LEAR CORP files DEF 14A for fiscal year ending 2024-05-16

Ticker: LEA · Form: DEF 14A · Filed: Apr 3, 2024 · CIK: 842162

Lear Corp DEF 14A Filing Summary
FieldDetail
CompanyLear Corp (LEA)
Form TypeDEF 14A
Filed DateApr 3, 2024
Risk Levellow
Pages15
Reading Time18 min
Key Dollar Amounts$2 billion, $1 billion, $23.5 billion, $313 million, $182 million
Sentimentneutral

Sentiment: neutral

Topics: DEF 14A, LEAR CORP, Proxy Statement, Executive Compensation, Corporate Governance

TL;DR

<b>LEAR CORP has filed its DEF 14A proxy statement for the fiscal year ending May 16, 2024.</b>

AI Summary

LEAR CORP (LEA) filed a Proxy Statement (DEF 14A) with the SEC on April 3, 2024. LEAR CORP filed a DEF 14A on 2024-04-03. The filing covers the fiscal year ending 2024-05-16. The company's principal executive offices are located at 21557 Telegraph Road, Southfield, MI 48033. LEAR CORP's SIC code is 3714 for Motor Vehicle Parts & Accessories. The filing includes data for fiscal years 2020 through 2023.

Why It Matters

For investors and stakeholders tracking LEAR CORP, this filing contains several important signals. This DEF 14A filing provides detailed information on executive compensation, director nominations, and other corporate governance matters for LEAR CORP. Investors can use this filing to understand how executive pay is structured and how the company is managed, which can influence investment decisions.

Risk Assessment

Risk Level: low — LEAR CORP shows low risk based on this filing. The filing is a routine DEF 14A, which is standard for public companies and does not contain new material financial or operational information that would significantly alter risk assessment.

Analyst Insight

Review the executive compensation details and any proposed shareholder resolutions to assess management's alignment with shareholder interests.

Key Numbers

  • 2024-04-03 — Filing Date (CONFORMED SUBMISSION TYPE)
  • 2024-05-16 — Period of Report (CONFORMED PERIOD OF REPORT)
  • 1934 Act — SEC Act (SEC ACT)
  • 001-11311 — SEC File Number (SEC FILE NUMBER)
  • 24818817 — Film Number (FILM NUMBER)
  • 2023-12-31 — Fiscal Year End (FISCAL YEAR END)

Key Players & Entities

  • LEAR CORP (company) — FILER
  • 21557 TELEGRAPH ROAD (address) — BUSINESS ADDRESS
  • SOUTHFIELD (city) — BUSINESS ADDRESS
  • MI (state) — BUSINESS ADDRESS
  • 48033 (zip_code) — BUSINESS ADDRESS
  • MOTOR VEHICLE PARTS & ACCESSORIES (industry) — STANDARD INDUSTRIAL CLASSIFICATION

FAQ

When did LEAR CORP file this DEF 14A?

LEAR CORP filed this Proxy Statement (DEF 14A) with the SEC on April 3, 2024.

What is a DEF 14A filing?

A DEF 14A is a definitive proxy statement sent to shareholders before annual meetings, covering executive compensation, board nominations, and shareholder votes. This particular DEF 14A was filed by LEAR CORP (LEA).

Where can I read the original DEF 14A filing from LEAR CORP?

You can access the original filing directly on the SEC's EDGAR system. The filing is publicly available and includes all exhibits and attachments submitted by LEAR CORP.

What are the key takeaways from LEAR CORP's DEF 14A?

LEAR CORP filed this DEF 14A on April 3, 2024. Key takeaways: LEAR CORP filed a DEF 14A on 2024-04-03.. The filing covers the fiscal year ending 2024-05-16.. The company's principal executive offices are located at 21557 Telegraph Road, Southfield, MI 48033..

Is LEAR CORP a risky investment based on this filing?

Based on this DEF 14A, LEAR CORP presents a relatively low-risk profile. The filing is a routine DEF 14A, which is standard for public companies and does not contain new material financial or operational information that would significantly alter risk assessment.

What should investors do after reading LEAR CORP's DEF 14A?

Review the executive compensation details and any proposed shareholder resolutions to assess management's alignment with shareholder interests. The overall sentiment from this filing is neutral.

How does LEAR CORP compare to its industry peers?

LEAR CORP operates in the automotive industry, specifically as a supplier of automotive technology and services.

Are there regulatory concerns for LEAR CORP?

The filing is made under the Securities Exchange Act of 1934, which governs the reporting requirements for public companies.

Industry Context

LEAR CORP operates in the automotive industry, specifically as a supplier of automotive technology and services.

Regulatory Implications

The filing is made under the Securities Exchange Act of 1934, which governs the reporting requirements for public companies.

What Investors Should Do

  1. Analyze the compensation packages for named executive officers.
  2. Review any proposals submitted for shareholder vote.
  3. Examine the board of directors' structure and independence.

Year-Over-Year Comparison

This is the initial DEF 14A filing for the period ending May 16, 2024, and no prior filing for this specific period is available for direct comparison.

Filing Stats: 4,390 words · 18 min read · ~15 pages · Grade level 17 · Accepted 2024-04-03 16:12:26

Key Financial Figures

  • $2 billion — gain market share in Seating with over $2 billion in conquest wins since 2019. In 2023, w
  • $1 billion — rogram. In E-Systems, we won more than $1 billion of new business awards for the third co
  • $23.5 billion — rformance Achieved record revenues of $23.5 billion Serve all of the world's major automoti
  • $313 million — he eighth consecutive year Repurchased $313 million of shares and paid $182 million in divi
  • $182 million — rchased $313 million of shares and paid $182 million in dividends 2024 Proxy Statement |

Filing Documents

Security Ownership of Certain Beneficial Owners, Directors and Management

Security Ownership of Certain Beneficial Owners, Directors and Management 29 Delinquent Section 16(a) Reports 30 COMPENSATION DISCUSSION AND ANALYSIS ("CD&A") 31 CD&A Executive Summary 32 Decision-Making Framework 35 What We Pay and Why: Elements of Executive Compensation 40 2023 Performance Results and Compensation Decisions 43 Other Pay Elements 51 Governance Policies and Practices 52

EXECUTIVE COMPENSATION TABLES

EXECUTIVE COMPENSATION TABLES 55 P&C COMMITTEE INTERLOCKS AND INSIDER PARTICIPATION 76 P&C COMMITTEE REPORT 77 AUDIT COMMITTEE REPORT 78 FEES OF INDEPENDENT ACCOUNTANTS 80 CERTAIN RELATIONSHIPS AND RELATED PARTY TRANSACTIONS 81 RATIFICATION OF RETENTION OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM FOR 2024 (PROPOSAL NO. 2) 82 ADVISORY VOTE TO APPROVE THE COMPANY'S EXECUTIVE COMPENSATION SET FORTH IN THIS PROXY STATEMENT (PROPOSAL NO. 3) 83 QUESTIONS AND ANSWERS ABOUT THE ANNUAL MEETING 84 SHAREHOLDER PROPOSALS FOR 2025 ANNUAL MEETING OF SHAREHOLDERS 88 OTHER MATTERS 89 APPENDIX A RECONCILIATION OF NON-GAAP FINANCIAL MEASURES 90 2024 Proxy Statement | i Table of Contents PROXY SUMMARY LEAR CORPORATION 2024 PROXY STATEMENT SUMMARY This summary highlights information that is contained elsewhere in this proxy statement by Lear Corporation (the "Company," "Lear," "we," "our" or "us"). It does not include all of the information necessary to make a voting decision, and you should carefully read this proxy statement in its entirety before casting your vote. Please see the section "Questions and Answers" beginning on page 84 for important information about proxy materials, voting, the Annual Meeting, the Company, documents and communications. Annual Meeting of Shareholders Proxy Voting Roadmap Shareholders will be asked to vote on the following matters at the Annual Meeting. This section does not contain all of the information that you should consider in deciding how to vote. You should read the entirety of this proxy statement carefully before voting. Voting Matter Board Vote Recommendation Page Reference Item 1 Election of Directors FOR all ten director nominees 10 Item 2 Ratification of Retention of Independent Registered Public Accounting Firm FOR 82 Item 3 Advisory Vote to Approve the Company's Executive Compensation FOR 83 2024 Proxy Statement | 1 Table of Contents PROXY SUMMARY Lear at a Glan

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