SPX TECHNOLOGIES INC (SPXC)
Sector: Industrials
2026 Annual Meeting Analysis
SPX TECHNOLOGIES INC · Meeting: May 12, 2026
Directors FOR
3
Directors AGAINST
0
Say on Pay
FOR
Auditor
FOR
Director Elections
Election of Directors
Director since 2015 with strong financial expertise; SPXC's 3-year total shareholder return of 195.1% outperforms the peer group median by +96.9 percentage points, well above the 65-point threshold needed to trigger a vote against, and no overboarding, attendance, or independence issues are present.
Director since 2019 with deep CFO-level financial expertise; SPXC's strong outperformance vs. peers clears the TSR trigger threshold by a wide margin, and no other policy flags apply.
Director since 2015 with relevant industrial engineering and manufacturing expertise; SPXC's 3-year TSR vastly outperforms the peer group median, and no overboarding, attendance, or independence concerns are present.
All three nominees pass the TSR performance screen — SPXC's 3-year return of 195.1% beats the peer group median by +96.9 percentage points, far exceeding the 65-point threshold for a strong-positive-TSR company. No director has attendance issues, overboarding concerns, independence problems, or other policy flags. All three nominees are recommended FOR.
Say on Pay
✓ FORCEO
Eugene J. Lowe, III
Total Comp
$9,338,813
Prior Support
95%%
The prior year Say on Pay received approximately 95% shareholder support, well above the 70% threshold that would require visible remediation. CEO total compensation of $9.3 million is in a reasonable range for a CEO of a $10 billion industrial company with a 3-year total shareholder return of 195%, and the pay mix is heavily performance-based — the proxy states over 80% of CEO pay is variable and at risk, well above the 50-60% minimum threshold. The performance share awards vested at 150% of target based on an 89th-percentile relative TSR ranking, directly demonstrating pay-for-performance alignment, and a meaningful clawback policy covering both cash and equity is in place.
Auditor Ratification
✓ FORAuditor
Deloitte & Touche LLP
Tenure
23 yrs
Audit Fees
$3,599,626
Non-Audit Fees
$100,350
Non-audit fees (audit-related fees of $35,410 plus tax fees of $64,940, totaling $100,350) represent approximately 2.8% of audit fees of $3,599,626 — well below the 50% threshold that would raise independence concerns. Deloitte has served as auditor since 2002, giving it roughly 23 years of tenure, which is below the 25-year threshold that would trigger a no vote. No material restatements are disclosed, and Deloitte is a Big 4 firm appropriate for a $10 billion company.
Overall Assessment
SPX Technologies' 2026 annual meeting presents a clean ballot with no significant governance concerns: all three director nominees benefit from exceptional 3-year stock performance that far outpaces peers, the executive compensation program is heavily performance-based with strong shareholder support history, and the auditor's non-audit fee ratio is minimal with tenure below the policy threshold. All four votes — three director elections, Say on Pay, and auditor ratification — are recommended FOR.
Compensation Peer Group
18 companies disclosed in 2026 proxy filing