Mark W. Sheahan

President and CEO at GRACO

Board

Since June 10, 2021

Age

60 years

Tenure

Joined Graco in 1995 and held multiple roles including Manager, Treasurer, Vice President and Treasurer, Chief Administrative Officer, Vice President and General Manager of the Applied Fluid Technologies Division, and Chief Financial Officer and Treasurer before becoming President and CEO in June 2021.

Also at GRACO

AFW

Angela F. Wordell

EVP, Operations

CDK

Christopher D. Knutson

EVP, Corporate Controller

Claudio Merengo

President, Worldwide Powder Division

About

Mark W. Sheahan is currently 60 years old and has built an extensive career in the industrial manufacturing sector, starting his journey with Graco in 1995.

Over the course of his tenure, he has progressed through a series of leadership positions beginning as Manager in Treasury Services, advancing to Treasurer, and later taking on roles as Vice President and Treasurer, Chief Administrative Officer, Vice President and General Manager of the Applied Fluid Technologies Division, and Chief Financial Officer and Treasurer. His dedication and leadership were further recognized when he assumed the role of President and CEO on June 10, 2021.

Beyond his accomplishments at Graco, his influence extends into the broader industrial sphere through his service as a board member for the Tennant Company and Fernweh Group, LLC, reflecting a commitment to advancing industry standards and strategic growth.

$GGG Performance Under Mark W. Sheahan

Past Roles

Organization	Role	Date Range	Details
Graco Inc. (GGG)	Chief Financial Officer and Treasurer	June 2018 to June 2021	N/A
Graco Inc. (GGG)	Vice President and General Manager, Applied Fluid Technologies Division	2008 to June 2018	N/A
Graco Inc. (GGG)	Chief Administrative Officer	2005 to 2008	N/A
Graco Inc. (GGG)	Vice President and Treasurer	1998 to 2005	N/A
Graco Inc. (GGG)	Manager, Treasury Services	Prior to December 1996	N/A

External Roles

Organization	Role	Date Range	Details
Tennant Company	Director	N/A	N/A
Fernweh Group, LLC	Board of Managers	N/A	Provides consulting and investment services in the industrial and industrial-technology sectors

Fixed Compensation

Data from FY 2023

Component Name	Amount	Payment Schedule	Additional Details
Base Salary	$985,000	Annually	Fixed annual base salary for the CEO position
Employee Investment Plan Matching Contribution	$9,900	Annually	Contribution made as part of the employee investment plan
Other Perquisites	$16,858	Annually	Includes long-term disability coverage, financial planning, spousal travel, miscellaneous travel, and an executive physical

Performance Compensation

Data from FY 2023

Short-Term Incentives (STI)

Metric/Condition	Details
Performance Metrics Weighting	Corporate Net Sales: 40%; Corporate Incentive EPS: 60%
Target Performance Level	102% of 2022 actual results
Threshold Performance Level	90% of the 2023 target performance
Maximum Performance Level	105% of the 2023 target performance
Actual Results (Corporate Net Sales)	100%
Actual Results (Corporate Incentive EPS)	113%
Target Payout (Based on Base Salary)	$985,000 (100% of Base Salary)
Actual Payout	$1,299,436 (132% of Base Salary)
Vesting Schedule	Not applicable (cash incentive paid based on annual performance)
Evaluation Period	2023

Long-Term Incentives (LTI)

Metric/Condition	Details
Grant Date	February 17, 2023
Number of Options Granted	245,530
Grant Date Fair Value	$5,499,872
Exercise Price	$71.47
Closing Market Price on Grant Date	$72.47
Vesting Schedule	25% per year over 4 years starting February 17, 2024
Expiration Date	February 17, 2033
Performance Condition	Stock price appreciation above the grant date fair value
Plan Details	Non-qualified stock options under the Graco Inc. 2019 Stock Incentive Plan