Grantee: | #ParticipantName# |
Number of Restricted Stock Units “PRSUs”: | #QuantityGranted# |
Date of Grant: | #GrantDate# |
Performance Period: | January 1, 2024 to December 31, 2026 |
Vesting Date: | December 31, 2026 |
CECO ENVIRONMENTAL CORP.
Performance-Based Restricted Stock Units Agreement
This PERFORMANCE-BASED RESTRICTED STOCK UNITS AGREEMENT (this “Agreement”) is made as of the date set forth above (the “Date of Grant”) by and between CECO Environmental Corp., a Delaware corporation (the “Company”), and the individual named above (the “Grantee”).
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CECO ENVIRONMENTAL CORP.
By:
Name:
Title:
Grantee Acknowledgment and Acceptance
By:
Name: #ParticipantName#
Acceptance Date: #AcceptanceDate#
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Statement of Performance Goals
This Statement of Performance Goals applies to the PRSUs granted to the Grantee on the Date of Grant and applies with respect to the Performance-Based Restricted Stock Units Agreement between the Company and the Grantee (the “Agreement”). Capitalized terms used in this Statement of Performance Goals that are not specifically defined in this Statement of Performance Goals have the meanings assigned to them in the Agreement.
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Performance Level | RTSR | % of PRSUs Earned |
Below Threshold | Below 25th percentile | 0% |
Threshold | At 25th percentile | 50% |
Target | At 50th percentile | 100% |
Maximum | At or above 75th percentile | 200% |
provided, however, that if the Company’s Total Shareholder Return for the Performance Period is negative, the percentage of the PRSUs earned will not exceed 100%.
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EXHIBIT A
RTSR Peer Group Entities
Company (n = 125) | Industry | Revenue | Market Cap |
3D Systems Corporation | Industrials | $506 | $847 |
ACCO Brands Corporation | Industrials | $1,844 | $577 |
AdvanSix Inc. | Materials | $1,555 | $808 |
AerSale Corporation | Industrials | $335 | $652 |
Air Transport Services Group, Inc. | Industrials | $2,087 | $1,142 |
Allient Inc. | Industrials | $569 | $490 |
Alta Equipment Group Inc. | Industrials | $1,784 | $400 |
Apogee Enterprises, Inc. | Industrials | $1,399 | $1,179 |
Argan, Inc. | Industrials | $528 | $624 |
Aspen Aerogels, Inc. | Materials | $214 | $1,204 |
Astec Industries, Inc. | Industrials | $1,351 | $846 |
Astronics Corporation | Industrials | $652 | $591 |
Barrett Business Services, Inc. | Industrials | $1,065 | $766 |
Blue Bird Corporation | Industrials | $1,133 | $867 |
BlueLinx Holdings Inc. | Industrials | $3,272 | $993 |
Bowman Consulting Group Ltd. | Industrials | $329 | $520 |
BrightView Holdings, Inc. | Industrials | $2,787 | $788 |
Cadre Holdings, Inc. | Industrials | $482 | $1,236 |
Century Aluminum Company | Materials | $2,203 | $1,122 |
ChargePoint Holdings, Inc. | Industrials | $544 | $978 |
Clearwater Paper Corporation | Materials | $2,097 | $598 |
Coeur Mining, Inc. | Materials | $769 | $1,247 |
Columbus McKinnon Corporation | Industrials | $1,002 | $1,120 |
Compass Minerals International, Inc. | Materials | $1,205 | $1,043 |
Concrete Pumping Holdings, Inc. | Industrials | $442 | $449 |
Conduent Incorporated | Industrials | $3,755 | $793 |
Covenant Logistics Group, Inc. | Industrials | $1,104 | $596 |
CRA International, Inc. | Industrials | $607 | $692 |
CVR Partners, LP | Materials | $752 | $692 |
Daseke, Inc. | Industrials | $1,618 | $377 |
Deluxe Corporation | Industrials | $2,192 | $937 |
DNOW Inc. | Industrials | $2,313 | $1,204 |
Douglas Dynamics, Inc. | Industrials | $594 | $682 |
Ducommun Incorporated | Industrials | $753 | $760 |
DXP Enterprises, Inc. | Industrials | $1,678 | $545 |
Eagle Bulk Shipping Inc. | Industrials | $441 | $550 |
Ecovyst Inc. | Materials | $701 | $1,134 |
Energy Recovery, Inc. | Industrials | $113 | $1,065 |
Ennis, Inc. | Industrials | $425 | $567 |
Enviri Corporation | Industrials | $2,009 | $719 |
Forrester Research, Inc. | Industrials | $500 | $516 |
Franklin Covey Co. | Industrials | $280 | $578 |
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Frontier Group Holdings, Inc. | Industrials | $3,604 | $1,207 |
FTAI Infrastructure Inc. | Industrials | $310 | $387 |
FuelCell Energy, Inc. | Industrials | $123 | $723 |
Genco Shipping & Trading Limited | Industrials | $395 | $706 |
GrafTech International Ltd. | Industrials | $731 | $562 |
Great Lakes Dredge & Dock Corporation | Industrials | $555 | $512 |
Hawaiian Holdings, Inc. | Industrials | $2,716 | $733 |
Haynes International, Inc. | Materials | $590 | $722 |
Healthcare Services Group, Inc. | Industrials | $1,672 | $766 |
Heartland Express, Inc. | Industrials | $1,207 | $1,127 |
Heidrick & Struggles International, Inc. | Industrials | $1,009 | $594 |
HireRight Holdings Corporation | Industrials | $731 | $910 |
Hudson Technologies, Inc. | Industrials | $292 | $614 |
Hyster-Yale Materials Handling, Inc. | Industrials | $4,076 | $1,069 |
Insteel Industries, Inc. | Industrials | $604 | $745 |
Interface, Inc. | Industrials | $1,272 | $733 |
Kaiser Aluminum Corporation | Materials | $3,141 | $1,132 |
Kaman Corporation | Industrials | $770 | $677 |
Karat Packaging Inc. | Industrials | $403 | $496 |
Kelly Services, Inc. | Industrials | $4,837 | $763 |
Kforce Inc. | Industrials | $1,588 | $1,278 |
Koppers Holdings Inc. | Materials | $2,124 | $1,067 |
Kronos Worldwide, Inc. | Materials | $1,609 | $1,143 |
Limbach Holdings, Inc. | Industrials | $517 | $500 |
Liquidity Services, Inc. | Industrials | $314 | $529 |
LSB Industries, Inc. | Materials | $695 | $692 |
LSI Industries Inc. | Industrials | $474 | $407 |
Mativ Holdings, Inc. | Materials | $2,629 | $830 |
Matthews International Corporation | Industrials | $1,881 | $1,127 |
Microvast Holdings, Inc. | Industrials | $267 | $441 |
Miller Industries, Inc. | Industrials | $1,083 | $484 |
Montrose Environmental Group, Inc. | Industrials | $598 | $970 |
MRC Global Inc. | Industrials | $3,513 | $928 |
Myers Industries, Inc. | Materials | $835 | $720 |
National Presto Industries, Inc. | Industrials | $357 | $569 |
Olympic Steel, Inc. | Materials | $2,189 | $743 |
Omega Flex, Inc. | Industrials | $114 | $712 |
P.A.M. Transportation Services, Inc. | Industrials | $868 | $458 |
Pangaea Logistics Solutions, Ltd. | Industrials | $495 | $383 |
Perimeter Solutions, SA | Materials | $304 | $703 |
Pitney Bowes Inc. | Industrials | $3,303 | $776 |
Planet Labs PBC | Industrials | $215 | $710 |
Powell Industries, Inc. | Industrials | $766 | $1,057 |
Preformed Line Products Company | Industrials | $694 | $655 |
Proto Labs, Inc. | Industrials | $494 | $1,005 |
Quanex Building Products Corporation | Industrials | $1,131 | $1,001 |
Ramaco Resources, Inc. | Materials | $626 | $871 |
Ranpak Holdings Corp. | Materials | $325 | $481 |
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Resources Connection, Inc. | Industrials | $705 | $477 |
REV Group, Inc. | Industrials | $2,638 | $1,081 |
Ryerson Holding Corporation | Materials | $5,285 | $1,185 |
Schnitzer Steel Industries, Inc. | Materials | $2,956 | $840 |
SP Plus Corporation | Industrials | $872 | $1,007 |
Steel Partners Holdings L.P. | Industrials | $1,861 | $852 |
Stem, Inc. | Industrials | $450 | $605 |
Sterling Check Corp. | Industrials | $720 | $1,312 |
Stratasys Ltd. | Industrials | $631 | $988 |
Sun Country Airlines Holdings, Inc. | Industrials | $1,050 | $852 |
SunCoke Energy, Inc. | Materials | $2,057 | $900 |
SunPower Corporation | Industrials | $1,825 | $847 |
TaskUs, Inc. | Industrials | $932 | $1,167 |
The GEO Group, Inc. | Industrials | $2,426 | $1,322 |
The Gorman-Rupp Company | Industrials | $645 | $931 |
The Greenbrier Companies, Inc. | Industrials | $3,986 | $1,374 |
The Manitowoc Company, Inc. | Industrials | $2,254 | $586 |
The Shyft Group, Inc. | Industrials | $972 | $419 |
Thermon Group Holdings, Inc. | Industrials | $475 | $1,098 |
TimkenSteel Corporation | Materials | $1,280 | $1,012 |
Titan International, Inc. | Industrials | $1,941 | $921 |
Titan Machinery Inc. | Industrials | $2,489 | $652 |
Transcat, Inc. | Industrials | $251 | $965 |
TriMas Corporation | Materials | $887 | $1,049 |
Triumph Group, Inc. | Industrials | $1,403 | $1,274 |
TrueBlue, Inc. | Industrials | $1,972 | $478 |
TTEC Holdings, Inc. | Industrials | $2,495 | $1,028 |
Tutor Perini Corporation | Industrials | $3,765 | $473 |
United States Lime & Minerals, Inc. | Materials | $274 | $1,309 |
Universal Logistics Holdings, Inc. | Industrials | $1,730 | $736 |
Valhi, Inc. | Materials | $1,871 | $430 |
Viad Corp | Industrials | $1,195 | $757 |
VSE Corporation | Industrials | $1,077 | $1,017 |
Wabash National Corporation | Industrials | $2,598 | $1,181 |
Westlake Chemical Partners LP | Materials | $1,260 | $763 |
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CECO Environmental Corp. | Industrials | $508 | $706 |
Source: CapIQ as of January 1, 2024 |
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