Moog board approves deferred compensation plan for select employees

Moog Inc. (NYSE:MOG.A, NYSE:MOG.B) announced that its board of directors approved a new Non-Qualified Deferred Compensation Plan for certain management and highly compensated employees. The decision was made Monday, according to a statement in a Securities and Exchange Commission filing.

The plan is scheduled to become effective on January 1, 2026. It allows eligible employees, as determined by the board’s Executive Compensation Committee, to defer up to 75% of their annual base salary and up to 75% of their incentive or bonus compensation each year. The committee may adjust these limits annually.

Deferred amounts will be credited to individual accounts for each participant and will remain fully vested at all times. The company may choose to make additional contributions to participant accounts, which may be subject to a vesting schedule, but is not required to do so.

According to the filing, distributions from the plan will generally be made as a lump sum upon an employee’s separation from service, unless the employee has elected to receive payments in installments or on a scheduled date. Distributions will also be made in the event of a change in control of the company or upon the participant’s death.

The plan is intended to comply with Section 409A of the Internal Revenue Code and is classified as a “top hat” plan under the Employee Retirement Income Security Act, which is limited to a select group of management or highly compensated employees.

Moog Inc. is based in East Aurora, New York, and its Class A and Class B common stock are traded on the New York Stock Exchange under the symbols MOG.A and MOG.B. The information is based on a press release statement included in the company’s SEC filing.

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