Latham Group (SWIM) Proxy Filing summary

Executive summary

• Outperformed the U.S. in-ground pool market in 2024, expanding margins despite lower utilization and investing for future growth, especially in fiberglass pools and automatic safety covers.

• Acquired Coverstar Central in August 2024, expanding the dealer network and product adoption opportunities.

• Focused on growth in the Sand States (FL, TX, AZ, CA), which represent two-thirds of U.S. new pool starts and 17% of 2024 fiberglass sales.

• Ended 2024 with $56 million in cash, providing financial flexibility for continued growth.

• Entering 2025 with a strong competitive position, expecting continued market outperformance.

Voting matters and shareholder proposals

• Stockholders will vote on the election of three Class I directors for three-year terms and the ratification of Deloitte & Touche LLP as independent auditor for 2025.

• Board recommends voting FOR all director nominees and FOR auditor ratification.

• No other matters are expected to be presented at the meeting.

Board of directors and corporate governance

• Board consists of eight members divided into three staggered classes, with seven independent directors.

• Fully independent Audit, Compensation, and Nominating and Corporate Governance Committees.

• Board diversity goals met, with at least two diverse members and a commitment to representation.

• Board and committees conduct annual self-evaluations and regular executive sessions.

• No dual-class stock, poison pill, or director overboarding; strong stockholder engagement practices.