A meeting of the Compensation Committee of the Board of Trustees convened at 9:46 a.m. on Friday, February 4, 2022, in Room 326 of Stewart Center on the campus of Purdue University in West Lafayette, Indiana. Everyone in the room was wearing a mask amid the ongoing COVID-19 pandemic.

All committee members were present: Malcolm DeKryger, chair; Michael Klipsch (virtually); Gary Lehman; and Don Thompson (virtually). All other trustees were present: Sonny Beck (virtually); Michael Berghoff; JoAnn Brouillette; Theresa Carter; Vanessa Castagna (virtually); and Mark Gee (virtually).

Officers and administrators in attendance were: Mitch Daniels, president; Jay Akridge, provost and executive vice president for academic affairs and diversity; Chris Ruhl, chief financial officer and treasurer; Jim Almond, senior vice president, assistant treasurer, and assistant secretary; Steve Schultz, general counsel; Janice Indrutz, corporate secretary and senior executive assistant to the Board; Ron Elsenbaumer, chancellor, Purdue Fort Wayne (virtually); and Tom Keon, chancellor, Purdue Northwest (virtually).

I. APPROVAL OF MINUTES

Upon proper motion made and duly seconded, the Compensation Committee voted unanimously to approve the minutes of its last meeting convened on December 3, 2021, and executive sessions convened on December 15, 2021, and January 5, 2022.

II. ADOPTION OF PRESIDENTIAL PERFORMANCE METRICS FOR 2021-2022

Trustee DeKryger reminded everyone that one-third of President Daniels’ salary was considered at-risk and based on a number of different metrics in the areas of student affordability, student success, fundraising, and operations. He said there were a few changes to the metrics this year and pointed out that 11% of President Daniels’ at-risk pay would be based on metrics reflective of the university’s Equity Task Force initiative.

Upon proper motion duly made and seconded, the Compensation Committee voted unanimously to approve the presidential performance metrics for 2021-2022, a copy of which were included with the minutes.

III. ADJOURNMENT

By consent, the meeting adjourned at 9:50 a.m.