John C. May

Chairman, Chief Executive Officer, and President at DEERE &

Board

Since November 2019

Age

55 years

Tenure

Joined DE in 1997 and advanced through several leadership roles including Director, China Operations; Factory Manager; Vice President; President; Chief Operating Officer; and ultimately, Chief Executive Officer and Chairman, Chief Executive Officer, and President.

Also at DEERE &

CJR

Cory J. Reed

President, Worldwide Agriculture & Turf Division, Production & Precision Ag

DMK

Deanna M. Kovar

President, Worldwide Agriculture & Turf Division, Small Ag & Turf

FJP

Felecia J. Pryor

Senior Vice President and Chief People Officer

About

John C. May is a seasoned leader currently serving as the Chairman, Chief Executive Officer, and President of DE. At 55 years old , his career at DE spans nearly three decades, beginning with his initial joining in 1997. His long-standing service reflects a deep commitment to advancing the company's strategic objectives.

Throughout his tenure, he has held several critical roles that have helped shape the company’s direction. Starting as the Director of China Operations, he quickly advanced to manage manufacturing as a Factory Manager and later assumed executive responsibilities as Vice President and President, before taking on the roles of Chief Operating Officer and then Chief Executive Officer.

His promotion to CEO in 11-2019 marked a significant milestone, setting the stage for his transition into the current combined leadership role. Beyond his responsibilities at DE, his service as a director on the board of Ford Motor Company further highlights his expertise and influence in the broader industry.

$DE Performance Under John C. May

Past Roles

Organization	Role	Date Range	Details
Deere & Company	Chief Executive Officer and President	November 2019 - May 2020	N/A
Deere & Company	President and Chief Operating Officer	April 2019 - November 2019	N/A
Deere & Company	President, Worldwide Agriculture & Turf Division, Global Harvesting and Turf Platforms, Ag Solutions (Americas and Australia)	2018 - 2019	N/A
Deere & Company	President, Agricultural Solutions & Chief Information Officer	2012 - 2018	N/A
Deere & Company	Vice President, Agriculture & Turf Global Platform, Turf & Utility	2009 - 2012	N/A
Deere & Company	Factory Manager, John Deere Dubuque Works	2007 - 2009	N/A
Deere & Company	Director, China Operations	2004 - 2007	N/A

External Roles

Organization	Role	Date Range
Ford Motor Company	Directorship	N/A

Fixed Compensation

Data from FY 2024

Component Name	Amount	Payment Schedule	Additional Details
Base Salary	$1,658,671	Annual	Fixed annual salary.
Corporate Aircraft Usage	$195,781	Annual	Incremental cost for 50 hours of personal use.
Security Patrols	$23,062	Annual	Security monitoring for personal residence.
Miscellaneous Perquisites	$5,554	Annual	Includes spousal event attendance, excess liability premiums, annual physicals.
Defined Contribution Plans	$756,983	Annual	Contributions to defined contribution plans.

Performance Compensation

Data from FY 2024

Short-Term Incentive (STI) Plan

Metric	Weight	Target / Details	Actual Results/Comments
Operating Return on Operating Assets	50%	Focuses on return on capital and asset utilization	N/A
Operating Return on Sales	40%	Measures profitability	N/A
Return on Equity	10%	Assesses efficient use of equity in the financial segment	N/A
Payout		Target STI rate of 200% of base salary	Achieved 180.0% resulting in $5,971,216 payout

Evaluation Period: Annual
Vesting Schedule: Cash-based payout; no vesting schedule.
Additional Condition: Equipment Operations at 91% of mid-cycle.

Equity Incentive Plan Awards (PSUs)

Metric	Details
Performance Metrics	Relative Revenue Growth and Relative TSR, equally weighted
Performance Payout Thresholds	Below 25th percentile: 0%; 25th: 25%; 50th: 100%; 75th and above: 200%
Vesting Schedule	Three-year performance period ending in 2026
Grant Date	December 13, 2023
Grant Date Fair Value	$8,612,848
Grant Date Stock Price	$377.01 per share

Performance-Based Long-Term Incentive (LTI)

Component	Details
Award Mix	50% PSUs, 25% RSUs, 25% Stock Options
PSUs Targets	Threshold: 5,888 units; Target: 23,552 units; Maximum: 47,104 units
Vesting Schedule (PSUs)	Three-year performance period ending in fiscal 2027
Performance Adjustment Factor	PSUs adjusted by a factor of +/-20%
Stock Options & RSUs Details	Vesting details not fully specified