nVent Electric (NVT) Proxy Filing summary

Executive summary

• Achieved 13% sales growth to $3 billion in 2024, with margin expansion, strong earnings, and robust cash flows; completed the sale of the Thermal Management business and acquired Trachte, focusing on high-growth electrical solutions.

• Launched 90 new products, with Data Solutions portfolio growing 30% due to AI and high-performance computing demand; renamed business segments to Systems Protection and Electrical Connections in Q1 2025.

• Returned $227 million to shareholders via dividends and share repurchases; 17% annualized TSR as of December 31, 2024, outperforming the S&P 400 MidCap Industrials Index.

• Recognized for sustainability and ethics, including Ethisphere’s World’s Most Ethical Companies and a silver EcoVadis rating.

Voting matters and shareholder proposals

• Shareholders to vote on election of nine director nominees, advisory approval of executive compensation, frequency of say-on-pay votes, ratification of Deloitte & Touche LLP as auditor, and several Irish law share authorization proposals.

• Board recommends annual say-on-pay votes and supports all proposals.

• Shareholder engagement included outreach to holders of over 50% of shares, with 23% participating; topics included sustainability, board diversity, risk oversight, and executive compensation.

Board of directors and corporate governance

• Board consists of nine members, eight of whom are independent; four women and five racially/ethnically diverse members.

• Committees: Audit and Finance, Compensation and Human Capital, Governance and Sustainability—all comprised of independent directors.

• Board and committee self-assessments conducted annually; directors subject to stock ownership guidelines and limits on outside board service.

• Lead Director role held by an independent director; Board regularly reviews governance principles and succession planning.