Richard J. Tobin

President, CEO, and Chairman of the Board at DOVER

Board

Since May 2018

Age

61 years

Education

Holds a Bachelor of Arts from Norwich University and an MBA from Drexel University.

Tenure

Joined DOV as a Director in August 2016, became President and CEO in May 2018, and was appointed Chairman on February 10, 2024.

Also at DOVER

CBW

Christopher B. Woenker

Senior Vice President and CFO

Girish Juneja

Senior Vice President and Chief Digital Officer

IMC

Ivonne M. Cabrera

Senior Vice President, General Counsel, and Secretary

About

Richard J. Tobin is a seasoned executive with extensive leadership experience in multinational industrial companies. He began his professional trajectory by taking on key financial and operational roles before joining DOV, where he quickly climbed the ranks from Director in August 2016 to President and CEO in May 2018.

In his current capacity, he has driven strategic initiatives that have bolstered corporate governance and long-term shareholder value. His appointment as Chairman on February 10, 2024 further underscores the board’s confidence in his vision and ability to execute transformative business strategies.

Beyond his roles at DOV, his professional journey includes pivotal leadership positions at major industrial firms, where he honed his expertise in global capital markets, operations, and financial management. His career is complemented by a solid educational foundation, having earned a Bachelor of Arts and an MBA, which has underpinned his success and commitment to excellence.

$DOV Performance Under Richard J. Tobin

Past Roles

Organization	Role	Date Range	Details
Dover Corporation	Director	Aug 2016 - May 2018	Held prior to appointment as President, CEO, and Chairman
CNH Industrial NV	CEO	N/A	Led initiatives to increase efficiencies, innovate technologies, expand geographically, and maximize the portfolio
Fiat Industrial S.p.A	Group Chief Operating Officer	N/A	N/A
CNH Global NV	President and CEO; CFO	N/A	Held both leadership and finance roles
SGS Group	CFO & Head of IT; COO for North America	N/A	Combined finance, technology, and operational oversight roles

External Roles

Organization	Role	Date Range
KeyCorp	Director	N/A

Fixed Compensation

Data from FY 2023

Component Name	Amount	Payment Schedule	Additional Details
Base Salary	$1,292,500	2023	Fixed annual base salary
401(k) Matching Contributions	$14,850	2023	Matching contributions under the 401(k) plan
Non-Elective Contributions in the Nonqualified Deferred Compensation Plan	$133,309	2023	4.5% non-elective contribution as he does not participate in the PRP
Deferred Compensation Plan Contributions by the Company	$176,357	2023	Company's contribution to the Deferred Compensation Plan

Performance Compensation

Data from FY 2023

Annual Incentive Plan (AIP)

Metric	Value	Additional Details
Threshold Payout	$975,000	Minimum performance level required
Target Payout	$1,950,000	Base target payout
Maximum Payout	$3,900,000	Cap on the bonus payout
Grant Date	February 10, 2023	The plan is cash-based; vesting is not applicable and payment is made in Q1 of the following year

Performance Shares

Metric	Value	Additional Details
Threshold Shares	24,796 shares	Minimum share level if performance criteria are met
Target Shares	74,388 shares	Represents 100% of the awarded performance shares
Maximum Shares	223,164 shares	300% of the target shares, linked to relative TSR performance
Grant Date	February 10, 2023	Vesting occurs after a three-year performance period ending December 31, 2025
Grant Date Fair Value	$249.48 per share	Valuation per share computed using a Monte Carlo simulation model
Grant Date Stock Price	$153.25 per share	Stock price at the time of grant
Performance Metric	Relative TSR vs. S&P 500 Industrials	Payout is based on the company’s stock return performance relative to a benchmark

Strategic Objectives Factor

Metric	Value	Additional Details
Weight	20% each	Five key performance metrics each weighted equally
Achieved Factor	110%	Reflects overall performance against strategic objectives
Performance Areas	Productivity, Capital Markets Engagement, Portfolio Management, Talent & Diversity, ESG	Detailed accomplishments in these areas provided

Stock-Settled Appreciation Rights (SSARs)

Metric	Value	Additional Details
Number of SSARs Granted	110,205	Total SSARs issued to the executive
Grant Date	February 10, 2023	SSARs vest on February 10, 2026, and are exercisable for an additional 7 years
Grant Date Stock Price	$153.25 per share	Stock price at the time of grant
Grant Date Fair Value	$5,209,390 total	Calculated using the Black-Scholes model; $47.27 per SSAR
Vesting Schedule	Vest on February 10, 2026	SSARs become exercisable after vesting; payout is the difference between market price upon exercise and grant price

These components collectively define the performance compensation for 2023, with cash incentives and share-based awards tied closely to established performance metrics and targets. All details strictly pertain to the 2023 compensation framework as provided in the documents.