader and the meetings of the committees of the Board on which he or she served (held during the period for which he or she served onexpertise in a committee).
Our Board of Directors has three committees: the Audit Committee, the Compensation Committee, and the Governance Committee. Currently, members and chairs of these committees are:
Independent DirectorsAuditCompensationGovernance
Scott P. AndersonxChair
Kermit R. Crawfordxx
Wayne M. Fortunxx
Timothy C. Gokeyxx
Mary J. Steele Guilfoilexx
Jodee A. KozlakChairx
Brian P. Shortxx
James B. StakeChairx
Paula C. Tolliverxx
Board Leadership Structure
In 2019, the Board amended our Corporate Governance Guidelines to provide that the Board will appoint a lead independent director any time that the chairman of the board is not independent, and it described the duties of the lead independent director. The Board appointed Scott P. Anderson to serve as lead independent director beginning in May 2019. In May 2020, Mr. John P. Wiehoff retired from the Board of Directors and Mr. Anderson began serving as the chairman of the Board of Directors,particular business discipline, as well as the Chairdiversity of the Governance Committee.
Our Corporate Governance Guidelinestalent, experience, accomplishments, and perspective. Directors should be able to provide that the chairman, in consultation with other Board members, sets the agenda for regular meetings of the Board,insights and the chair of each committee is responsible for the agendas for the meetings of the applicable committee. Directors and committee members are encouraged to suggest agenda items and may raise other matters at meetings.
We believe that our leadership structure supports the Board’s risk oversight function. Strong independent directors with significant tenure on the Board chair the committees most directly involved in the risk oversight function, there is open communication between management and the Board, and all directors are involved in the risk oversight function.
Risk Oversight
The Board is actively involved in the oversight of risks that could affect the company. This oversight is conducted primarily through the Audit Committee. The Audit Committee Charter establishes that one of the responsibilities of the Audit Committee is to review the key risks or exposures and assess the steps management has taken to minimize such risk on an annual basis. Management is responsible for our Enterprise Risk Management ("ERM") program, which includes key risk identification, mitigation efforts, day-to-day management, and communication to the Audit Committee. The ERM program allows the company to evaluate risks and their potential impact to the companypractical wisdom based on multiple factors, including but not limited to business conditions, company capabilities,their experience and risk tolerance. The ERM program is facilitated by the company's Internal Audit Department and consists of identifying and classifying risks, enlisting risk owners, facilitating risk mitigation efforts, and communicating results to senior management and the Audit Committee. Changes in the company’s risk profile may also be identified through routine internal audits and ongoing discussions with members of the company's operational staff and management. A significant component of the ERM program is the annual risk assessment. The annual assessment includes interviews of various key personnel and risk owners within the company, as well as with members of the Audit Committee. The results of the annual risk assessment are presented to the Auditexpertise.
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2021 Proxy Statement

PROPOSAL ONE: ELECTION OF DIRECTORS

Committee. The Audit Committee provides periodic risk assessment updates to the Board and solicits input from the Board regarding the company’s risk management practices. In addition, the Compensation Committee periodically reviews the company’s compensation programs to ensure that they do not encourage excessive risk-taking. Additional review or reports on enterprise risks are conducted as needed by the Board or the committees.

The Audit Committee
All of our Audit Committee members are “independent” under applicable Nasdaq listing standards and Securities and Exchange Commission rules and regulations. Our Board of Directors has determined that all five members of the Audit Committee, Messrs. Anderson, Gokey, Short, and Stake, and Ms. Tolliver, meet the definition of an “Audit Committee Financial Expert” as established by the Securities and Exchange Commission. The Audit Committee assists the Board of Directors in fulfilling its oversight responsibilities relating to the quality and integrity of the financial reports of the company. The Audit Committee has the sole authority to appoint, review, and discharge our independent auditors, and has established procedures for the receipt, retention, and response to complaints regarding accounting, internal controls, or audit matters. In addition, among other responsibilities in the Audit Committee Charter, the Audit Committee is responsible for:
(1)Reviewing the scope, timing, and costs of the audit with the company's independent registered public accounting firm and reviewing the results of the annual audit;
(2)Assessing the independence of the outside auditors on an annual basis, including receipt and review of a written report from the independent auditors regarding their independence consistent with applicable rules of the Public Company Accounting Oversight Board;
(3)Reviewing and approving in advance the services provided by the independent auditors;
(4)Overseeing the internal audit function;
(5)Reviewing the company’s significant accounting policies, financial results, and earnings releases and the adequacy of our internal controls and procedures;
(6)Reviewing the risk management status of the company, including cybersecurity risks; and
(7)Reviewing and approving related-party transactions.
The Audit Committee held eight meetings during 2020. The Audit Committee has engaged Deloitte & Touche LLP as the independent auditor for fiscal year 2021 and is recommending that the company’s shareholders ratify this appointment at the Annual Meeting. The report of the Audit Committee is found on page 44 of this Proxy Statement.
The Compensation Committee
All of our Compensation Committee members are “independent” under applicable Nasdaq listing standards and Internal Revenue Service and Securities and Exchange Commission rules and regulations. The Compensation Committee has oversight responsibilities relating to executive compensation, employee compensation and benefits programs and plans, and succession and leadership development. In addition, among other responsibilities in the Compensation Committee Charter, the Compensation Committee is responsible for:
(1)Reviewing the performance of the chief executive officer;
(2)Determining all elements of the compensation and benefits for the chief executive officer and other executive officers of the company;
(3)Reviewing and approving the company’s compensation program, including equity-based plans, for management employees generally;
(4)Overseeing the company’s process of conducting advisory shareholder votes on executive compensation; and
(5)Reviewing executive officers’ employment agreements; separation and severance agreements; change in control agreements; and other compensatory contracts, arrangements, and benefits.
The Compensation Committee held eight meetings during 2020. See 2020 Compensation Discussion and Analysis beginning on page 16 including Section VI, Compensation Process, beginning on page 26, for a discussion of the role
2021 Proxy Statement
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PROPOSAL ONE: ELECTION OF DIRECTORS

played by our chief executive officer in compensation decisions. The Compensation Committee report on executive compensation is found on page 39 of this Proxy Statement.
The Governance Committee
All members of our Governance Committee are “independent” under applicable Nasdaq listing standards. The Governance Committee serves in an advisory capacity to the Board of Directors on matters of organization and the conduct of Board activities. Among other responsibilities in the Governance Committee Charter, the Governance Committee is responsible for:
(1)Periodically reviewing and making recommendations to the Board as to the size, diversity, and composition of the Board and criteria for director nominees;
(2)Identifying and recommending candidates for service on the Board;
(3)Reviewing and revising the company’s Corporate Governance Guidelines, including recommending any necessary changes to the Corporate Governance Guidelines to the Board;
(4)Leading the Board in an annual review of the performance of the Board and the Board committees;
(5)Making recommendations to the Board regarding Board committee assignments;
(6)Making recommendations to the Board on whether each director is independent under all applicable requirements;
(7)Making recommendations to the Board with respect to the compensation of non-employee directors;
(8)Periodically reviewing with the company’s chief legal officer developments that may have a material impact on the company’s corporate governance programs, including related compliance policies; and
(9)Reviewing, at least annually, the company’s policies, practices, performance, disclosures, and progress toward goals with respect to significant issues of Environmental, Social, and Governance, including the alignment of such efforts with the Company’s overall strategy.
The Governance Committee considers Board of Director nominees recommended by shareholders. The process for receiving and evaluating these nominations from shareholders is described below under the caption “Nominations.”
The Governance Committee held three meetings during 2020.
The charters for each of the Committees of the Board of Directors, our Corporate Governance Guidelines, and our company’s Code of Ethics, which are all a part of our Corporate Compliance Program, are posted under the Governance section of the Investors page of our website at www.chrobinson.com.
Shareholder Communications with Board
C.H. Robinson shareholders and other interested parties may send written communications to the Board of Directors or to any individual director by mailing it to C.H. Robinson Worldwide, Inc., Board of Directors, c/o C.H. Robinson Corporate Secretary, 14701 Charlson Road, Suite 1200, Eden Prairie, MN 55347. These communications will be compiled by the corporate secretary and periodically submitted to the Board or individual director.
NominationsNominee Recommendations
The Governance Committee considers director nominee recommendations from a wide variety of sources, including members of the Board of Directors, business contacts, community leaders, and members of management. The Governance Committee will also consider shareholder recommendations for director nominees using the same selection criteria and qualifications as nominees identified by other sources, as described below. The Governance Committee may also engage search firms to assist in the director recruitment process. The table below outlines the typical director nomination process when the Board of Directors seeks to identify a new candidate for the Board.
Director Nomination Process
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The Governance Committee initially evaluates a prospective nominee based on his or her resume and other background information that has been provided to the Governance Committee.For further review, a member of the Governance Committee will contact those candidates whom the Governance Committee believes are qualified, may fulfill a specific need of the Board of Directors, and would otherwise best contribute to the Board of Directors.Based on the information the Governance Committee learns during this process, it determines which nominee(s) to recommend to the Board of Directors to submit for election.
The Governance Committee determinesuses the selection criteria and qualifications of directorsame process for evaluating all nominees, based upon the needsregardless of the company. Thesource of the nomination.
Any shareholder interested in presenting a nomination for consideration by the Governance Committee prior to the 2025 Annual Meeting should do so as early as possible to provide adequate time to consider the nominee and comply with our Bylaws. See “Shareholder Nominations,” below, for more details.
Ancora Letter Agreement
On December 29, 2023, the company entered into a letter agreement with Ancora Catalyst Institutional, LP and its affiliates party thereto (“Ancora”). Pursuant to the terms of the letter agreement, the Board of Directors believesacknowledged that theit will renominate current directors should possess the highest personalMessrs. Winship and professional ethics and integrity and be committed to representing the long-term interests ofMaier for election at the company’s shareholders. Preferred qualifications also include current2024 Annual Meeting, and Ancora agreed that, provided the company renominates Messrs. Winship and Maier, it will not nominate any individuals for election to the Board, make any other proposals, or recent experience as a chief executive officer or senior leadership and expertiseengage in a particular business discipline. Directors should be able to provide insights and practical wisdom based on their experience and expertise. The company is committed to diversity and inclusion. Corporate Governance Guidelinesany solicitation of proxies in connection with the 2024 Annual Meeting.
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2021 Proxy Statement

PROPOSAL ONE: ELECTION OF DIRECTORS

Election of Directors
provide, and the Governance Committee believes, that creating a board with a diversity of gender, ethnicity, background, talent, experience, accomplishments, and perspectives is in the best interests of the company and our shareholders. The company is committed to considering candidates for the Board, regardless of gender, ethnicity, and national origin. Any search firm retained to assist the Governance Committee in seeking director candidates is instructed to consider these commitments.Shareholder Nominations
Shareholders who would like to directly nominate a director candidate must give written notice to the company’s corporate secretary, either by personal delivery or by United States mail, at the following address: 14701 Charlson Road, Eden Prairie, MN 55347. The shareholder’s notice must be received by the corporate secretary no later than (a) 90 days before the anniversary date of the previous year’s Annual Meeting or (b) the close of business on the tenth day following the date on which notice of a special meeting of shareholders for election of directors is first given to shareholders. Accordingly, nominations for the 20222025 Annual Meeting must be received by February 5, 2022,8, 2025, unless the alternative deadline is triggered. For each proposed nominee, the shareholder’s notice must comply with and include all information that is required to be disclosed under our Bylaws, any applicable Securities and Exchange Commission rules and regulations, and any applicable laws. The written notice must also include a written consent of the proposed nominee, agreeing to stand for election if nominated by the Governance Committee, and to serve as a director if appointed by the Board of Directors. The shareholder’s notice must also include:
(1)1.The name and address of the shareholder making the nomination;
(2)2.The number of C.H. Robinson shares entitled to vote at the meeting held by the shareholder;
(3)3.A representation that the shareholder is a holder of record of C.H. Robinson Common Stockcommon stock entitled to vote at the meeting and intends to appear in person or by proxy at the meeting to nominate the person named in the notice; and
(4)4.A description of all arrangements or understandings between the shareholder and each nominee.
In addition, to comply with the universal proxy rules, shareholders who intend to solicit proxies in support of director nominees other than the company’s nominees must provide notice that sets forth the information required by Rule 14a-19 under the Securities Exchange Act of 1934 no later than March 10, 2025.
Proxy Access
We also provide shareholders with a “proxy access” right that entitles shareholders meeting certain eligibility requirements to include nominees for director in our proxy statement. The proxy access right entitles a shareholder, or group of up to 20 shareholders, owning at least 3 percent3% of our outstanding shares of Common Stockcommon stock continuously for at least three years to nominate and include in our proxy statement director nominees constituting up to the greater of two individuals or 20 percent20% of the Board of Directors. The shareholder’s notice must be delivered to the company’s corporate secretary as set forth above and must be received by the corporate secretary no earlier than 150 days, and no later than 120 days, before the anniversary date of the mailing of the previous year’s proxy statement, unless an alternative deadline under our Bylaws is triggered. Accordingly, nominations for inclusion in our proxy statement for the 20222025 Annual Meeting must be received no earlier than October 24, 2021,27, 2024, and no later than November 23, 2021,26, 2024, unless an alternative deadline is triggered. In addition, the shareholder’s notice must comply with the information requirements described above for other direct nominations of director candidates, as well as the additional notice and information requirements described in our Bylaws.
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Election of Directors
Over-Boarding Policy
Our directors are expected to devote sufficient time to fulfill their responsibilities effectively. The Board has adopted limits on the number of public company boards on which directors may serve unless the Board approves an exception. Directors who serve as executive officers of public companies may not serve on more than two public company boards, consisting of the board of directors of the director’s employer and one additional public company board. Other directors may not serve on more than a total of four public company boards, including our Board. Directors are required to advise the Chair of the Governance Committee initially evaluatesprior to accepting a prospective nominee basedposition on the board of another for-profit company, whether public or private, so we can assess any potential conflicts of interest. As a result, the Board monitors compliance with our policy through both the prior notice requirement and an annual questionnaire process.
Director Independence
Our Board of Directors is comprised of 11 independent directors and 1 non-independent director who is not independent solely by virtue of his service as our CEO. Accordingly, we are in compliance with the Nasdaq listing standards requirement that a majority of Board members must be independent. For additional information on how we made this independence determination for our directors and nominees, see "Proposal 1: Election of Directors” on page 13.
Our Board of Directors is elected annually using a majority voting standard for any uncontested director election. This means that a director is elected if the number of votes cast “for” the director’s election exceeds the number of votes cast “against” that director, provided that a quorum is present.
If any incumbent director fails to receive a majority vote in an uncontested election, the director is required to tender his or her resume and other background information that has been providedresignation, subject to acceptance by the Board. Our Governance Committee will make a recommendation to the committee. A memberBoard on whether to accept the resignation, and the Board will act upon such resignation within 90 days from the date the election results are certified and then publicly disclose its determination. The director who tenders his or her resignation will not participate in the recommendation or decision with respect to his or her resignation.
In the event of a contested election in which the number of nominees exceeds the number of directors to be elected, directors would be elected using a plurality voting standard. The plurality voting standard means that the nominees receiving the most affirmative votes would be elected to our Board.
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Corporate Governance
Introduction
Comprehensive Governance Practices
Our Board’s oversight of the development and implementation of our corporate strategy is supported by C.H. Robinson’s robust governance practices, policies, and procedures. Ensuring that our governance practices are aligned with our stakeholders’ concerns and objectives is a high priority for us and to that end, we regularly engage with our stakeholders. See “Stakeholder Engagement” on page 10 for more information on how we seek feedback from our stakeholders. To facilitate continual improvement and effectiveness, the Board is also committed to maintaining its independent oversight and ensuring that its membership consists of the appropriate skill sets and range of experience.
The highlights outlined below are evidence of our commitment to a strong corporate governance structure, comprehensive policies and procedures that support that structure, and a strong tone at the top.
Corporate Governance Highlights
Active, Independent Board
11 of 12 directors are independent
Executive sessions of independent directors held at each regularly scheduled meeting
Independent Board Chair
Independent Audit Committee, Governance Committee, and Talent & Compensation Committee
High rate of attendance at Board and committee meetings
Complete access to management
Access to outside advisors at the company’s expense
Robust Corporate Governance
Board review of company strategy on at least an annual basis
Active Board involvement in management succession planning
Robust Board oversight on ESG matters
Comprehensive and strategic approach to enterprise risk management
Declassified Board
Majority vote standard in uncontested elections
Commitment to Board refreshment with five new directors in the past two years
Shareholder Rights
Proxy access right
No poison pill
Proactive investor outreach program
Annual election of all directors
Plurality vote standard in contested elections
Annual “say-on-pay” vote
Board and Management Checks and Balances
Prohibition on pledging and hedging
Stock ownership guidelines for directors and management
Annual Board and Committee self-evaluation
Clawback policy compliant with new Securities and Exchange Commission and Nasdaq rules
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Corporate Governance
Board Meetings and Attendance
The Board of Directors has a policy that all directors and nominees nominated for election at the Annual Meeting are expected to attend the Annual Meeting. In 2023, all of the director nominees who were directors at that time attended the Annual Meeting.
During 2023, the Board of Directors held 10 meetings. Each director holding office during the year attended at least 75% of the aggregate meetings of the Board (held during the period for which he or she was a director) and the meetings of the committees of the Board on which he or she served (held during the period for which he or she served on a committee).
Engaged and Active Board of Directors
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Board of Director meetings in 2023All directors attended at least 75% of 2023 Board and committee meetings100% Director nominee attendance at the 2023 Annual MeetingEach 2023 regularly scheduled Board meeting also included a non-management director executive session
More than Meetings
Our Board members are committed to oversight both during meetings and outside of meetings. For example, prior to each committee will contactor Board meeting, each committee Chair meets with key management members and subject matter experts to coordinate and plan the meeting agenda. This cooperation ensures that key topics are covered and that the Board at large and each committee executes on its core responsibilities. In addition, our directors have unlimited access to our management and regularly meet with them on individual and group bases to discuss topics such as strategy, operations, risk, and talent management. As an illustration, our Audit Committee Chair recently participated with our senior leadership team in an onsite cybersecurity ransomware tabletop exercise with outside consultants.
To provide our directors with additional insights and perspectives on the company’s performance, leadership, and strategic direction, the directors also receive education at our quarterly Board and committee meetings. Both internal experts and outside consultants present information to ensure our Board members have the requisite knowledge to effectively carry out their responsibilities. We maintain a subscription to the National Association of Corporate Directors (NACD) for further review those candidates whomour board members, and directors are encouraged to participate in continuing education programs sponsored by universities, stock exchanges, or other organizations or consultants specializing in director education. Directors may attend continuing education programs at the committeecompany’s expense.
Committee Charters and Governance Documents
The charters for each of the required committees of the Board of Directors, our Corporate Governance Guidelines, and our company’s Code of Ethics, which are all a part of our Corporate Compliance Program, are posted under the Governance section of the Investors page of our website at investor.chrobinson.com. Each of our committees reviews its charter on an annual basis to assess its adequacy and effectiveness and then recommends any proposed changes to the Board for approval. Our Corporate Governance Guidelines are reviewed by our Board and the Governance Committee on a regular basis to determine whether any revisions are advisable based on stakeholder feedback, changes in rules or regulations, or updated best governance practices.
Certain sections of this Proxy Statement reference or refer you to materials on our website at www.chrobinson.com. These materials are not incorporated by reference in, and are not a part of, this Proxy Statement.
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Corporate Governance
Board Structure
Board Leadership Structure
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Jodee A. Kozlak
Independent Chair of the Board
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Dave P. Bozeman
President and CEO
INDEPENDENT COMMITTEE CHAIRS
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Mark A. Goodburn
Audit Committee
Henry W. “Jay” Winship
Capital Allocation and Planning Committee
Kermit R. Crawford
Governance Committee
Mary J. Steele Guilfoile
Talent & Compensation Committee
The positions of Chief Executive Officer (“CEO”) and Chair of the Board of Directors (“Board chair”) are held by two different individuals. Mr. Bozeman serves as our CEO and Ms. Kozlak, an independent director who has served on the Board since 2013, serves as the independent Board chair. This structure allows our CEO to focus on providing daily leadership and oversight of the company’s performance while the Board chair leads the Board in its fundamental role of providing advice to and independent oversight of management. Our Board believes are qualified, who may fulfill a specific needit is important to retain the flexibility to allocate the responsibilities of the Board chair and CEO positions in any manner that it determines to be in the best interests of the company based on the then-current circumstances. We have remained committed to having an independent Board chair to ensure that our Board remains robust and open to outside perspectives during this time of leadership transitions.
Our Corporate Governance Guidelines provide that the Board chair, in consultation with other Board members, sets the agenda for regular meetings of the Board of Directors, and who would otherwise best contributethe chair of each committee is responsible for the agendas for the meetings of the applicable committee. Directors and committee members are encouraged to suggest agenda items and may raise other matters at meetings.
We believe that our leadership structure supports the Board’s risk oversight function. Strong independent directors serve on our Audit Committee—the committee most directly involved in the risk oversight function—and there is open communication between management and the Board, and all directors are involved in the risk oversight function.
2024 Proxy Statement33

Corporate Governance
Board Committees
The Board has four standing committees: the Audit Committee, the Talent & Compensation Committee, the Governance Committee, and the Capital Allocation and Planning Committee. During 2023, the Capital Allocation and Planning Committee was established as a standing committee. Currently, the members and Chairs of these committees are:
DirectorsAuditCapital Allocation and PlanningGovernanceTalent & Compensation
Scott P. Anderson(1)

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James J. Barber, Jr.(1)
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David P. Bozeman
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Kermit R. Crawford(1)
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Timothy C. Gokey(1)
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Mark A. Goodburn(1)
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Mary J. Steele Guilfoile(1)
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Jodee A. Kozlak(1)
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Henry J. Maier(1)
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James B. Stake(1)
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Paula C. Tolliver(1)
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Henry W. “Jay” Winship(1)
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(1)Director is indicated as independent, as defined by Nasdaq Rule 5605(a)(2).
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Member
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Chair
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Corporate Governance
Audit Committee
2023 Meetings: 8
Report: See page 92
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Mark A. Goodburn,
Chair
Other Members:
àJames J. Barber, Jr.
àTimothy C. Gokey
àJames B. Stake
àPaula C. Tolliver
Function: The Audit Committee assists the Board in fulfilling its oversight responsibilities relating to the quality and integrity of the financial reports of the company. The Audit Committee has the sole authority to appoint, review, and discharge our independent auditors, and has established procedures for the receipt, retention, and response to complaints regarding accounting, internal controls, or audit matters.
Key Responsibilities:
Among other responsibilities in the Audit Committee Charter, the Audit Committee is responsible for:
1.Reviewing the scope, timing, and costs of the audit with the company’s independent registered public accounting firm and reviewing the results of the annual audit;
2.Assessing the independence of the outside auditors on an annual basis, including receipt and review of a written report from the independent auditors regarding their independence consistent with applicable rules of the Public Company Accounting Oversight Board;
3.Reviewing and approving in advance the services provided by the independent auditors;
4.Overseeing the internal audit function;
5.Reviewing the company’s significant accounting policies, financial results, and earnings releases and the adequacy of our internal controls and procedures;
6.Reviewing the risk management status of the company, including cybersecurity risks; and
7.Reviewing and approving related-party transactions.
Independence and Financial Expertise:
All of our Audit Committee members are “independent” under applicable Nasdaq listing standards and Securities and Exchange Commission rules and regulations.
The Board has determined that all five members of the Audit Committee, Messrs. Barber, Gokey, Goodburn, and Stake, and Ms. Tolliver, meet the definition of an “Audit Committee Financial Expert” as established by the Securities and Exchange Commission.
Committee Membership Changes:
Mr. Goodburn was appointed Chair of the Audit Committee, effective July 1, 2023, succeeding Mr. Stake.
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Corporate Governance
Capital Allocation and Planning Committee
2023 Meetings: 6
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Henry W. “Jay” Winship,
Chair
Other Members:
àScott P. Anderson
àDavid P. Bozeman
àMark A. Goodburn
àHenry J. Maier
àPaula C. Tolliver
Function: The Capital Allocation and Planning Committee objectively assesses value creation opportunities and supports and makes recommendations to the Board to assist in its and management’s review of, and planning for, the company’s capital allocation, operations and strategy, and enhanced transparency and disclosures to shareholders.
Key Responsibilities:
Among other responsibilities in the Capital Allocation and Planning Committee Charter, the Capital Allocation and Planning Committee is responsible for:
1.Reviewing and evaluating the company’s business and financial strategies and growth opportunities, including performance toward those strategies and opportunities and making recommendations to the Board in respect thereof;
2.Reviewing and making recommendations to the Board regarding the company’s capital allocation, cash flow, technology initiatives, capital expenditures, and financing requirements;
3.Reviewing and making recommendations to the Board regarding potential material mergers, acquisitions, divestitures, and other key strategic transactions; and
4.Reviewing and evaluating the company’s annual operating and capital plans and budgets and making recommendations to the Board based on its findings.
Independence:
While the Capital Allocation and Planning Committee is not subject to particular Nasdaq independence requirements, a majority of the members of our Capital Allocation and Planning Committee are “independent” under applicable Nasdaq listing standards.
Committee Membership Changes:
Mr. Bozeman was appointed to the Capital Allocation and Planning Committee, effective August 10, 2023.
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Corporate Governance
Governance Committee
2023 Meetings: 4
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Kermit R. Crawford,
Chair
Other Members:
àScott P. Anderson
àMary J. Steele Guilfoile
àJodee A. Kozlak
àHenry J. Maier
Function: The Governance Committee identifies for the Board individuals qualified to become Board members, considers nominees recommended by shareholders, and recommends nominees to the Board for election as directors. The Governance Committee also adopts and revises corporate governance guidelines applicable to the company and serves in an advisory capacity to the Board on matters of organization and the conduct of Board activities.
Key Responsibilities:
Among other responsibilities in the Governance Committee Charter, the Governance Committee is responsible for:
1.Periodically reviewing and making recommendations to the Board as to the size, diversity, and composition of the Board and criteria for director nominees;
2.Identifying and recommending candidates for service on the Board;
3.Reviewing and revising the company’s Corporate Governance Guidelines, including recommending any necessary changes to the Corporate Governance Guidelines to the Board;
4.Leading the Board in an annual review of the performance of the Board and the Board committees;
5.Making recommendations to the Board regarding Board committee assignments;
6.Making recommendations to the Board on whether each director is independent under all applicable requirements;
7.Making recommendations to the Board with respect to the compensation of non-employee directors;
8.Periodically reviewing with the company’s Chief Legal Officer developments that may have a material impact on the company’s corporate governance programs, including related compliance policies; and
9.Reviewing, at least annually, the company’s policies, practices, performance, disclosures, and progress toward goals with respect to significant Environmental, Social, and Governance (“ESG”) issues, including the alignment of such efforts with the company’s overall strategy.
Independence:
All members of our Governance Committee are “independent” under applicable Nasdaq listing standards.
Committee Membership Changes:
Mr. Crawford was appointed as the Governance Committee chair, effective January 1, 2023, and Mr. Anderson was appointed to the Governance Committee effective July 1, 2023.
2024 Proxy Statement37

Corporate Governance
Talent & Compensation Committee
2023 Meetings: 7
Report: See page75
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Mary J. Steele Guilfoile,
Chair
Other Members:
àKermit R. Crawford
àTimothy C. Gokey
àJodee A. Kozlak
àHenry W. “Jay” Winship
Function: The Talent & Compensation Committee has oversight responsibilities relating to overall talent strategy, executive compensation, employee compensation and benefits programs and plans, succession and leadership development, and diversity, equity & inclusion.
Key Responsibilities:
Among other responsibilities in the Talent & Compensation Committee Charter, the Talent & Compensation Committee is responsible for:
1.Reviewing the performance of the CEO;
2.Determining all elements of the compensation and benefits for the CEO and other executive officers of the company;
3.Reviewing and approving the company’s compensation program, including equity-based plans, for management employees generally;
4.Reviewing the company’s policies, practices, performance, disclosures, and progress toward goals with respect to significant issues of DEI and human capital management, including the alignment of such efforts with the company’s overall strategy;
5.Overseeing the company’s process of conducting advisory shareholder votes on executive compensation; and
6.Reviewing executive officers’ employment agreements; separation and severance agreements; change in control agreements; and other compensatory contracts, arrangements, and benefits.
Independence:
All of our Talent & Compensation Committee members are “independent” under applicable Nasdaq listing standards and Internal Revenue Service and Securities and Exchange Commission rules and regulations.
Committee Membership Changes:
Ms. Guilfoile was appointed Chair of the Talent & Compensation Committee, effective July 1, 2023, succeeding Ms. Kozlak.
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Corporate Governance
Role of the Board of Directors. BasedDirectors
Strategic Oversight
The Board of Directors generally meets at least four times a year to oversee, review, and, where appropriate, approve fundamental operating, financial, risk management, and other corporate strategies, as well as major plans and objectives. The Board also monitors the effectiveness of management policies and decisions, including the execution of strategies. This monitoring includes regular interaction, engagement, and robust discussion with management, both during and outside of Board and Committee meetings.
The Board regularly reviews and discusses, among others, each of the topics listed below, with significant inputs from each Committee to whom oversight for such topic has been assigned, as applicable and appropriate.
àQuarterly and fiscal year financial results
àESG management
àLong range financial planning and review of financial models
àLong-term strategic planning and M&A
àRisk management, mitigation, and insurance updates
àReview and revision, as necessary, of policies and committee charters
àCybersecurity, privacy, and compliance
àHuman capital management and DEI
àLeadership succession and talent planning
àExecutive compensation
àDirector compensation
àBoard composition, effectiveness, and self-assessment results
2024 Proxy Statement39

Corporate Governance
Risk Oversight
BOARD RESPONSIBILITIES
The Board is actively involved in the oversight of risks that could affect the company.
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AUDIT COMMITTEE
àRisk oversight is conducted primarily through the Audit Committee.
àResponsible for at least annually reviewing key risks or exposures and assessing the steps management has taken to minimize such risk.
àProvides periodic risk assessment updates to the Board and solicits input from the Board regarding the company’s risk management practices.
àOversees risks related to cybersecurity and data privacy.
TALENT & COMPENSATION COMMITTEE
àPeriodically reviews compensation programs to ensure that they do not encourage excessive risk taking.
àOversees human capital and succession planning risks.
GOVERNANCE COMMITTEE
àPeriodically reviews corporate governance risks and related compliance policies.
àOversees risks related to government relations and ESG, including climate change matters.
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MANAGEMENT RESPONSIBILITIES
Management is responsible for our Enterprise Risk Management (“ERM”) program, which includes key risk identification, mitigation efforts, day-to-day management, and communication to the Audit Committee.
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EVALUATE
The ERM program, overseen by our Chief Financial Officer and the Audit Committee, allows us to evaluate risks and their potential impact to the company based on multiple factors, including business conditions, company capabilities, and risk tolerance. The ERM program is administered by our internal audit department, which is independent of our business functions, and consists of a framework that identifies and classifies risks, enlists risk owners, facilitates risk mitigation efforts, and communicates results to senior management and the Audit Committee.
REVIEW
Changes in the company’s risk profile may also be identified through routine internal audits and ongoing discussions with members of our operational staff and management. A significant component of the ERM program is the annual risk assessment, which includes interviews with various key personnel and risk owners within the company, as well as with members of the Audit Committee.
PRESENT
The results of the annual risk assessment and any additional risk reports are presented to the Audit Committee.
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Corporate Governance
Additional review or reports on enterprise risks are conducted as needed by the Board or the committees. Our internal audit department continues to improve the ERM program, including increasing the frequency of touchpoints with risk owners to ensure changes to the risk environment are captured and communicated promptly. To achieve this, internal audit engages numerous stakeholders across the company, including legal, human resources, government affairs, technology, privacy, the global cybersecurity team, and others, to ensure our risk universe and analysis are comprehensive and timely reported, as necessary. In addition, we engaged external consultants to assist in risk scenario analysis for both climate and trade disruption risks.
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CLIMATE CHANGE OVERSIGHT
Climate-related risks are evaluated within our ERM register. Our internal audit team leads risk management for the company, which is reviewed quarterly and aligned to the risk factors reported annually in our Annual Report on Form 10-K. ESG issues and the physical and transitional risks of climate change, its consequences, and opportunities are included in this process. In 2023, the company continued to evolve the enterprise climate risk process to include a joint quantitative and qualitative climate scenario analysis for risks and opportunities in our global operations using a number of climate risk scenarios across the value chain. Results of this exercise were published in our annual TCFD Report, which is released each summer and available on the company’s ESG Hub at https://www.chrobinson.com/en-us/about-us/corporate-responsibility/esg/.
Our Chief Financial Officer works with our CEO, Chief Legal Officer, and Chief Human Resources and ESG Officer to review climate-related issues as they arise. This group provides feedback on recommended actions and gives final approval regarding which actions are brought to the Board.
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OVERSIGHT OF CYBERSECURITY
The company’s global reach and the ever-evolving threat landscape make data security and cybersecurity critical priorities for us, and as such, the Audit Committee receives regular reports on these topics. Our global cybersecurity team reports to our Chief Technology Officer and together, they are responsible for our network security, engineering processes, and business continuity. This team partners with leaders from all our global regions to align our strategic goals with our business priorities.
We have processes and programs in place to meet our global compliance obligations and work with our employees and teams across the globe to ensure security and data protection principles are integrated into the way we do business every day. We utilize a set of controls that integrates guidance from the EU’s General Data Protection Regulations and alignment with the U.S. National Institute of Standards and Technology’s framework. In addition, we submit to independent assessments by external parties, including System and Organizational Controls (“SOC”) 2 Type 2 audit, to ensure all safeguards function as they should.
Our Technology Continuity program is equally as robust and follows industry standards for disaster recovery practices, including close alignment with ISO 27031:2011 and the Disaster Recovery Institute International’s Professional Practices. Our program includes multiple components that act as an additional line of defense—among them are regular functional recovery and tabletop exercises, cybersecurity exercises, program audit and maintenance, awareness and training, business impact analysis, and risk evaluation and controls.
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OVERSIGHT OF DATA PRIVACY
Our global data privacy program aligns closely with our global cybersecurity team regarding the management of a framework that represents a harmonized set of privacy and data protection controls, encompassing our global and regional obligations to personal information. The program is evaluated within our ERM register. The director of our global data privacy program reports to our Chief Legal Officer and aligns closely with regional counsel in North and South America, Asia, and Europe.
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Corporate Governance
Our global data privacy program extends across our business and shared service organizations to embed privacy by design principles within our operations and in alignment and coordination with our information security program. This is done through both active data protection impact/privacy impact assessment (“DPIA/PIA”) engagements with business and technical partners, as well as through structured privacy by design checklists embedded into technical and business process development. Technical teams participate in regular and ongoing workshops that support security and privacy by design initiatives. All C.H. Robinson employees who process personal information must comply with privacy policies and processes designed to achieve compliance. Employees complete annual information protection and privacy training that supports our Code of Ethics and guides employees on their roles and responsibilities to collect, protect, use, and manage the personal information entrusted to them. Ongoing privacy policy compliance audits and risks identified during DPIA/PIA activities inform ERM processes. The Audit Committee is updated on privacy risk management procedures through our regular enterprise risk updates as well as through internal audit projects involving privacy risks.
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OVERSIGHT OF ESG
Board of Directors: Receive reports from committees and management and discuss ESG updates and disclosures, human capital management, cybersecurity, and data privacy
Governance Committee: ESG updates, strategy, risks, progress on goals, raters & rankers scoring
Talent & Compensation Committee: Human capital management, regular DEI updates
Audit Committee: ESG disclosures, cybersecurity, data privacy
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Management: Among other things, management develops solutions to climate-related, cybersecurity, and privacy issues throughout the organization; focuses on the attraction, development, and retention of talent; and supports our DEI initiatives.
C.H. Robinson ensures strong oversight of Environmental, Social, and Governance (“ESG”) topics, including evolving regulatory requirements and emerging industry trends. Our approach to integrating ESG considerations into our corporate oversight structure allows us to seize growth opportunities with shippers and carriers, reduce potential risks, and provide a suite of tools and services that meet our customers’ heightened need for Scope 3 emissions data and sustainability solutions. At C.H. Robinson, our ESG efforts are focused on climate action, people empowerment, and ethical business practices. Oversight of these issues starts with the Board and our CEO, as well as our Chief Human Resources and ESG Officer.
The full Board receives updates from management, including our Vice President of ESG, on ESG strategy, reporting, progress toward goals, and risk management. Additionally, the Board committees oversee specific areas of our ESG efforts. The Governance Committee receives regular updates on ESG strategy, reporting and disclosures, as well as environmental sustainability. The Talent & Compensation Committee has oversight of talent strategies; diversity, equity, and inclusion; company culture; and other talent-related topics. The Audit Committee has oversight of ethics and compliance, risk management, cybersecurity, and data privacy, as well as ESG risks.
See our 2022 ESG Report on our website for more information.
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Corporate Governance
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OVERSIGHT OF TALENT AND CULTURE
Our Board of Directors and Talent & Compensation Committee have oversight of our talent management and DEI efforts. They receive regular updates from our Chief Human Resources and ESG Officer on our key strategic initiatives, success measurements, and other relevant matters pertaining to human resources and DEI including, but not limited to, hiring and retention, culture, employee engagement, succession planning, compensation and benefits, and human resources or DEI-related risks.
Evaluation of CEO and Management. Our Board has delegated primary oversight responsibility for the evaluation of our CEO to the Talent & Compensation Committee. The Talent & Compensation Committee, in collaboration with the Chair of the Governance Committee, learns duringreports its evaluation of the CEO’s performance to the full Board at least annually.
Succession Planning. Succession planning for our senior management positions is critical to our long-term success. The Board annually reviews the company’s succession plans and identifies potential successors for the CEO and other senior leadership positions. The CEO participates in this process it determines which nominee(s)by providing the Board with recommendations or evaluations of potential successors and identifying and recommending development plans for such individuals. The CEO is expected to recommend to the Board on an ongoing basis one or more successors in the event of Directors to submit for election. The Governance Committee uses the same process for evaluating all nominees, regardlessan unexpected inability of the source of the nomination.CEO to continue to serve.
No candidates for director nominations were submitted to the Governance Committee by any shareholder for the 2021 Annual Meeting. Any shareholder interested in presenting a nomination for consideration by the Governance Committee prior to the 2022 Annual Meeting should do so as early as possible, to provide adequate time to consider the nominee and comply with our Bylaws.
Compensation of Directors
In 2020, each independent director of C.H. Robinson was eligible to receive an annual retainer of $100,000. The Board of Directors approved a 50% reduction in base annual retainer payments from May 1, 2020 through July 31, 2020; these reductions were realized between April 1, 2020 through June 30, 2020. These changes were enacted as part of cost savings measures in response to the COVID-19 pandemic. Directors do not receive additional compensation for each meeting they attend. The Audit Committee chair received an additional annual retainer of $30,000, and the chairs of the Governance and Compensation Committees each received an additional annual retainer of $20,000. Other members of the Audit Committee received an additional annual retainer of $12,500, and other members of the Governance
Evaluate and Approve
The Talent & Compensation Committee evaluates the performance of the CEO and management and sets performance goals and objectives.
The Board reviews the report evaluating the CEO and any other updates from the Talent & Compensation Committee in executive sessions of the Board.
The Talent & Compensation Committee reviews compensation programs, policies, and practices and makes compensation decisions.
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Assess and Plan
The Talent & Compensation Committee reviews succession plans for the company’s executive officers, including the CEO, and presents such plans to the Board.
The Board provides input to the CEO, who conducts an annual assessment of the performance and development of other senior management.
The Talent & Compensation Committee reviews the results of the advisory stockholder vote on executive compensation and makes recommendations to the Board as appropriate.
20212024 Proxy Statement
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PROPOSAL ONE: ELECTION OF DIRECTORS

Corporate Governance
Compensation Committees received additionalOther Corporate Governance Policies, Practices, and Processes
Annual Board Evaluations
Each year, the Board conducts a self-evaluation to determine whether it and its committees are functioning effectively. The Governance Committee is responsible for seeking comments from all directors and reporting its evaluation of Board and committee performance to the Board on an annual retainers of $7,500. The lead independent director received an additional annual retainer of $25,000 and the independent chairmanbasis. As part of the self-evaluation process, the Chair of the Governance Committee may have individual conversations with each director to discuss individual and group dynamics and performance. The full Board receivedreviews and discusses the evaluation report to determine what, if any, action could improve Board and committee performance.
Shareholder Communications with the Board
C.H. Robinson shareholders and other interested parties may send written communications to the Board of Directors or to any individual director by mailing it to C.H. Robinson Worldwide, Inc., Board of Directors, c/o C.H. Robinson Corporate Secretary, 14701 Charlson Road, Suite 1200, Eden Prairie, MN 55347. These communications will be compiled by the corporate secretary and periodically submitted to the Board of Directors or individual directors.
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Compensation of Directors
Overview
Every two to three years, the Governance Committee engages with an additionalindependent compensation consultant to review board compensation market data. As necessary, this data is used by the Governance Committee in preparation for determining and recommending changes to board compensation. The last review was completed in 2023 by Semler Brossy.
The table below outlines the current annual retainer of $100,000. Retainerscompensation program for our non-employee directors:
Compensation ElementCompensation Amount ($)
Non-Employee Director Compensation:
Annual Cash Retainer110,000 
Annual Equity Award (RSUs)175,000 
Independent Chair of the Board Additional Cash Retainer100,000 
Committee Service Compensation:ChairMember
Audit Committee30,000 12,500 
Capital Allocation and Planning Committee20,000 7,500 
Governance Committee20,000 7,500 
Talent & Compensation Committee20,000 7,500 
Cash retainers are paid in quarterly installments, at the end of each calendar quarter. BeforeOn an annual basis before the retainers are earned,following year’s director compensation is determined, the directors may elect to receive all or a portion of their retainers in cash, stock, or restricted stock unitsRSUs that are immediately vested and are payable to the directors after their service on the Board of Directors has ended. The annual equity award is also delivered quarterly in the form of fully vested RSUs that settle in shares of stock after the director leaves the Board of Directors.
Directors are required to own a minimum of five times their annual Boardcash retainer in company stock no later than five years after joining the Board of Directors. We base the stock ownership requirements on all shares of company stock deemed owned by a director, which includes vested stock options, vested and unvested restricted stock units,RSUs and stock beneficially owned by the director, including owned in a trust, by a spouse, or by dependent children for our directors. All directors who have been on the Board for at least five years are in compliance with the company stock ownership requirements.
In 2020, the Board of Directors granted each director a fully vested restricted stock unit award valued at $150,000, deliverable after leaving the Board of Directors. Restricted stock unit awards are granted in quarterly installments, at the end of each calendar quarter.C.H. Robinson also reimburses non-employee directors for reasonable expenses incurred in attending Board of Directors meetings and for expenses incurred in obtaining continuing education related to service on our Board of Directors. Directors who are also employees of C.H. Robinson are not separately compensated for serving as a member of the Board of Directors.
2020
2024 Proxy Statement45

Compensation of Directors
2023 Director Compensation Table
Name
Fees Earned
or Paid in Cash(1)
Stock Awards(2)
Total
Aggregate
Number of
Shares
Outstanding
as of
December 31, 2020(3)
Scott P. Anderson$193,790 $150,000 $343,790 20,333
Name(1)
Name(1)
Fees Earned or
Paid in Cash
($)
Stock
Awards(2)
($)
Total
($)
Aggregate Number
of Shares Subject
to Stock Awards
Outstanding as of
December 31, 2023
(3)
Scott P. Anderson(4)
James J. Barber, Jr.
Kermit R. Crawford(5)Kermit R. Crawford(5)28,750 (4)37,500 66,250 399
Wayne M. Fortun106,868 (5)150,000 256,868 41,750
Timothy C. GokeyTimothy C. Gokey107,500 (7)150,000 257,500 9,584
Mark A. Goodburn(7)
Mary J. Steele Guilfoile(8)Mary J. Steele Guilfoile(8)102,500 150,000 252,500 15,147
Jodee A. Kozlak(9)Jodee A. Kozlak(9)110,632 (6)150,000 260,632 16,074
Brian P. Short107,500 (7)150,000 257,500 63,538
Henry J. Maier
James B. StakeJames B. Stake125,000 (8)150,000 275,000 24,018
Paula C. TolliverPaula C. Tolliver107,500 (7)150,000 257,500 6,872
John P. Wiehoff176,923 (9)— 176,923 0
Henry W. “Jay” Winship

(1)David P. Bozeman was appointed as the company’s President and Chief Executive Officer effective June 26, 2023 and does not receive any additional compensation for services provided as a director.
(1)The Board of Directors approved a 50% reduction in base cash retainer payments from May 1, 2020 through July 31, 2020; these reductions were realized between April 1, 2020 through June 30, 2020.
(2)The dollar value reflected in this column was awarded as fully vested restricted stock unitsRSUs of the company. Shares equal to the number of restricted stock unitsRSUs will be distributed to the director after his or her board membership terminates. The number of units issued to a director is determined by dividing the annual equity award value of $175,000 by the closing price of a share of our common stock on the date of grant. In accordance with Accounting Standards Codification 718 (“ASC 718”), these awards are discounted to reflect the restrictions on the awardee’s ability to sell or transfer vested awards until his or her board membership terminates. The fair value of these awards is established based on the market price on the date of grant, discounted for post-vesting holding restrictions.
(3)Includes fully vested restricted stock unitsRSUs.
(4)Mr. Anderson served as Interim Chief Executive Officer between January 1, 2023 and directly owned shares.June 25, 2023 and did not receive any additional compensation for services provided as a director during that period. Effective June 26, 2023, Mr. Anderson remained a board member and was appointed as a member of the Governance Committee effective July 1, 2023 and was entitled to receive compensation for his service on the Board for the remainder of the year. Mr. Anderson’s compensation for his service as Interim Chief Executive Officer, including a one-time RSU award granted to Mr. Anderson in connection with his service as Interim Chief Executive Officer through June 25, 2023 and his continuing service on the Board through fiscal 2023, is reported in the Summary Compensation Table.
(4)(5)Mr. Crawford was appointed to the Board of Directors on September 23, 2020.
(5)Mr. Fortun served as chairChair of the CompensationGovernance Committee until the Annual Meeting on May 7, 2020.effective January 1, 2023.
(6)Ms. Kozlak was appointed chair of the Compensation Committee following the Annual Meeting on May 7, 2020.
(7)The director has elected to receive the dollar value of these fees in restricted stock unitsRSUs of the company. Shares equal to the number of restricted stock unitsRSUs received will be distributed after termination of board membership.
(8)(7)Mr. Stake has elected to receive one halfGoodburn was appointed Chair of the dollar value of these fees in restricted stock unitsAudit Committee effective July 1, 2023.
(8)Ms. Guilfoile was appointed Chair of the company and the balance of his fees paid in cash for 2020. Shares equal to the number of restricted stock units will be distributed after termination of board membership.Talent & Compensation Committee effective July 1, 2023.
(9)Mr. Wiehoff, who held the position of chairmanMs. Kozlak was appointed independent Chair of the Board of Directors until May 7, 2020, received director compensation paid in cash related to his service as chairman in 2020.

effective January 1, 2023.
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2021 Proxy Statement

PROPOSAL ONE: ELECTION OF DIRECTORS


Compensation Committee Interlocks and Insider Participation
The members of the Compensation Committee are Kermit R. Crawford, Wayne M. Fortun, Timothy C. Gokey, Mary J. Steele Guilfoile, Jodee A. Kozlak (Chair), James B. Stake, and Paula C. Tolliver. The Compensation Committee members have no interlocking relationships requiring disclosure and are deemed independent under the rules of the Securities and Exchange Commission.

Proposal 2: Advisory Vote on the Compensation of Named Executive Officers (“Say-on-Pay”)
C.H. Robinson is providing its shareholders the opportunity to cast a non-binding advisory vote on the compensation of its named executive officers (“NEOs”). At the Annual Meeting, shareholders will vote on the following advisory resolution regarding the compensation of NEOs as described in this Proxy Statement:
“RESOLVED, that the shareholders of C.H. Robinson Worldwide, Inc. approve, on an advisory basis, the compensation paid to the company’s named executive officers as disclosed pursuant to Item 402 of Regulation S-K in the ‘Compensation Discussion and Analysis’ section, compensation tables, and related narrative discussion contained in the company’s 2024 Notice of Annual Meeting of Shareholders and Proxy Statement.”
C.H. Robinson, with guidance and oversight from our Talent & Compensation Committee, has adopted an executive compensation philosophy that is intended to be consistent with our overall compensation approach and to achieve the following goals:
1.Pay incentive compensation aligned with company earnings performance;
2.Encourage executives to make long-term career commitments to C.H. Robinson and align executives’ interests with those of our shareholders;
3.Balance incentive compensation to achieve both annual and long-term profitability and growth;
4.Emphasize supporting both team and company goals, business transformation, and company culture; and
5.Provide a level of total compensation necessary to attract, retain, and motivate high quality executives.
We believe that our executive compensation program is aligned with the long-term interests of our shareholders. In considering this proposal, we encourage you to review the Compensation Discussion and Analysis section of this Proxy Statement and related compensation tables and narrative discussion beginning on page 48. These sections provide detailed information on our executive compensation, including our compensation philosophy and objectives and the 2023 compensation of our NEOs.
C.H. Robinson has requested shareholder approval of the compensation of our NEOs on an annual basis. Our compensation disclosures, including our Compensation Discussion and Analysis, compensation tables, and discussion in this Proxy Statement, are done in accordance with the Securities and Exchange Commission’s compensation disclosure rules.
àAs an advisory vote, this Proposal 2 is non-binding. However, the Board of Directors and the Talent & Compensation Committee value the opinions of our shareholders and will consider the results of the vote when making future compensation decisions for our NEOs.
BOARD VOTING RECOMMENDATION
The Board of Directors recommends a vote FOR the advisory approval of the compensation of named executive officers.
20212024 Proxy Statement
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2020 EXECUTIVE COMPENSATION
2020 Compensation Discussion and Analysis
Developing diverse, high performing leaders who are guided by our EDGE values (Evolve Constantly, Deliver Excellence, Grow Together, and Embrace Integrity) and our leadership principles is at the foundation of C.H. Robinson’s talent strategy. People leaders remain a crucial factor in shaping our culture, influencing the C.H. Robinson experience for employees, and steering our organizational strategy. We are focused on cultivating outstanding leaders throughout the organization with the requisite skills and mindsets for driving business results, promoting enterprise collaboration, and developing superior talent. Our talent review process will guide the assessment, identification, and development of strategic, results-driven, people-focused leaders, fostering enterprise collaboration amid change and delivering business results.
The following Compensation Discussion & Analysis (“CD&A”) describes the background, objectives, and structure of our executive compensation programs. This CD&A is intended to be read in conjunction with the tables beginning on pages 28 and 33, which page 76, which provide further historical compensation information for the following Named Executive Officersnamed executive officers (“NEOs”):
Robert C. Biesterfeld Jr.,
Scott P. Anderson(1)
David P. Bozeman(2)
Michael P. ZechmeisterArun D. RajanAngela K. FreemanMichael J. Short
Former Interim President and Chief Executive OfficerPresident and Chief Executive OfficerChief Financial OfficerChief Operating OfficerChief Human Resources and ESG OfficerPresident of Global Forwarding
(1)Mr. Anderson served as Interim Chief Executive Officer between January 1, 2023 and June 25, 2023.
(2)Mr. Bozeman was appointed as President and Chief Executive Officer effective June 26, 2023.
Michael P. Zechmeister, Chief Financial OfficerAt a Glance:
Christopher J. O’Brien, Chief Commercial Officer
Performance-based compensation and alignment of individual, company, and shareholder goals are integral components of our culture and management approach.
Mac S. Pinkerton, President of North American Surface Transportation ("NAST")
Michael J. Short, President of Global Freight Forwarding

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I.
Executive Compensation
Executive Summary
Our compensation program continues to evolve to optimally support our strategic and talent objectives. 2023 marked a transformative year for our compensation program, and we made various changes to improve the overall success of our business. Our pay strategy, actions, and changes made in 2023 can be attributed to three main drivers:
1.Evolving compensation program to fit best practices. In 2023, we continued to make changes to our compensation that considered feedback from our shareholders as well as the competitive landscape. The changes made were intended to modernize the program and foster competitive and fair practices for our shareholders. To that end, we refined our practices and policies by:
Introducing and using a peer group as a benchmark for executive pay decisions and practices;
Adopting double trigger vesting for performance-based equity awards; and
Removing the counting of stock options and unvested performance shares in our stock ownership guidelines.
These changes continued into 2024 with the modernization of our post-employment vesting provisions for equity awards, including a competitive retirement provision and elimination of the post-vesting hold period. See the “Evolution of our Compensation Program” on page 59 for an additional discussion of the changes to our compensation over the years.
2.Supporting our business transformation and CEO transition. Our business is amid a transformation in the wake of the challenges brought on by the transportation markets, which are detailed below in our “2023 Performance Highlights and Incentive Payouts” on page 51. We made executive changes and certain pay actions to ensure we attract, retain, and motivate top talent through this transformation.
CEO Transition. David P. Bozeman was appointed by the Board in June 2023 as our President and Chief Executive Officer to advance the company’s vision and enhance the value to the company’s customers and shareholders. We provided Mr. Bozeman with a competitive new hire compensation package that considered compensation he would forfeit from his prior employer, as well as the go-forward incentives that would motivate Mr. Bozeman to drive certain business objectives.
NEO Retention Awards. We also granted retention awards to our NEOs at the beginning of 2023 to ensure stability and engagement among the management team as we focused on transforming our business operations in a difficult market and searched for a permanent CEO. These one-time awards were granted in equity to maintain alignment with our shareholders and motivate our NEOs to drive favorable business outcomes.
See “Compensation Arrangements Related to Executive Transitions” on page 55 for additional information regarding Mr. Bozeman’s compensation and the factors the Talent & Compensation Committee considered, as well as more details on the retention grants to our NEOs.
3.Considering the compensation implications of our cyclical business. The cyclical nature of our business brings challenges in setting certain types of goals for our incentive programs. Our program is designed to incentivize our NEOs to focus on optimizing the balance between managing costs while driving strong performance throughout the cycle. We evolved our incentive program designs in 2023 to motivate our NEOs to drive the key behaviors and objectives required in a cyclical business.
Annual Cash Incentive Program. In 2023, we modified our annual cash incentive program to introduce two new measures, enterprise volume growth and enterprise adjusted operating margin. Enterprise volume growth was implemented to measure business growth in our four key modes (NAST truckload, NAST LTL, GF ocean, and GF air). Volume growth allows us to set and measure growth goals in lieu of other top line measures (e.g., revenue) that may not always be appropriate and indicative of the resulting competitive environment and transportation rates in that year. Enterprise adjusted operating margin was introduced to measure and reward profitable growth. See “Annual Cash Incentive Compensation” on page 64 for additional details.
Long-Term Incentive Program. Our long-term incentive program was also modified by the addition of an adjusted operating margin metric and the measurement of all performance metrics over a three-year period. Adjusted gross profits and adjusted operating margin align to our commitment to our customers and rewards management for profitable growth. Diluted earnings per share (“EPS”) aligns to our business strategy for long-term performance, across varying market cycles and longer-term secular changes. For additional information on our long-term incentive structure, see “Equity Compensation,” on page 67.
2024 Proxy Statement49

Executive Compensation
Compensation Philosophy and Structure
We believe our compensation philosophy and design are well aligned with the interests of our shareholders, as well as our performance culture, growth strategy, and desire to attract and retain high-quality executives.
We:
Pay for performance;
Reward profitable long-term growth; and
Align the interests of management with our shareholders.
The company reviews general industry survey data provided by an independent compensation consultant to assess market competitiveness of the components of NEO compensation, including appropriate mix of cash and equity. The company also relies on broader survey data to assess market competitiveness of executive compensation components.
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2021 Proxy Statement

2020 EXECUTIVE COMPENSATION
Our compensation components are as follows:
ElementPerformance PeriodObjectivePerformance Measured/
Rewarded
Base Salary (Fixed)AnnualAttracts, retains, and rewards top talent and reflects a NEOs responsibilities, performance, leadership potential, succession planning, and relevant market data.Provides NEOs with fixed compensation that acts as a vehicle to attract and retain. Rewards executives for key performance and contributions. Generally reflects the 25th to 50th percentile for our defined market for talent.
Annual Cash Incentive (Variable)AnnualMotivates and rewards our executives for the achievement of financial performance and certain strategic goals for the company related to its transformation.
In 2020, the annual cash incentive was based on the following:
CEO - Target opportunity was 140 percent of base salary and was based on enterprise adjusted pre-tax income ("APTI"). APTI is defined as pre-tax income, adjusted to exclude executive bonuses and unusual or extraordinary items.
Operating Executive Officers - Target opportunity varied from 40 percent to 80 percent of base salary and was based on the APTI of the business division and/or region of responsibility for the executive, enterprise APTI, and management business objectives (MBOs).
Administrative Officers - Target opportunity varied from 65 percent to 85 percent of base salary and was based on enterprise APTI and MBOs.
For all executive officers the maximum annual incentive that may be paid is two times the planned annual incentive at target.
Threshold and maximum performance goals for NEOs were set at 70 percent and 120 percent of the relevant APTI targets, respectively.
Performance Based
Restricted Stock (Variable)
Long-TermAligns the interests of management and shareholders.
Accounts for 50% of NEOs' equity grant value.
Performance shares vest over five years based on company performance.
Performance vesting is constructed in a manner as to vest 0 to 100 percent of the award based on year-over-year percentage increase (or decrease) in diluted earnings per share, plus ten percentage points.
The performance shares have a two year delayed delivery following the five year vesting period.
Stock Options (Variable)Long-TermSupports the achievement of strong share price growth.
Accounts for 50% of NEOs' equity grant value.
Options vest ratably over five years.
Other Compensation considerations are as follows:
Mix of fixed and variable compensation:The mix of pay between fixed and variable compensation, and the portion of variable compensation linked to performance vesting and the value of company common stock, are consistent with our philosophy of strong linkage between pay and performance. It also puts a substantial percentage of our executives’ compensation at risk. As reflected in the gray components on the following charts, 85 percent of Mr. Biesterfeld’s 2020 target total compensation was variable or “at-risk,” and 72 percent of the 2020 target compensation for our other NEOs was variable or “at-risk.”
2021 Proxy Statement
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2020 EXECUTIVE COMPENSATION
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Stock ownership guidelines:To ensure alignment with our shareholders, the Compensation Committee has established stock ownership guidelines for our executive officers. The Compensation Committee believes that linking a significant portion of the executive officer’s personal holdings to the company’s success aligns our executive interests with that of our shareholders. Therefore, executive officers are expected to own a significant amount of C.H. Robinson stock. The Compensation Committee has established stock ownership guidelines for our executive officers based on all shares of company stock deemed owned by an executive officer, which includes vested stock options, stock held in the company 401(k) plan, vested and unvested performance shares and restricted stock units. It also includes stock beneficially owned by the officer, including owned in a trust, by a spouse, or by dependent children. Equity ownership guidelines for executive officers are as follows:
CEO: Six times base salary
Other NEOs: Three times base salary
Other direct reports to the CEO: Three times base salary
It is expected that new or recently promoted members of the executive team will achieve the appropriate level of ownership within five years of their appointment. All NEOs are in compliance with the company stock ownership requirements.
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2021 Proxy Statement

2020 EXECUTIVE COMPENSATION
2020 C.H. Robinson Performance Highlights and Incentive Payouts
The following summarizes C.H. Robinson's performance and select 2020 year-over-year operating comparisons to 2019:
Total revenues increased 5.9 percent to $16.2 billion, driven by higher pricing in ocean and air freight services and contributions from the acquisition of Prime Distribution Services ("Prime Distribution").
Adjusted gross profits(1) decreased 6.7 percent to $2.4 billion, primarily driven by lower adjusted gross profit margins in truckload services, partially offset by contributions from the Prime Distribution acquisition and higher adjusted gross profits in air freight and ocean services.
Personnel expenses decreased 4.3 percent to $1.2 billion, driven primarily by cost saving initiatives, including a 2.8 percent decrease in average headcount, the elimination of non-essential travel, and the temporary suspension of the company match to retirement plans for U.S. and Canadian employees, in addition to lower incentive compensation.
Selling, general, and administrative (“SG&A”) expenses decreased 0.3 percent to $496.1 million, primarily due to significantly lower travel expenses, partially offset by the ongoing expenses from the Prime Distribution acquisition.
Income from operations totaled $673.3 million, down 14.8 percent from last year due to a decline in adjusted gross profits. Adjusted gross profit margin of 27.9 percent decreased 260 basis points.
Diluted earnings per share (EPS) decreased 11.2 percent to $3.72.
Cash flow from operations decreased 40.2 percent to $499.2 million.
(1)Adjusted gross profit is a non-GAAP measure. Additional information about adjusted gross profit, including a reconciliation to gross profit, is available in our annual report on Form 10-K for the year ended December 31, 2020.

The North American surface transportation market experienced significant volatility in freight volumes and costs over the duration of 2020 as a result of the COVID-19 pandemic. The impact on the market varied significantly depending on the customer size, the industry, and the severity of the restrictions in place to control the outbreak. Certain industries, such as retail, saw periods of elevated demand while other industries, especially smaller customers in those industries, experienced extended periods of demand, and production well below historical levels. The impact of reduced consumer demand and production, in addition to driver shortages, resulted in reduced carrier capacity, most notably in truckload, as many carriers either reduced lanes or exited the market entirely. This reduced carrier capacity caused routing guides to rapidly degrade and more loads moved to the spot market, driving sharp increases in transportation costs, most significantly in the second half of 2020.
The global forwarding market also experienced significant volatility resulting from the COVID-19 pandemic. The air freight market experienced a significant decline in capacity due to a reduction in commercial flights from COVID-19 restrictions, which resulted in sharp pricing increases. The impact of the COVID-19 pandemic on the ocean freight market varied significantly over the course of 2020 depending on the severity of the outbreak in regions in which we operate. Many industries experienced temporary volume reductions and factory closures due to efforts to contain the spread of the virus, which initially resulted in excess capacity and decreased pricing early in 2020. In the second half of 2020, most industries had resumed production and companies began to replenish low inventory levels amidst continued market uncertainty from the ongoing COVID-19 pandemic. As demand accelerated, it outpaced carrier capacity returning to the market, which resulted in significant pricing increases for the cost of ocean freight.
These market pressures resulted in a decrease of diluted earnings per share from $4.19 in 2019 to $3.72 in 2020 and translated into below-target incentive payouts under our annual cash incentive plan for most of our NEOs, and zero earned vesting in our performance-based equity awards.
Our enterprise APTI, which is one of the measures used to determine annual non-equity incentive payments for all of our NEOs in 2020, finished at -15 percent in 2020.
NAST APTI finished -33 percent in 2020, driven by lower adjusted gross profit per shipment in truckload and less-than-truckload ("LTL") services. The lower adjusted gross profit per shipment in truckload was driven by the tight carrier capacity in the marketplace and the significant transportation cost volatility resulting from the impact of the COVID-19 pandemic relative to our contractual customer pricing. We continued to meet our customer commitments despite
2021 Proxy Statement
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2020 EXECUTIVE COMPENSATION
increases for the cost of capacity, which has resulted in adjusted gross profit margin compression. NAST APTI was one of the performance measures for one of our 2020 NEOs.
Global Forwarding APTI finished at +111 percent in 2020, driven by the significant increase in air freight and ocean pricing due to the impact of the COVID-19 pandemic. The air freight market has been significantly impacted by reduced cargo capacity due to fewer commercial flights, an increase in charter flights, and larger than normal shipment sizes which has created an environment with unusually high pricing. The price for ocean services has also increased significantly due to tight ocean carrier capacity. These increases were partially offset by volume declines in air freight. Global Forwarding APTI was one of the performance measures for one of our 2020 NEOs.
Say-On-Pay
The Compensation Committee also considers the results of the shareholders’ advisory vote on the compensation of NEOs. At our 2020 and 2019 Annual Meetings, our say-on-pay proposals received “for” votes that represented approximately 93 percent and 90 percent, respectively, of the shares voted on the proposals. The Compensation Committee considered the results of these say-on-pay votes and other shareholder feedback when evaluating our compensation practices and policies in 2020, and when setting the compensation of our NEOs for 2020. The Compensation Committee believes that our say-on-pay proposal results demonstrate shareholders’ support of our compensation practices.
II. Compensation Philosophy
Performance basedPerformance-based compensation and alignment of individual, company, and shareholder goals are integral components of our C.H. Robinson’sRobinson culture and management approach. Performance basedPerformance-based compensation makes up a significant portion of our employees’executives’ total compensation package. In addition, approximately 16 percent of our total employees hold equity they received through our current equity incentive plan.
C.H. Robinson, with guidance and oversight from our Talent & Compensation Committee, has adopted an executive officer compensation philosophy that is intended to be consistent with our overall compensation approach and to achieve the following goals:
(1)Provide a level of total compensation necessary to attract, retain, and motivate high quality executives;
(2)Pay incentive compensation aligned with company earnings performance;
(3)Emphasize both team and company performance;
(4)Balance incentive compensation to achieve both annual and long-term profitability and growth; and
(5)Encourage executives to make long-term career commitments to C.H. Robinson and our shareholders.
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Pay incentive compensation aligned with company performanceAlign executives’ interests with those of our shareholders and encourage high-performing executives to make long-term career commitments to C.H. RobinsonBalance incentive compensation to achieve both annual and long-term profitability and growthEmphasize supporting both team and company goals, business transformation, and company cultureProvide a level of total compensation necessary to attract, retain, and motivate highly qualified executives
Compensation decisions regarding individual executive officers are based on several factors, including competitive market practices, individual performance, level of responsibility, the unique skills of the executive, the tenure, demands and complexity of the position, and the critical nature of the role.
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Executive Compensation
2023 Performance Highlights and Incentive Payouts
In 2023, transportation markets experienced a weak demand for freight combined with more than sufficient capacity, which resulted in an oversupplied and very competitive market. These conditions are typically referred to as a soft market and existed throughout most of 2023, with transportation rates at, or near, the estimated cost of operation. This compared to historically elevated transportation rates in the first half of 2022 before global demand began to slow in the middle of 2022 and market conditions began to soften, which continued into 2023. The weak demand and excess carrier capacity in the surface transportation market has resulted in most shipments moving under committed pricing agreements and suppressed freight rates on the limited number of shipments reaching the spot market. These conditions led to significant declines in both our total revenues and adjusted gross profits in 2023 when compared to 2022. The C.H. Robinson team continued to help our customers and contract carriers navigate through the changing market cycle with best-in-class solutions provided by our global network of supply chain experts that customers have come to expect from C.H. Robinson.
Performance Overview
The following summarizes C.H. Robinson financial, operational, and strategic performance in 2023, including year-over-year operating comparisons to 2022:
Total revenues decreased 28.7% to $17.6 billion, driven by lower pricing and volumes in nearly all of our service lines, most notably ocean and truckload services.
Adjusted gross profits(1) (“AGP”) decreased 27.5% to $2.6 billion, driven by lower AGP per transaction in truckload and ocean services.
Income from operations totaled $0.5 billion, down 59.4% from last year primarily due to the decrease in AGP, partially offset by a decrease in operating expenses.
17% Y/Y improvement in NAST shipments per person per day.
20% Y/Y improvement in Global Forwarding shipments per person per month.
Diluted EPS decreased 63.2% to $2.72.
Dividends per share increased 8.0% to $2.44 per share.
(1)AGP is a non-GAAP measure calculated as gross profits excluding amortization of internally developed software utilized to directly serve our customers and contracted carriers. We believe adjusted gross profit is a useful measure of our ability to source, add value, and sell services and products that are provided by third parties. Additional information about adjusted gross profit, including a reconciliation to gross profit, is available in our Annual Report on Form 10-K for the year ended December 31, 2023.
The North American surface transportation (“NAST”) market experienced weak freight demand and excess carrier capacity throughout 2023. This resulted in a very competitive environment with suppressed transportation rates. These challenging market conditions significantly reduced our NAST total revenues, adjusted gross profits, and shipment volumes in 2023 compared to 2022. Transportation rates in 2022 remained historically elevated for the first half of the year before freight demand started to weaken and drive declining transportation rates in the second half of 2022 and into 2023. Our comparative NAST AGP per transaction in 2022 benefited from market conditions beginning to soften, which resulted in the declining cost of purchased transportation relative to the contractual rates we negotiated in prior quarters. The challenging market conditions in 2023 negatively impacted our enterprise adjusted operating margin and NAST truckload and LTL shipment volume. Enterprise adjusted operating margin and NAST truckload and LTL shipment volume are performance measures for our annual cash incentive plan for 2023 for all our NEOs.
Similar to the North America surface transportation market, the global forwarding market was soft throughout 2023 as ocean vessel capacity continued to expand relative to demand. These softening market conditions began in the middle of 2022 and continued throughout 2023. As a result of the soft market conditions, our global forwarding total revenues, AGP, and volumes declined in 2023 compared to 2022. These challenging market conditions negatively impacted our enterprise adjusted operating margin and Global Forwarding (“GF”) ocean and air volumes. Enterprise adjusted operating margin and GF ocean and air volume are performance measures for our annual cash incentive plan for 2023 for all our NEOs.
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Executive Compensation
Incentive Payouts
ElementKey FeaturesResult
2023 Annual Incentive Cash PlanBased on enterprise volume, enterprise operating margin, and MBOs (as defined below), including one specific to DEI.Below Target
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20
Earnings Per Share PSUs(1)
Aligned to compound annual EPS growth rateBelow Threshold
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Adjusted Gross Profit PSUs(2)
Aligned to AGP GrowthBelow Threshold
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(1)Granted in 2021.
(2)Granted in 2021 and 2022.
Enterprise adjusted operating margin, defined on page 62, finished below threshold at 21.2% in 2023. NAST truckload and LTL shipment volumes(1) also finished below threshold at (4.5%) and (2.0%), respectively, in 2023. GF ocean volumes finished below threshold at (5.0%) in 2023 while GF air transaction volume finished just above threshold at 1.0% in 2023. The reduced financial results noted above resulted in a decrease of diluted earnings per share from $7.40 in 2022 to $2.72 in 2023 and resulted in below target levels of vesting on our performance-based equity awards.
(1)Volume growth rates are rounded to the nearest 0.5 percent.
Say-on-Pay and Response to Shareholder Feedback
The Talent & Compensation Committee considers the results of the shareholders’ advisory vote on the compensation of NEOs. At our 2023 Annual Meeting, our say-on-pay proposals received “for” votes that represented approximately 93% of the shares voted on the proposals. The Talent & Compensation Committee considered the results of these say-on-pay votes and other shareholder feedback when evaluating our compensation practices and policies in 2023, and when setting the compensation of our NEOs for 2023. The Talent & Compensation Committee believes that our say-on-pay proposal results demonstrate shareholders’ support of our compensation practices.
14293651183737
93%
Voted in Favor of our Executive Compensation Program at our 2023 Annual Meeting
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Executive Compensation
Based on feedback received from our shareholders, as well as the Talent & Compensation Committee’s consideration of competitive market practices and its goal of linking executive pay and performance, the Talent & Compensation Committee approved the following changes to our compensation programs:
WHAT WE HEARDHOW WE RESPONDED
àConsider disclosing a peer group that can be used to make executive compensation decisions
àC.H. Robinson selected and adopted a formal peer group in 2022 and used this peer group in 2023 for purposes of executive compensation decisions
àConsider, on a going-forward basis, having the treatment of equity awards that are assumed or converted following a change in control be double trigger
àEffective January 1, 2023, C.H. Robinson changed from single trigger to double trigger vesting for all equity awards, including performance-based awards
àConsider the metrics in the annual incentive plan
àEffective January 1, 2023, C.H. Robinson introduced a new annual incentive plan, which consists of blended volume growth, adjusted operating income margin and MBO/SBO(1) scorecards, as disclosed in this Proxy Statement
àConsider the performance period for the long-term incentive plan
àIn 2023, C.H. Robinson introduced a new structure for PSU awards where 33.33% is measured on diluted EPS, 33.33% on AGP, and 33.34% on average adjusted operating income margin; each of these measures has a three-year performance period, as discussed further in this Proxy Statement
àConsider removing the counting of vested stock options and unvested performance shares in the stock ownership guidelines
àIn 2023, C.H. Robinson removed the counting of vested stock options and unvested performance shares for stock ownership guidelines
àUpdate clawback policies in compliance with new Securities and Exchange Commission and Nasdaq requirements by December 1, 2023
àAt the Talent & Compensation Committee meeting in November 2023, our clawback policy was amended to be in compliance with the Securities and Exchange Commission and Nasdaq regulations
(1)Management Business Objectives (“MBOs”) and Strategic Business Objectives (“SBOs”) are described under the "Performance Metrics and Goal Rigor" and "MBOs/SBOs" sections in this Proxy Statement.
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2020 EXECUTIVE COMPENSATIONExecutive Compensation
III. Key Compensation Practices
Our compensation framework and pay-for-performance practices provide appropriate incentives to our executive officers to achieve our financial goals and align our executives with our shareholders’ interests.
What We DoWhat We Don’t Do
Executive
WHAT WE DO
àWe Do require approval of our executive compensation and incentive payouts are subjectby our independent Talent & Compensation Committee
àWe Do target pay opportunity that is generally aligned to the approval of our independent Compensation Committee
No guaranteed bonuses
Pay opportunity is generally targeted to be within the 25th-50th50th percentile of general market data and a compensation peer group of similarly-sized companies that are of similar size, as well as aligned to our business model of a platform company and two-sided marketplace
àWe Do have the majority of pay at risk and performance-based
àWe Do have annual incentive compensation performance metrics directly tied to key metrics of profitability of the company
àWe Do have appropriate caps on incentive plan payouts of two times target opportunity
àWe Do have double trigger change of control provisions in time-based equity awards made after January 1, 2022, and PSU awards made after January 1, 2023
àWe Do have long-term incentives that are performance-based to create alignment with shareholders
àWe Do have long-term incentive plan performance metrics that reward management for scaling the business and creating profitable market share growth
àWe Do have robust stock ownership guidelines and a minimum of a 1-year deferred settlement requirement for shares earned under equity awards granted in 2023 and earlier
àWe Do have a mandatory clawback policy
àWe Do have our equity compensation subject to forfeiture and clawback if executive violates restrictive covenants
àWe Do have a market-aligned Executive Separation and Change in Control Plan
àWe Do have a Talent & Compensation Committee comprised entirely of independent directors
àWe Do have our Talent & Compensation Committee engage with an independent compensation consultant
àWe Do have our Talent & Compensation Committee regularly meet in executive session without management present
No
WHAT WE DON’T DO
àWe Don’t have guaranteed bonuses
àWe Don’t have supplemental pension or executive retirement plan (SERP)(“SERP”) benefits
A majority of pay is at risk and performance basedNo
àWe Don’t allow repricing of underwater options or stock appreciation rights without shareholder approval
Majority of annual incentive compensation performance metrics are directly tied to the driver of shareholder value (APTI)No
àWe Don’t allow hedging or pledging of company shares by our officers or directors
àWe Don’t allow transactions in company stock by our officers or directors without pre-clearance
àWe Don’t pay dividends on unvested PSUs and RSUs granted after January 1, 2021
Appropriate caps on incentive plan payouts; two times target opportunityNo discounted option or SAR grants
Performance based restricted stock and stock option grants to create alignment with shareholdersNo executive only severance plan
Executives are subject to robust stock ownership guidelines and a minimum of a two-year post-vest holding requirement on all performance sharesNo automatic vesting and delivery of equity upon a change in control
Incentive compensation, including cash incentives and equity subject to claw-back for material misconduct and restatementNo executive only perquisite benefits
Equity compensation subject to forfeiture and claw-back if executive violates company employment agreementsNo favorable adjustments were made to our compensation practices as a result of the COVID-19 pandemic
Our Compensation Committee is comprised entirely of independent directors
Our Compensation Committee engages an independent consultant
Our Compensation Committee regularly meets in executive session without management present

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2020 EXECUTIVE COMPENSATION
IV. Elements of Executive Compensation
Base Salary
Executive Transitions
During 2023 and early 2024, the Board effected several executive leadership changes, including:
Following the termination of our prior Chief Executive Officer’s employment at the end of fiscal 2022, the Board appointed one of our directors, Scott P. Anderson, who had been serving as independent Chair of the Board, as Interim Chief Executive Officer, effective January 1, 2023, while the Board conducted an extensive search for a permanent successor Chief Executive Officer. Mr. Anderson resigned as Chair of the Board and from the Audit Committee and Governance Committee in connection with his service as Interim Chief Executive Officer but continued as a member of the Board. Mr. Anderson’s term as Interim Chief Executive Officer concluded on June 25, 2023. Following his term as Interim Chief Executive Officer, Mr. Anderson remained on the Board for the remainder of 2023. He continued to serve on the Capital Allocation and Planning Committee and was appointed to the Governance Committee effective July 1, 2023. As described in “Proposal 1: Election of Directors,” Mr. Anderson has decided not to seek re-election at the Annual base salaryMeeting.
In June 2023, the Board appointed David P. Bozeman as our President and Chief Executive Officer and a member of the Board, effective June 26, 2023. In selecting Mr. Bozeman as Chief Executive Officer, the Board considered Mr. Bozeman’s 30 years of experience in industry-leading companies and iconic brands across supply chains, middle-mile transportation, manufacturing, digital, and customer service. The Board identified Mr. Bozeman as the right leader to advance the company’s vision by focusing on organizational opportunity and enhancing value for the company’s customers and shareholders.
In December 2023, the company announced a transition in the role of Chief Financial Officer, pursuant to which Michael Zechmeister would depart the company when a successor Chief Financial Officer is designedappointed or no later than May 31, 2024.
On January 30, 2024, Michael Castagnetto, the company’s Vice President of Customer Success, was appointed to compensateserve as President of NAST, effective February 1, 2024. Mr. Castagnetto succeeded Mac Pinkerton, who served as a non-executive employee through February 29, 2024 in order to transition his responsibilities, at which time he departed the company.
Certain compensation arrangements related to these leadership changes are described in more detail below.
Compensation Arrangements Related to Executive Transitions
Fiscal 2023 Compensation Program and Offer Letter for Mr. Bozeman, Our New Chief Executive Officer
As described above, the Board appointed Mr. Bozeman as Chief Executive Officer effective June 26, 2023, following an extensive search process. The terms of Mr. Bozeman’s compensation for fiscal 2023 and other terms in his offer letter agreement reflect negotiations between the Talent & Compensation Committee and Mr. Bozeman, taking into consideration the Board’s desire to attract Mr. Bozeman to leave his prior employment to join our executive officers as partcompany, and to do so at a time when the company was in the midst of transforming the business during a totalslow freight cycle. There was a significant emphasis on equity in Mr. Bozeman’s compensation package necessarywhich was intended to attract, retain,align his interests with those of shareholders and motivate high quality executives. Our 2020 base salaries generally reflectreward him for driving improvements during the 25th to 50th percentiletransformation. The summary below describes the terms of our defined market for talent. Base salary payments were reducedMr. Bozeman’s offer letter and factors considered by 50% for the chief executive officer and 20% for the other named executive officers for the period from May 1, 2020 through July 31, 2020. These changes were enacted as part of our cost savings initiatives related to the COVID-19 pandemic.
Base salaries are reviewed annually and are adjusted to reflect a NEO's responsibilities, performance, leadership potential, succession planning, and relevant market data. A market salary adjustment was made for Mr. Pinkerton to move his salary closer to market median for his role.
NEOTitle2019 Base Salary
2020 Base Salary(1)
% Change
Robert C. Biesterfeld Jr.(2)
President and Chief Executive Officer$975,000 $1,025,000 %
Michael P. Zechmeister(3)
Chief Financial Officer700,000 710,000 %
Christopher J. O’BrienChief Commercial Officer500,000 515,000 %
Mac S. Pinkerton(4)
President of NAST475,000 600,000 26 %
Michael J. ShortPresident of Global Forwarding Freight525,000 540,000 %
(1)Base salary payments were reduced by 50% for the chief executive officer and 20% for the other named executive officers for the period from May 1, 2020 through July 31, 2020.
(2)Mr. Biesterfeld was appointed CEO on May 9, 2019.
(3)Mr. Zechmeister was hired as chief financial officer on August 30, 2019.
(4)Mr. Pinkerton was appointed president of NAST on January 1, 2019.

Non-Equity Incentive Plan Compensation (“annual cash incentive compensation”)
The primary objectives of our annual cash incentive compensation are to motivate our people to grow our company profits, align pay with annual company performance, and motivate and incent the company's executive leaders for achievement of important goals aligned to their function or division MBOs. TheTalent & Compensation Committee included MBOs as part of our fiscal 2020 annual cash incentive compensation plan for each NEO, other than our CEO, to incentivizein designing the achievement of more individualized financial and operational objectives that are critical to our long-term strategy.The MBOs were designed to recognize the initiatives that help the company navigate the large cyclical swings that affect the freight transportation environment, as well as our initiatives to continue driving operating margin expansion over the long-term, achieve overall market-share growth, and the successful implementation of our digital transformation efforts.
The Compensation Committee approves an individualized incentive compensation plan for each NEO in the first quarter of the calendar year. NEO annual incentive compensation amounts are set as a percentage of their base salary, to reflect the executive’s responsibilities, performance, and contribution to overall company goals. The measure used to determine the financial component of annual incentive compensation is APTI.
Each year, the Compensation Committee establishes target APTI growth for the enterprise and the divisions at levels that are consistent with the company’s long-term expected results. Given the transactional nature of a significant portion of our business and our fluctuating adjusted gross profit margins due to market conditions, historically the company has found it difficult to forecast short-term performance. As such, we believe it is important to align targets more closely with our long-term growth goals, with some consideration given to shorter-term market trends and divisional business plans. Our annual targets should not vary significantly year to year, except under unusual circumstances.
The threshold, target, and maximum levels of APTI growth are set each year with the following objectives:
The relative difficulty of achieving each level is consistent from year to year;program.
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2020 EXECUTIVE COMPENSATIONExecutive Compensation
The target level is challenging but achievable and reflects planned company performance. The performance ranges within which threshold and maximum incentive payouts can be earned are generally consistent with the range of financial results within which performance is expected to occur; and
A threshold payment is made to reward partial achievement of the target, and a maximum payment rewards attainment of an aggressive, but potentially achievable, level of performance.
For performance between threshold and target or target and maximum, the achievement percentage is determined by linear interpolation. The performance range for the financial metrics of the annual incentive compensation for NEOs ranges from 70 percent of target at threshold and 120 percent of target at maximum. The performance range for the MBO metric of the annual incentive plan for NEOs is 90 percent to 110 percent of target. The NEO annual incentive compensation plan is capped at two times the target opportunity.
In 2020, the Compensation Committee established these APTI targets based on the expectation that our stated long-term growth objective is to grow earnings per share by at least 10 percent annually. As noted below, the Compensation Committee aligned our shorter term targets more closely with anticipated outcomes that will drive our longer term goals. The Compensation Committee certified the following actual performance levels and percentage of target payout for each of the NEOs.
Incentive compensation plans are reviewed annually.
2020 NEO Annual Incentive Compensation MetricsTargetActual
Enterprise APTI growth(1)
7%-15 %(2)
North American Surface Transportation APTI growth(3)
7%-33 %
Global Forwarding APTI growth(4)
10%111 %

Compensation ElementOffer Letter Terms and Fiscal 2023 AmountsFactors Considered
Base Salary$1.0 million annuallyMarket competitive base salary at median of peers reflective of Mr. Bozeman’s experience
Annual Incentive Target150% of base salary (for 2023, pro-rated for period of service) with the same performance measures as other NEOs
Incentive for Mr. Bozeman to lead the execution of the company’s strategy for the balance of fiscal 2023, aligned with the incentives for all other NEOs
Target award amount at median of peers
Long-Term Incentives$3.4 million (reflecting the pro-rated portion of what would have otherwise been a $6.5 million target annual equity award value), distributed 60% in PSUs and 40% in RSUs, with the PSUs having the same performance measures as for other NEOsMarket competitive long-term incentive awards designed to encourage long-term financial and stock price performance, bringing total target pay to the median of peers
Make Whole Awards: Sign-On Bonus and RSU Award
$5.0 million sign-on bonus, repayable if employment terminates prior to second anniversary for any reason other than involuntary termination without cause or his resignation for good reason
$12.0 million RSU award to replace equity forfeited from his former employer that vests as to 25% of the shares on each of the six month and one year anniversaries of the date of grant, 30% of the shares on the second anniversary of the date of grant, and 20% of the shares on the third anniversary of the date of grant
Additional cash bonus, primarily to address certain transition matters, such as Mr. Bozeman’s requirement to repay certain amounts to his prior employer. The RSU award is designed to replace equity forfeited from prior employer.
One-time PSU Award$6.5 million PSU award that vests based on achievement of 10% compound annual growth in adjusted diluted earnings per share over a three year period (2024 – 2026) based on a $4.00 stipulated baselineIn order to drive business transformation, this PSU award is tied to meaningful performance objectives to incentivize strong financial performance
SeveranceParticipation in Executive Separation and Change in Control Plan, as described below, with certain modifications as described below under “CEO Offer Letter Agreement”Terms designed to attract Mr. Bozeman from his then-current employment during the company’s transformation
RelocationParticipation in the company’s executive relocation policy, as well as reimbursement for transaction costs and make-whole payments associated with the sale of his prior homesDesigned to facilitate Mr. Bozeman’s relocation to the company’s headquarters as soon as practicable, which was completed during fiscal 2023, and Mr. Bozeman’s negotiation and execution of the offer letter agreement
Perquisites
Personal use of company aircraft up to $100,000
Annual executive physical paid for by the company
Limited personal aircraft use designed to maximize Mr. Bozeman’s focus on company matters
Annual executive physical encouraged to facilitate Mr. Bozeman’s health and wellness
(1)In 2020, all NEOs had at least a portion of their incentive compensation plan aligned to Enterprise APTI.
(2)APTI included an adjustment related to a loss on a sale-leaseback of a company-owned data center and adjustments related to M&A activity.
(3)In 2020, Mr. Pinkerton had additional alignment to NAST APTI.
(4)In 2020, Mr. Short had additional alignment to Global Forwarding APTI.
As discussed above, for fiscal 2020, a portion of the annual incentive compensation plan for each NEO, other than the CEO, was tied to achievement of personal MBOs that were set at the beginning of the year. Performance against these MBOs was evaluated after year end, with the CEO making recommendations to the Compensation Committee on the achievement of each NEO’s MBO.The Compensation Committee then determined the level of achievement of the MBOs to determine the level of payout for this component of the plan. Each NEO’s MBOs are described in more detail in the tables beginning on page 28.

Equity Compensation
We use equity compensation as our primary tool for aligning our executives with long-term shareholder interests, rewarding them for the achievement of overall company performance, and retaining them at C.H. Robinson. Equity compensation represents approximately 63 percent of our CEO's total target compensation and approximately 51 percent of target compensation for other NEOs. Equity compensation for our executive officers is performance based and highly variable based on growth in company earnings and stock price appreciation. We believe equity compensation is an integral component of meeting our compensation goals as outlined in our compensation philosophy. Our shareholder-approved equity incentive plan is designed to give us flexibility to achieve these objectives. It allows us to grant performance based restricted shares and stock units; time based stock options, restricted shares, and stock units; and other types of equity compensation. Executive officers, other employees, and directors may receive equity compensation.
Equity awards made to our NEOs are generally granted in the form of performance based restricted shares and time based stock options, weighted equally by fair value. Both the performance based restricted shares and time based stock option awards vest over five calendar years. Given the large percentage of their total compensation that is equity, the performance vesting formula that is based on growth in company profitability, and the long-term nature of the vesting and delivery, we believe these awards are an effective tool for creating long-term ownership, aligning our executives’ interests
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2020 EXECUTIVE COMPENSATIONExecutive Compensation
with thoseCompensation Arrangement for Mr. Anderson’s Service as Interim Chief Executive Officer
In his role as Interim Chief Executive Officer, Mr. Anderson received an annual base salary of our shareholders, and linking executive officer compensation to our long-term company growth strategy. We continue to monitor market trends and plan enhancements related to our equity award design.
Performance Based Restricted Shares
For our performance based restricted share awards, vesting may occur each year$1.1 million, an annual target cash incentive of 155% of base salary (prorated for up to five calendar years, based on company performance over that period of time. Any performance based restricted shares that are unvested at the endportion of the five years are forfeited backyear during which Mr. Anderson served as Interim Chief Executive Officer), and RSUs having a grant date value equal to $2.5 million, which were scheduled to vest on the first anniversary of the date of grant, provided that Mr. Anderson continued to provide service to the company. Performance vesting is constructed incompany as Interim Chief Executive Officer or as a manner as to vest 0 to 100 percent of the award based on the change in diluted earnings per share from the prior year’s achievement, over the five-year vesting period of the award. Additionally, an award may vest zero when there is not year-over-year diluted earnings per share growth, as was experienced by participants in 2019director. The RSUs vested January 1, 2024 and 2020.
The annual vesting percentage for performance based restricted share awards is equal to the year-over-year percentage increase (or decrease) in diluted earnings per share, plus ten percentage points.
For all performance based restricted share awards made to NEOs in 2015 through 2020, we have a post-vest holding period whereby the standard delivery of all vested shares occurs on the earlier of two years after termination of employment or two years following the end of the five-year vesting period. We believe a delayed delivery after vesting or termination strengthens our employment agreements and aligns with shareholders’ interests.
Dividend equivalents are paid to participants in cash on all performance based restricted shares, vested or unvested. Dividend equivalents provide an important link between the executives’ stake in the company and its long-term health. It also better aligns them with our shareholders, who receive approximately 50 percent to 55 percent of company earningswill be settled in the form of dividends.company stock upon termination of his service on the Board.
Separation Arrangement with Mr. Zechmeister for Chief Financial Officer Transition
As described above, the company is searching for a new Chief Financial Officer to replace Mr. Zechmeister, who will remain with the company as Chief Financial Officer until his successor is appointed or no later than May 31, 2024 as part of the transition. Following his separation from the company, Mr. Zechmeister will receive severance benefits in accordance with the terms of the Executive Separation and Change in Control Plan described below as a result of the involuntary termination of his employment without cause. In addition, Mr. Zechmeister will be entitled to a prorated payout of his target annual cash incentive opportunity for fiscal 2024 (which will be the same as his target opportunity for 2023).
Retention Grants for Executive Officers
In February 2023, in consultation with its independent compensation consultant, the Talent & Compensation Committee granted an executive transition award to certain executive officers to retain our leadership team during the CEO transition.
In determining the award amounts, the Talent & Compensation Committee considered several factors including the competitive market for talent and the importance of continuity amongst our NEOs to drive the company’s strategic transformation over the next few years.
The fairfollowing chart outlines the value of each performance based restricted share award is established on the date of grant. For grants of performance based restricted shares and stock units, the fair value is established based on the market price of our common stock on the dateterms of the grant, discountedawards for post-vesting holding restrictions.
Performance based restricted share annual vesting percentage information is set forth in the following table:
Performance Vesting Year2015
Grant
2016
Grant
2017
Grant
2018
Grant
2020
Grant (1)
201612% — —
20179%9% —
201843%43%43% —
2019 0%0% 0% 0% —
20200%0% 0% 0%0%
Total Cumulative Vesting64%52% 43% 0%0%
Vesting Years Remaining 0 1 2 3 4
our NEOs who received these retention grants:
NEO
Executive Transition
Equity Award Value
($)
Vesting Terms of Equity Award
Michael P. Zechmeister(1)
800,000 100% vesting on the first anniversary of the grant date
Arun D. Rajan(2)
3,500,000 50% vesting on the 18-month anniversary of the grant date and the remaining 50% vesting on the three-year anniversary of the grant date
Angela K. Freeman(1)
3,000,000 
Michael J. Short(1)
2,100,000 
(1)Due to changes in the timing of the annual equity grant cycle, the annual performance based restricted share grants that were historically granted in DecemberRSUs were granted in February.on 2/8/2023.
Stock Options
Stock option awards vest ratably over five years. For grants of time based stock options, the fair value is established using the Black-Scholes option pricing model. Incentive stock option annual vesting percentage information is set forth in the following table:(2)RSUs were granted on 1/1/2023.
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20212024 Proxy Statement

2020 EXECUTIVE COMPENSATION
Vesting Year2015
Grant
2016
Grant
2017
Grant
2018
Grant
2020
Grant (1)
201620% — — — —
201720% 20%
201820% 20% 20% — —
2019 20% 20% 20% 20%
202020% 20% 20% 20% 20%
Total Cumulative Vesting100%80% 60% 40% 20%
Vesting Years Remaining 0 1 2 3 4
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(1)Due to changes in the timing of the annual equity grant cycle, the annual time based stock option grants that were historically granted in December were granted in February.
V. Additional Compensation Policies and Practices
Equity Plan Acceleration and Post-Employment Vesting
We do not have a separate severance pay plan for NEOs.
Our equity award agreements with our NEOs include provisions that allow Board discretion to accelerate vesting, in full, if a change in control occurs(1), or if employment ends due to death or disability. Stock options granted to our NEOs will fully vest and become exercisable immediately in connection with the same events. This treatment for performance based restricted share awards and time based stock option awards has been adopted primarily because it is seen to effectively create incentives for our executive team to obtain the highest value possible should we be acquired in the future, because it is expected to provide a powerful retention device during the uncertain times preceding a change in control transaction, and because it provides employees the same opportunity as shareholders to participate in the change in control event.
Post-employment vesting of both performance based restricted share and time based stock option grants (for reasons other than death, disability, and change in control) is tied to non-compete agreements and provides protections to the company and our relationships with our employees, customers, and service providers. For both types of equity grants, the following post-employment vesting is available, based on age and tenure with the company following a minimum of five years of service:
Sum of Age and Tenure at Termination of Employment
Post-Employment
Additional Vesting
Less than 502 Years
At least 50 but less than 603 Years
At least 60 but less than 704 Years
70 and greater5 Years
Employment Agreements
C.H. Robinson uses employment agreements to protect against former employees soliciting our employees, customers, and service providers. All employees sign agreements acknowledging their understanding of company policies and committing to certain confidentiality obligations. Certain employees, including all NEOs, sign an employment agreement that includes more restrictive non-competition and non-solicitation covenants. Typically, these agreements do not commit to post-termination compensation. Other than Mr. Zechmeister(2), the company does not have severance plan commitments to any NEOs except for the continued vesting provision listed above in the Equity Plan Acceleration and Post Employment Vesting section.
2021 Proxy Statement
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2020 EXECUTIVE COMPENSATIONExecutive Compensation
(1)If a change in control2023 Elements of our company occurs, the Compensation Committee may take such actions with respect to outstanding equity awards as it deems appropriate under the circumstances, which may include (i) providing for the continuation, assumption, or replacement of outstanding awards by the surviving or successor entity; (ii) providing that outstanding awards will terminate upon or immediately prior to the consummation of such change in control; (iii) providing that outstanding awards will vest and become exercisable or payable, in whole or in part, prior to or upon consummation of such change in control, or upon termination of a NEO’s employment; or (iv) providing for the cancellation of any outstanding award in exchange for a payment equal to the intrinsic value of the award at the time of the change in control. The Compensation Committee may specify the action to be taken in an award agreement or take the action prior to or coincident with the change in control and is not required to treat all awards or all NEOs similarly.
(2)If Mr. Zechmeister’s employment is involuntarily terminated other than for documented performance or misconduct issues, or if his role and associated compensation is substantially changed without his consent, and he enters into a separation agreement with the company, he will be entitled to severance equal to his annual base salary, one-half of which will be paid within 30 days after execution of the separation agreement and one-half of which will be paid 26 weeks after his termination date.
Officer-Only Benefits
C.H. Robinson places a high value on all roles throughout our company and on consistency of culture and management approach. We do not provide our executives and managers with any unique perquisites or compensation plans.
The Supplemental All Other Compensation table found on page 34 contains information about the benefits and perquisites for each of the NEOs, including the aggregate incremental cost of the perquisites.
Other Broad-Based Employee Benefits
Our NEOs are eligible to participate in all the same benefit programs as other C.H. Robinson employees. These include:
Employee 401(k) Retirement Plan
We believe that saving for retirement is important for our employees. C.H. Robinson maintains a 401(k) retirement plan that meets the requirements of an ERISA qualified plan and the Internal Revenue Code. Our U.S. employees are eligible to contribute up to 75 percent of their cash compensation to the 401(k) plan, subject to Internal Revenue Service limitations. To support our compensation objectives, in 2020, the company matched 100 percent of the first 6 percent of eligible compensation that employees contributed to the plan during the year. However, C.H. Robinson suspended the match on the 401(k) plan from May 22, 2020, through the end of the year, which was enacted as part of our cost savings initiatives related to the COVID-19 pandemic. The match was reinstated on January 1, 2021.
Employee Stock Purchase Plan
Because we believe in aligning employee interests with our shareholders and our long-term company performance, C.H. Robinson maintains an employee stock purchase plan (ESPP) that meets the requirements of the Internal Revenue Code.
Employee Health and Welfare Benefits
To support our goal to provide competitive compensation and benefits, the company sponsors several health and welfare benefit plans for our employees: health, dental, vision, flexible medical and dependent care spending, short-term disability and long-term disability, life insurance, and holiday and other paid time off.

VI. Compensation Process
The Compensation Committee
The Compensation Committee is responsible for assisting the Board of Directors in:
(1)Reviewing the performance of the chief executive officer;
(2)Determining all elements of the compensation and benefits for the chief executive officer and other executive officers of the company;
(3)Reviewing and approving the company’s compensation program, including equity-based plans, for management employees generally;
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2021 Proxy Statement

2020 EXECUTIVE COMPENSATION
(4)Overseeing the company’s process of conducting advisory shareholder votes on executive compensation; and
(5)Reviewing the executive officers’ employment agreements; separation and severance agreements; change in control agreements; and other compensatory contracts, arrangements, and benefits.
The Compensation Committee Report on executive compensation is found on page 39 of this Proxy Statement.
Cash Compensation
At every February Compensation Committee meeting, our chief executive officer presents to the Compensation Committee his recommendations on base salary compensation for the company’s executive leaders, including each of the NEOs. The chief executive officer does not make a recommendation on his own compensation. The Compensation Committee determines the chief executive officer’s compensation, as well as approves the compensation for the other NEOs.
Additionally, at this same meeting, after the financial results of the previous year have been finalized, our chief executive officer presents to the Compensation Committee his recommendation on annual cash incentive compensation plans for the company’s executive leaders, including each of the NEOs. During this meeting, the Compensation Committee certifies the APTI results and corresponding incentive compensation for the executive officers for the prior year and approves recommended annual cash incentive targets for the current year.
The Compensation Committee considers many factors when setting compensation plans and awards, including company performance, NEOs’ responsibilities, officer performance, position tenure, experience, and survey information from independent experts. For the past seven years, the Compensation Committee engaged Aon Hewitt to present executive compensation market data and practices information to the Compensation Committee in preparation for determining and approving executive compensation. Given the digital transformation underway at the company, the Compensation Committee is continually assessing best practices related to the core components, general principles, and compensation philosophy needed to support its business strategies and to enhance long-term shareholder value creation. We will continue to seek independent consultative input on these matters going forward.

Equity Compensation
In 2020, our NEOs were awarded performance shares and time-based stock options. Our chief executive officer presents equity recommendations to the Compensation Committee for our executive officers, excluding himself. The Compensation Committee determines the chief executive officer’s equity compensation award. The Compensation Committee approves the awards for each of the executive officers and approves the equity grants to all other recipients through the Non-Executive Stock Award Committee. The grant date of awards for all employees, including the NEOs, is the date of Compensation Committee approval.


2021 Proxy Statement
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2020 EXECUTIVE COMPENSATION
VII. Named Executive Officer Compensation
Realized Annual Compensation
C.H. Robinson views total realized annual compensation as total cash (base salary and annual cash incentive compensation) plus equity vested during that calendar year. As described in the Equity Compensation section beginning on page 23, the equity compensation of our executive officers is performance based and has significant variability based on company earnings growth. Because performance equity may not vest, we think it is most appropriate to measure total compensation in this way. In the Total 2020 Realized Annual Compensation table for each NEO below, the values in the “Equity Earned” column reflect the actual percentage vested during the calendar year multiplied by the grant date fair value for the performance based restricted shares and the time based stock options vesting during each year.
Performance Evaluation and Compensation
The NEOs are all paid the same compensation elements. The determination of the NEOs’ 20202023 base salary, annual cash incentive compensation, and equity compensation (both performance based restricted sharesPSUs and time based stock options)RSUs) followed the practices explained above in “Compensation Philosophy and Structure” for executive compensation. Each member of this group is evaluated, and histhe NEOs’ compensation is based on several different factors, including, but not limited to, the following:
(1)1.Title, role, scope of responsibility, and relative experience;
(2)2.Tenure in their position;
(3)3.Subjective evaluation of individual performance;
(4)4.Financial performance of the company as a whole;
(5)5.Financial performance of the portion of the business the NEO leads, where applicable; and
(6)Comparison to6.Benchmarking of market survey information.practices.
The Talent & Compensation Committee annually conducts an evaluation of the chief executive officer’sCEO’s performance. Based on this evaluation, the Talent & Compensation Committee determines the base salary, annual cash incentive compensation, and equity compensation of the chief executive officer.CEO.
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Executive Compensation
Evolution of our Compensation Program
Over the past number of years, C.H. Robinson has been on a journey to modernize our compensation programs to drive profitable growth throughout the transportation cycle and more closely align our programs with the external market and governance best practices. The chart below shows the company’s evolution and a look ahead to 2024.
2022 Changes
Adopted formal peer group
No longer pay dividends on unvested shares for grants in 2022 and forward
Adopted double trigger vesting for time-based equity awards
PSU performance measures changed to EPS and budgeted % AGP Growth
Instituted formal Executive Severance and Change in Control Plan
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2023 Changes
Disclosed peer group in proxy statement and utilized peer group for executive compensation pay decisions
Adopted double trigger vesting for performance-based equity awards
Removed counting of vested stock options and unvested performance shares for stock ownership guidelines
PSU performance measures changed to 3-year cumulative EPS, 3-year cumulative AGP, and 3-year average adjusted operating margin
Annual incentive plan measures changed to blended volume growth, adjusted operating margin %, and MBOs/SBOs
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2024 Changes
Expansion of peer group to include three additional companies
Removal of post-vesting hold period
Removal of continued vesting of equity awards after voluntary resignations and involuntary terminations not for cause
Implemented market-aligned retirement provision for executives after qualifying retirement
PSU simplified to a single performance measure (3-year cumulative EPS)
Utilization of 30-day average price for the period prior to grant date to determine numbers of shares for issuance
In 2023, we continued our ongoing compensation program evolution to better align with best practices and consider the incentive objectives of our cyclical business. The introduction of the peer group and policy changes described above considered feedback from our shareholders and were intended to foster competitive and fair practices for our shareholders. The design changes to our annual incentive plan and PSUs were intended to drive our key business objectives while considering the design and goal-setting needs within our cyclical business.
Changes made in 2024 continue to serve the objectives described above. The expansion of our peer group, removal of the one-year delayed settlement of equity awards, and updates to our post-employment vesting conditions were intended to maintain competitiveness among a changing competitive and regulatory landscape. We also simplified our PSU program to ensure a greater line of sight to and focus on EPS, which we believe will continue to support our business strategy and drive shareholder returns across market cycles and long-term secular changes.
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Executive Compensation
Mix of Executive Compensation
Our current CEO’s target total compensation includes a mix of pay that is heavily weighted to long-term, equity-based incentives (72%). On average, our NEOs other than our CEO have an average of 63% of total compensation targeted to be paid in long-term, equity-based incentives. These figures are based on annual equity compensation awards only. This is consistent with our philosophy of strong linkage between pay and performance.
CEO 2023 Target Compensation(1)
Average Other NEO 2023 Target Compensation(2)
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(1)CEO 2023 Target Compensation refers to annual compensation elements of Mr. Bozeman’s 2023 compensation, and excludes sign-on and one-time payments related to his appointment as CEO in 2023. See “Executive Transitions” above for additional information.
(2)The compensation for the other NEOs excludes special retention equity grants in connection with the CEO transition.
(3)Equity compensation includes 60% PSUs and 40% RSUs.
(4)Equity compensation includes 50% PSUs and 50% RSUs.
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Executive Compensation
Components of Total Compensation
The elements of compensation are shown as a percentage of total compensation of the CEO and the NEOs other than the CEO. Our annual compensation components are as follows:
ElementObjectivePerformance Measured/Rewarded
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Base Salary
CEO(1)
NEO(2)
Attracts, retains, and rewards top talent and reflects each NEO’s responsibilities, performance, leadership potential, succession planning, and relevant market data.Provides NEOs with fixed compensation that serves as a vehicle to attract and retain. Rewards executives for key performance and contributions. Generally, we target the 50th percentile of our defined market for talent.
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Annual Cash Incentive
CEO(1)
NEO(2)
Motivates and rewards our executives for the achievement of financial performance and certain strategic goals for the company.
In 2023, the annual cash incentive had the following parameters:(3)
àEstablishment of wide goal posts for the financial measures with threshold payout at 25% and maximum payout at 200%.
àEstablishment of a payout range for MBOs/SBOs between 50% and 150%.
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Performance Stock Units (PSUs)
CEO(1)
NEO(2)
Aligns the interests of management and shareholders.
àAccounts for 50% of NEOs’ equity grant value and 60% of our CEO’s equity grant value.
à33.33% of PSUs are tied to diluted EPS, which aligns to business strategy for long-term performance, across varying market cycles and longer-term secular changes.
à33.33% of PSUs are tied to AGP, which aligns to our commitment to our customers and rewards management for profitable growth.
à33.34% of PSUs are tied to adjusted operating margin income, which aligns to our commitment to our shareholders on profitable growth.
àAll measures under the PSU awards have a cumulative three-year performance period and a one-year delayed distribution of shares.(4)
àTo reward for driving high levels of performance, participants may earn up to two times the number of shares granted.
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Restricted Stock Units (RSUs)
CEO(1)
NEO(2)
Aligns the interests of management and shareholders. Supports our desire to retain our critical talent to drive our long-term business transformation.
àAccounts for 50% of NEOs’ total equity grant value and 40% of our CEO’s total equity grant value.
àRSUs have a vesting period of three years and a one-year delayed distribution of shares.(4)
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(1)The CEO compensation elements are based on Mr. Bozeman's annualized compensation package excluding special grants and payments in connection with his appointment.
(2)The compensation elements for the other NEOs exclude special retention equity grants in connection with the CEO transition.
(3)The CEO Annual Cash Incentive Plan for 2023 for Mr. Bozeman was based on 100% financial goals.
(4)The CEO PSUs and RSUs do not have the same one-year delayed distribution of shares. As part of the evolution of our incentives, we are no longer deferring settlement for other NEOs in 2024.
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Executive Compensation
Performance Metrics and Goal Rigor
Annual Cash Incentive Compensation
NEO annual incentive compensation amounts are set as a percentage of base salary, to reflect the executive’s responsibilities, performance, and contribution to overall company goals. Below is a summary of the goals of the short-term incentive plan:
ENTERPRISE ADJUSTED OPERATING MARGIN
One of the measures used to determine the financial component of annual incentive compensation is adjusted operating margin. Adjusted operating margin is a non-GAAP financial measure calculated as operating income divided by AGP. AGP is also a non-GAAP financial measure calculated as gross profit excluding amortization of internally developed software utilized to directly serve our customers and contracted carriers. See the reconciliation of AGP and adjusted operating margin to gross profit and operating margin, respectively, in the management’s discussion and analysis in our Annual Report on Form 10-K for the fiscal year ended December 31, 2023. We believe adjusted operating margin is an appropriate measure for our annual cash incentive compensation because it rewards profitable growth, which is aligned with the interests of our shareholders.
ENTERPRISE VOLUME GROWTH
One of the measures used to determine the financial component of annual incentive compensation is enterprise volume growth. We believe enterprise volume growth is an appropriate measure for our annual cash incentive compensation because it rewards growth of the business, which is aligned with the interests of our shareholders. This measure is a blended volume measure across our four key modes: NAST truckload, NAST LTL, GF ocean, and GF air.
Each year, the Talent & Compensation Committee establishes target adjusted operating margin and volume growth for the enterprise at levels that are consistent with the company’s long-term expected results. Given the transactional nature of a significant portion of our business and our fluctuating adjusted gross profit margins due to market conditions, historically the company has found it difficult to forecast short-term performance. As such, we believe it is important to align targets more closely with our long-term growth goals, with some consideration given to shorter-term market trends and divisional business plans.
MANAGEMENT BUSINESS OBJECTIVES (MBOs)/STRATEGIC BUSINESS OBJECTIVES (SBOs)(1)
The Talent & Compensation Committee included MBOs/SBOs as part of our 2023 annual cash incentive compensation plan for each NEO, other than Mr. Bozeman, to incentivize the achievement of more individualized financial and operational objectives that are critical to our long-term strategy as well as our commitment to DEI. The MBOs/SBOs were designed to recognize the initiatives that help the company lower total operating expenses and focus on the long term success of the organization. The DEI MBO directly supports the company’s DEI goals and serves to hold leaders accountable for advancing the company’s DEI strategy.
(1)The 2024 Incentive Compensation Plan for the CEO will include MBOs/SBOs.
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Executive Compensation
PSUs
DILUTED EARNINGS PER SHARE (EPS)/ADJUSTED GROSS PROFIT (AGP)/ADJUSTED OPERATING MARGIN
Equity compensation is a critical part of how we incentivize and reward our leadership for enterprise performance. As our strategy in the organization evolves to meet the changing needs of our marketplace, we adopted a new equity plan, which included changes to align with that strategy. In designing the changes to our equity plan and awards, we had several key objectives: to support our business transformation and our strong, performance-oriented culture, to ensure we are market competitive in order to attract and retain top talent, to have high perceived value amongst participants, and, of course, to be aligned with our shareholders’ interests.
Our equity compensation philosophy is to pay for performance and reward profitable long-term growth. The metrics we use in our plan reward management for scaling the business and creating profitable market share growth. More specifically, diluted EPS aligns to our business strategy for long-term performance, across varying market cycles and longer-term secular changes. AGP and adjusted operating margin aligns to our commitment to our customers and rewards management for profitable growth.
Robert C. Biesterfeld Jr.,2023 Named Executive Officer Compensation
Base Salary
Annual base salary is designed to compensate our executive officers as part of a total compensation package necessary to attract, retain, and motivate high quality executives. Our 2023 base salaries, which took effect March 5, 2023, generally reflect the 50th percentile of our defined market for talent.
The Talent & Compensation Committee reviews base salaries annually and adjusts base salaries to reflect an NEO’s responsibilities, performance, leadership potential, succession planning, and relevant market data.
NEOTitle
2022
Base Salary
($)
2023
Base Salary
($)
%
Change
David P. Bozeman(1)
President and Chief Executive OfficerN/A1,000,000 N/A
Michael P. ZechmeisterChief Financial Officer740,000 740,000 — %
Arun D. RajanChief Operating Officer840,000 910,000 %
Angela K. Freeman
Chief Human Resources and ESG Officer575,000 575,000 — %
Michael J. ShortPresident of Global Forwarding625,000 625,000 — %
Scott P. Anderson(2)
Former Interim Present and Chief Executive Officer

N/A1,100,000 N/A
(1)Mr. Bozeman was appointed President and Chief CEO effective June 26, 2023 and therefore received a pro-rated portion of the salary noted in the chart.
(2)Mr. Anderson served as Interim President and CEO from January 1, 2023 to June 25, 2023 and therefore received a pro-rated portion of the salary noted in the chart.
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Executive OfficerCompensation
Mr. Biesterfeld started 2020Annual Cash Incentive Compensation
Introduction
The Talent & Compensation Committee approves an individualized incentive compensation plan for each NEO in the first quarter of the calendar year. The primary objectives of our annual cash incentive compensation are to motivate our people to grow our company profits, align pay with annual company performance, and motivate and incent the company’s executive leaders to achieve important goals aligned to their function or division MBOs (as described below in “MBOs/SBOs” in this Proxy Statement).
2023 Target Opportunities
The table below describes the structure of the 2023 annual cash incentive compensation plan.
Targets for NEOs 2023 Annual Cash Incentive Compensation Plan:
NEOTarget
Incentive as %
of Base Salary
$ Target
Incentive
($)
% Tied to
Enterprise
Volume
% Tied to
Enterprise Operating Margin
% Tied
to MBO
David P. Bozeman(1)
150 %776,712 50 %50 %%
Michael P. Zechmeister100 %740,000 35 %35 %30 %
Arun D. Rajan120 %1,092,000 35 %35 %30 %
Angela K. Freeman75 %431,250 35 %35 %30 %
Michael J. Short85 %531,250 35 %35 %30 %
Scott P. Anderson(1)
155 %822,137 35 %35 %30 %
(1)The $ Target Incentive reported reflects the target award pro-rated for the period of time of employment during the year.
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Executive Compensation
2023 Performance Levels and Achievement
Financial Metrics
The threshold, target, and maximum levels of blended volume growth and adjusted operating income margin percentage were set with the following objectives:
Establishment of wide goal posts for the financial measures with threshold payout at 25%, maximum payout at 200%, and any performance below threshold with payout at 0%;
The target level of performance is based on budget;
The relative difficulty of achieving each level is consistent from year to year;
The target level is challenging, but achievable, and reflects planned company performance; and
A threshold payment is made to reward partial achievement of the target, and a base salarymaximum payment rewards attainment of $975,000an aggressive, but potentially achievable, level of performance.
For performance between threshold and target or target and maximum, the achievement percentage is determined by linear interpolation. For financial metrics, the payout levels range from 25% to 200% of target. For the MBO/SBO metrics, the payout levels range from 50% to 150% of target.
In 2023, the Talent & Compensation Committee established target adjusted operating margin and volume growth for the enterprise at levels that are consistent with the company’s long-term expected results. Given the transactional nature of a significant portion of our business and our fluctuating adjusted gross profit margins due to market conditions, historically the company has found it difficult to forecast short-term performance.
The Talent & Compensation Committee certified the following actual performance levels of the financial metrics as shown in the chart below, resulting in payouts of 4% of target based on March 1, 2020,below threshold performance against all metrics other than GF air transaction volume:
2023 NEO Annual Incentive Compensation Financial Metrics
ThresholdTargetMaximum
NAST Truckload Volume
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NAST LTL Volume
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GF Ocean Volume
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GF Air Transaction Volume
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Enterprise Adjusted Operating Margin %
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Executive Compensation
MBOs/SBOs
The Talent & Compensation Committee included MBOs/SBOs as part of our annual compensation review cycle, moved to a base salary of $1,025,000. He earned annual cash incentive compensation of $467,577 for 2020 paid on February 26, 2021. Mr. Biesterfeld'sfiscal 2023 annual cash incentive compensation plan awarded compensation for each NEO, other than Mr. Bozeman, to incentivize the company's achievement of APTImore individualized financial and operational objectives that are critical to our long-term strategy as well as our commitment to DEI.

Scott P. AndersonMichael P. ZechmeisterArun D. RajanAngela K. FreemanMichael J. Short
Former Interim President and CEOChief Financial OfficerChief Operating OfficerChief Human Resources and ESG OfficerPresident of Global Forwarding
MBO/SBO Achievement %:103%97%98%102%100%
Objectives:
Expense Reduction: Achieve enterprise expense reduction of $250 million in 2023 by delivering $2.15 billion or lower in total operating expense, excluding one-time restructuring charges.
Enterprise Leadership: Leader’s contribution to overall enterprise success in 2023, including: contributions to streamlining the organization and the enterprise cost reduction goals; alignment with enterprise strategy, in actions and communications; engagement and collaboration with senior leadership team; driving team development and succession planning; active facilitation of CEO onboarding.
DEI: Year over year team progress toward the company’s 2025 DEI goals, which include leadership representation, engagement, hiring, and retention. Demonstrated leadership contributions and action steps to support and advance the company’s strategy to become a more diverse and inclusive organization.
Performance against the MBOs/SBOs were evaluated after year end, with the CEO, Mr. Bozeman, making recommendations to the Talent & Compensation Committee on the achievement of each NEO’s MBOs/SBOs. The Talent & Compensation Committee then determined the level of achievement of the MBOs/SBOs to determine the level of payout for this component of the plan. The actual target incentive opportunity and payouts, including each NEO’s MBOs/SBOs, are described in certain ranges. In February 2020 as part of our annual grant cycle, Mr. Biesterfeld received 34,611 performance based restricted shares and 161,820 time based stock options. Both of these equity awards began vestingmore detail in 2020.the tables beginning on page 76.
Robert C. Biesterfeld Jr. 20202023 NEO Annual Cash Incentive Compensation Plan
Annual Base Salary
Target
Incentive as %
of Base Salary
Maximum
Incentive as
% of Base
Salary
Target Enterprise
APTI
Growth %
Actual Enterprise
APTI
Growth %
$1,025,000140 %280 %%-15 %
The table below sets forth the weighted impact of actual performance against the financial metrics and MBOs/SBOs in the calculation of each NEO’s percentage of target incentive achieved and the resulting payout.

Performance for NEOs 2023 Annual Cash Incentive Compensation Plan:
Total 2020 Realized Annual Compensation: The following table illustrates Mr. Biesterfeld’s total realized compensation
NEOAchievement
Tied to
Enterprise Adjusted
Operating Margin
Achievement
Tied to
Enterprise
Volume
Achievement
Tied to
MBOs
(weighted)
Total Incentive Achievement % of Target
$ Total
Payout
Amount
($)
David P. Bozeman— %%N/A%13,741 (1)
Michael P. Zechmeister— %%97%32 %223,772 
Arun D. Rajan— %%98%31 %335,653 
Angela K. Freeman— %%102%32 %136,876 
Michael J. Short— %%100%31 %165,954 
Scott P. Anderson— %%103%32 %264,222 (1)
(1)Payout also prorated based on time in 2020 of $2,578,411, an increase of 21 percent from 2019. Mr. Biesterfeld was appointed CEO in May 2019 and his 2020 compensation is reflective of this change in role. For the period from May 1, 2020 through July 31, 2020, Mr. Biesterfeld's base salary payments were reduced by 50%, which was enacted as part of our cost savings initiatives related to the COVID-19 pandemic. Our business results in 2020 led to a decline in enterprise APTI, resulting in low annual cash incentive compensation as well as no performance vestingrole for our performance based restricted shares.2023.
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Executive Compensation
Base Salary PaidCash Incentive CompensationTotal Cash
% of
Target
Incentive
Achieved(1)
Equity Earned(2)
Total Realized
Compensation
2020$878,750 $467,577 $1,346,327 33 %$1,232,084 $2,578,411 
2019870,833 428,895 1,299,728 42 %827,858 2,127,586 
2018600,000 849,620 1,449,620 136 %1,217,312 2,666,932 
Equity Compensation

Introduction
We use equity compensation as our primary tool for aligning our executives with long-term shareholder interests, rewarding them for the achievement of long-term, overall company performance, and retaining them at C.H. Robinson. Equity compensation represents approximately 72% of our CEO’s total target compensation and approximately 63% of target compensation for other NEOs. Our equity compensation philosophy is to pay for performance and reward profitable long-term growth. We believe equity compensation is an integral component of meeting our compensation goals as outlined in our compensation philosophy. Our shareholder-approved equity incentive plan is designed to give us flexibility to achieve these objectives.
Equity Mix and Vesting Terms
% of Target Compensation
CEOOther NEOs
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(1)See the disclosures
40% (CEO) or 50% (Other NEOs)60% (CEO) or 50% (Other NEOs)
RESTRICTED STOCK UNITS (RSUs)
àTime-based
àThree-year ratable
PERFORMANCE STOCK UNITS (PSUs)
àPerformance-based
à33.33% of PSUs tied to three-year cumulative EPS growth
à33.33% of PSUs tied to three-year cumulative adjusted gross profit growth
à33.34% of PSUs tied to three-year average adjusted operating income margin percentage
In 2023, equity awards made under the heading Non-Equity Incentive Plan Compensation, beginning on page 22, pertaining to the impactour NEOs consisted of company APTIPSUs and RSUs that vest over a three-year period. As outlined in the calculationchart above, PSUs vest based on the cumulative three-year diluted EPS growth (weighted as 33.33%), cumulative three-year AGP growth (weighted as 33.33%), and the average three-year adjusted operating income margin percentage of the NEO'scompany (weighted as 33.34%). Settlement of PSUs and RSUs will be deferred for another year following the final vesting date for NEOs other than the CEO. As part of the evolution of our incentives, we are no longer deferring settlement for other NEOs in 2024.
Given the large percentage of target incentive payout achieved.
(2)Seetheir total compensation that is awarded in the disclosures made underform of equity and the headings Performance Based Restricted Shareslong-term nature of the vesting and Stock Options on page 24 pertaining to the actual vesting percentages earned.
Michael P. Zechmeister, Chief Financial Officer
Mr. Zechmeister started 2020 at a base salary of $700,000 and on March 1, 2020, as partsettlement, we believe these awards are an effective tool for creating long-term ownership, aligning our executives’ interests with those of our annualshareholders, and linking executive officer compensation review cycle, moved to a base salary of $710,000. Mr. Zechmeister's annual cash incentive compensationour long-term company growth strategy. We continue to monitor market trends and plan awarded compensation for the company's achievement of APTI in certain ranges, as well as MBOs. Mr. Zechmeister’s MBOs were tied to achievement of global market share growth, improvements in financial capabilities, as well as achievement of enterprise cost savings. Mr. Zechmeister's annual cash incentive compensation of $290,084 for 2020 paid on February 26, 2021. In February 2020 as part of our annual grant cycle, Mr. Zechmeister was awarded 11,772 performance based restricted shares and 55,020 time based stock options. Both of these equity awards began vesting in 2020.
Michael P. Zechmeister 2020 Annual Cash Incentive Compensation Plan
Annual Base Salary
Target
Incentive as %
of Base Salary
Maximum
Incentive as
% of Base
Salary
% Tied to Enterprise APTI% Tied to Division APTI% Tied to MBO
$710,00085 %170 %80 %%20 %

Target Enterprise APTI Growth %Actual Enterprise APTI Growth %Target Division APTI Growth %Actual Division APTI Growth %MBO Achievement %
%-15 %N/AN/A110 %

Total 2020 Realized Annual Compensation: The following table illustrates Mr. Zechmeister’s total realized compensation in 2020 of $1,572,998, an increase of 136 percent from 2019. Mr. Zechmeister was hired as CFO on August 30, 2019, resulting in pro-rated compensation for that year. For the period from May 1, 2020 through July 31, 2020, Mr. Zechmeister's base salary payments were reduced by 20%, which was enacted as part of our cost savings initiativesenhancements related to the COVID-19 pandemic. Our business results in 2020 ledour equity award design and to a decline in enterprise APTI, resulting in low annual cash incentivemodernize our compensation as well as no performance vesting for our performance based restricted shares.
Base Salary Paid
Cash Incentive Compensation(1)
Total Cash
% of
Target
Incentive
Achieved(2)
Equity Earned(3)
Total Realized
Compensation
2020$666,839 $290,084 $956,923 48 %$616,075 $1,572,998 
2019235,985 283,945 519,930 42 %145,266 665,196 

(1)2019 figure includes $200,000 sign-on bonus.
(2)See the disclosures made under the heading Non-Equity Incentive Plan Compensation, beginning on page 22, pertaining to the impact of company APTI in the calculation of the NEO's percentage of target incentive payout achieved.
(3)See the disclosures made under the headings Performance Based Restricted Shares and Stock Options on page 24 pertaining to the actual vesting percentages earned.plans accordingly.
20212024 Proxy Statement
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2967

2020 EXECUTIVE COMPENSATION


Executive Compensation
Christopher J. O’Brien, Chief Commercial OfficerPSUs
Mr. O’Brien started 2020 atOverview
2023 PSU Grants: In 2023, we introduced PSUs with revised performance periods and a base $500,000revised mix of performance metrics. PSUs granted in 2023 are eligible to vest based on the following performance measures, each with a payout ranging from 0% to 200% of target based on achievement against the performance measure:
33.33% of the PSUs vest based on a three-year cumulative dilutive EPS achievement target.
33.33% of the PSUs vest based on a three-year cumulative AGP achievement target.
33.34% of the PSUs vest based on a three-year average adjusted operating margin percentage achievement target.
2022 and 2021 PSU Grants: PSUs granted in 2022 and 2021 are eligible to vest based on March 1, 2020, as partthe following performance measures, each with a payout ranging from 0% to 200% of target based on achievement against the performance measure:
75% of the PSUs vest based on an average three-year EPS growth target.
25% of the PSUs vest based on an annual AGP achievement target, which may be achieved over three separate performance periods under the award.
For all our PSU awards, the fair value is established based on the market price of our annual compensation review cycle, moved to a base salary of $515,000. Mr. O'Brien's annual cash incentive compensation plan awarded compensationcommon stock for the company's achievementtarget number of APTI in certain ranges, as well as MBOs. Mr. O’Brien’s MBOs were tied to achievementshares on the date of global market share growththe grant and key metrics aligned to customer engagement. Mr. O'Brien's annual cash incentive compensationis then discounted because employees have a one year deferred settlement following the completion of $184,811 for 2020vesting. Dividend equivalents are accrued on the PSUs but are not paid on February 26, 2021. In February 2020 as part of our annual grant cycle, Mr. O'Brien was awarded 7,663 performance based restricted sharesuntil, and 33,690 time based stock options. Both of these equity awards began vesting in 2020.

Christopher J. O’Brien 2020 Annual Cash Incentive Compensation Plan
Annual Base Salary
Target
Incentive as %
of Base Salary
Maximum
Incentive as
% of Base
Salary
% Tied to Enterprise APTI% Tied to Division APTI% Tied to MBO
$515,00065 %130 %70 %%30 %

Target Enterprise APTI Growth %Actual Enterprise APTI Growth %Target Division APTI Growth %Actual Division APTI Growth %MBO Achievement %
%-15 %N/AN/A108 %

Total 2020 Realized Annual Compensation: The following table illustrates Mr. O’Brien’s total realized compensation in 2020 of $1,067,819, an increase of 13 percent from 2019. For the period from May 1, 2020 through July 31, 2020, Mr. O'Brien's base salary payments were reduced by 20%, which was enacted as part of our cost savings initiatives related to the COVID-19 pandemic. Our business results in 2020 led to a decline in enterprise APTI, resulting in low annual cash incentive compensation as well as noextent, the PSUs vest.
The performance vesting of PSU awards from 0% to 200% is based on threshold, target, and maximum levels of achievement. Our PSUs vest based on company performance over a three-year period of time. Any PSUs that are unvested at the end of the applicable vesting period are forfeited back to the company.
For all PSU awards made to NEOs in 2021, 2022, and 2023, we have a post-vest holding period whereby the standard settlement of all vested shares occurs on the earlier of one year after the three-year vesting period, or two years after termination of employment subject to the NEO’s compliance with a non-compete agreement and certain other arrangements in favor of C.H. Robinson.
PSUs for ourthe 2021 – 2023 Performance Period
The EPS growth awards issued in 2021 measuring performance from 2021 through 2023 resulted in no payout based restricted shares.on achievement below threshold as set forth in the below chart.
Base Salary PaidCash Incentive CompensationTotal Cash
% of
Target
Incentive
Achieved(1)
Equity Earned(2)
Total Realized
Compensation
2020$482,412 $184,811 $667,223 55 %$400,596 $1,067,819 
2019500,000 126,975 626,975 42 %316,439 943,414 
2018500,000 499,201 999,201 166 %1,283,716 2,282,917 

2021 – 2023 COMPOUNDED EPS GROWTH PERFORMANCE LEVELS AND ACHIEVEMENT
ThresholdTargetMaximum
EPS Growth
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(1)See the disclosures made under the heading Non-Equity Incentive Plan Compensation, beginning on page 22, pertaining to the impact of company APTI in the calculation of the NEO's percentage of target incentive payout achieved.
(2)See the disclosures made under the headings Performance Based Restricted Shares and Stock Options on page 24 pertaining to the actual vesting percentages earned.
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Executive Compensation
Adjusted Gross Profit PSUs
The AGP awards issued in 2021 measuring performance from 2021 through 2023 did not vest and resulted in no payout based on achievement below threshold as set forth in the below chart.
2021 AND 2022 AGP PERFORMANCE LEVELS AND ACHIEVEMENT(1)
ThresholdTargetMaximum
30AGP
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2021 Proxy Statement

2020 EXECUTIVE COMPENSATION(1)2023 performance achievement applies to one-third of AGP granted in 2021 and 2022.

RSUs

Mac S. Pinkerton, PresidentRSUs granted in 2023 vest over a three-year period, or two years after termination of North American Surface Transportation
Mr. Pinkerton started 2020 atemployment, subject to the NEO’s compliance with a base $475,000non-compete agreement and certain other covenants in favor of C.H. Robinson. The 2023 RSUs also have a post-vesting holding period whereby the standard settlement of vested shares is delayed for one year. For grants of RSUs, the fair value is established on March 1, 2020, as partthe grant date, based on the market price of our annual compensation review cycle, moved to a base salary of $600,000. Mr. Pinkerton's annual cash incentive compensation plan awarded compensation for NAST’s achievement of API in certain ranges,common stock on the company's achievement of APTI in certain ranges, as well as MBOs. Mr. Pinkerton’s MBOs were tied to achievement of global market share growth and key metrics aligned to business transformation. Mr. Pinkerton's annual cash incentive compensation of $196,681 for 2020 paid on February 26, 2021. In February 2020 as part of our annual grant cycle, Mr. Pinkerton received 9,365 performance based restricted shares and 41,170 time based stock options. Both of these equity awards began vesting in 2020.

Mac S. Pinkerton 2020 Annual Cash Incentive Compensation Plan
Annual Base Salary
Target
Incentive as %
of Base Salary
Maximum
Incentive as
% of Base
Salary
% Tied to Enterprise APTI% Tied to Division APTI% Tied to MBO
$600,00080 %160 %30 %40 %30 %

Target Enterprise APTI Growth %Actual Enterprise APTI Growth %Target Division APTI Growth %Actual Division APTI Growth %MBO Achievement %
%-15 %%-33 %104 %

Total 2020 Realized Annual Compensation: The following table illustrates Mr. Pinkerton’s total realized compensation in 2020 of $1,021,065, an increase of 18 percent from 2019. For the period from May 1, 2020 through July 31, 2020, Mr. Pinkerton's base salary payments were reduced by 20%, which was enacted as part of our cost savings initiatives related to the COVID-19 pandemic. Our business results in 2020 led to a decline in enterprise and NAST APTI, resulting in low annual cash incentive compensation as well as no performance vesting for our performance based restricted shares.
Base Salary PaidCash Incentive CompensationTotal Cash
% of
Target
Incentive
Achieved(1)
Equity Earned(2)
Total Realized
Compensation
2020$544,250 $196,681 $740,931 41 %$280,134 $1,021,065 
2019475,000 212,943 687,943 56 %177,291 865,234 


(1)See the disclosures made under the heading Non-Equity Incentive Plan Compensation, beginning on page 22, pertaining to the impact of company APTI in the calculationdate of the NEO's percentagegrant for the number of target incentive payout achieved.
(2)Seeshares granted, and is discounted for post-vesting holding restrictions that restrict the disclosures made under the headings Performance Based Restricted Shares and Stock Options on page 24 pertaining awardees’ ability to the actual vesting percentages earned.sell or transfer vested awards for a specified period of time.
20212024 Proxy Statement69

Executive Compensation
Other Compensation
Broad-Based Employee Benefits
Our NEOs are eligible to participate in all the same benefit programs as other C.H. Robinson employees. These include:
EMPLOYEE 401(K) RETIREMENT PLAN
We believe that saving for retirement is important for our employees. C.H. Robinson maintains a 401(k) retirement plan that is intended to meet the requirements of ERISA and be a qualified plan under the Internal Revenue Code. Our U.S. employees are eligible to contribute up to 75% of their cash compensation to the 401(k) plan, subject to Internal Revenue Service limitations. To support our compensation objectives, in 2023, the company matched 100% of the first 6% of eligible compensation that employees contributed to the plan during the year.
EMPLOYEE STOCK PURCHASE PLAN
Because we believe in aligning employee interests with our shareholders and our long-term company performance, C.H. Robinson maintains an employee stock purchase plan with a 15% discount that is intended to meet the requirements of the Internal Revenue Code for preferential tax treatment.
EMPLOYEE HEALTH AND WELFARE BENEFITS
To support our goal to provide competitive compensation and benefits, the company sponsors many health and welfare benefit plans for our employees such as healthcare; an employee assistance program, which provides additional no-cost access to behavioral health benefits and counseling; and various voluntary benefits such as critical illness and accident insurance, short-term and long-term disability, life insurance, paid holidays, and other paid time off.
Perquisites (Executive Officer Benefits)
C.H. Robinson places a high value on all roles throughout our company and on consistency of culture and management approach. We do not provide our executives and managers with any unique perquisites or compensation plans except in certain circumstances such as relocation benefits. Certain benefits were provided to our new CEO as part of his hire in June 2023 to address the specific circumstances around his joining our company, which are described above under “Executive Transitions.”
The Supplemental All Other Compensation table found on page 77 contains information about the benefits and perquisites for each of the NEOs, including the aggregate incremental cost of the perquisites.
Compensation Process
Role of Talent & Compensation Committee
The Talent & Compensation Committee is responsible for assisting the Board of Directors in:
1.Reviewing the performance of the Chief Executive Officer;
2.Determining all elements of the compensation and benefits for the Chief Executive Officer and other executive officers of the company;
3.Reviewing and approving the company’s compensation program, including equity-based plans, for management employees generally;
4.Reviewing the company’s policies, practices, performance, disclosures, and progress toward goals with respect to significant issues of DEI and human capital management, including the alignment of such efforts with the company’s overall strategy;
5.Overseeing the company’s process of conducting advisory shareholder votes on executive compensation; and
6.Reviewing executive officers’ employment agreements; separation and severance agreements; change in control agreements; and other compensatory contracts, arrangements, and benefits.
7.Additionally, in 2023, as described above under “Executive Transitions,” the compensation for Mr. Bozeman, our new CEO, was determined by the Talent & Compensation Committee, with assistance from its independent compensation consultant, after reviewing market data and considering specific factors related to his hire, which terms were the subject of an arm’s length negotiation between the Talent & Compensation Committee and Mr. Bozeman. Please refer to that discussion for the specific factors that were considered in setting Mr. Bozeman’s compensation.
The Talent & Compensation Committee Report on executive compensation is found on page 75.
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Executive Compensation
Role of Management
Our management team partners very closely with the Talent & Compensation Committee and our independent compensation consultant to execute on our pay for performance strategy. The CEO assists the Talent & Compensation Committee in setting the strategic direction of our executive compensation programs, evaluates the performance of the NEOs (excluding himself), and makes recommendations to the Talent & Compensation Committee regarding their compensation in consultation with the Chief Human Resources and ESG Officer. Although it gives significant weight to the CEO’s recommendations, the Talent & Compensation Committee retains full discretion in making compensation decisions. The CEO is not present during the decisions on his pay. The CEO, the Chief Human Resources and ESG Officer, and the Chief Financial Officer also participate in developing and recommending performance criteria and measures for our NEOs under our annual and equity incentive plans for consideration by the Talent & Compensation Committee. No other executive officers participated in the compensation process for 2023. Our Human Resources team, under the management of the Chief Human Resources and ESG Officer, also supports the Talent & Compensation Committee in its work and implements executive compensation programs.
Role of Independent Compensation Consultant
During 2022, the Talent & Compensation Committee initially retained Semler Brossy to serve as the independent compensation consultant to provide information, analysis, and objective advice regarding our executive compensation programs. The Talent & Compensation Committee periodically meets with Semler Brossy to review our executive compensation programs and discuss compensation matters. For 2023, the Talent & Compensation Committee engaged Semler Brossy to perform the following functions:
Assist the Talent & Compensation Committee in its review and selection of the peer group;
Compare each element of the NEOs' target total direct compensation opportunity with the corresponding compensation elements for the comparator groups to assess competitiveness;
Prepare presentations for the Talent & Compensation Committee on general market trends and practices in executive compensation;
Prepare an analysis of pay and performance relative to the peer group and other comparator groups used by proxy advisory firms to support the Talent & Compensation Committee's goal of aligning our executive compensation program with shareholders' interests;
Advise the Talent & Compensation Committee on the design of executive incentive programs and arrangements;
Assist the Talent & Compensation Committee in determining the pay package and employment terms for Mr. Bozeman, our new CEO; and
Support the Talent & Compensation Committee in its review of the CD&A.
The Talent & Compensation Committee reviews its relationship with its advisors annually. The process includes a review of the quality of services provided, the fee structure for the services, and the factors impacting its advisor’s independence under the rules of the Securities and Exchange Commission and the listing standards of Nasdaq. In both February 2023 and 2024, the Talent & Compensation Committee concluded that no conflict of interest existed that would prevent its advisor from independently advising the Talent & Compensation Committee.
2024 Proxy Statement71

Executive Compensation
Peer Group and Benchmarking
The Talent & Compensation Committee considers many factors when setting compensation plans and awards, including company performance, NEOs’ responsibilities, officer performance, position tenure, experience, and survey information from independent experts.
In 2022, with assistance from its independent compensation consultant, the Talent & Compensation Committee approved the development of a compensation peer group for 2023 pay decisions. The peer group is intended to be used as one input when evaluating and determining pay levels and practices for our executives. Additionally, our independent compensation consultant utilizes third-party survey data where peer data is not available.
The Talent & Compensation Committee evaluates this peer group on an annual basis, and in 2023, with assistance from its independent compensation consultant, the Talent & Compensation Committee determined that adding the following three companies that were logistic-centric and aligned with the company’s focus on NAST would be appropriate: GXO Logistics, Inc., Schneider National, Inc., and RXO, Inc. For purposes of determining 2023 compensation, these three companies were not included as their addition took place after 2023 compensation decisions had been approved. However, they were included in determining 2024 compensation.
In determining the compensation peer group, the Talent & Compensation Committee considers companies that:
Are of reasonably similar size based on revenue and market capitalization (companies between one-fourth and four times that of C.H. Robinson’s revenue and between one-third and three times that of C.H. Robinson’s market cap).
Compete with C.H. Robinson for executive talent and/or have similar skill needs at the executive level.
Operate in the transportation, logistics, or distribution industries.
PEER GROUP
CSX Corporation
Expeditors Int’l of Washington, Inc.
Fastenal Company
FedEx Corporation
GXO Logistics, Inc.
Hub Group, Inc.
J.B. Hunt Transport Services
Knight-Swift Transportation
Landstar System, Inc.
Norfolk Southern Corporation
Old Dominion Freight Line, Inc.
Performance Food Group
Ryder System, Inc.
RXO, Inc.
Schneider National, Inc.
Uber Technologies, Inc.
United National Foods, Inc.
United Parcel Services
US Foods Holding Corp.
W.W. Grainger, Inc.
C.H. Robinson positioning relative to compensation peer group(1)
25th percentile50th percentile75th percentile
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(1)Amounts as of December 31, 2023.
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2020 EXECUTIVE COMPENSATION


Executive Compensation
Michael J. Short, PresidentAdditional Compensation Policies and Practices
Stock Ownership Guidelines
To ensure alignment with our shareholders, the Talent & Compensation Committee has established stock ownership guidelines for our executive officers. The Talent & Compensation Committee believes that linking a significant portion of Global Freight Forwardingthe executive officer’s personal holdings to the company’s success aligns our executive interests with that of our shareholders. Therefore, executive officers are expected to own a significant amount of C.H. Robinson stock. The Talent & Compensation Committee has established stock ownership guidelines for our executive officers based on all shares of company stock deemed owned by an executive officer, which includes stock held in the company 401(k) plan, vested PSUs, and RSUs. It also includes stock beneficially owned by the officer, including owned in a trust, by a spouse, or by dependent children. Equity ownership guidelines for executive officers are as follows:
àCEO: Six times base salary
àOther NEOs: Three times base salary
àOther direct reports to the CEO: Three times base salary
It is expected that new or recently promoted members of the executive team will achieve the appropriate level of ownership within five years of their appointment. All NEOs are in compliance with the company stock ownership requirements.
Clawback Policy
We revised our incentive compensation recovery policy in 2023 to reflect the final clawback policy rules adopted by the Securities and Exchange Commission and Nasdaq. Under the revised policy, in the event that the company is required to prepare an accounting restatement due to material non-compliance with any financial reporting requirement, we are required to reasonably and promptly seek recovery of any excess incentive-based compensation paid to our current and former executive officers, based on any misstated financial reporting measure, that was received during the three-year period preceding the date we are required to prepare the restatement.
Prohibition Against Pledging and Hedging
Our officers and directors are prohibited from pledging their company stock and from engaging in transactions in puts, calls, or other derivative securities or hedging their investments in company stock.
CEO Offer Letter Agreement
In connection with the hire of Mr. Short started 2020 at aBozeman as our new CEO in June 2023, the company and Mr. Bozeman entered into an employment offer letter providing for the following annual compensation for Mr. Bozeman: (i) annual base salary of $525,000 and on March 1, 2019, as part of our annual compensation review cycle, moved to a base salary of $540,000. Mr. Short's$1.0 million, (ii) target annual cash incentive compensation plan awarded compensationof 150% of base salary (with the payout prorated for Global Forwarding'sthe portion of the year during which Mr. Bozeman served as CEO), and (iii) long-term equity incentive awards valued at $6.5 million (which grants for 2023 were prorated for the portion of the year during which Mr. Bozeman served as CEO), 60% of which were issued in the form of PSUs and 40% in the form of RSUs, each with the same performance measures and vesting dates as comparable awards made to the company’s other executive officers for fiscal 2023. In addition, Mr. Bozeman received (i) a signing bonus of $5.0 million that is repayable if his employment terminates prior to the second anniversary of the commencement of his employment for any reason other than involuntary termination without cause or his resignation for good reason, a majority of which was used to repay certain relocation reimbursements to his current employer, (ii) a one-time PSU award valued at $6.5 million that vests based on achievement of APTI10% compound annual growth in adjusted diluted EPS over a three year period and (iii) a make-whole RSU award to replace equity forfeited from his current employer valued at $12.0 million that vests as to 25% of the shares on each of the six month and one year anniversaries of the date of grant, 30% of the shares on the second anniversary of the date of grant, and 20% of the shares on the third anniversary of the date of grant, in each case subject to certain accelerated or continued vesting provisions. Grant date fair values for these equity grants to Mr. Bozeman were based on the average closing price of a share of the common stock during the 30-day period ending on the trading date before Mr. Bozeman’s first day of employment.
2024 Proxy Statement73

Executive Compensation
Mr. Bozeman’s employment offer letter agreement also provides that he will participate in the Executive Separation and Change in Control Plan described below, provided that (i) he will also be eligible for the severance benefits provided under the plan in the event of an involuntary termination without cause (as defined in his offer letter agreement) and in the event that he voluntarily resigns for good reason (as defined in his offer letter agreement), (ii) in the event of a termination not involving a change in control he will be entitled to the same severance benefits provided by the change in control termination guidelines (provided that the base pay will be paid in installments instead of a lump sum and that vesting of his equity awards will be as set forth in the award agreements), and (iii) his change in control protection period will include any qualifying termination occurring three months before a change in control. His letter agreement also sets forth individually negotiated definitions of “cause” and “good reason” that apply for purposes of his severance benefits and equity awards, as set forth below. Mr. Bozeman is entitled to certain relocation benefits, housing and transportation benefits (up to a maximum of $100,000 annually), up to $100,000 of personal use of the company’s aircraft, and an annual executive physical paid for by the company.
As defined in the offer letter agreement, “cause” means (i) embezzlement or misappropriation of company funds or property; (ii) failure to comply, as determined by the company, with any applicable confidentiality, non-competition, or data security agreement or obligation; or (iii) failure to comply, as determined by the company, with his letter agreement or any applicable employee agreement or other agreement containing post-employment restrictions, and “good reason” means (i) a material diminution in authority, duties, or responsibilities; (ii) a material reduction in base salary or other material adverse change in the amount of total target compensation (other than a reduction or change applied generally to all salaried employees of the company); or (iii) a material breach by the company of the letter agreement, including without limitation the company requiring a change in work location(s) inconsistent with the letter agreement, provided that Mr. Bozeman first provides written notice to the company of the occurrence of any conditions under this good reason definition within 90 calendar days of occurrence and the condition is not fully remedied by the company within 30 calendar days after such notice.
Employment Agreements with NEOs
C.H. Robinson uses employment agreements to protect against former employees soliciting our employees, customers, and service providers. All employees sign agreements acknowledging their understanding of company policies and committing to certain confidentiality obligations. Certain employees, including all NEOs, sign an employment agreement that includes more restrictive confidentiality and non-solicitation covenants. These agreements do not commit to post-termination compensation.
Executive Separation and Change in Control Plan
The company adopted an executive separation and change in control plan (the “Severance Plan”) in July 2022. Severance Plan benefits may be payable in connection with a termination without cause which involves a layoff or position elimination, termination due to restructuring, or other circumstances determined by the Talent & Compensation Committee, or a resignation by an executive for good reason. Additional severance benefits may be provided in the case of a termination within 24 months after a change in control. The Severance Plan provides benefits in addition to the continued vesting provision listed above in the Equity Plan Acceleration and Post Employment Vesting section. Severance benefits include 24 months of continued base pay and 24 months of COBRA premiums for the CEO and 18 months of continued base pay and 18 months of COBRA premiums for executive officers. Termination in connection with change in control benefits for the CEO include 30 months of base pay, 30 months of COBRA premiums, two and a half times annual target bonus paid in a lump sum, and full vesting of equity awards. Change in control severance benefits for executive officers include 24 months of base pay, 24 months of COBRA premiums, two times annual target bonus paid in a lump sum, and full vesting of equity awards.
Equity Plan Acceleration and Post-Employment Vesting
Our equity award agreements with our NEOs for grants made in 2023 include provisions accelerating vesting in certain ranges,circumstances. RSUs are vested in full if a change in control occurs and awards are not assumed, although for awards granted prior to May 5, 2022,(1) the company's achievementBoard has discretion to fully vest RSUs even if they are assumed. RSUs will also be fully vested if they are assumed and an NEO is terminated without cause within 12 months after the change in control. In the case of APTIa change in certain ranges,control, PSU grants made in 2023 will be considered earned at the greater of the number of PSUs that would be earned as wellif the date of the change in control were the end of the performance period, or target level and convert to time-based vesting for the remainder of the original performance period. This treatment for equity awards has been adopted primarily because it is seen to effectively create incentives for our executive team to obtain the highest value possible should we be acquired in the future. It also serves as MBOs. Mr. Short’s MBOs werea powerful retention device during the uncertain times preceding a change in control transaction, and provides employees the same opportunity as shareholders to participate in the change in control event.
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Executive Compensation
(1)In the case of equity awards granted prior to May 5, 2022, if a change in control of our company occurs, the Talent & Compensation Committee may take such actions with respect to outstanding equity awards as it deems appropriate under the circumstances, which may include (i) providing for the continuation, assumption, or replacement of outstanding awards by the surviving or successor entity; (ii) providing that outstanding awards will terminate upon or immediately prior to the consummation of such change in control; (iii) providing that outstanding awards will vest and become exercisable or payable, in whole or in part, prior to or upon consummation of such change in control, or upon termination of an NEO’s employment; or (iv) providing for the cancellation of any outstanding award in exchange for a payment equal to the intrinsic value of the award at the time of the change in control.
The Talent & Compensation Committee may specify the action to be taken in an award agreement or take the action prior to or coincident with the change in control and is not required to treat all awards or all NEOs similarly.
All types of awards will become fully vested if employment ends due to death or disability. Post-employment vesting for reasons other than death, disability, and change in control is tied to achievementnon-compete agreements and provides protections to the company and our relationships with our employees, customers, and service providers. PSUs will vest on a prorated basis depending on the service provided during the performance period (except that if service is terminated in the first year, no more than two-thirds of global market share growththe award may vest), if the NEO complies with the non-compete agreement and initiativescertain other agreements in favor of the company, for up to drive standardizationtwo years of business processes. continued post-employment vesting.
Mr. Short's annual cash incentive compensation of $464,090 for 2020 paid on February 26, 2021. In February 2020 as part of our annual grant cycle, Mr. Short received 7,240 performance based restricted shares and 31,820 time based stock options. Both of theseBozeman’s special sign-on equity awards began vestingprovide for similar change in 2020.

Michael J. Short 2020 Annual Cash Incentive Compensation Plan
Annual Base Salary
Target
Incentive as %
of Base Salary
Maximum
Incentive as
% of Base
Salary
% Tied to Enterprise APTI% Tied to Division APTI% Tied to MBO
$540,00070 %140 %30 %40 %30 %

Target Enterprise APTI Growth %Actual Enterprise APTI Growth %Target Division APTI Growth %Actual Division APTI Growth %MBO Achievement %
%-15 %10 %111 %110 %

Total 2020 Realized Annual Compensation: The following table below illustrates Mr. Short’s total realized compensation in 2020control and termination of $1,448,871, an increase of 30 percent from 2019. Foremployment treatment, except that the period from May 1, 2020 through July 31, 2020, Mr. Short's base salary payments were reduced by 20%, which was enacted as part of our cost savings initiatives relatedawards will continue to the COVID-19 pandemic. Our business results in 2020 led to a decline in enterprise APTI, resulting in low annual cash incentive compensation as well as no performance vesting for our performance based restricted shares, however Global Forwarding had a significant increase in APTI resulting in this portion of Mr. Short's annual cash incentive compensation having a higher payout.
Base Salary PaidCash Incentive CompensationTotal Cash
% of
Target
Incentive
Achieved(1)
Equity Earned(2)
Total Realized
Compensation
2020$505,950 $464,090 $970,040 123 %$478,831 $1,448,871 
2019520,833 192,398 713,231 52 %399,344 1,112,575 
2018500,000 316,464 816,464 90 %1,003,326 1,819,790 


(1)See the disclosures made under the heading Non-Equity Incentive Plan Compensation, beginning on page 22, pertaining to the impact of company APTIvest only in the calculationcase of the NEO's percentage of target incentive payout achieved.
(2)See the disclosures made under the headings Performance Based Restricted Shares and Stock Options on page 24 pertaining a termination without cause or due to the actual vesting percentages earned.

good reason.
Section 162(m) Disclosure
Section 162(m) of the Internal Revenue Code precludes us from taking a federal income tax deduction for compensation paid in excess of $1 million to our “covered employees”. Our covered employees include all employees who have been a covered employee in any year since 2017. As of 2018, a covered employee includes any employee who has been the chief executive officer, the chief financial officer, or one of our three other most highly compensated executive officers in a year. Prior to 2018, this deduction limitation did not apply to qualified “performance-based” compensation and a company’s chief financial officer was not considered to be a covered employee. Consequently, compensation paid in 2018 and later years to covered employees in excess of $1 million will not be deductible unless it qualifies for transitional relief
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2021 Proxy Statement

2020 EXECUTIVE COMPENSATION


applicable to certain binding, written performance-based compensation arrangements that were in place as of November 2, 2017.
Despite these newthe limits on the deductibility of performance-based compensation, the Talent & Compensation Committee continues to believe that a significant portion of our executives’ compensation should be tied to the company’s performance and that shareholder interests are best served if its discretion and flexibility in structuring and awarding compensation is not restricted even though some compensation awards may have resulted in the past, and are expected to result in the future, in non-deductible compensation expense to us. Therefore, it is not anticipated that the changes to Section 162(m) will significantly impact the design of our compensation program going forward.

Talent & Compensation Committee Report
SummaryThe Talent & Compensation Table
Name of Executive Officer and Principal PositionYearSalaryBonus
Stock
Awards(1)
Option
Awards(2)
Non-Equity
Incentive Plan
Compensation(3)
All Other
Compensation(4)
Total
Robert C. Biesterfeld Jr2020$878,750 $— $2,053,817 $2,021,132 $467,577 $11,394 $5,432,670 
President and Chief Executive Officer2019870,833 (5)— 1,879,415 (5)1,869,985 (5)428,895 (5)16,800 5,065,928 
2018600,000 (6)— 1,110,877 (6)1,081,727 (6)849,620 (6)11,000 3,653,224 
Michael P. Zechmeister2020666,839 — 698,550 687,200 290,084 24,325 2,366,998 
Chief Financial Officer2019235,985 (7)200,000 (8)1,681,567 (7)(9)726,328 (7)83,945 (7)57,637 2,985,462 
Christopher J. O'Brien2020482,412 — 454,722 420,788 184,811 15,633 1,558,366 
Chief Commercial Officer2019500,000 — — (10)— (10)126,975 16,800 643,775 
2018500,000 — 447,805 439,333 499,201 11,000 1,897,339 
Mac S. Pinkerton2020544,250 — 555,719 514,213 196,681 17,100 1,827,964 
President of North America2019475,000 — 50,250 (11)50,027 (11)212,943 

16,800 805,020 
Surface Transportation
Michael J. Short2020505,950 — 429,622 397,432 464,090 17,100 1,814,194 
President of Global Freight Forwarding2019520,833 — — (10)— (10)192,398 16,800 730,031 
2018500,000 — 423,217 414,914 316,464 11,000 1,665,595 


(1)The 2018, 2019,Committee has reviewed and 2020 performance based restricted share grants are available to vest over a five-year period based ondiscussed the financial performanceCompensation Discussion and Analysis section with C.H. Robinson management and concurs that it accurately represents the compensation philosophy of the company. The actual vesting percentage for each year is determined byBased on its review and discussion with management, the following formula: year-over-year growth rate in diluted earnings per share, plus ten percentage points. Any shares unvested after five years are forfeited backTalent & Compensation Committee recommended to the company.Board of Directors that the Compensation Discussion and Analysis section be included in this Proxy Statement. The actual vesting percentage was 43 percentTalent & Compensation Committee Charter is posted under the Governance section of the Investors page of our website at investor.chrobinson.com.
Mary J. Steele Guilfoile, Chair
Kermit R. Crawford
Timothy C. Gokey
Jodee A. Kozlak
Henry W. “Jay” Winship
The Members of the Talent & Compensation Committee of the Board of Directors
2024 Proxy Statement75

Executive Compensation
Executive Compensation Tables
Summary Compensation Table
Name of
Executive
Officer and
Principal
Position
Year
Salary
($)
Bonus
($)
Stock
Awards
($)(1)
Non-Equity
Incentive Plan
Compensation
($)(2)
All Other
Compensation
($)(3)
Total
($)
David P. Bozeman
President and Chief Executive Officer
2023500,000 (4)5,000,000 (5)21,512,222 13,741 940,690 27,966,653 
Michael P. Zechmeister
Chief Financial Officer
2023740,000 — 2,720,422 233,772 24,161 3,718,355 
2022737,115 — 1,544,010 993,134 18,300 3,292,559 
2021722,404 — 1,521,488 1,106,169 17,400 3,367,461 
Arun D. Rajan
Chief Operating Officer
2023908,654 — 7,229,857 335,653 23,772 8,497,936 
2022832,308 — 2,265,705 1,334,684 

49,308 4,482,005 
2021261,539 (6)— 4,129,752 

462,027 

52,773 4,906,090 
Angela K. Freeman
Chief Human Resources and ESG Officer
2023575,000 — 4,369,441 136,876 23,720 5,105,037 
Michael J. Short
President of
Global Forwarding
2023625,000 — 3,978,490 165,954 22,752 4,792,196 
2022610,577 — 1,368,268 

847,235 


18,300 2,844,380 
2021548,269 — 1,040,865 


796,400 


17,400 2,402,934 
Scott P. Anderson
Former Interim President and Chief Executive Officer
2023528,846(7)— 1,988,623264,222 14,839 2,796,530 
(1)Amounts shown in 2018, 0 percentthis column represent RSU and PSU awards made in 2019,2021, 2022, and 0 percent2023 set forth below and described in 2020. the CD&A above:
Stock AwardsMr. Bozeman($)Mr. Zechmeister($)Mr. Rajan($)Ms. Freeman($)Mr. Short($)Mr. Anderson($)
Annual RSUs1,324,530 865,079 1,730,157 627,115 865,079 — 
Annual PSUs with respect to 2023 grants(a)
1,986,749 892,935 1,783,104 646,893 892,935 — 
Annual PSUs with respect to 2021 and 2022 grants(b)
— 165,962 232,587 110,304 130,577 — 
Retention RSUs— 796,446 3,484,009 2,985,129 2,089,899 — 
CEO Make-Whole RSU11,806,030 — — — — — 
CEO One-Time PSU(c)
6,394,913 — — — — — 
Interim CEO Service RSU— — — — — 1,988,623 
Total21,512,222 2,720,422 7,229,857 4,369,441 3,978,490 1,988,623 
Assumptions used in the calculation of the amounts reported in this tablecolumn are included in Note 6 to the financial statements included in our Annual Report on Form 10-K for the fiscal year ended December 31, 2020.2023. The values of annual PSU awards are reported assuming they are earned at target; however; if they were assumed to vest at maximum, the grant date fair value would have been:
(2)The 2018, 2019,(a)For the PSUs granted in 2023: Mr. Bozeman - $3,973,498, Mr. Zechmeister - $1,785,870, Mr. Rajan - $3,566,208, Ms. Freeman - $1,293,786 and 2020 stock option grants vest pro-rata overMr. Short - $1,785,870.
(b)For the five calendar years beginningPSUs granted in 2021 and 2022 for which performance metrics were set in 2023: Mr. Zechmeister - $331,924, Mr. Rajan - $465,174, Ms. Freeman - $220,608 and Mr. Short - $261,154.
(c) For Mr. Bozeman’s one-time PSU, the yeargrant date fair value is reported at the target number of grant. Assumptions usedshares and there is no opportunity to earn in the calculationexcess of the amounts reported in this table are included in Note 6 to the financial statements included in our Annual Report on Form 10-K for the fiscal year ended December 31, 2020.that number.
(3)The dollar amount
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Executive Compensation
(2)Amounts shown in this column represents the amount the NEOrepresent amounts earned under our annual incentive program during theeach respective year under their non-equity annual incentive plan; these amounts correspond to and are referred as "annual cash incentive compensation"paid early in the Performance Evaluation and Compensation subsection of Section VII beginning on page 28. These figures include payouts for MBOs related to strategic goals for the company transformation.following year.
(4)(3)All other compensation for our NEOs is summarized in the Supplemental All Other Compensation table.
(4)Mr. Bozeman’s salary reported for 2023 is for a partial year; Mr. Bozeman was appointed President and CEO of the company effective June 26, 2023.
(5)These figures include compensation adjustmentsMr. Bozeman received an additional cash bonus, primarily to address certain transition matters, such as Mr. Bozeman’s requirement to repay certain amounts to his previous employer. This cash bonus is repayable if employment is terminated prior to the second anniversary for any reason other than involuntary termination without cause or his resignation for good reason.
(6)Mr. Rajan’s salary reported for 2021 is for a result ofpartial year; Mr. Biesterfeld's appointment to presidentRajan joined the company as Chief Product Officer on September 1, 2021.
(7)Mr. Anderson served as Interim Chief Executive Officer between January 1, 2023 and chief executive officer effective May 9, 2019.
(6)These figures include compensation adjustments as a result of Mr. Biesterfeld's appointment to chief operating officer effective March 1, 2018.
(7)This figure includes proratedJune 25, 2023 and did not receive any compensation as a resultdirector during this period. Effective June 26, 2023, Mr. Anderson remained a board member and was appointed as a member of Mr. Zechmeister's hirethe Governance Committee effective July 1, 2023. His compensation as chief financial officer on August 30, 2019.
(8)This figure includes a cash sign-on bonus paid to Mr. Zechmeister.
(9)This figure includes 12,190 restricted stock units with a grant value of $1,000,190, which vest pro-rata over three years.
(10)Due to changesdirector is set forth in the timing of the annual equity grant cycle, the annual performance based restricted share and time based stock option grants that would have historically been granted in December 2019 were moved to February 2020.2023 Director Compensation table.
(11)These figures include performance based restricted share and time based stock option grants made to Mr. Pinkerton as a result of his appointment to president of NAST effective January 1, 2019.
2021 Proxy Statement
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2020 EXECUTIVE COMPENSATION


Supplemental All Other Compensation Table
Name of Executive OfficerName of Executive OfficerYearPerks and Personal BenefitsTax Reim-bursements
Registrant Contributions to Defined Contributions(1)
OtherTotalName of Executive OfficerYear
Perks and
Personal Benefits
($)
Tax
Reimbursements
($)
Registrant
Contributions to
Defined Contributions
($)(1)
Other
($)(2)
Total
($)
Robert C. Biesterfeld Jr2020$— $— $11,394 $— $11,394 
David P. Bozeman
Michael P. ZechmeisterMichael P. Zechmeister202012,925 (2)— 11,400 — 24,325 
Christopher J. O'Brien2020— — 15,633 — 15,633 
Mac S. Pinkerton2020— — 17,100 — 17,100 
Arun D. Rajan
Angela K. Freeman
Michael J. ShortMichael J. Short2020— — 17,100 — 17,100 
Scott P. Anderson


(1)Represents matching contributions under the company’s qualified 401(k) plan.
(2)Represents life insurance premiums, expense reimbursement, and miscellaneous other compensation items.
(3)Represents the value of relocation expenses reimbursed by the company.

Dividend Equivalents Paid(4)Represents reimbursement of taxes paid by Mr. Bozeman on Unvested Shares
Name of Executive OfficerYear
Dividend Equivalents(1)
Robert C. Biesterfeld Jr2020$129,576 (2)
201987,638 (2)
201852,634 (2)
Michael P. Zechmeister202052,513 (3)
201922,776 (3)
Christopher J. O'Brien202035,241 (2)
201932,237 (2)
201847,043 (2)
Mac S. Pinkerton202028,134 (2)
201918,841 (2)
Michael J. Short202034,442 (4)
201934,564 (4)
201846,701 (4)

(1)Dividends paid on these shares were paid directly to the NEO through the company's payroll system.
(2)Represents performance based restricted shares.
(3)Represents both performance based restricted shares and time based restricted stock units.
(4)Represents both performance based restricted shares and time based restricted shares.

relocation expense reimbursement.
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20212024 Proxy Statement77

2020 EXECUTIVE COMPENSATION


Executive Compensation
Grants of Plan-Based Awards in 20202023
Name of Executive OfficerGrant Date
Estimated Future Payouts Under Non-Equity Incentive Plan Awards(1)
Estimated Future Payouts Under Equity Incentive Plan AwardsAll Other
Option
Awards:
Number of
Securities
Underlying
Options
Exercise or Base Price of Option
Awards ($/Sh)
Grant Date Fair Value of Stock and Option Awards(2)
ThresholdTargetMaximumThresholdTargetMaximum
Robert C. Biesterfeld Jr.2/5/2020$— $— $— — — 34,611 (3)— $— $2,053,817 
2/5/2020— — — — — — 161,820 (4)72.74 2,021,132 
1,435,000 2,870,000 — — — — — — 
Michael P. Zechmeister2/5/2020— — — — — 11,772 (3)— — 698,550 
2/5/2020— — — — — — 55,020 (4)72.74 687,200 
603,500 1,207,000 — — — — — — 
Christopher J. O’Brien2/5/2020— — — — — 7,663 (3)— — 454,722 
2/5/2020— — — — — — 33,690 (4)72.74 420,788 
334,750 669,500 — — — — — — 
Mac S. Pinkerton2/5/2020— — — — — 9,365 (3)— — 555,719 
2/5/2020— — — — — — 41,170 (4)72.74 514,213 
480,000 960,000 — — — — — — 
Michael J. Short2/5/2020— — — — — 7,240 (3)— — 429,622 
2/5/2020— — — — — — 31,820 (4)72.74 397,432 
378,000 756,000 — — — — — — 
Name of Executive Officer

Grant
Date
Estimated Future Payouts Under
Non-Equity Incentive Plan Awards
Estimated Future Payouts Under Equity Incentive Plan
Awards
All Other
Stock
Awards:
Number
of Shares
of Stock
or Units
Grant
Date Fair
Value of
Stock
Awards
($)(1)
Threshold
($)
Target
($)
Maximum
($)
ThresholdTargetMaximum
David P. Bozeman6/26/2023— — — — 69,442 — (3)— 6,394,914 
6/26/2023— — — 1,798 7,192 14,384 (4)— 662,311 
6/26/2023— — — 1,798 7,191 14,382 (5)— 662,219 
6/26/2023— — — 1,798 7,191 14,382 (6)— 662,219 
6/26/2023— — — — — — 128,201 (7)11,806,030 
6/26/2023— — — — — — 14,383 (8)1,324,530 
— 776,712 (2)1,553,424 (2)— — — — — 
Michael P. Zechmeister2/8/2023— — — 229 914 1,828 (9)— 84,225 
2/8/2023— — — 222 887 1,774 (10)— 81,737 
2/8/2023— — — 808 3,230 6,460 (4)— 297,645 
2/8/2023— — — 808 3,230 6,460 (5)— 297,645 
2/8/2023— — — 808 3,230 6,460 (6)— 297,645 
2/8/2023— — — — — — 7,740 (11)796,446 
2/8/2023— — — — — — 9,670 (8)865,079 
— 740,000 1,480,000 — — — — — 
Arun D. Rajan2/8/2023— — — 304 1,217 2,434 (9)— 112,147 
2/8/2023— — — 327 1,307 2,614 (10)— 120,440 
2/8/2023— — — 1,613 6,450 12,900 (4)— 594,368 
2/8/2023— — — 1,613 6,450 12,900 (5)— 594,368 
2/8/2023— — — 1,613 6,450 12,900 (6)— 594,368 
1/1/2023— — — — — — 38,227 (11)3,484,009 
2/8/2023— — — — — — 19,340 (8)1,730,156 
— 1,092,000 2,184,000 — — — — — 
Angela K. Freeman2/8/2023— — — 148 590 1,180 (9)— 54,369 
2/8/2023— — — 152 607 1,214 (10)— 55,935 
2/8/2023— — — 585 2,340 4,680 (4)— 215,631 
2/8/2023— — — 585 2,340 4,680 (5)— 215,631 
2/8/2023— — — 585 2,340 4,680 (6)— 215,631 
2/8/2023— — — — — — 29,010 (11)2,985,129 
2/8/2023— — — — — — 7,010 (8)627,115 
— 431,250 862,500 — — — — — 
Michael J. Short2/8/2023— — — 156 624 1,248 (9)— 57,502 
2/8/2023— — — 198 793 1,586 (10)— 73,075 
2/8/2023— — — 808 3,230 6,460 (4)— 297,645 
2/8/2023— — — 808 3,230 6,460 (5)— 297,645 
2/8/2023— — — 808 3,230 6,460 (6)— 297,645 
2/8/2023— — — — — — 20,310 (11)2,089,899 
2/8/2023— — — — — — 9,670 (8)865,079 
— 531,250 1,062,500 — — — — — 
Scott P. Anderson1/1/2023— — — — — — 27,305 (12)1,988,623 
— 822,137 (1)1,644,274 (1)— — — — 

(1)Under the terms of the award and as further explained in the Non-Equity Incentive Plan Compensation subsection of Section IV Elements of Executive Compensation, beginning on page 22, the amount earned by each NEO will be based upon on the company’s or the appropriate business division's APTI, along with MBO achievement for 2020 and was paid to the executive in early 2021.
(2)The amounts in this column represent the grant date fair value for the respective awards.awards at target. The performancevested performance-based RSUs and time based restricted shares, vested and unvested,RSUs earn dividends at the same rate as Common Stock.common stock. Because these dividends are considered compensation under the Internal Revenue Code, the dividends are paid to each NEO through the company’s payroll system.
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Executive Compensation
(2)Under the terms of the award and as further explained in the Annual Cash Incentive Compensation section of 2023 Named Executive Officer Compensation, beginning on page 63, the amount earned by each NEO was based on the enterprise blended volume growth and adjusted operating income margin %, along with MBO/SBO achievement for 2023 and was paid to the NEO in early 2024. The values noted in the table represent the pro-rated opportunity for the period of time of employment during the year.
(3)Represents the number of PSUs granted to Mr. Bozeman upon his appointment as our President and Chief Executive Officer. These PSUs vest as to one-third of the total shares based on achievement of 10% compound annual growth in adjusted diluted EPS in each year from 2024 to 2026, with the opportunity to earn any PSUs not vested in any year in a subsequent year during the performance based restricted sharesperiod.
(4)Represents the number of PSUs granted during the reported year to the NEO. These performance based restricted sharesPSUs are available to vest over fivethree calendar years beginning in 2020. The actual vesting percentage for each year is the year-over-year growth rate in diluted earnings per share, plus ten percentage points. Because the shares vest2023, based on a formula of growth rates, the awards do not have a specific payout based on a target or a threshold.company’s average annual adjusted operating margin percentage growth. Any shares unvested after the vesting period are forfeited back to the company. The standard deliverysettlement of all vested sharesPSUs occurs the earlier of one year following the end of the three-year vesting period or two years after termination of employment or twowith the exception of Mr. Bozeman’s PSUs. Mr. Bozeman’s PSUs will settle within 60 days after the vesting date.
(5)Represents the number of PSUs granted during the reported year to the NEO. These PSUs are available to vest over three calendar years beginning in 2023, based on the company’s cumulative AGP growth. Any shares unvested after the vesting period are forfeited back to the company. The standard settlement of all vested PSUs occurs the earlier of one year following the end of the five-yearthree-year vesting period.period or two years after termination of employment with the exception of Mr. Bozeman’s PSUs. Mr. Bozeman’s PSUs will settle within 60 days after the vesting date.
(4)(6)Represents the number of PSUs granted during the reported year to the NEO. These PSUs are available to vest over three calendar years beginning in 2023, based on the company’s cumulative diluted EPS growth. Any shares unvested after the vesting period are forfeited back to the company. The standard settlement of all vested PSUs occurs the earlier of one year following the end of the three-year vesting period or two years after termination of employment with the exception of Mr. Bozeman’s PSUs. Mr. Bozeman’s PSUs will settle within 60 days after the vesting date.
(7)Represents the number of RSUs granted to Mr. Bozeman upon his appointment as our President and Chief Executive Officer. These RSUs replace equity forfeited by Mr. Bozeman from his former employer. The RSUs vest as to 25% of the shares on each of the six month and one year anniversaries of the date of grant, 30% of the RSUs vest on the second anniversary of the date of grant, and 20% of the RSUs vest on the third anniversary of the date of grant, in each case subject to certain accelerated or continued vesting provisions. The number of units subject to the equity award was determined by dividing the value of the grant by the average closing price of a share of the company’s common stock during the 30-day period ending on the trading date before June 26, 2023 and rounding down to the nearest whole number.
(8)Represents the number of time based RSUs granted during the reported year to the NEO. These RSUs vest ratably over three calendar years beginning in 2023. The standard settlement of all vested RSUs granted in 2023 or earlier occurs the earlier of one year following the end of the three-year vesting period or two years after termination of employment.
(9)Represents one-third of the total number of PSUs granted during the reported year to the NEO. Due to separate one-year performance periods with annual performance targets set at the start of each performance period, each one-third of the grant is reported as granted when such performance target is set. The grant of the first two-thirds of the award was disclosed when reporting 2021 and 2022 compensation. The grant date fair value is determined when the annual performance targets are set during the following February. These PSUs are available to vest over three calendar years beginning in 2021, based on the company’s annual AGP growth. Any PSUs unvested after the performance period are forfeited back to the company. The standard settlement of all vested PSUs occurs the earlier of one year following the end of the three-year vesting period or two years after termination of employment.
(10)Represents one-third of the total number of PSUs granted during the reported year to the NEO. The first one-third was disclosed when reporting 2022 compensation. The remaining one-third will be disclosed when reporting 2024 compensation. The grant date fair value is determined when the annual performance targets are set during the following February. These PSUs are available to vest over three calendar years beginning in 2022, based on the company’s annual AGP growth. Any shares unvested after the performance period are forfeited back to the company. The standard settlement of all vested PSUs occurs the earlier of one year following the end of the three-year vesting period or two years after termination of employment.
(11)Represents the number of RSUs granted to the NEO during the period of transition following the departure of its former President and Chief Executive Officer. The RSUs granted to Mr. Zechmeister vest as to 100% of the shares on the first anniversary of the grant date. The RSUs granted to Mr. Rajan, Ms. Freeman, and Mr. Short vest as to 50% on the 18 month anniversary of the date of grant and the remaining 50% on the three-year anniversary of the date of grant.
(12)Represents the number of RSUs granted to Mr. Anderson upon his appointment as our Interim Chief Executive Officer. The RSUs vested as to 100% of the shares on the one year anniversary of the grant date contingent upon Mr. Anderson remaining either the Interim Chief Executive Officer or a director of the company.
2024 Proxy Statement79

Executive Compensation
Outstanding Equity Awards at Fiscal Year-End 2023
Option AwardsStock Awards
Name of
Executive
Officer
Equity
Incentive
Plan Awards:
Number of
Securities
Underlying
Unexercised
Options
Exercisable
Equity
Incentive
Plan Awards:
Number of
Securities
Underlying
Unexercised
Options
Unexercisable
Option
Exercise
Price
Option
Expiration
Date
Number of
Shares or
Units of Stock
That Have
Not Vested
Market Value
of Shares or
Units of Stock
That Have
Not Vested
($)
Equity
Incentive
Plan Awards:
Number
of Shares
or Units of
Stock That
Have Not
Vested
Equity
Incentive
Plan Awards:
Market Value
of Shares or
Units of Stock
That Have
Not Vested
($)
David P. Bozeman128,201 (1)11,075,284 
69,442 (2)5,999,094 
31,163 (3)2,692,172 
Michael P.
Zechmeister
41,960 (4)(4)82.05 9/3/20297,980 (6)689,392 
44,016 (4)11,004 (4)72.74 2/5/2030886 (7)76,542 
3,544 (8)306,166 
6,447 (9)556,956 
3,230 (10)279,040 
3,230 (10)279,040 
3,230 (10)279,040 
7,740 (5)668,659 
Arun D. Rajan38,227 (11)3,302,431 11,750 (6)1,015,083 
1,306 (7)112,825 
5,224 (8)451,301 
12,893 (9)1,113,826 
6,450 (10)557,216 
6,450 (10)557,216 
6,450 (10)557,216 
Angela K.
Freeman
10,572 (12)(12)87.15 12/6/20275,460 (6)471,689 
20,220 (12)(12)88.87 12/5/2028606 (7)52,352 
12,728 (13)6,364 (13)72.74 2/5/20302,426 (8)209,582 
4,673 (9)403,700 
2,340 (10)202,153 
2,340 (10)202,153 
2,340 (10)202,153 
29,010 (14)2,506,174 
Michael J.
Short
4,044 (12)(12)88.87 12/5/20287,140 (6)616,825 
6,364 (13)6,364 (13)72.74 2/5/2030794 (7)68,594 
3,174 (8)274,202 
6,447 (9)556,956 
3,230 (10)279,040 
3,230 (10)279,040 
3,230 (10)279,040 
20,310 (14)1,754,581 
Scott P. Anderson27,305 (15)2,358,879 
(1)Upon Mr. Bozeman’s appointment to Chief Executive Officer in June 2023, C.H. Robinson awarded him a make-whole RSU award to replace equity forfeited from his previous employer valued at $12 million. The stock award vests as to 25% of the shares on each of the six month and one year anniversaries of the date of grant, 30% of the shares on the second anniversary of the date of grant, and 20% of the shares on the third anniversary of the date of grant, in each case subject to certain accelerated or continued vesting provisions. The number of units subject to the equity award was determined by dividing the value of the grant by the average closing price of a share of the company’s common stock during the 30-day period ending on the trading date before June 26, 2023 and rounding down to the nearest whole number.
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Executive Compensation
(2)Upon Mr. Bozeman’s appointment to Chief Executive Officer in June 2023, C.H. Robinson awarded him a one-time PSU award valued at $6.5 million that vests based on achievement of 10% compound annual growth in adjusted diluted EPS over a three-year period. The number of units subject to the equity award was determined by dividing the value of the grant by the average closing price of a share of the company’s common stock during the 30-day period ending on the trading date before June 26, 2023 and rounding down to the nearest whole number.
(3)Upon Mr. Bozeman’s appointment to Chief Executive Officer in June 2023, his annual compensation included long-term equity incentive awards valued at $6.5 million (which for 2023 was prorated for the portion of the year during which Mr. Bozeman served as CEO), 60% of which were issued in the form of PSUs and 40% in the form of RSUs, each with the same performance measures and vesting dates as comparable awards made to the company’s other executive officers for fiscal 2023 as part of the equity incentive plan. The awards are based on the company’s cumulative three-year diluted EPS growth, cumulative three-year annual AGP growth, and three-year average annual adjusted operating margin. Refer to the documentation below on the 2023 performance-based RSUs given to executive officers in conjunction with the equity incentive plan.
(4)Represents the number of time-based stock options granted during the reported year to the NEO. These stock options vest ratably over five calendar years beginning in 2020.the year of grant. Once vested, the participant may exercise the optionsthey are exercisable for a period of ten10 years from the date of grant date. Any options unvested after five years are forfeited back tounder the company.option award agreement.

(5)Mr. Zechmeister was awarded a special time-based RSU award on February 8, 2023. This award vested and settled on February 8, 2024. The fair value was established based on the market price of our common stock on the date of grant.
2021 Proxy Statement
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35

2020 EXECUTIVE COMPENSATION


Outstanding Equity Awards at Fiscal Year-End 2020
Option AwardsStock Awards
Name of Executive OfficerEquity Incentive
Plan Awards:
Number of
Securities
Underlying
Unexercised
Options
Exercisable
Equity Incentive
Plan Awards:
Number of
Securities
Underlying
Unexercised
Options
Unexercisable
Option Exercise PriceOption Expiration DateNumber of Shares or Units of Stock That Have Not VestedMarket Value of Shares or Units of Stock That Have Not Vested
Equity Incentive
Plan Awards:
Number of
Shares or
Units of
Stock That
Have Not
Vested(1)
Equity Incentive
Plan Awards:
Market Value of
Shares or
Units of
Stock That
Have Not
Vested(1)
Robert C. Biesterfeld Jr.11,644 (2)(2)$58.25 12/4/202381,889 $7,686,920 
9,748 (2)(2)74.57 12/3/2024
30,150 (3)(3)63.58 12/2/2025
22,488 (3)5,622 (3)76.72 12/7/2026
19,032 (3)12,688 (3)87.15 12/6/2027
12,384 (4)8,256 (4)89.70 3/1/2028
15,188 (3)22,782 (3)88.87 12/5/2028
42,548 (4)63,822 (4)82.68 5/9/2029
32,364 (4)129,456 (4)72.74 2/5/2030
Michael P. Zechmeister16,784 (4)25,176 (4)82.05 9/3/20298,127 (5)762,881 22,132 2,077,531 
11,004 (4)44,016 (4)72.74 2/5/2030
Christopher J. O’Brien7,676 (2)(2)58.25 12/4/202320,232 1,899,178 
22,819 (2)(2)74.57 12/3/2024
30,150 (3)(3)63.58 12/2/2025
21,240 (3)5,310 (3)76.72 12/7/2026
17,976 (3)11,984 (3)87.15 12/6/2027
8,564 (3)12,846 (3)88.87 12/5/2028
6,738 (4)26,952 (4)72.74 2/5/2030
Mac S. Pinkerton8,368 (2)(2)68.81 12/7/202116,973 1,593,256 
6,853 (2)(2)61.91 12/5/2022
17,965 (2)(2)58.25 12/4/2023
11,576 (2)(2)74.57 12/3/2024
15,606 (3)(3)63.58 12/2/2025
10,348 (3)2,586 (3)76.72 12/7/2026
8,966 (3)5,978 (3)87.15 12/6/2027
5,128 (3)7,693 (3)88.87 12/5/2028
1,084 (4)1,626 (4)79.92 1/3/2029
8,234 (4)32,936 (4)72.74 2/5/2030
Michael J. Short6,030 (3)(3)63.58 12/2/202519,089 1,791,884 
9,996 (3)4,998 (3)76.72 12/7/2026
16,914 (3)11,276 (3)87.15 12/6/2027
8,088 (3)12,132 (3)88.87 12/5/2028
6,364 (4)25,456 (4)72.74 2/5/2030


(1)(6)The 2015-2018 performance based restricted share grants2022 performance-based RSUs are available to vest over a five year periodthree calendar years beginning in 2022, based on the financial performance of the company. The vesting formula for the 2015-2018 awards are based on the year-over-year percentage growth incompany’s cumulative three-year diluted earnings per share, plus ten percentage points.EPS growth. Any performance based restricted shares unvested after five yearsthe performance period are forfeited back to the company. The standard deliverysettlement of all vested PSUs occurs the earlier of one year following the end of the three-year vesting period or two years after termination of employment.
(7)The 2022 performance-based RSUs are available to vest over three calendar years beginning in 2022, based on the company’s annual AGP growth. Any shares unvested after the performance period are forfeited back to the company. The actual vesting percentage on the annual adjusted gross profit PSU was 200% in 2021 and 2022. The standard settlement of all vested PSUs occurs the earlier of one year following the end of the three-year vesting period or two years after termination of employment.
(8)The 2022 time-based RSUs vest ratably over three calendar years beginning in 2022. The standard settlement of all vested RSUs occurs the earlier of one year following the end of the three-year vesting period or two years after termination of employment.
(9)The 2023 RSUs vest ratably over three calendar years beginning in 2023. Shares of the company’s common stock will be delivered upon the earlier of one year after termination of employment or February 15, 2027, or the next available trading day if this date falls on the weekend or holiday.
(10)The 2023 performance-based RSUs are available to vest over three calendar years beginning in 2023, based on the company’s cumulative three-year diluted EPS growth, cumulative three-year AGP growth, and three-year average annual adjusted operating margin. Any shares unvested after the performance period are forfeited back to the company. The standard settlement of all vested PSUs occurs upon the earlier of two years after termination of employment or two years followingFebruary 15, 2027, or the endnext available trading day if this date falls on the weekend or holiday.
(11)Mr. Rajan was awarded a special time-based RSU award on January 1, 2023. This award vests with 50% of the five-year vesting period.
(2)shares on July 1, 2024, and the remaining 50% will vest on January 1, 2026, with no delayed settlement, contingent on Mr. Rajan’s continued service. The 2011-2014 performance based stock option grants were available to vest over a five year periodfair value was established based on the financial performancemarket price of the company. The actual vesting percentage for the 2011 and 2012 award is determined by the following formula: year-over-year growth rates in income from operations and diluted net income per share are averaged, and then five percentage points are added to that number. The vesting formula for the 2013-2014 awards is basedour common stock on the year-over-year percentage growth in diluted earnings per share, plus ten percentage points. Any performance based stock options unvested after five years were forfeited back to the company. Once the options vested, they are exercisable for a period of ten years from the date of grant under the option award agreement.grant.
(3)(12)Represents the number of time basedtime-based stock options granted during the reported year to the NEO. These stock options are available to vest ratably over five calendar years beginning in the calendar year after the year of grant. Once vested, the participant may exercise the optionsthey are exercisable for tena period of 10 years from the date of grant date.under the option award agreement.
(4)(13)Represents the number of time basedtime-based stock options granted during the reported year to the NEO. These stock options are available to vest ratably over five calendar years beginning in the year of grant. Once vested, the participant may exercise the optionsthey are exercisable for tena period of 10 years from the date of grant date.under the option award agreement.
(5)Upon(14)Ms. Freeman and Mr. Zechmeister's hire as chief financial officer in August 2019, C.H. RobinsonShort were awarded him a special one-time based restricted stock unit award.time-based RSU award on February 8, 2023. This one-time award vests ratablyover a three year period at 18-month increments beginning on the anniversaryAugust 8, 2024, when 50% of the grant date over three years, contingentaward will vest and ends on Mr. Zechmeister's continued service and was intended to serve as a replacement of equity awards Mr. Zechmeister forfeited from his previous employer. If Mr. Zechmeister separates from service other than due to death, disability, or change in control prior to September 3, 2022,February 8, 2026, when the unvested restricted stock units will be forfeited back to the company. One-thirdremaining 50% of the vested restricted stock unitsaward will be delivered annually to Mr. Zechmeister on September 3 in the years 2020-2022.vest. Settlement will occur at each vesting date. The fair value iswas established based on the market price of our common stock on the date of grant.
(15)Upon Mr. Anderson’s appointment to Interim Chief Executive Officer in January 2023, C.H. Robinson awarded him a special time-based RSU award. This award fully vested on January 1, 2024, with settlement within 30 days after Mr. Anderson ceases service with the company in all capacities as a service provider. The fair value was established based on the market price of our common stock on the date of grant.
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20212024 Proxy Statement81

2020 EXECUTIVE COMPENSATION


Executive Compensation
Option Exercises and Stock Vested During 20202023
Option AwardsOption AwardsStock Awards
Name of Executive OfficerName of Executive Officer
No. of Shares
Acquired on
Exercise or Vesting
Value Realized
Upon Exercise
or Vesting
Grant Date Fair
Value Previously
Reported in
Summary
Compensation
Table
Robert C. Biesterfeld Jr.Options$$
Stock
David P. Bozeman
David P. Bozeman
David P. Bozeman4,794 414,154 (1)
Michael P. ZechmeisterMichael P. ZechmeisterOptionsMichael P. Zechmeister10,410 10,410 899,320 899,320 (1)(1)
Stock4,063 (1)404,959 333,369 
Christopher J. O’BrienOptions40,501 1,355,215 533,329 
Stock
Mac S. PinkertonOptions
Stock
Arun D. RajanArun D. Rajan23,994 2,087,463 (2)
Angela K. FreemanAngela K. Freeman7,115 614,665 (1)
Michael J. ShortMichael J. ShortOptions31,618 800,257 405,229 Michael J. Short16,046 364,051 364,051 8,890 8,890 768,007 768,007 (1)(1)
Stock1,861 (1)150,983 96,762 
Scott P. Anderson

(1)Value realized on vesting is deferred until the earlier of one year following the end of the three-year vesting period or two years after termination of employment.
(2)$1,428,372 is deferred until the earlier of one year following the end of the three-year vesting period or two years after termination of employment. $659,091 was not deferred.
(1)These shares vested pursuant to a time based shares award.
Nonqualified Deferred Compensation(1)
Name of Executive OfficerName of Executive OfficerExecutive Contributions in 2020
Registrant Contributions in 2020(2)
Aggregate Earnings in 2020Aggregate Withdrawals/ Distributions
Aggregate Balance at December 31, 2020(3)
Name of Executive Officer
Executive
Contributions
in 2023
($)
Registrant
Contributions
in 2023
($)(2)
Aggregate
Earnings (Loss)
in 2023
($)
Aggregate
Withdrawals/
Distributions
($)
Aggregate
Balance at
December 31,
2023
($)(2)
Robert C. Biesterfeld Jr.$$2,517,604 $1,908,721 $(56,312)$9,964,676 
David P. Bozeman
Michael P. ZechmeisterMichael P. Zechmeister856,295 220,707 2,840,412 
Christopher J. O’Brien557,407 1,393,935 (206,597)7,174,953 
Mac S. Pinkerton681,210 580,758 (138,475)3,407,950 
Arun D. Rajan
Angela K. Freeman
Michael J. ShortMichael J. Short526,638 529,293 (226,434)3,860,685 
Scott P. Anderson

(1)All awards referred to in this table are in the form of performance basedvested performance-based restricted shares, except Mr. Short's 2015 time based restricted share awardvested PSUs, and Mr. Zechmeister's 2019 time based restricted stock units award.vested RSUs.
(2)All values in this column represent the closing market price of the company stock on the grant date of the restricted share award.
(3)All values in this column are based on the closing market price of the company stock as of December 31, 2020.

2023.
2021 Proxy Statement82
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37

2020 EXECUTIVE COMPENSATION


Executive Compensation
Potential Payments Upon Termination or Change in Control
The company does not have a separate severance pay plan for NEOs. As part of Mr. Zechmeister's employment agreement, he would have received a payment of $710,000 if his employment was terminated other than for documented performance or misconduct issues, or if his role and associated compensation was substantially changed without his consent, on December 31, 2020. See the disclosure made under the heading Employment Agreements,description of our Executive Separation and Change in Control Plan on page 2574 for further information related to Mr. Zechmeister's employment agreement, including the terms and timing for the potential severance paymentpayments and equity acceleration described above.in the table below.
The following table lists the potential value of severance and bonus payments, and accelerated vesting of unvested performance basedPSU and performance-based restricted share awards and time basedtime-based stock optionsoption awards upon a change in control, or a termination of employment without cause or good reason, or in the case of change in control, death, or disability of our NEOs. For this purpose, change in control is defined as (i) the ownership by a person or entity of more than 50 percent50% of the Common Stockcommon stock of the company, (ii) the completion of a merger or consolidation or sale of all or substantially all of the company’s assets where the company’s directors and shareholders prior to the transaction do not comprise at least 60 percent60% of the board of the surviving entity and 60 percent60% of its shareholder base, respectively, or (iii) a majority of the Board of Directors are no longer “continuing directors”. The amounts listed are calculated based on the assumption that the NEOs’ employment was terminated or that a change in control occurred on December 31, 2020,2023, the last day of our reporting year. C.H. Robinson does not gross up payments to executive officers due to a change in control.
Name of Executive OfficerBenefits and Payments Upon TerminationChange in Control, Death, or Disability
Robert C. Biesterfeld Jr.Vesting of nonvested stock options$3,779,592 
Vesting of nonvested restricted shares7,686,920 
Michael P. ZechmeisterVesting of nonvested stock options1,227,638 
Vesting of nonvested restricted shares2,077,531 
Christopher J. O’BrienVesting of nonvested stock options805,325 
Vesting of nonvested restricted shares1,899,178 
Mac S. PinkertonVesting of nonvested stock options841,599 
Vesting of nonvested restricted shares1,593,256 
Michael J. ShortVesting of nonvested stock options760,036 
Vesting of nonvested restricted shares1,791,884 
Name of Executive OfficerBenefits and Payments Upon Termination
Death or Disability
($)(1)
Termination
Without Cause or
For Good Reason
in Connection
with CIC
($)(2)
Termination
Without Cause or
For Good Reason
Not in Connection
with CIC
($)(3)
David P. BozemanVesting of stock options— — — 
Vesting of restricted shares and units19,766,550 19,766,550 2,692,172 
Severance— 2,500,000 2,000,000 
Annual target bonus— 3,750,000 

— 
Michael P. ZechmeisterVesting of stock options150,205 150,205 150,205 
Vesting of restricted shares and units3,134,834 3,134,834 2,466,175 

Severance— 1,480,000 1,110,000 
Annual target bonus

— 1,480,000 

— 
Arun D. RajanVesting of stock options— — — 
Vesting of restricted shares and units7,667,113 7,667,113 4,364,682 
Severance

— 1,820,000 

1,365,000 
Annual target bonus

— 2,184,000 

— 
Angela K. FreemanVesting of stock options86,869 86,869 86,869 
Vesting of restricted shares and units

4,249,956 4,249,956 

1,743,782 
Severance— 1,150,000 862,500 
Annual target bonus— 862,500 — 
Michael J. ShortVesting of stock options86,869 86,869 86,869 
Vesting of restricted shares and units

4,108,276 4,108,276 

2,353,696 
Severance

— 1,250,000 

937,500 
Annual target bonus— 1,062,500— 
(1)PSUs vest at target for death/disability.
(2)PSUs vest at greater of actual or target upon a change in control. In the event of a change in control, the NEO is also eligible for COBRA premiums.
(3)In the event of severance/termination, the NEO is also eligible for COBRA premiums.
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20212024 Proxy Statement83

2020 EXECUTIVE COMPENSATION


COMPENSATION COMMITTEE REPORT
TheExecutive Compensation Committee has reviewed and discussed the Compensation Discussion and Analysis section with C.H. Robinson management and concurs that it accurately represents the compensation philosophy of the company. Based on its review and discussion with management, the Compensation Committee recommended to the Board of Directors that the Compensation Discussion and Analysis section be included in this Proxy Statement. The Compensation Committee charter is posted on the Investor Relations page of the C.H. Robinson Worldwide website at www.chrobinson.com.
Jodee A. Kozlak, Chair
Kermit R. Crawford
Wayne M. Fortun
Timothy C. Gokey Mary J. Steele Guilfoile
James B. Stake Paula C. Tolliver
The Members of the Compensation Committee
of the Board of Directors

2021 Proxy Statement
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39

2020 EXECUTIVE COMPENSATION


CEO Pay Ratio
As required by Section 953(b) of the Dodd-Frank Wall Street Reform and Consumer Protection Act, and Item 402(u) of Regulation S-K, we are providing the following information about the relationship of the annual total compensation of our employees and the annual total compensation of Robert C. Biesterfeld Jr.,David P. Bozeman, our chief executive officer (the “CEO”).President and CEO.
For 2020,2023, our last completed fiscal year:
àthe annual total compensation of our median employee was $53,900;$60,720; and
àthe annual total compensation ofof our CEO, as reported in the Summary Compensation Table, included on page 3376 of this proxy statement,Proxy Statement was $27,966,653. The annualized compensation for Mr. Bozeman, had he been in role for the entire year, would have been $34,747,946; therefore, we have used this amount to calculate the ratio of our annual total compensation for our CEO to the annual compensation of our median employee.
Summary Comp Table (SCT) Component
Actual Values
from SCT
($)
For CEO Pay
Ratio Calculation
($)
Rationale
Salary500,000 1,000,000 Annualized salary
Sign-on Bonus5,000,000 5,000,000 Not annualized, one time sign on bonus
Stock Awards21,512,222 24,646,470 
Annualized stock value for annual stock grant, plus full value of sign-on awards(1)
Non-Equity Incentive Compensation Plan13,741 26,538 Annualized bonus payout based on actual performance
All Other Compensation940,690 940,690 Not annualized, full costs
Total CEO Pay27,966,653 34,747,946 
(1)$5,432,670.18,200,943 of this value was in special one-time equity grants made to our CEO upon appointment.
Based on this information, for 2020,2023, we reasonably estimate that the ratio of our CEO’s annual total compensation to the annual total compensation of our median employee was 101:572:1. Our pay ratio estimate has been calculated in a manner consistent with Item 402(u) of Regulation S-K.
We identified our median employee based on the base salary plus overtime actually paid during fiscal year 20202023 to all members of our workforce (including full-time, part-time, and temporary employees), other than our CEO, who were employed on December 31, 2020.

2023.
For purposes of determining the base salary plus overtime actually paid, we included: the amount of base salary the employee received during the year, and the amount of overtime the employee received during the year. We included adjustments for annualizing the pay for any employees who were employed by us for only part of the year, which included those that were on furlough.
Once we identified our median employee, we then determined that employee’s total compensation, including any perquisites and other benefits, in the same manner that we determine the total compensation of our named executive officersNEOs for purposes of the Summary Compensation Table disclosed above. The total compensation of our median employee, was determined to be $53,900.$60,720. This total compensation amount for our median employee was then compared to the total compensation of our CEO disclosed above in the Summary Compensation Table,amount of $5,432,670.$34,747,946. The elements included in the CEO’s total compensation are fully discussed above in the footnotes to the Summary Compensation Table.

RELATED PARTY TRANSACTIONS
Our Audit Committee, pursuantIf special one-time sign-on bonus and equity grants were excluded from the CEO’s compensation, the ratio of our CEO’s annual total compensation to the company’s written policy and procedures regarding transactions with related parties, is responsible for reviewing, approving, and/or ratifying any transaction involving the company with related persons. As defined in the policy, (i) a “related person” includes all directors and executive officers of the company, any nominee for director, and any immediate family members of any of the foregoing persons, as well as shareholders who beneficially own greater than five percent of the company’s Common Stock and their immediate family members; and (ii) a “transaction” includes but is not limited to any financial transaction, arrangement, or relationship. A transaction does not include anyannual total compensation arrangement with an executive officer or director of the company that has been approved or authorized by the Compensation Committee. In determining whether to approve or ratify a related party transaction, the Audit Committee will consider, among other things, the business purpose and terms of the transaction, the process used to evaluate the transaction, and the significance of the interests and amounts involved in the transaction.
One of our directors, Brian P. Short, is the president, chief executive officer and, with a number of his family members, holds a controlling interest in AMMF, a privately held trucking and transportation services company. In 2020, C.H. Robinson engaged AMMF in the ordinary course of business as a contracted motor carrier to haul approximately 406 truckloads. The company paid approximately $865,000 to AMMF for these services, which represented just over one percent of AMMF’s revenues for 2020. Management reported to the Audit Committee that the prices paid for the transportation services provided by AMMF were negotiated by nine separate offices and were consistent with similar loads carried by other third-party vendors using comparable equipment. The transaction with Mr. Shortmedian employee was approved by the Audit Committee in accordance with the policy described above.
The Board of Directors and the Governance Committee also considered C.H. Robinson’s transactions with AMMF in its assessment of Mr. Short’s independence.

190:1.
4084
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2021 Proxy Statement


Executive Compensation
SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENTPay Versus Performance
As discussed in the CD&A above, our compensation framework and pay-for-performance practices provide appropriate incentives to our executive officers to achieve our financial goals and align our executives with our shareholders’ interests. A substantial portion of our NEOs’ realized compensation is linked to the achievement of our financial, operational, and strategic objectives, and to align our executive pay with changes in the value of our shareholders’ return. The following table containstables provide additional compensation information regarding beneficial ownershipfor our NEOs, calculated in accordance with Securities and Exchange Commission (“SEC”) regulations, for the years ended December 31, 2023, 2022, 2021, and 2020:
Summary
Compensation
Table Total
for CEO
($)(1)
Compensation
Actually Paid
to CEO
($)(2)
Summary
Compensation
Table Total
for Interim CEO
($)(1)
Compensation
Actually Paid
to Interim CEO
($)(2)
Average
Summary
Compensation
Table Total
for Non-CEO
NEOs
($)(1)
Average
Compensation
Actually Paid
 to Non-CEO
NEOs
($)(1)(2)(3)
Value of Initial Fixed
$100 Investment (4)
based on:
Net
Income
($ in 000’s)
Adjusted
Operating
Margin
(6)
Year
Total
Shareholder
Return
($)
Peer Group
Total
Shareholder
Return
($)(5)
202327,966,653 26,532,662 2,796,530 2,684,241 5,528,381 4,028,868 121.38 124.82 325,129 19.8 %
202210,529,870 9,724,702 N/AN/A3,425,442 3,231,790 125.27 101.23 940,524 35.3 %
202110,233,276 13,016,105 N/AN/A3,328,925 4,066,077 144.14 126.45 844,245 34.3 %
20205,432,670 7,581,756 N/AN/A1,891,881 2,370,415 123.02 104.41 506,421 27.9 %
(1)Amounts reported in the compensation columns above reflect the following individuals:
YearCEOInterim CEONon-CEO NEOs
2023David P. BozemanScott P. AndersonMichael P. Zechmeister, Arun D. Rajan, Angela K. Freeman, Michael J. Short
2022Robert C. Biesterfeld Jr.N/AMichael P. Zechmeister, Arun D. Rajan, Mac S. Pinkerton, Michael J. Short
2021Robert C. Biesterfeld Jr.N/AMichael P. Zechmeister, Mac S. Pinkerton, Arun D. Rajan, Michael J. Short
2020Robert C. Biesterfeld Jr.N/AMichael P. Zechmeister, Christopher J. O’Brien, Mac S. Pinkerton, Michael J. Short
(2)Amounts reported represent the amount of C.H. Robinson’s Common Stock“Compensation Actually Paid,” as of Monday, March 1, 2021, by (i) each person who is known by the company to own beneficially more than five percentcomputed in accordance with SEC rules. Our NEOs did not participate in a pension plan; therefore, we did not report a change in pension value for any of the Common Stock, (ii) each director or nominee,years reflected in this table, and each NEO ofa deduction from the company namedSummary Compensation Table total related to pension value is not needed. Compensation Actually Paid to CEO and Compensation Actually Paid to Interim CEO reflects the following adjustments from Total Compensation reported in the Summary Compensation Table and (iii) all current company directors and executive officers as a group. Unless otherwise noted, the shareholders listed in the table have sole voting and investment powers with respect to the shares of Common Stock owned by them. Percentage ownership of our management is based on 131,290,464 shares of our Common Stock issued and outstanding on March 1, 2021. Percentage ownership of our largest shareholders is based on the percentages set forth in the Schedule 13G/As referenced below.
Number of
Shares
Beneficially
Owned(1)
Percentage of Outstanding Shares

Number of Performance Shares Granted(2)

The Vanguard Group(3)
100 Vanguard Blvd.
Malvern, PA 19355
16,549,492 12.17%
BlackRock Inc.(4)
55 East 52nd Street
New York, NY 10055
15,998,262 11.80%
First Eagle Investment Management, LLC(5)
1345 Avenue of the Americas
New York, NY 10105
10,558,642 7.77%
State Street Corporation(6)
   State Street Financial Center
   One Lincoln Street
   Boston, MA 02111
8,298,003 6.10%
Robert C. Biesterfeld Jr.(7)
262,728 0.20%142,928 
Michael P. Zechmeister(8)
49,664 0.04%33,072 
Christopher O’Brien(9)
179,429 0.14%72,984 
Mac S. Pinkerton(10)
125,643 0.10%39,753 
Michael J. Short(11)
73,442 0.06%39,009 
Scott P. Anderson20,333 0.02%
Kermit R. Crawford399 0.00%
Wayne M. Fortun41,750 0.03%
Timothy C. Gokey9,584 0.01%
Mary J. Steele Guilfoile15,147 0.01%
Jodee A. Kozlak16,074 0.01%
Brian P. Short63,538 0.05%
James B. Stake24,018 0.02%
Paula C. Tolliver6,872 0.01%
All current executive officers and
directors as a group (20 people)
1,252,683 0.95%530,120 

Table:
2023
($)
Compensation Reported in Summary Compensation Table for CEO27,966,653 
Less: Value of stock and option awards reported in Summary Compensation Table(21,512,222)
Plus: Year-end fair value of awards granted during the fiscal year that are unvested and outstanding19,666,180 
Plus: Year-end fair value of awards granted during the fiscal year that vested in the fiscal year412,051 
Plus: Increase (decrease) the difference between fair value from the end of the prior fiscal year to the vesting date of equity awards that were granted during a prior fiscal year that vested in this fiscal year— 
Plus: Increase (decrease) the difference between fair value of equity awards from the end of the prior fiscal year to the end of the fiscal year of equity awards that were granted during a prior fiscal year that remain unvested and outstanding during the fiscal year— 
Less: Prior fiscal year-end fair value of awards that were granted during a prior fiscal year that failed to vest during the fiscal year— 
Total Adjustments(1,433,991)
Compensation Actually Paid to CEO$26,532,662 
(1)Beneficial ownership is determined in accordance with rules of the Securities and Exchange Commission and generally includes voting power and/or investment power with respect to securities. Shares of Common Stock subject to options currently exercisable within 60 days of March 1, 2021, are deemed outstanding for computing the percentage beneficially owned by the person holding such options but are not deemed outstanding for computing the percentage beneficially owned by any other person.
(2)The figures in this column represent the performance based restricted shares and units granted to the NEOs and the other executive officers of the company.
(3)Disclosure is made in reliance upon a statement on Schedule 13G filed with the Securities and Exchange Commission on February 10, 2021. The Vanguard Group, Inc., filing as an investment adviser in accordance with Rule 240.13d-1(b)(ii)(E), has shared voting power over 258,886 shares, sole dispositive power over 15,912,940 shares, and shared dispositive power over 636,552 shares.
20212024 Proxy Statement
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4185


(4)Disclosure is made in reliance upon a statement on Schedule 13G filed with the Securities and Exchange Commission on January 27, 2021. BlackRock, Inc., filing as a parent holding company or control person in accordance with Rule 240.13d-1(b)(1)(ii)(G), has sole voting power over 14,442,062 shares and sole dispositive power over 15,998,262 shares. BlackRock, Inc., reported that various persons have the right to receive or the power to direct to receive the proceeds for the sale of Common Stock, but that no single person’s interests in the Common Stock is more than five percent of the total outstanding Common Stock.
(5)Disclosure is made in reliance upon a statement on Schedule 13G filed with the Securities and Exchange Commission on February 10, 2021, by First Eagle Investment Management, LLC, filing as an investment adviser in accordance with Rule 240.13d-1(b)(ii)(E), has sole voting power over 9,732,757 shares and sole dispositive power over 10,558,642 shares.
(6)Disclosure is made in reliance upon a statement on Schedule 13G filed with the Securities and Exchange Commission on February 8, 2021, by State Street Corporation, filing as a parent holding company or control person in accordance with Rule 240.13d-1(b)(1)(ii)(G), has shared voting power over 7,140,284 shares and shared dispositive power over 8,291,709 shares.
(7)Includes 195,546 shares underlying performance-based and time-based stock options exercisable within 60 days.
(8)Includes 27,788 shares underlying time-based stock options exercisable within 60 days.
(9)Includes 7,223 shares owned by Mr. O'Brien's spouse and includes 115,163 shares underlying performance-based and time-based stock options exercisable within 60 days.
(10)Includes 94,128 shares underlying performance-based and time-based stock options exercisable within 60 days.
(11)Includes 47,392 shares underlying performance-based and time-based stock options exercisable within 60 days.

Executive Compensation
42
chr_logoxhorizontal1a.jpg2023
($)
2021 Proxy Statement
Compensation Reported in Summary Compensation Table for Interim CEO2,796,530 
Less: Value of stock and option awards reported in Summary Compensation Table(1,988,623)
Plus: Year-end fair value of awards granted during the fiscal year that are unvested and outstanding1,876,334 
Plus: Year-end fair value of awards granted during the fiscal year that vested in the fiscal year— 
Plus: Increase (decrease) the difference between fair value from the end of the prior fiscal year to the vesting date of equity awards that were granted during a prior fiscal year that vested in this fiscal year— 
Plus: Increase (decrease) the difference between fair value from the end of the prior fiscal year to the end of the fiscal year of equity awards that were granted during a prior fiscal year that remain unvested and outstanding during the fiscal year— 
Less: Prior fiscal year-end fair value of awards that were granted during a prior fiscal year that failed to vest in the fiscal year— 
Total Adjustments(112,289)
Compensation Actually Paid to Interim CEO$2,684,241 


DELINQUENT SECTION 16(a) REPORTS
Section 16(a)(3)Refer above for the list of the Securities Exchange Act of 1934, as amended, requiresNon-CEO NEOs included in the company’s executive officers and directors and persons who beneficially own more than ten percent of the company’s Common Stockfigures for 2020 through 2023. Average Compensation Actually Paid to file initial reports of ownership and reports of changes in ownership with the Securities and Exchange Commission. Such executive officers, directors, and greater than ten percent beneficial owners are required by the regulations of the Securities and Exchange Commission to furnish the company with copies of all Section 16(a) reports they file.
Based solely on a review of the copies of such reports furnished to the company and written representations from the executive officers and directors, the company determined that with regard to all Section 16(a) filing requirements applicable to our executive officers and directors and greater than 10 percent beneficial owners,Non-CEO NEOs reflects the following single report required to be filed under Section 16(a) was filed delinquently:
Michael J. Short filed one late report that covered one late transaction.




adjustments from Average Total Compensation reported in the Summary Compensation Table:
2021 Proxy Statement
image1a.jpg2023
($)
43
Average Compensation Reported in Summary Compensation Table5,528,381 
Less: Value of stock and option awards reported in Summary Compensation Table(4,574,553)
Plus: Year-end value of awards granted during the fiscal year that are unvested and outstanding3,497,189 
Plus: Year-end value of awards granted during the fiscal year that vested in the fiscal year284,502 
Plus: Increase (decrease) the difference between fair value from the end of the prior fiscal year to the vesting date of equity awards that were granted during a prior fiscal year that vested in this fiscal year(46,203)
Plus: Increase (decrease) the difference between fair value from the end of the prior fiscal year to the end of the fiscal year of equity awards that were granted during a prior fiscal year that remain unvested and outstanding during the fiscal year(57,216)
Less: Prior year fair value of awards that were granted during a prior fiscal year that failed to vest in the fiscal year(603,232)
Total Adjustments(1,499,513)
Average Compensation Actually Paid$4,028,868 


AUDIT COMMITTEE REPORT
The Audit Committee operates under(4)Total shareholder return (“TSR”) is calculated based on a written charter adopted byfixed investment of one hundred dollars measured from the Boardmarket close on December 31, 2019 (the last trading day of Directors. A copy2019) through and including the end of the charter can be found on the Investor Relations page of the C.H. Robinson website at www.chrobinson.com. The Audit Committee of the company’s Board of Directors is comprised of the following independent directors: Scott P. Anderson, Timothy C. Gokey, Brian P. Short, James B. Stake (Chair), and Paula C. Tolliver. The Board of Directors has reviewed the status of each of the members of its Audit Committee and has confirmed that each meets the independence requirements of the current Nasdaq listing standards that apply to Audit Committee members, and that Messrs. Anderson, Gokey, Short, and Stake, and Ms. Tolliver each qualifies as an “Audit Committee Financial Expert,” as defined by the Securities and Exchange Commission.
Management is responsible for the company’s internal controls and the financial reporting process. C.H. Robinson’s independent registered public accounting firm is responsible for performing an independent audit of our financial statements in accordance with generally accepted auditing standards and to issue a report thereon. The Audit Committee’s responsibility is to hire, monitor, and oversee the independent auditors.
In this context, the Audit Committee has met and held discussions with management and Deloitte & Touche LLP, the company’s independent accountant for the fiscal year ended December 31, 2020. Management representedfor each year reported in the table.
(5)Our peer group used for the TSR calculation is the NASDAQ Transportation Index, which is the industry index used to show our performance in our Form 10-K.
(6)Our company-selected measure, which is the measure we believe represents the most important financial performance not otherwise presented in the table above that we use to link Compensation Actually Paid to our NEOs for fiscal 2023 to our company’s performance, is adjusted operating margin.
Tabular List of Important Financial Performance Measures
The following table lists the most important financial performance measures we used to link Compensation Actually Paid to the Audit Committee that the company’s consolidated financial statements were prepared in accordance with generally accepted accounting principles,NEOs for fiscal 2023 to our performance:
Financial Performance Measures
Adjusted Operating Margin(1)
Diluted Earnings Per Share
Adjusted Gross Profit(1)
(1)Additional information about adjusted gross profit and the Audit Committee has reviewedadjusted operating margin, including a reconciliation to gross profit and discussed the consolidated financial statements with management and the independent accountant. The Audit Committee discussed with the independent accountant matters required to be discussed by the applicable requirements of the Public Company Accounting Oversight Board and the Securities and Exchange Commission.
Our independent accountant also provided to the Audit Committee the written disclosures and the letter required by the applicable requirements of the Public Company Accounting Oversight Board regarding our independent accountant communications with the Audit Committee concerning independence, and the Audit Committee discussed with the independent accountant the independent accountant’s independence. The Audit Committee also considered whether the provision of any non-audit services was compatible with maintaining the independence of Deloitte & Touche LLP as the company’s independent auditor.
Based upon the Audit Committee’s discussions with management and the independent accountant, the Audit Committee’s review of the representation of management, and the report of the independent accountant to the Audit Committee, the Audit Committee recommended that the Board of Directors include the audited consolidated financial statementsoperating margin, is available in our Annual Reportannual report on Form 10-K for the year ended December 31, 2020, filed with the Securities and Exchange Commission.
James B. Stake, Chair
Scott P. Anderson
Timothy C. Gokey
Brian P. Short
Paula C. Tolliver
The Members of the Audit Committee
of the Board of Directors

2023.
4486
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2021 Proxy Statement

PROPOSAL TWO: ADVISORY VOTE ON THE COMPENSATION OF NAMED EXECUTIVE OFFICERS (“SAY-ON-PAY”)Executive Compensation
C.H. Robinson is providing its shareholdersRelationship Between Pay and Performance
We believe the opportunity to cast a non-binding advisory vote on the compensation of its NEOs, as disclosed pursuant to Item 402 of Regulation S-K, including the Compensation Discussion and Analysis, compensation tables, and narrative discussion“Compensation Actually Paid” in this Proxy Statement. This advisory vote is provided as required by section 14Aeach of the Securities Exchange Actyears reported above and over the three-year cumulative period are reflective of 1934,the Talent & Compensation Committee’s emphasis on “pay-for-performance” as amended. C.H. Robinson, with guidance and oversight fromthe “Compensation Actually Paid” fluctuated year-over-year, primarily due to the result of our Compensation Committee, has adopted an executive compensation philosophy that is intended to be consistent with our overall compensation approach and to achieve the following goals:
1)provide a level of total compensation necessary to attract, retain, and motivate high quality executives;
2)pay incentive compensation aligned with company earnings at various levels;
3)emphasize both team and company performance;
4)balance incentive compensation to achieve both short-term and long-term profitability and growth; and
5)encourage executives to make long-term career commitments to C.H. Robinsonstock performance and our shareholders.
We believe thatvarying levels of achievement against pre-established performance goals under our executiveAnnual Cash Incentive Program and our Equity Compensation Program. In 2023, the significant increase in CEO compensation programreflects special circumstances around attracting a new CEO to join our company, and doing so at a time when we were in the midst of transforming the business during a period where transportation markets are experiencing weak demand and excess of carrier capacity. Similarly, the slight increase in non-CEO NEO compensation also reflects the company’s intent to retain its key management while the company is alignedin transition. Accordingly, with the long-term interestsexception of our shareholders. In considering this proposal, we encourage you2023, the charts below reflect that Compensation Actually Paid aligns to review the 2020 Compensation Discussion and Analysis section of this Proxy Statement and related compensation tables and narrative discussion beginning on page 16. It provides detailed information on our executive compensation, including our compensation philosophy and objectives and the 2020 compensation of our NEOs.
C.H. Robinson has requested shareholder approval of the compensation of our NEOs on an annual basis. Our compensation disclosures, including our Compensation Discussion and Analysis, compensation tables, and discussiontrends in this Proxy Statement, are done in accordance with the Securities and Exchange Commission’s compensation disclosure rules.
As an advisory vote, this Proposal Two is non-binding. However, the Board of Directorsours and the NASDAQ Transportation Index TSR, net income, and adjusted operating margin results over the same periods. Transportation markets in 2023 experienced weak demand for freight combined with more than sufficient capacity which resulted in an oversupplied and very competitive market.
Compensation Committee valueActually Paid versus TSR
4333
(1)TSR in the opinionsabove chart, reflects the cumulative return of our shareholders and will consider the results$100 as if invested on December 31, 2019, including reinvestment of the vote when making future compensation decisions for our NEOs.
BOARD VOTING RECOMMENDATION
The Board of Directors recommends a vote FOR the approval of the compensation of our NEOs.any dividends.
20212024 Proxy Statement87

Executive Compensation
Compensation Actually Paid versus Total Net Income
4548
Compensation Actually Paid versus Adjusted Operating Margin %
4612
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8845
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PROPOSAL THREE: RATIFICATION OF THE SELECTION OF INDEPENDENT AUDITORS
The Audit Committee has selected Deloitte & Touche LLP as the independent registered public accountant firm for C.H. Robinson for the fiscal year ending December 31, 2021.
Proposal 3: Ratification of the Selection of Independent Auditors
The Audit Committee has selected Deloitte & Touche LLP as the independent registered public accountant firm for C.H. Robinson for the fiscal year ending December 31, 2024. Representatives of Deloitte & Touche LLP will be present at our Annual Meeting, will have an opportunity to make a statement if they desire to do so, and will be available to answer shareholder questions. If the appointment of Deloitte & Touche LLP is not ratified by the shareholders, the Audit Committee is not obligated to appoint other accountants, but the Audit Committee will give consideration to such unfavorable vote.
BOARD VOTING RECOMMENDATION
The Board of Directors recommends a vote FOR ratification of the selection of Deloitte & Touche LLP as the company’s independent auditor for the year ending December 31, 2024.
2024 Proxy Statement89


Audit-Related Matters
Independent Auditors’ Fees
The following table summarizes the total fees for audit services provided by the independent auditor for the audit of our annual consolidated financial statements for the years ended December 31, 2020,2023 and December 31, 2019.2022. The table also includes fees billed for audit related, tax, and other services provided by the independent auditor during the same periods.
FeesFees20202019Fees
2023
($)
2022
($)
Audit Fees(1)
Audit Fees(1)
$1,971,574 $2,228,175 
Audit-Related Fees(2)
Audit-Related Fees(2)
59,912 233,452 
Tax Fees(3)
Tax Fees(3)
261,194 458,511 
Other Fees(4)
— 22,606 
All Other Fees(4)
TotalTotal$2,292,680 $2,942,744 


(1)Fees for audit services billed or expected to be billed relating to 20202023 and 20192022 consisted of:
Audit of the company’s annual financial statements and internal controls over financial reporting.reporting;
Reviews of the company’s quarterly financial statements.statements; and
Statutory and regulatory audits, consents, and other services related to Securities and Exchange CommissionSEC matters.
(2)Fees for audit-related services billed or expected to be billed consisted of:
Employee benefit plan audit and due diligence procedures related to closed and prospective acquisitions.
(3)Fees for tax services billed for tax compliance and tax planning and advice:
Fees for tax compliance services totaled $153,447$23,137 and $196,560$14,942 in 20202023 and 2019,2022, respectively. Tax compliance services are services provided based upon facts already in existence or transactions that have already occurred to document, compute, and obtain government approval for amounts to be included in tax filings.
Fees for tax planning and advice services totaled $107,747$907,105 and $261,951$174,539 in 20202023 and 2019,2022, respectively. Tax planning and advice services are services provided for proposed transactions or other general tax planning matters.
(4)Fees forAll other services:
Fees for human resource information system due diligencefees relate to greenhouse gas emissions reporting readiness consulting services totaled $22,606 in 2019.billed.

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Audit-Related Matters
In considering the nature of the services provided by the independent auditor, the Audit Committee determined that such services are compatible with the provision of independent audit services. The Audit Committee discussed these services with the independent auditor and our management to determine that they are permitted under the rules and regulations concerning auditor independence promulgated by the Securities and Exchange CommissionSEC to implement the Sarbanes-Oxley Act of 2002, as well as the American Institute of Certified Public Accountants. All services provided by the independent auditor during 20202023 and 20192022 were pre-approved, following the policies and procedures of the Audit Committee.
Pre-approval Policy
All the professional services were approved or pre-approved in accordance with policies of the Audit Committee and the company. These policies describe the permitted audit, audit-related, tax, and other services (collectively, the “Disclosure Categories”) that the independent auditor may perform. The policy requires that before work begins, a description of the services (the “Service List”) expected to be performed by the independent auditor, in each of the Disclosure Categories, be presented to the Audit Committee for approval.
Any requests for audit, audit-related, tax, and other services not included on the Service List must be submitted to the Audit Committee for specific pre-approval and cannot begin until approval has been granted. Normally, pre-approval is provided at regularly scheduled meetings. However, the authority to grant specific pre-approval between meetings, as necessary, has been delegated to the chairmanChair of the Audit Committee. The chairmanChair must update the Audit Committee at the next regularly scheduled meeting of any services that were granted specific pre-approval.
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2021 Proxy Statement

PROPOSAL THREE: RATIFICATION OF THE SELECTION OF INDEPENDENT AUDITORS
In addition, although not required by the rules and regulations of the Securities and Exchange Commission, the Audit Committee generally requests a range of fees associated with each proposed service on the Service List and any services that were not originally included on the Service List. Providing a range of fees for a service incorporates appropriate oversight and control of the independent auditor relationship, while permitting the company to receive immediate assistance from the independent auditor when time is of the essence.
The Audit Committee reviews the status of services and fees incurred year-to-date against the original Service List and the forecast of remaining services and fees.
The policy contains ade minimis provision that enables retroactive approval for permissible non-audit services under certain circumstances. The provision allows for the pre-approval requirement to be waived if all the following criteria are met:
1.The service is not an audit, review, or other attest service;
2.The total amount of all such services provided under this provision does not exceed the lesser of $20,000 or five percent5% of total fees paid to the independent auditor in a given fiscal year;
3.The services were not recognized at the time of the engagement to be non-audit services;
4.The services are promptly brought to the attention of the Audit Committee and approved by the Audit Committee or its designee; and
5.The service and fee are specifically disclosed in the Proxy Statement as meeting thede minimis requirements of Regulation S-X of the Securities Exchange Act of 1934, as amended.
BOARD VOTING RECOMMENDATION
2024 Proxy Statement91

Audit-Related Matters
Audit Committee Report
Management is responsible for the company’s internal controls and the financial reporting process. C.H. Robinson’s independent registered public accounting firm is responsible for performing an independent audit of our financial statements in accordance with generally accepted auditing standards and to issue a report thereon. The Audit Committee’s responsibility is to hire, monitor, and oversee the independent auditors.
In this context, the Audit Committee has met and held discussions with management and Deloitte & Touche LLP, the company’s independent accountant for the fiscal year ended December 31, 2023. Management represented to the Audit Committee that the company’s consolidated financial statements were prepared in accordance with generally accepted accounting principles, and the Audit Committee has reviewed and discussed the consolidated financial statements with management and the independent accountant. The Audit Committee discussed with the independent accountant matters required to be discussed by the applicable requirements of the Public Company Accounting Oversight Board and the Securities and Exchange Commission.
Our independent accountant also provided to the Audit Committee the written disclosures and the letter required by the applicable requirements of the Public Company Accounting Oversight Board regarding our independent accountant’s communications with the Audit Committee concerning independence, and the Audit Committee discussed with the independent accountant the independent accountant’s independence. The Audit Committee also considered whether the provision of any non-audit services was compatible with maintaining the independence of Deloitte & Touche LLP as the company’s independent auditor.
Based upon the Audit Committee’s discussions with management and the independent accountant, the Audit Committee’s review of the representation of management, and the report of the independent accountant to the Audit Committee, the Audit Committee recommended that the Board of Directors recommendsinclude the audited consolidated financial statements in our Annual Report on Form 10-K for the year ended December 31, 2023, filed with the Securities and Exchange Commission.
Mark A Goodburn, Chair
James J. Barber, Jr.
Timothy C. Gokey
James B. Stake
Paula C. Tolliver
The Members of the Audit Committee of the Board of Directors
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Security Ownership and Related Information
Security Ownership of Certain Beneficial Owners and Management
The following table contains information regarding beneficial ownership of C.H. Robinson’s common stock as of Wednesday, March 13, 2024, by (i) each person who is known by the company to own beneficially more than 5% of the common stock, (ii) each director or nominee, and each NEO of the company named in the Summary Compensation Table and (iii) all current company directors and executive officers as a group. Unless otherwise noted, the shareholders listed in the table have sole voting and investment powers with respect to the shares of common stock owned by them. Percentage ownership of our management is based on 116,993,730 shares of our common stock issued and outstanding on Wednesday, March 13, 2024. Percentage ownership of our largest shareholders is based on the percentages set forth in the Schedule 13G/As referenced below.
Number of Shares
Beneficially
Owned
(1)
Percentage of
Outstanding
Shares
Number of
Performance
Shares Granted
(2)
The Vanguard Group(3)
100 Vanguard Blvd.
Malvern, PA 19355
14,038,14912.00 %
BlackRock Inc.(4)
50 Hudson Yards
New York, NY 10105
13,065,16711.17 %
First Eagle Investment Management, LLC(5)
1345 Avenue of the Americas
New York, NY 10105
9,482,8978.11 %
State Street Corporation State(6)
State Street Financial Center
One Congress Street, Suite 1
Boston, MA 02114
7,972,6186.81 %
David P. Bozeman158,1440.14 %136,716
Michael P. Zechmeister(7)
150,4490.13 %46,114
Angela K. Freeman(8)
142,5090.12 %53,150
Arun D. Rajan132,6640.11 %63,326
Michael J. Short(9)
96,1570.08 %51,742 
Scott P. Anderson52,0150.04 %
James J. Barber Jr1,999— %
Kermit R. Crawford6,6540.01 %
Timothy C. Gokey18,8770.02 %
Mark A. Goodburn7,7490.01 %
Mary J. Steele Guilfoile20,4020.02 %
Jodee A. Kozlak21,3290.02 %
Henry J. Maier5,339— %
James B. Stake29,2760.03 %
Paula C. Tolliver12,1270.01 %
Henry W. “Jay” Winship(10)
272,8720.23 %
All current executive officers
and directors as a group (18 people)
1,376,8781.18 %429,925
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Security Ownership and Related Information
(1)Beneficial ownership is determined in accordance with rules of the Securities and Exchange Commission and generally includes voting power and/or investment power with respect to securities. Shares of common stock subject to options currently exercisable within 60 days of March 13, 2024, are deemed outstanding for computing the percentage beneficially owned by the person holding such options but are not deemed outstanding for computing the percentage beneficially owned by any other person.
(2)The figures in this column represent the performance-based restricted shares and units granted to the NEOs and the other executive officers of the company.
(3)Disclosure is made in reliance upon a statement on Schedule 13G/A filed with the Securities and Exchange Commission on February 13, 2024. The Vanguard Group, Inc., filing as an investment adviser in accordance with Rule 240.13d-1(b)(1)(ii)(E), has shared voting power over 153,135 shares, sole dispositive power over 13,513,714 shares, and shared dispositive power over 524,335 shares.
(4)Disclosure is made in reliance upon a statement on Schedule 13G/A filed with the Securities and Exchange Commission on January 24, 2024. BlackRock, Inc., filing as a parent holding company or control person in accordance with Rule 240.13d-1(b)(1)(ii)(G), has sole voting power over 11,889,438 shares and sole dispositive power over 13,065,167 shares.
(5)Disclosure is made in reliance upon a statement on Schedule 13G/A filed with the Securities and Exchange Commission on February 8, 2024, by First Eagle Investment Management, LLC (“FEIM”), filing as an investment adviser in accordance with Rule 240.13d-1(b)(1)(ii)(E), has sole voting power over 8,571,979 shares and sole dispositive power over 9,482,897 shares. The First Eagle Global Fund, a registered investment company for which FEIM acts as investment adviser, may be deemed to beneficially own 6,737,246 shares, or 5.78% of the company’s common stock.
(6)Disclosure is made in reliance upon a statement on Schedule 13G/A filed with the Securities and Exchange Commission on January 30, 2024, by State Street Corporation, filing as a parent holding company or control person in accordance with Rule 240.13d-1(b)(1)(ii)(G), has shared voting power over 5,153,469 shares and shared dispositive power over 7,964,376 shares.
(7)Includes 85,976 shares underlying time-based stock options exercisable within 60 days.
(8)Includes 43,520 shares underlying time-based stock options exercisable within 60 days.
(9)Includes 10,408 shares underlying time-based stock options exercisable within 60 days.
(10)Includes 266,936 shares beneficially owned by Pacific Point Advisors LLC. Mr. Winship disclaims beneficial ownership of the shares held by Pacific Point except to the extent of his actual pecuniary interest in such shares.
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Security Ownership and Related Information
Related Party Transactions
Our Audit Committee, pursuant to the company’s written policy and procedures regarding transactions with related parties, is responsible for reviewing, approving, and/or ratifying any transaction involving the company with related persons. As defined in the policy, (i) a “related person” includes all directors and executive officers of the company, any nominee for director, and any immediate family members of any of the foregoing persons, as well as shareholders who beneficially own greater than 5% of the company’s common stock and their immediate family members; and (ii) a “transaction” includes but is not limited to any financial transaction, arrangement, or relationship. A transaction does not include any compensation arrangement with an executive officer or director of the company that has been approved or authorized by the Talent & Compensation Committee. In determining whether to approve or ratify a related party transaction, the Audit Committee will consider, among other things, the business purpose and terms of the transaction, the process used to evaluate the transaction, and the significance of the interests and amounts involved in the transaction.
Delinquent Section 16(a) Filings
Section 16(a) of the Securities Exchange Act of 1934 (“Exchange Act”) requires the company’s executive officers, directors, and persons who beneficially own more than 10% of C.H. Robinson common stock, or any other person subject to Section 16 of the Exchange Act, to file reports of securities ownership and changes in such ownership with the Securities and Exchange Commission. Based solely upon a review of copies of such reports, or written representations that all such reports were timely filed, the company believes that each of its executive officers and directors complied with all Section 16(a) filing requirements applicable to them during 2023 except that, due to an administrative error, Mr. Winship filed one late Form 4 reporting the sale of indirectly held shares in connection with routine account maintenance.
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Additional Information
Proxy Statement for the 2024 Annual Meeting of Shareholders
This Proxy Statement is soliciting your proxy for use at the C.H. Robinson Worldwide, Inc. 2024 Annual Meeting of Shareholders (“Annual Meeting”). A proxy enables your shares of common stock to be represented and voted at the Annual Meeting. Our Annual Meeting will be virtual only and held at 1:00 p.m. Central Time on Thursday, May 9, 2024. You may attend the virtual meeting and vote FOR ratificationyour shares electronically by visiting www.virtualshareholdermeeting.com/CHRW2024. This proxy can also be used at any adjournment or postponement of the Annual Meeting.
This proxy is requested by the Board of Directors of C.H. Robinson Worldwide, Inc., (“the company,” “we,” “us,” or “C.H. Robinson”) for the following purposes:
1.To elect 12 directors to serve for a term of one year;
2.To approve, on an advisory basis, the compensation of named executive officers;
3.To ratify the selection of Deloitte & Touche LLP as the company’s independent auditor.registered public accounting firm for the fiscal year ending December 31, 2024; and
4.To conduct any other business that properly comes before the meeting and any adjournment or postponement of the meeting.
We provide our shareholders with the opportunity to access the Annual Meeting proxy materials online. A Notice of Internet Availability of Proxy Materials is being mailed to all our shareholders, except those who have previously provided instructions to receive paper copies of our proxy materials. The notice contains instructions on how to access and review our proxy materials online and how to vote your shares. The notice will also tell you how to request our proxy materials in printed form or by email, at no charge, if that is your preference. The notice contains your 16-digit control number that you will need to vote your shares at our virtual only Annual Meeting. Please keep the notice for your reference until after our Annual Meeting.
We will have completed mailing the Notice of Internet Availability of Proxy Materials to our shareholders by Friday, March 29, 2024.
Questions and Answers about the Annual Meeting
General Information
Who is entitled to vote?
Holders of record of C.H. Robinson Worldwide, Inc., common stock, par value $0.10 per share, at the close of business on March 13, 2024, are entitled to vote at our Annual Meeting. March 13, 2024 is referred to as the record date. As of the record date, 116,993,730 shares of common stock were outstanding. Each share is entitled to one vote. There is no cumulative voting.
Shares are counted as present at the Annual Meeting if either the shareholder is present and votes during the Annual Meeting, or has properly submitted a proxy by mail, by telephone, or by internet. To achieve a quorum and conduct business at the Annual Meeting, a majority of our issued and outstanding common stock as of March 13, 2024 must be present and entitled to vote. If a quorum is not represented at the Annual Meeting, the shareholders and proxies entitled to vote will have the power to adjourn the Annual Meeting until a quorum is represented.
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Additional Information
How can I vote?
If you submit your vote before the Annual Meeting using any of the following methods, your shares of common stock will be voted as you have instructed:
àOnline: You can vote your shares at www.proxyvote.com. You may access this website 24 hours a day, and voting is available through 11:59 p.m. Eastern Time on Wednesday, May 8, 2024. You will need your 16-digit control number that was included in the notice that was mailed to you. The voting website has easy-to-follow instructions and allows you to confirm that the system has properly recorded your votes. If your shares are held beneficially, please follow the internet voting instructions in the notice you received from your bank, broker, trustee, or other record holder.
àBy Telephone: You can vote your shares by telephone. To vote your shares by telephone, please go to www.proxyvote.com and log in using your 16-digit control number provided on your notice. At that website, you will be provided with a telephone number for voting. Alternatively, if you request paper copies of the proxy materials, your proxy card or voting instruction form will have a toll-free telephone number that you may use to vote your shares. Telephone voting is available through 11:59 p.m. Eastern Time on Wednesday, May 8, 2024. When you vote by telephone, you will be required to enter your 16-digit control number, so please have it available when you call. As with online voting, you will be able to confirm that the system has properly recorded your votes.
àBy Mail: If you choose to receive paper copies of the proxy materials by mail and you are a holder of record, you can vote by marking, dating, and signing your proxy card and returning it by mail in the postage-paid envelope provided to you. If you choose to receive paper copies of the proxy materials by mail, and you hold your shares beneficially, you can vote by completing and mailing the voting instruction form provided by your bank, broker, trustee, or holder of record.
Your vote is important, and we encourage you to vote promptly. Online and telephone voting are available through 11:59 p.m. Eastern Time on Wednesday, May 8, 2024 for all shares entitled to vote. The company will be hosting the Annual Meeting virtually, which we believe allows C.H. Robinson to be more inclusive and reach a greater number of our shareholders. To attend the virtual meeting please visit www.virtualshareholdermeeting.com/CHRW2024 and be sure to have the 16-digit control number provided to you on your Notice of Internet Availability of Proxy Materials or proxy card. If you are a beneficial shareholder (you hold your shares through a nominee, such as a broker), your nominee can advise you on whether you will be able to submit voting instructions by telephone or via the internet. Submitting your proxy will not affect your right to vote electronically, if you decide to login with your 16-digit control number and attend the virtual only Annual Meeting. Shareholders logging into the Annual Meeting with their 16-digit control number will receive the same rights and opportunities to participate in the Annual Meeting as they would if the meeting was an in-person meeting. This includes having the ability to ask questions throughout the Annual Meeting and having those questions answered during the question-and-answer period at the end of the Annual Meeting, to the extent such questions are related to the business being conducted at the Annual Meeting. Shareholders logging in with their 16-digit control number will be able to ask questions at any time during the Annual Meeting. Relevant questions related to business being conducted at the Annual Meeting will be answered following the adjournment of the Annual Meeting, and the company will prioritize questions that relate to the proposals considered at the Annual Meeting. If a shareholder asks general questions about C.H. Robinson, a representative of the company will respond to the shareholder following the adjournment of the Annual Meeting. Shareholders can learn more information about how to access the Annual Meeting by visiting www.virtualshareholdermeeting.com/CHRW2024.
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Additional Information
What am I voting on, how many votes are required to approve each item, how are votes counted, and how does the Board recommend I vote?
The table below summarizes the proposal that will be voted on, the vote required to approve each item, how votes are counted, and how the Board recommends you vote:
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ItemVote RequiredVoting Options
Board Recommendation(1)
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Broker Discretionary Voting?(2)
Effect of AbstentionEffect of Broker Non-Vote
Proposal 1:
Election of Directors
Majority of votes cast (votes FOR must exceed votes AGAINST)(3)
FOR
AGAINST
ABSTAIN
FOR each nomineeNoNoneNone
Proposal 2:
Advisory Vote on the Compensation of Named Executive Officers
We will consider our shareholders to have approved this advisory proposal if the votes cast FOR exceed the votes cast AGAINST
FOR
AGAINST
ABSTAIN
FORNoNoneNone
Proposal 3: Ratification of the Selection of Independent Auditors
Majority of shares present in person or by proxy
FOR
AGAINST
ABSTAIN
FORYesAgainstNone
(1)If you sign and return your proxy without any specific voting instructions, your proxy will be voted in accordance with the Board recommendation listed above.
(2)Brokers cannot vote shares on their customers’ behalf on “non-routine” proposals without receiving voting instructions from a customer, but may vote on “routine” proposals without such instructions. The table indicates that the only routine proposal is Proposal 3. If a broker does not receive voting instructions from its customer with respect to the other non-routine proposals and is precluded from voting on those proposals, then a “broker non-vote” occurs. If a broker returns a proxy indicating a lack of authority to vote on non-routine proposals, the shares represented by the proxy will be deemed present at the meeting for purposes of determining a quorum, but not present for purposes of calculating the vote on the non-routine proposals.
(3)With respect to the election of directors, our Bylaws provide for a plurality voting standard in the event of a contested director election, as an exception to the majority voting standard described above, and contain a director resignation requirement. Under the director resignation requirement, any incumbent director who fails to receive a majority vote in an uncontested election is required to tender his or her resignation, subject to acceptance by the Board. Our Governance Committee will make a recommendation to the Board on whether to accept the resignation, and the Board will act upon such resignation within 90 days from the date the election results are certified and then publicly disclose its determination. The director who tenders his or her resignation will not participate in the recommendation or decision with respect to his or her resignation. Because the election of directors at the Annual Meeting is uncontested, the majority voting requirement described above applies to the election of directors at the Annual Meeting.
How do I revoke my proxy?
You may revoke your proxy and change your vote at any time before the voting closes at the Annual Meeting. You may do this by submitting a properly executed proxy with a later date, or by delivering a written revocation to the corporate secretary’s attention at the company’s address listed above, or during the Annual Meeting.
Shareholder Proposals and Other Matters
C.H. Robinson did not receive written notice of any shareholder proposal and, as of the date of this Proxy Statement, the Board of Directors knows of no business that will be presented for consideration at the Annual Meeting other than the matters described in this Proxy Statement. If any other matters are properly brought before the Annual Meeting, the persons named in the proxy card will have discretionary authority to vote on such matters and will vote according to their best judgment.
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Additional Information
SOLICITATION OF PROXIESOther Information
Solicitation of Proxies
C.H. Robinson is making this solicitation and is paying the costs of solicitation, including the cost of preparing and mailing the Notice of Internet Availability of Proxy Materials and this Proxy Statement. Proxies are being solicited primarily via the internet, but the solicitation may be followed by solicitation in person, by mail, by telephone, by facsimile, or by regular employees of C.H. Robinson without additional compensation. C.H. Robinson will reimburse brokers, banks, and other custodians and nominees for their reasonable out-of-pocket expenses incurred in sending proxy materials to the company’s shareholders.
PROPOSALS FOR THE 2021 ANNUAL MEETINGProposals for the 2025 Annual Meeting
Consistent with our Bylaws and federal securities laws, any shareholder proposal to be presented at the 20212025 Annual Meeting of Shareholders must be received at C.H. Robinson’s executive offices, 14701 Charlson Road, Eden Prairie, Minnesota 55347, not less than 90 days before the first anniversary of the prior year’s meeting. Assuming that our 20212024 Annual Meeting is held on schedule, we must receive notice pertaining to the 20222025 Annual Meeting no later than February 5, 2022.8, 2025. Proposals should be sent to the attention of the corporate secretary and must include certain information about the shareholder and the business they want to be conducted. These requirements are provided in greater detail in our company Bylaws. C.H. Robinson will exercise its discretionary authority with respect to any matter not properly presented by February 5, 2022.8, 2025. Furthermore, with respect to any proposal that a shareholder desires to be included in the company’s 20222025 proxy materials, such notice must be received at the above address no later than Tuesday, November 23 2021.26, 2024. Please see "Proposal One:Proposal 1: Election of Directors - Nominations"Board Nomination Process” on page 28 for information regarding the shareholder nomination process.process, including the right of our shareholders to nominate directors using “proxy access” and the deadlines for doing so.
In addition, to comply with the universal proxy rules, shareholders who intend to solicit proxies in support of director nominees other than the company’s nominees must provide notice that sets forth the information required by Rule 14a-19 under the Securities Exchange Act of 1934 no later than March 10, 2025.
Householding
The Securities and Exchange Commission has adopted rules that permit companies and intermediaries such as brokers to satisfy delivery requirements for proxy statements and annual reports with respect to two or more shareholders sharing the same address by delivering a single proxy statement or annual report, as applicable, addressed to those shareholders. This process, which is commonly referred to as “householding”, potentially provides extra convenience for shareholders and cost savings for companies. We household our proxy materials and annual reports for shareholders, delivering a single proxy statement and annual report to multiple shareholders sharing an address unless contrary instructions have been received from the affected shareholders.
If, at any time, you no longer wish to participate in householding and would prefer to receive a separate proxy statement or Annual Report,annual report, or if you are receiving multiple copies of either document and wish to receive only one, please contact us in writing or by telephone at C.H. Robinson Worldwide, Inc., Attention: Chief Legal Officer and Corporate Secretary, by telephone at (952) 937-7829, or by writing to him at 14701 Charlson Road, Eden Prairie, MN 55347. We will deliver promptly upon written or oral request a separate copy of our Annual Report and/or Proxy Statement to a shareholder at a shared address to which a single copy of either document was delivered.
GENERALGeneral
Our Annual Report and Form 10-K for the fiscal year ended December 31, 2020,2023, are available on the internet at www.proxyvote.com. The Annual Report is not part of the soliciting materials. Please vote using the internet or by telephone or, if you elect to receive paper copies of the proxy materials, by mail. Please sign, date, and return your proxy or voting instruction form in the prepaid envelope you received. We encourage you to attend the May 6, 2021,9, 2024, Annual Meeting. You may attend the meeting and vote your shares electronically as part of our virtual meeting of shareholders by visiting www.virtualshareholdermeeting.com/CHRW2021.CHRW2024. The meeting will be completely virtual. You will need the control number that is printed in the box marked by the arrow on your Notice Regarding the Availability of Proxy Materials or proxy card to enter the Annual Meeting. We recommend that you log in at least fifteen15 minutes before the meeting to ensure that you are logged in when the meeting starts.
The information in this Proxy Statement underBy Order of the captions “Compensation Discussion and Analysis”, the “Compensation Committee Report”, and “Audit Committee Report” is not incorporated by reference into any filing by the company under the Securities ActBoard of 1933 or the Securities Exchange Act of 1934, except to the extent that in any such filing the company expressly so incorporates such information by reference. Additionally, the “Compensation Committee Report”, and “Audit Committee Report” are not “soliciting material” or to be “filed" with the Securities and Exchange Commission.Directors:
By Order of the Board of Directors:
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Ben G. Campbell
Chief Legal Officer and Secretary
March 23, 202126, 2024
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