Aaron P. Jagdfeld

President, CEO, and Chairman at GENERAC HOLDINGS

Board

Since September 2008

Age

53 years

Education

Earned a Bachelor of Business Administration in Accounting from the University of Wisconsin-Whitewater.

Tenure

Joined GNRC in 1994, served as Chief Financial Officer from 2002 to 2006, was promoted to President in 2007, became CEO in September 2008, and was named Chairman in February 2016.

Also at GENERAC HOLDINGS

Erik Wilde

EVP, Industrial, Americas

Kyle Raabe

President, Consumer Power

Norman Taffe

President, Energy Technology

About

Aaron P. Jagdfeld has built a distinguished career at GNRC, establishing himself as a seasoned leader with extensive experience in finance and operations. Starting his career in 1994 in the finance department, he quickly proved his capability and was trusted with increasing levels of responsibility over the years.

Over the course of his tenure at GNRC, he transitioned from vital finance roles to top executive positions, serving as Chief Financial Officer, President, and eventually leading the company as Chief Executive Officer since September 2008. His strategic guidance during critical periods of growth—such as the company’s initial public offering, notable acquisitions, and international expansion—has been a key driver of GNRC’s success.

Beyond his professional achievements, his background in accounting and his early experience at Deloitte and Touche have provided him with a robust foundation in financial management and operational excellence. Now also serving as Chairman since February 2016, his leadership continues to shape the strategic direction of GNRC while fostering innovation and growth throughout the organization.

$GNRC Performance Under Aaron P. Jagdfeld

Past Roles

Organization	Role	Date Range	Details
Generac (GNRC)	President	2007	Responsible for sales, marketing, engineering, and product development
Generac (GNRC)	Chief Financial Officer (CFO)	2002 to 2006	Held the CFO role prior to his current position
Generac (GNRC)	Finance Department Staff	1994 to 2001	Worked in the finance department
Deloitte & Touche, LLP	Audit Practice (Staff)	Prior to joining Generac	Worked in the Milwaukee, Wisconsin office

External Roles

Organization	Role	Date Range	Details
The Hillman Group	Director	Current	Provides complete hardware solutions

Fixed Compensation

Data from FY 2023

Component Name	Amount	Payment Schedule	Additional Details
Base Salary	$1,050,000	Annual (as of Dec 31, 2023)	Remained unchanged from 2022
All Other Compensation	$34,742	Annual	Includes 401(k) Matching ($13,725 ), Executive Physical ($5,000 ), Personal Use of Company Aircraft ($16,017 )

Performance Compensation

Data from FY 2023

Annual Incentive Plan (AIP)

Metric	Weight	Threshold	Target	Actual Result	Bonus Payout	Additional Details
Adjusted EBITDA	75%	$654.6M	$770.2M	$638.7M	0%	Fell below threshold; no payout
Primary Working Capital %	25%	34.4%	32.4%	36.7%	0%	Exceeded threshold; no payout

Bonus Conditions:

Threshold Bonus: 65% of base salary
Target Bonus: 130% of base salary
Maximum Bonus: 260% of base salary

Evaluation Period: Annual (2023)

Grant Details:

Grant Date: March 1, 2023
Approval Date: February 23, 2023
Grant Date Fair Value for performance share awards: $1,998,111
Grant Date Stock Price: $118.24 per share
Exercise/Base Price for option awards: $119.54 per share

Long-Term Incentive Program (LTIP)

Award Component	Grant Date Fair Value	Vesting Schedule	Performance Metrics	Grant Date Stock Price	Exercise Price
Performance Shares	$1,998,111	Vesting contingent on achieving 3-year performance metrics	Revenue Growth, EBITDA Margin, Free Cash Flow Conversion	$118.24	N/A
Restricted Stock	$1,998,111	Vests in three equal installments on the 1st, 2nd, and 3rd anniversaries	N/A	$118.24	N/A
Stock Options	$2,004,001	Vests in four equal installments on the 1st, 2nd, 3rd, and 4th anniversaries	N/A	$118.24	$119.54

Total LTIP Award Value: $6,000,223

Performance Metrics & Goals (LTIP):

Metric Components: Revenue Growth, EBITDA Margin, and Free Cash Flow Conversion
Payout Range: 0% to 200% of target performance share awards based on achievement

Overall Summary:

The AIP for 2023 resulted in 0% bonus payout due to the failure to meet or exceed both Adjusted EBITDA and Primary Working Capital targets.
The LTIP is designed to align long-term compensation with company performance over a three-year period, with awards divided among performance shares, restricted stock, and stock options. Vesting schedules vary by component and are contingent on time and performance.