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    Curtis L. Begle

    Chief Executive Officer at Magnera Corp
    Board
    Since February 6, 2024
    Age
    48 years
    Education
    Earned a bachelor's degree in business administration from the University of Evansville and a master's degree in business administration from the University of Southern Indiana.
    Tenure
    Began his career at Berry Global in 1999 and advanced through multiple leadership roles before assuming the role of CEO at MAGN effective February 6, 2024.
    Other Roles
    Board of Directors, Flexible Packaging Association (Member since 2016, Chair from 2019-2021); Board of Directors, Deaconess Health Systems (Member since 2019); Board of Trustees, University of Evansville (Member since 2019); Chairman, Evansville Regional Economic Partnership (Since 2016); Evansville Promise Neighborhood Sustainability Council (Appointed Member)

    Also at Magnera Corp

    JMT
    James M. Till
    Chief Financial Officer (CFO)
    JLU
    Jill L. Urey
    Executive Vice President, General Counsel, and Corporate Secretary

    About

    Curtis L. Begle is a 48-year-old executive with a robust professional background and deep community ties in Evansville, Indiana.

    Holds a bachelor's degree in business administration from the University of Evansville and a master's degree in business administration from the University of Southern Indiana, providing a solid foundation for his extensive leadership roles.

    Beginning his career at Berry Global in 1999, he progressed through key positions including President of the Rigid Closed Top Division and the Engineered Materials Division, eventually leading a $3.4 billion global business in Health, Hygiene & Specialties before assuming his current role as CEO at MAGN on February 6, 2024.

    In addition to his corporate achievements, he actively serves on multiple boards and industry organizations, contributing his expertise to both community initiatives and industry advocacy.

    $MAGN Performance Under Curtis L. Begle

    Fixed Compensation

    Data from  FY 2024
    Component NameAmountPayment ScheduleAdditional Details
    Base Salary$1,000,000 AnnualAnnual base salary of $1,000,000
    Non-Change in Control Severance Benefits$1,000,000 (Base Salary) + $1,000,000 (Bonus) Triggered upon non-change in control termination eventIncludes a one-time severance payment equal to base salary and bonus, healthcare continuation coverage equal to 12 months, and eligibility for a prorated target bonus
    Change in Control Severance Benefits$2,000,000 (Base Salary) + $2,000,000 (Bonus) Triggered upon change in control eventIncludes a one-time severance payment equal to two times base salary and bonus, healthcare continuation coverage equal to 24 months, and eligibility for a prorated target bonus

    Performance Compensation

    Data from  FY 2024

    Performance Share Units (PSUs) for 2024

    MetricThreshold (Payout %)Target (Payout %)Maximum (Payout %)Additional Details
    Adjusted EBITDA60% (20% payout) 100% (assumed) N/A140% (200% payout) Based on cumulative financial performance over a 2-year period plus an additional 1-year service period
    Net Leverage3.0x (50% payout) 2.25x (assumed) N/A1.5x (200% payout) Critical financial metric performance
    Relative TSR25th percentile (50% payout) 50th percentile (assumed) N/A75th percentile (200% payout) Evaluates the 3-year total shareholder return relative to a broad market index
    Vesting ScheduleN/AN/AN/APSUs vest at the end of a 3-year period contingent upon continued employment
    Grant DateN/AN/AN/AGranted on December 16, 2024
    Number of PSUsN/AN/AN/A182,636 PSUs granted