Timothy S. Nicholls

Timothy S. Nicholls is a seasoned executive at International Paper, joining the company in 1999 after the acquisition of Union Camp Corporation. " " "

Throughout his career at International Paper, he has held several critical leadership roles, ranging from serving as the Vice President and CFO for IP Europe to his tenure as Senior Vice President and Chief Financial Officer. " " "

In June 2018, he resumed his role as Senior Vice President and CFO, a position that underscores his expertise in financial management and his commitment to driving corporate growth and strategic initiatives. " " "

AIP Award

• Amount: $1,516,080 "
• Grant Date: January 1, 2024 "
• Performance Metrics and Weights:
  • Adjusted EBITDA (70%): Achieved $1.986 billion (200% of target; 140% weighted) "
  • Revenue (20%): Achieved $18.618 billion (95.4% of target; 19.1% weighted) "
  • Cash Conversion (10%): Achieved 67.0% (200% of target; 20% weighted) "
• Total Performance Achievement: 179.1% of target "

LTIP Awards

• LTIP RSUs:
  • Shares: 15,970 "
  • Grant Date Fair Value: $577,316 "
  • Grant Date: January 1, 2024 "
• LTIP PSUs:
  • Share Metrics:
    • Threshold: 7,631 shares "
    • Target: 61,050 shares "
    • Maximum: 122,100 shares "
  • Grant Date Fair Value: $2,309,216 "

Performance Share Plan (PSP) Payout

• Performance Metrics:
  • Adjusted ROIC:
    • Threshold: 3.0% (50% payout) " "
    • Target: 5.0% (100% payout) " "
    • Maximum: 8.0% (200% payout) " "
  • Relative TSR:
    • Threshold: 25th percentile (25% payout) " "
    • Target: 50th percentile (100% payout) " "
    • Maximum: 75th percentile (200% payout) " "
• Weights: 50% each " "
• Vesting Schedule: Earned over a three‑year performance period (2024–2026) with payout in early February 2027 " "
• Additional Conditions: Reinvestment of dividends earned on paid shares; MDCC adjustments if negative Adjusted ROIC or TSR "