Gerben W. Bakker

Chairman of the Board, President, and CEO at HUBBELL

Board

Since October 2020

Age

60 years

Tenure

Joined HUBB in 1988 and advanced from a manufacturing engineer to roles including Group President, President and COO, President and CEO, and finally Chairman, President, and CEO.

Also at HUBBELL

ARF

Alyssa R. Flynn

Chief Human Resources Officer (CHRO)

GAG

Gregory A. Gumbs

President, Utility Solutions Segment

JMDN

Jonathan M. Del Nero

Vice President, Controller

About

Gerben W. Bakker has built a distinguished career at HUBB, beginning his journey in 1988 as a manufacturing engineer with Hubbell Wiring Systems. Over the years, he steadily climbed the ranks, developing an impressive track record in the manufacturing and electrical industry.

His professional progression includes serving as Group President of Hubbell Power Systems, where his leadership contributed to significant growth through strategic acquisitions and operational improvements. His roles as President and Chief Operating Officer, and then as President and Chief Executive Officer, underscored his ability to drive transformative change within the company.

In October 2020, he assumed the role of CEO and later, in May 2021, was promoted to his current position as Chairman, President, and CEO. His leadership has been pivotal in expanding HUBB’s business capabilities and strategic initiatives, further establishing him as a key figure in the industry.

$HUBB Performance Under Gerben W. Bakker

Past Roles

Organization	Role	Date Range	Details
Hubbell Incorporated	President and Chief Executive Officer	October 2020 - May 2021	Held before his current role as Chairman, President, and CEO
Hubbell Incorporated	President and Chief Operating Officer	June 2019 - October 2020	Served prior to his current role
Hubbell Incorporated	President of Hubbell Power Systems	February 2014 - June 2019	Oversaw strong performance, led 12 acquisitions (including Aclara in 2018) and grew net sales from $921 million to $1.8 billion
Hubbell Incorporated	Various roles including Manufacturing Engineer	1988 - 2014	Began his career as a manufacturing engineer with Hubbell Wiring Systems

Fixed Compensation

Data from FY 2023

Component Name	Amount	Payment Schedule	Additional Details
Base Salary	$1,091,231	Annual	Fixed annual base salary
Retirement Plan Contributions	$221,636	According to plan guidelines	Includes $9,900 (401(k) matching), $13,200 (automatic DC Plan contribution), $113,449 (DC Restoration contribution for 2024), and $85,087 (Restoration match)
Perquisites	$17,974	As incurred	Covers incremental costs for financial planning, tax preparation services, and personal aircraft usage (fuel, crew, landing, hangar, parking, ramp, and maintenance fees)

Performance Compensation

Data from FY 2023

STI Award (Short-Term Incentive)

Metric/Detail	Value	Comments
Target Percentage	120% of base salary	Implies a target STI amount of $1,320,000
Award Earned	$2,442,000	Reflects a composite payout of 185%
Performance Metrics	Adjusted EPS, Free Cash Flow, Operating Profit, Operating Cash Flow, Strategic Objectives	EPS & Free Cash Flow achieved 200% and Strategic Objectives 125%
Payment	Cash	Award paid in cash based on performance outcomes
Evaluation Period	2023	Goals set by the Compensation Committee at the start of the year

LTI Award (Long-Term Incentive)

Metric	Threshold Shares	Target Shares	Maximum Shares	Grant Date Fair Value	Evaluation Period	Vesting Schedule	Additional Details
Relative Sales Growth (RSG)	1,967	3,933	7,866	$907,068	1/1/2023–12/31/2025	Vests at end of period	Performance-based award
Adjusted Operating Profit Margin (OPM)	1,909	3,818	7,636	$880,545	1/1/2023–12/31/2025	Vests at end of period	Performance-based award
Relative Total Shareholder Return (TSR)	1,909	3,818	7,636	$1,067,016	1/1/2023–12/31/2025	Vests at end of period	Performance-based award

SARs (Stock Appreciation Rights)

Detail	Value	Additional Details
Number of SARs	22,875
Grant Date	Feb 7, 2023
Grant Date Fair Value	$1,394,918
Exercise/Base Price	$241.17 per share	Based on the mean of the high and low trading prices on the preceding day
Vesting Schedule	Three equal annual installments (Feb 7, 2024; Feb 7, 2025; Feb 7, 2026)	Fully vests upon death, disability, or retirement
Expiration Date	Feb 7, 2033

Restricted Stock (RS)

Detail	Value	Additional Details
Number of Shares	5,784
Grant Date	Feb 7, 2023
Grant Date Fair Value	$1,394,927
Grant Date Stock Price	$241.17 per share	Derived from the mean trading price
Vesting Schedule	3-year cliff (vesting on the anniversary of the grant date)	Not contingent on performance metrics