PAY VERSUS PERFORMANCE

Overview

In accordance with the “Pay Versus Performance” rules adopted by the SEC pursuant to the Dodd-Frank Wall Street Reform and Consumer Protection Act, we are providing the following information about the relationship between compensation actually paid to our executive officers and certain Company financial performance metrics for the fiscal years listed below using a methodology that has been prescribed by the SEC.

													Value of Initial Fixed
													$100 Investment
													Based On:
									Average
									Summary		Average								Adjusted
	Summary		Summary				Compensation		Compensation		Compensation		Total						Earnings
	Compensation		Compensation		Compensation		Actually Paid		Table Total		Actually Paid		Shareholder		Peer				per Share
Fiscal	Table Total for		Table Total for		Actually Paid		to Second		for Non-PEO		to Non-PEO		Return		Group		Company Net		(Adjusted
Year	First PEO¹		Second PEO²		to First PEO^1,4		PEO^2,4		NEOs³		NEOs^3,4		(TSR)		TSR⁵		Income		EPS)⁶

2023	$	3,647,641	$	2,677,153	$	4,225,234	$	2,306,171	$	1,434,053	$	1,862,816	$	130.97	$	164.32	$	92,545,000	$	3.70
2022	N/A		$	5,452,715	N/A		$	5,361,519	$	1,428,876	$	1,405,968	$	91.77	$	126.99	$	82,320,000	$	3.21
2021	N/A		$	4,161,742	N/A		$	3,230,464	$	1,039,962	$	1,215,051	$	95.91	$	146.65	$	63,496,000	$	2.59

1	Bryan H. Sayler has served as the Company’s PEO (Principal Executive Officer) since the second quarter of fiscal 2023.

2	Victor L. Richey served as the Company’s PEO during fiscal 2021, fiscal 2022 and the first quarter of fiscal 2023.

3

The Company’s non-PEO executive officers for fiscal 2022 and 2023 were Christopher L. Tucker, Senior VP & CFO, and David M. Schatz, Senior VP, General Counsel & Secretary. In fiscal 2021, Mr. Tucker succeeded Gary E. Muenster as an executive officer, and Mr. Schatz succeeded Alyson S. Barclay as an executive officer. Accordingly, there were two persons serving as executive officers at all times during these years.

4

The following amounts were deducted from or added to Summary Compensation Table total compensation in accordance with the SEC-mandated adjustments to calculate Compensation Actually Paid to our principal executive officer (PEO) and the average Compensation Actually Paid to our non-PEO executive officers. The fair value of equity awards was determined using methodologies and assumptions developed in a manner substantively consistent with those used to determine the grant date fair value of such awards. In calculating the year-end fair values of equity awards, the assumptions made did not differ materially from the assumptions made in calculating the grant date fair values of such awards.

Adjustments to Determine Compensation Actually Paid to Current CEO (PEO 1)

Current CEO	2021	2022	2023
SCT Total Compensation			$3,647,641
Less Equity Award Values Reported in SCT			($1,492,717)
Plus Fair Value at Fiscal Year-End of Outstanding and Unvested Stock Awards Granted in Fiscal Year			$1,700,271
Change in Fair Value of Outstanding and Unvested Stock Awards Granted in Prior Fiscal Years			$325,125
Plus Fair Value at Vesting of Stock Awards Granted in Fiscal Year That Vested During Fiscal Year			$0
Plus Change in Fair Value as of Vesting Date of Stock Awards Granted in Prior Fiscal Years For Which Applicable Vesting Conditions Were Satisfied During Fiscal Year			$44,914
Less Fair Value as of Prior Fiscal Year-End of Stock Awards Granted in Prior Fiscal Years That Failed to Meet Applicable Vesting Conditions During Fiscal Year			$0
Plus Dividends or Other Earnings Paid on Stock Awards in the Fiscal Year Prior to the Vesting Date that are not otherwise included in the Total Compensation for the Fiscal Year			$0
Compensation Actually Paid (CAP)			$4,225,234

Adjustments to Determine Compensation Actually Paid to Former CEO (PEO 2)

Former CEO	2021	2022	2023
SCT Total Compensation	$4,161,742	$5,452,715	$2,677,153
Less Equity Award Values Reported in SCT	($2,462,845)	($2,963,694)	($1,499,967)
Plus Fair Value at Fiscal Year-End of Outstanding and Unvested Stock Awards Granted in Fiscal Year	$1,714,174	$2,813,301	$0
Change in Fair Value of Outstanding and Unvested Stock Awards Granted in Prior Fiscal Years	($182,607)	($159,075)	$338,042
Plus Fair Value at Vesting of Stock Awards Granted in Fiscal Year That Vested During Fiscal Year	$0	$0	$1,786,685
Change in Fair Value as of Vesting Date of Stock Awards Granted in Prior Fiscal Years For Which Applicable Vesting Conditions Were Satisfied During Fiscal Year	$0	$218,272	$1,015,817
Less Fair Value as of Prior Fiscal Year-End of Stock Awards Granted in Prior Fiscal Years That Failed to Meet Applicable Vesting Conditions During Fiscal Year	$0	$0	($2,011,558)
Plus Dividends or Other Earnings Paid on Stock Awards in the Fiscal Year Prior to the Vesting Date that are not otherwise included in the Total Compensation for the Fiscal Year	$0	$0	$0
Compensation Actually Paid (CAP)	$3,230,464	$5,361,519	$ 2,306,171

Adjustments to Determine Compensation Actually Paid to Non-PEO NEOs

Average Compensation	2021	2022	2023
SCT Total Compensation	$1,039,962	$1,428,876	$1,434,053
Less Equity Award Values Reported in SCT	($257,270)	($543,430)	($576,795)
Plus Fair Value at Fiscal Year-End of Outstanding and Unvested Stock Awards Granted in Fiscal Year	$179,064	$517,034	$645,518
Change in Fair Value of Outstanding and Unvested Stock Awards Granted in Prior Fiscal Years	($23,168)	($15,413)	$332,101
Plus Fair Value at Vesting of Stock Awards Granted in Fiscal Year That Vested During Fiscal Year	$0	$0	$0
Plus Change in Fair Value as of Vesting Date of Stock Awards Granted in Prior Fiscal Years For Which Applicable Vesting Conditions Were Satisfied During Fiscal Year	$276,464	$18,900	$27,940
Less Fair Value as of Prior Fiscal Year-End of Stock Awards Granted in Prior Fiscal Years That Failed to Meet Applicable Vesting Conditions During Fiscal Year	$0	$0	$0
Plus Dividends or Other Earnings Paid on Stock Awards in the Fiscal Year Prior to the Vesting Date that are not otherwise included in the Total Compensation for the Fiscal Year	$0	$0	$0
Compensation Actually Paid (CAP)	$1,215,051	$1,405,968	$1,862,816

5

The Peer Group TSR set forth in this table utilizes the S&P SmallCap 600 Industrials Index, which we also utilize in the stock performance graph required by Item 201(e) of Regulation S-K included in our Annual Report for the year ended September 30, 2023. The comparison assumes $100 was invested for the period starting September 30, 2020 through September 30, 2023 in the Company and in the S&P SmallCap 600 Industrials Index, respectively. Historical stock performance is not necessarily indicative of future stock performance.

6

We determined Adjusted EPS to be the most important financial performance measure used to link Company performance to Compensation Actually Paid to our PEO and the other executive officers in 2023. Fiscal 2023 Adjusted EPS of $3.70 equaled GAAP diluted EPS of $3.58 excluding $0.12 per share of after-tax charges consisting of executive management transition costs, acquisition inventory step-up charges, restructuring charges, and acquisition related costs. See the Compensation Discussion and Analysis section of this Proxy Statement. This performance measure may not have been the most important financial performance measure for fiscal years 2022 and 2021 and we may determine a different financial performance measure to be the most important financial performance measure in future years.

Named Executive Officers, Footnote

Bryan H. Sayler has served as the Company’s PEO (Principal Executive Officer) since the second quarter of fiscal 2023.

2	Victor L. Richey served as the Company’s PEO during fiscal 2021, fiscal 2022 and the first quarter of fiscal 2023.

3

The Company’s non-PEO executive officers for fiscal 2022 and 2023 were Christopher L. Tucker, Senior VP & CFO, and David M. Schatz, Senior VP, General Counsel & Secretary. In fiscal 2021, Mr. Tucker succeeded Gary E. Muenster as an executive officer, and Mr. Schatz succeeded Alyson S. Barclay as an executive officer. Accordingly, there were two persons serving as executive officers at all times during these years.

Adjustment To PEO Compensation, Footnote

The following amounts were deducted from or added to Summary Compensation Table total compensation in accordance with the SEC-mandated adjustments to calculate Compensation Actually Paid to our principal executive officer (PEO) and the average Compensation Actually Paid to our non-PEO executive officers. The fair value of equity awards was determined using methodologies and assumptions developed in a manner substantively consistent with those used to determine the grant date fair value of such awards. In calculating the year-end fair values of equity awards, the assumptions made did not differ materially from the assumptions made in calculating the grant date fair values of such awards.

Adjustments to Determine Compensation Actually Paid to Current CEO (PEO 1)

Current CEO	2021	2022	2023
SCT Total Compensation			$3,647,641
Less Equity Award Values Reported in SCT			($1,492,717)
Plus Fair Value at Fiscal Year-End of Outstanding and Unvested Stock Awards Granted in Fiscal Year			$1,700,271
Change in Fair Value of Outstanding and Unvested Stock Awards Granted in Prior Fiscal Years			$325,125
Plus Fair Value at Vesting of Stock Awards Granted in Fiscal Year That Vested During Fiscal Year			$0
Plus Change in Fair Value as of Vesting Date of Stock Awards Granted in Prior Fiscal Years For Which Applicable Vesting Conditions Were Satisfied During Fiscal Year			$44,914
Less Fair Value as of Prior Fiscal Year-End of Stock Awards Granted in Prior Fiscal Years That Failed to Meet Applicable Vesting Conditions During Fiscal Year			$0
Plus Dividends or Other Earnings Paid on Stock Awards in the Fiscal Year Prior to the Vesting Date that are not otherwise included in the Total Compensation for the Fiscal Year			$0
Compensation Actually Paid (CAP)			$4,225,234

Adjustments to Determine Compensation Actually Paid to Former CEO (PEO 2)

Former CEO	2021	2022	2023
SCT Total Compensation	$4,161,742	$5,452,715	$2,677,153
Less Equity Award Values Reported in SCT	($2,462,845)	($2,963,694)	($1,499,967)
Plus Fair Value at Fiscal Year-End of Outstanding and Unvested Stock Awards Granted in Fiscal Year	$1,714,174	$2,813,301	$0
Change in Fair Value of Outstanding and Unvested Stock Awards Granted in Prior Fiscal Years	($182,607)	($159,075)	$338,042
Plus Fair Value at Vesting of Stock Awards Granted in Fiscal Year That Vested During Fiscal Year	$0	$0	$1,786,685
Change in Fair Value as of Vesting Date of Stock Awards Granted in Prior Fiscal Years For Which Applicable Vesting Conditions Were Satisfied During Fiscal Year	$0	$218,272	$1,015,817
Less Fair Value as of Prior Fiscal Year-End of Stock Awards Granted in Prior Fiscal Years That Failed to Meet Applicable Vesting Conditions During Fiscal Year	$0	$0	($2,011,558)
Plus Dividends or Other Earnings Paid on Stock Awards in the Fiscal Year Prior to the Vesting Date that are not otherwise included in the Total Compensation for the Fiscal Year	$0	$0	$0
Compensation Actually Paid (CAP)	$3,230,464	$5,361,519	$ 2,306,171