Enerpac Tool Group Corp. has approved a long-term incentive program for certain executives and key employees, as disclosed in a Form 8-K filed on October 13, 2026. The program is designed to reward the successful completion of the company's acquisition of Specialized Fabrication Equipment Group LLC (SFE Group) and incentivize growth associated with its integration and future activities.

Under the program, the Board of Directors approved performance-vesting restricted stock unit awards (PSU Awards) for four named executive officers. The aggregate grant date dollar-denominated stated value at the target performance level for these awards is as follows:

The PSU Awards were granted under the company's 2017 Omnibus Incentive Plan. Vesting for each officer is contingent upon the company achieving specific financial goals for its 2028 fiscal year. Half of each award will vest based on the achievement of net sales goals, while the other half will vest based on the achievement of adjusted EBITDA goals. Vesting percentages are tiered: 0% at the threshold performance level, 100% at the target performance level, and 200% at the maximum performance level.

Any earned shares under the PSU Awards will vest on the last day of the company's 2028 fiscal year, provided the executive officer remains employed by the company. The awards are subject to accelerated vesting in specific circumstances outlined in the award agreements. Additionally, the PSU Awards and all other awards made under this program will be forfeited without consideration if the SFE Group acquisition does not close on or before November 30, 2026.