Nicholas T. Pinchuk

Chairman, President, and CEO at Snap-on

Board

Since December 2007

Age

78 years

Education

Earned Master and Bachelor of Science degrees in Engineering from Rensselaer Polytechnic Institute and a Master of Business Administration from Harvard Business School.

Tenure

Joined SNA in 2002 as Senior Vice President and President of the Worldwide Commercial & Industrial Group, later serving as President and Chief Operating Officer in 2007, and then becoming President, Chief Executive Officer in December 2007 and Chairman in 2009.

Also at Snap-on

AJP

Aldo J. Pagliari

Senior Vice President – Finance and CFO

Iain Boyd

Vice President – Operations Development

JMA

Jesus M. Arregui

Senior Vice President and President of the Commercial Group

About

Nicholas T. Pinchuk has built a diverse career marked by leadership roles both before and after joining SNA. Prior to his tenure with the company, he held several pivotal positions at Carrier Corporation under United Technologies, including roles as President of Global Refrigeration Operations and President of Asia Pacific Operations, while also contributing as an officer in the U.S. Army during the Vietnam conflict.

His professional journey has been characterized by a steady progression through increasingly strategic and operational roles, reflecting a commitment to excellence and innovation. At SNA, his influence grew rapidly, culminating in top executive positions that have steered the company through significant growth and change.

Beyond his corporate responsibilities, his career is distinguished by a blend of technical expertise and broad operational experience. His leadership continues to be instrumental in shaping SNA's strategic direction and operational efficiency, providing a solid foundation for future advancements.

$SNA Performance Under Nicholas T. Pinchuk

Past Roles

Organization	Role	Date Range	Details
Snap-on Incorporated	President and Chief Operating Officer	2007	Held in 2007 prior to becoming Chairman, President, and CEO
Snap-on Incorporated	Senior Vice President and President – Worldwide Commercial & Industrial Group	2002 to 2007	Held from 2002 to 2007
Carrier Corporation (subsidiary of United Technologies Corporation)	President of Global Refrigeration Operations	N/A	Role held before joining SNA
Carrier Corporation (subsidiary of United Technologies Corporation)	President of Asia Pacific Operations	N/A	Role held before joining SNA
Ford Motor Company	Various financial and engineering positions	N/A	Held before joining SNA

Fixed Compensation

Data from FY 2023

Component Name	Amount	Payment Schedule	Additional Details
Salary	$1,142,473	Annual	Fixed base salary
Company Matching Contributions to 401(k) Plan	$9,900	Annual	Part of All Other Compensation
Company Matching Contributions to Deferred Compensation Plan	$76,535	Annual	Part of All Other Compensation
Dividend Equivalents on Vested Stock Awards	$234,837	Annual	Part of All Other Compensation
All Other Compensation Total	$321,272	Annual	Sum of the above components

Performance Compensation

Data from FY 2023

Non-Equity Incentive Plan Compensation

Metric	Dollar Amount/Percentage	Details
Threshold	$385,585	25% of target; cash-based plan
Target	$1,542,339	135% of base salary; establishes payout benchmark
Maximum	$3,084,678	200% of target; cap for payout
Weighting (Financial Results)	50%	Based on operating income & RONAEBIT; requires meeting WACC
Weighting (Strategic Business Goals)	50%	Based on personal strategic objectives such as van channel enhancement and market expansion
Actual Payout (Financial)	117.5%	Operating income increased by 11.9% and RONAEBIT achieved 37.6%, resulting in payout between target and maximum
Actual Payout (Strategic)	116.0%	Payout based on achievement of personal strategic goals
Vesting Schedule	None	Cash-based payout with no vesting; paid at fiscal year-end

Stock Awards

Metric	Dollar Amount/Share/Unit	Details
PSUs Threshold	25% of target	Performance-based on revenue growth & RONAEBIT
PSUs Target	100% of target	Target fair value of $4,148,933 at grant ; granted 16,645 units
PSUs Maximum	200% of target	Actual performance reached 200% (RONAEBIT 36.3% and revenues $4,730M)
RSUs Units	5,549 units	Granted with a fair value of $1,383,144; vest on a three-year cliff
Vesting Schedule	PSUs: Vests after the three-year performance period; RSUs: 3-year cliff	Performance period spans 2023-2025

Option Awards

Metric	Dollar Amount/Unit	Details
Grant Date Fair Value	$1,323,023	For Option Awards as of 2023
Grant Date Stock Price (Exercise Price)	$249.26	Based on the closing price on February 9, 2023
Options Granted	24,295 options	Granted under the 2011 Plan on February 9, 2023 ; vest in three annual increments starting February 9, 2024
Expiration Date	February 9, 2033	Options expire 10 years from the grant date
Vesting Schedule	Three annual increments	First vesting occurs on the first anniversary (February 9, 2024)