Kronos Worldwide, Inc.

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

SCHEDULE 14A

Proxy Statement Pursuant to Section 14(a) of the

Securities Exchange Act of 1934


Filed by Registrant:	⌧
Filed by a Party other than the Registrant:	◻

Check the appropriate box:

◻Preliminary Proxy Statement

◻	Confidential, for Use of the Commission Only (as permitted by Rule 14a-6(e)(2))

⌧Definitive Proxy Statement

◻	Definitive Additional Materials

◻	Soliciting Material Pursuant to § 240.14a-12

Kronos Worldwide, Inc.

(Name of Registrant as Specified in Its Charter)

(Name of Person(s) Filing Proxy Statement, if other than the Registrant)

Payment of Filing Fee (Check the appropriate box):

⌧	No fee required.

◻	Fee paid previously with preliminary materials.

◻	Fee computed on table in exhibit required by Item 25(b) per Exchange Act Rules 14a-6(i)(1) and 0-11.

Table of Contents

	BJ Freeway, Suite 1700 -2620

March 24, 2026

To Our Stockholders:

You are cordially invited to attend the 2026 annual meeting of stockholders of Kronos Worldwide, Inc., which will be held on Wednesday, May 13, 2026, at 10:00 a.m., local time, at Three Lincoln Centre Conference Center, 5430 LBJ Freeway, Suite 350, Dallas, Texas 75240-2620. The matters to be acted upon at the meeting are described in the attached notice of annual meeting of stockholders and proxy statement.

Whether or not you plan to attend the meeting, please cast your vote as instructed on your notice of internet availability of proxy materials or, if you have requested a paper copy, on the proxy card or voting instruction form, as promptly as possible to ensure that your shares are represented and voted in accordance with your wishes. Your vote, whether given by proxy or in person at the meeting, will be held in confidence by the inspector of election as provided in our bylaws.

	Sincerely,



	Loretta J. Feehan
	Chair of the Board



	Brian W. Christian
	President and Chief Executive Officer

Table of Contents

Kronos Worldwide, Inc.

Three Lincoln Centre

5430 LBJ Freeway, Suite 1700

Dallas, Texas 75240-2620

NOTICE OF ANNUAL MEETING OF STOCKHOLDERS

To Be Held May 13, 2026

To the Stockholders of Kronos Worldwide, Inc.:

The 2026 annual meeting of stockholders of Kronos Worldwide, Inc. will be held on Wednesday, May 13, 2026, at 10:00 a.m., local time, at Three Lincoln Centre Conference Center, 5430 LBJ Freeway, Suite 350, Dallas, Texas 75240-2620 for the following purposes:

to elect the eight director nominees named in the proxy statement to serve until the 2027 annual meeting of stockholders;

to approve on a nonbinding advisory basis our named executive officer compensation; and

to transact such other business as may properly come before the meeting or any adjournment or postponement thereof.

The close of business on March 17, 2026 has been set as the record date for the meeting. Only holders of our common stock at the close of business on the record date are entitled to notice of and to vote at the meeting. A complete list of stockholders entitled to vote at the meeting will be available for examination during normal business hours by any of our stockholders, for purposes related to the meeting, for a period of ten days prior to the meeting at our corporate offices.

You are cordially invited to attend the meeting. Whether or not you plan to attend the meeting, please cast your vote by following the instructions on the notice of internet availability of proxy materials or, if you have requested a paper copy, on the proxy card or voting instruction form, as promptly as possible to ensure that your shares are represented and voted in accordance with your wishes.

	By Order of the Board of Directors,

	Jane R. Grimm, Secretary

Dallas, Texas

March 24, 2026

Important Notice Regarding the Availability of Proxy Materials for the

Annual Stockholder Meeting to Be Held on May 13, 2026.

The proxy statement and annual report to stockholders (including Kronos Worldwide’s Annual Report on

Form 10-K for the fiscal year ended December 31, 2025) are available at

www.envisionreports.com/KRO.

Table of Contents

TABLE OF CONTENTS


	Page
TABLE OF CONTENTS	i
GLOSSARY OF TERMS	iii
GENERAL INFORMATION	1
QUESTIONS AND ANSWERS ABOUT THE ANNUAL MEETING	1
CONTROLLING STOCKHOLDERS	4
SECURITY OWNERSHIP	5
Ownership of Kronos Worldwide	5
Ownership of Related Companies	7
PROPOSAL 1: ELECTION OF DIRECTORS	8
Nominees for Director	8
EXECUTIVE OFFICERS	11
CORPORATE GOVERNANCE	13
Controlled Company Status, Director Independence and Committees	13
2025 Meetings and Standing Committees of the Board of Directors	13
Audit Committee	13
Management Development and Compensation Committee	13
Risk Oversight	14
Identifying and Evaluating Director Nominees	14
Leadership Structure of the Board of Directors and Independent Director Meetings	15
Stockholder Proposals and Director Nominations for the 2027 Annual Meeting of Stockholders	15
Communications with Directors	15
Compensation Committee Interlocks and Insider Participation	16
Code of Business Conduct and Ethics	16
Corporate Governance Guidelines	16
Availability of Corporate Governance Documents	16
Insider Trading Policy	16
Employee, Officer and Director Hedging	16
COMPENSATION OF EXECUTIVE OFFICERS AND DIRECTORS AND OTHER INFORMATION	17
Compensation Discussion and Analysis	17
Compensation Committee Report	19
Summary of Cash and Certain Other Compensation of Executive Officers	20
No Grants of Plan-Based Awards	20
No Outstanding Equity Awards at December 31, 2025	21
No Option Exercises or Stock Vested	21
Pension Benefits	21
Nonqualified Deferred Compensation	21
Pay Ratio Disclosure	21
Director Compensation	21
Pay Versus Performance	22
Compensation Policies and Practices as They Relate to Risk Management	24
Compensation Consultants	25
SECTION 16(a) BENEFICIAL OWNERSHIP REPORTING COMPLIANCE	25
CERTAIN RELATIONSHIPS AND TRANSACTIONS	25
Related Party Transaction Policy	25
Relationships with Related Parties	26
Intercorporate Services Agreements	26
Risk Management Program	27
Tax Matters	28
Subordinated, Unsecured Term Loan from Contran	29
IT Data Services Program	29
Office Sublease	30
Termination of Pension Plan	31
AUDIT COMMITTEE REPORT	32
INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM MATTERS	33
Independent Registered Public Accounting Firm	33
Fees Paid to PricewaterhouseCoopers LLP	33
Preapproval Policies and Procedures	33

-i-

Table of Contents


PROPOSAL 2: NONBINDING ADVISORY RESOLUTION ON NAMED EXECUTIVE OFFICER COMPENSATION	35
Background	35
Say-on-Pay Proposal	35
Effect of the Proposal	35
Vote Required	35
OTHER MATTERS	35
2025 ANNUAL REPORT ON FORM 10-K	36
STOCKHOLDERS SHARING THE SAME ADDRESS	36
REQUEST COPIES OF THE 2025 ANNUAL REPORT AND THIS PROXY STATEMENT	36

-ii-

Table of Contents

GLOSSARY OF TERMS

“brokerage firm or other nominee” means a brokerage firm or other nominee such as a banking institution, custodian, trustee or fiduciary (other than our transfer agent, Computershare) through which a stockholder holds its shares of our common stock.

“broker/nominee non-vote” means a non-vote by a brokerage firm or other nominee for shares held for a client’s account for which the brokerage firm or other nominee does not have discretionary authority to vote on a particular matter and has not received instructions from the client.

“Code” means the Internal Revenue Code of 1986, as amended.

“Computershare” means Computershare Trust Company, N.A., our stock transfer agent and registrar, who will act as inspector of election for the annual meeting of stockholders.

“CompX” means CompX International Inc., one of our publicly held sister corporations that manufactures security products and recreational marine components.

“Contran” means Contran Corporation, the parent corporation of our consolidated tax group.

“Dixie Rice” means Dixie Rice Agricultural L.L.C., one of our parent companies.

“Family Trust” means the Harold C. Simmons Family Trust No. 2, which was established for the benefit of Lisa K. Simmons, her late sister and their children.

“independent directors” means the following directors: John E. Harper, Kevin B. Kramer, Meredith W. Mendes, Cecil H. Moore, Jr. and R. Gerald Turner.

“ISA” means an intercorporate services agreement between Contran and a related company pursuant to which employees of Contran provide certain services, including executive officer services, to such related company on an annual fixed fee basis.

“Kronos Worldwide,” “us,” “we” or “our” means Kronos Worldwide, Inc.

“named executive officer” means any person named in the 2025 Summary Compensation Table in this proxy statement.

“NL” means NL Industries, Inc., one of our publicly held parent corporations that is a diversified holding company (i) of which CompX is a subsidiary and (ii) that holds a significant investment in us through its ownership interest in NLKW.

“NLKW” means NLKW Holding, LLC, a wholly owned subsidiary of NL, which holds a significant investment in us.

“NYSE” means the New York Stock Exchange.

“PCAOB” means the Public Company Accounting Oversight Board, a private sector, non-profit corporation that oversees auditors of U.S. public companies.

“PwC” means PricewaterhouseCoopers LLP, our independent registered public accounting firm.

“record date” means the close of business on March 17, 2026, the date our board of directors set for the determination of stockholders entitled to notice of and to vote at the 2026 annual meeting of our stockholders.

“RPT Policy” means the Kronos Worldwide, Inc. Policy Regarding Related Party Transactions as amended and restated effective February 22, 2023.

“Say-on-Pay” means the second proposal in this proxy statement for a nonbinding advisory vote for the consideration of our stockholders to approve the compensation of our named executive officers as such proposal is described and as such compensation is disclosed in this proxy statement.

“SEC” means the U.S. Securities and Exchange Commission.

“Securities Exchange Act” means the Securities Exchange Act of 1934, as amended.

“stockholder of record” means a stockholder of our common stock who holds shares in its name in certificate form or electronically with our transfer agent, Computershare.

“Tall Pines” means Tall Pines Insurance Company, an indirect wholly owned captive insurance subsidiary of Valhi.

“Valhi” means Valhi, Inc., one of our publicly held parent corporations that is a diversified holding company of which NL is also a subsidiary.

-iii-

Kronos Worldwide, Inc.

Three Lincoln Centre

5430 LBJ Freeway, Suite 1700

Dallas, Texas 75240-2620

PROXY STATEMENT

GENERAL INFORMATION

We are providing this proxy statement in connection with the solicitation of proxies by and on behalf of our board of directors for use at our 2026 annual meeting of stockholders to be held on Wednesday, May 13, 2026, and at any adjournment or postponement of the meeting. We are furnishing our proxy materials to holders of our common stock as of the close of business on March 17, 2026. We will begin distributing a notice of internet availability of our proxy materials to the holders of our common stock on or about March 31, 2026. Our proxy materials include:

●

the accompanying notice of the 2026 annual meeting of stockholders;

●

this proxy statement;

●

our 2025 Annual Report to Stockholders, which includes our Annual Report on Form 10-K for the fiscal year ended December 31, 2025; and

●

a proxy card or voting instruction form.

We are not incorporating the 2025 annual report into this proxy statement and you should not consider the annual report as proxy solicitation material. The accompanying notice of annual meeting of stockholders sets forth the time, place and purposes of the meeting. Our principal executive offices are located at Three Lincoln Centre, 5430 LBJ Freeway, Suite 1700, Dallas, Texas 75240-2620.

Please refer to the Glossary of Terms on page iii for the definitions of certain terms used in this proxy statement.

QUESTIONS AND ANSWERS ABOUT THE ANNUAL MEETING

Q:What is the purpose of the annual meeting?

A:At the annual meeting, stockholders will vote on the following, as described in this proxy statement:

●

Proposal 1 – the election of the eight director nominees named in this proxy statement; and

●

Proposal 2 – the adoption of a nonbinding advisory resolution that approves the named executive officer compensation described in this proxy statement (Say-on-Pay).

In addition, stockholders will vote on any other matter that may properly come before the meeting.

Q:How does the board recommend that I vote?

A:The board of directors recommends that you vote FOR:

●

the election of each of the nominees for director named in this proxy statement; and

●

the approval and adoption of proposal 2 (Say-on-Pay).

Q:	Who is allowed to vote at the annual meeting?

A:	The board of directors has set the close of business on March 17, 2026 as the record date for the determination of stockholders entitled to notice of and to vote at the meeting. Only holders of our common stock as of the

close of business on the record date are entitled to vote at the meeting. On the record date, 115,053,116 shares of our common stock were issued and outstanding. Each share of our common stock entitles its holder to one vote.

Q:	Why did I receive a notice regarding the internet availability of proxy materials instead of paper copies of the proxy materials?

Pursuant to the SEC notice and access rules we furnish proxy materials over the internet to both our stockholders of record and our stockholders who hold our common stock through a brokerage firm or other nominee. We believe that taking advantage of these rules expedites our stockholders’ receipt of proxy materials, while also lowering the costs associated with conducting our annual meeting. You can find instructions on how to access and review the proxy materials, and how to vote over the internet, on the notice of internet availability of proxy materials that you received. The notice also contains instructions on how you can receive a paper copy of this proxy statement, our 2025 Annual Report to Stockholders and a voting instruction form or proxy card.

Q:	How do I vote if I am a stockholder of record?

A:	If you hold shares of our common stock in your name in certificate form or electronically with our transfer agent, Computershare, and not through a brokerage firm or other nominee, you are a stockholder of record. As a stockholder of record, you may:

●

vote over the internet at www.envisionreports.com/KRO;

●

vote by telephone using the voting procedures set forth on your proxy card;

●

instruct the agents named on your proxy card how to vote your shares by completing, signing and mailing the proxy card in the envelope provided; or

●

vote in person at the annual meeting.

Q:	What are the consequences if I am a stockholder of record and I execute my proxy card but do not indicate how I would like my shares voted for one or more of the director nominees named in this proxy statement or proposal 2 (Say-on-Pay)?

A:	If you are a stockholder of record the agents named on your proxy card will vote your shares on such uninstructed nominee or proposal as recommended by the board of directors in this proxy statement.

Q:How do I vote if my shares are held through a brokerage firm or other nominee?

If you hold your shares through a brokerage firm or other nominee, you must follow the instructions on your notice of internet availability of proxy materials or on your voting instruction form, on how to vote your shares. In order to ensure your brokerage firm or other nominee votes your shares in the manner you would like, you must provide voting instructions to your brokerage firm or other nominee by the deadline provided on your notice of internet availability of proxy materials or voting instruction form.

Brokerage firms or other nominees may not vote your shares on the election of a director nominee or proposal 2 in the absence of your specific instructions as to how to vote. We encourage you to provide instructions to your brokerage firm or other nominee regarding the voting of your shares. If you do not instruct your brokerage firm or other nominee how to vote with respect to the election of a director nominee or proposal 2, your brokerage firm or other nominee may not vote with respect to the election of such director nominee or on proposal 2 and your vote will be counted as a “broker/nominee non-vote.” “Broker/nominee non-votes” are non-votes by a brokerage firm or other nominee for shares held in a client’s account for which the brokerage firm or other nominee does not have discretionary authority to vote on a particular matter and has not received instructions from the client. How we treat broker/nominee non-votes is separately described in each of the answers below regarding what constitutes a quorum and the requisite votes necessary to elect a director nominee or approve proposal 2.

Q:	If I hold my shares through a brokerage firm or other nominee, how may I vote in person at the annual meeting?

-2-

A:	If you wish to vote in person at the annual meeting, you will need to follow the instructions on your notice of internet availability of proxy materials or voting instruction form on how to obtain the appropriate documents to vote in person at the meeting.

Q:Who will count the votes?

A:	The board of directors has appointed Computershare to ascertain the number of shares represented, tabulate the vote and serve as inspector of election for the meeting.

Q:Is my vote confidential?

A:Yes. All proxy cards, ballots or voting instructions will be kept confidential in accordance with our bylaws.

Q:How do I change or revoke my proxy instructions if I am a stockholder of record?

A:	If you are a stockholder of record, you may change or revoke your proxy instructions in any of the following ways:

●

delivering to Computershare a written revocation;

●

submitting another proxy card bearing a later date;

●

changing your vote on www.envisionreports.com/KRO;

●

using the telephone voting procedures set forth on your proxy card; or

●

voting in person at the annual meeting.

Q:	How do I change or revoke my voting instructions if my shares are held through a brokerage firm or other nominee?

A:	If your shares are held through a brokerage firm or other nominee, you must follow the instructions from your brokerage firm or other nominee on how to change or revoke your voting instructions or how to vote in person at the annual meeting.

Q:What constitutes a quorum?

A:	A quorum is the presence, in person or by proxy, of the holders of a majority of the outstanding shares of our common stock entitled to vote at the meeting.

Shares that are voted “abstain” or “withheld” are counted as present and entitled to vote and are, therefore, included for purposes of determining whether a quorum is present at the annual meeting.

As already discussed in the previous answer regarding how to vote shares held through a brokerage firm or other nominee, there are no proposals for the annual meeting that would allow a brokerage firm or nominee to vote uninstructed shares. If a brokerage firm or other nominee receives no instruction for the election of any director nominee and receives no instruction for proposal 2 (Say-on-Pay), such uninstructed shares will be counted as not entitled to vote and are, therefore, not considered for purposes of determining whether a quorum is present at the annual meeting. If a brokerage firm or other nominee receives instructions on the election of at least one director nominee or on proposal 2, such instructed shares will be counted as present and entitled to vote and are, therefore, included for purposes of determining whether a quorum is present at the annual meeting.

Together, Valhi and NLKW held approximately 81.0% of the outstanding shares of our common stock as of the record date. Valhi and NLKW have each indicated its intention to have its shares of our common stock represented at the meeting. If Valhi alone attends the meeting in person or by proxy, the meeting will have a quorum present.

-3-

Q:Assuming a quorum is present, what vote is required to elect a director nominee?

Under applicable state law and our governing documents, a plurality of affirmative votes of the holders of our outstanding shares of common stock represented and entitled to vote at the meeting is necessary to elect each director nominee. Our governing documents do not authorize cumulative voting. Accordingly, the director nominee with the most votes for a particular seat will be elected to that seat. Only shares that are voted in favor of a particular nominee will be counted toward that nominee’s achievement of a plurality. There is no “against” option, and votes that are “withheld” or not cast, including broker/nominee non-votes, will not be counted toward that nominee’s achievement of a plurality.

Valhi and NLKW have each indicated its intention to have its shares of our common stock represented at the meeting and to vote such shares FOR the election of each of the director nominees named in this proxy statement. If Valhi alone attends the meeting in person or by proxy and votes as indicated, the stockholders will elect all of the nominees named in this proxy statement to the board of directors.

Q:Assuming a quorum is present, what vote is required to adopt and approve proposal 2 (Say-on-Pay)?

The stockholder resolution contained in this proposal provides that the nonbinding affirmative vote of the holders of the majority of the outstanding shares present in person or represented by proxy at the meeting and entitled to vote on the subject matter will be the requisite vote to adopt the resolution and approve the compensation of our named executive officers as such compensation is disclosed in this proxy statement. Abstentions will be counted as represented and entitled to vote and will therefore have the effect of a negative vote. Broker/nominee non-votes will not be counted as entitled to vote and will have no effect on this proposal.

Valhi and NLKW have each indicated its intention to have its shares of our common stock represented at the meeting and to vote such shares FOR this nonbinding advisory proposal. If Valhi alone attends the meeting in person or by proxy and votes as indicated, the stockholders will, by a nonbinding advisory vote, approve this proposal.

Q:	Assuming a quorum is present, what vote is required to approve any other matter to come before the meeting?

Except as applicable laws may otherwise provide, the approval of any other matter that may properly come before the meeting will require the affirmative votes of the holders of the majority of the outstanding shares represented and entitled to vote at the meeting. Abstentions will be counted as represented and entitled to vote and will therefore have the effect of a negative vote.

Q:	If I am a stockholder of record, how will the agents named on my proxy card vote on any other matter to come before the meeting?

A:	If you are a stockholder of record and to the extent allowed by applicable law, the agents named on your proxy card will vote in their discretion on any other matter that may properly come before the meeting.

Q:Who will pay for the cost of soliciting the proxies?

We will pay all expenses related to the solicitation, including charges for preparing, printing, assembling and distributing all materials delivered to stockholders. In addition to the solicitation by mail, our directors, officers and regular employees may solicit proxies by telephone or in person for which such persons will receive no additional compensation. Upon request, we will reimburse brokerage firms or other nominees for their reasonable out-of-pocket expenses incurred in distributing proxy materials and voting instruction forms to the beneficial owners of our common stock that hold such stock in accounts with such entities.

CONTROLLING STOCKHOLDERS

Valhi and NLKW are the direct holders of approximately 50.4% and 30.6%, respectively, of the outstanding shares of our common stock as of the record date. Together, Valhi and NLKW own approximately 81.0% of the outstanding shares of our common stock. Valhi is the direct holder of approximately 82.7% of the outstanding shares of

-4-

NL common stock as of the record date. Each of Valhi and NLKW has indicated its intention to have its shares of our common stock represented at the meeting and to vote such shares FOR the election of each of the director nominees named in this proxy statement and FOR proposal 2 (Say-on-Pay). If Valhi alone attends the meeting in person or by proxy and votes as indicated, the meeting will have a quorum present and the stockholders will elect all of the nominees named in this proxy statement to the board of directors and approve proposal 2.

SECURITY OWNERSHIP

Ownership of Kronos Worldwide. The following table and footnotes set forth as of the record date the beneficial ownership, as defined by regulations of the SEC, of our common stock held by each individual, entity or group known to us to own beneficially more than 5% of the outstanding shares of our common stock, each of our directors, each of the named executive officers (which include two former executive officers), and all of our current directors and executive officers as a group. See footnotes 3 and 4 below for information concerning the relationships of certain individuals and entities that may be deemed to own indirectly and beneficially more than 5% of the outstanding shares of our common stock. All information is taken from or based upon ownership filings made by such individuals or entities with the SEC or upon information provided by such individuals or entities.


		Kronos Worldwide Common Stock (1)
		Amount and Nature of			Percent of
Name of Beneficial Owner		Beneficial Ownership			Class (2)
5% Stockholder:

Harold C. Simmons Family Trust No. 2		93,346,984	(3)(4)		81.1%
Lisa K. Simmons		93,346,984	(3)(4)		81.1%

Directors and Named Executive Officers:

Brian W. Christian		-0-	(5)		-0-
Loretta J. Feehan		21,250	(5)		*
John E. Harper		16,250	(5)		*
Kevin B. Kramer		24,260	(5)		*
Meredith W. Mendes		13,750	(5)		*
Cecil H. Moore, Jr.		30,774	(5)		*
Michael S. Simmons		5,000	(5)		*
R. Gerald Turner		32,046	(5)		*

John A. Sunny		-0-	(5)		-0-
Bradley E. Troutman		-0-	(5)		-0-
James M. Buch		300	(5)		*
Tim C. Hafer		-0-	(5)		-0-

Current directors and executive officers as a group (23 persons)		196,283	(5)		*

*	Less than 1%.

(1)

Beneficial ownership as reported in the above table has been determined in accordance with Rule 13d-3 under the Securities Exchange Act and is not necessarily indicative of beneficial ownership for any other purpose. Except as otherwise noted, the listed entities, individuals or group have sole investment power and sole voting power as to all shares set forth opposite their names. Except as noted in footnote 4 to this table, the business address for each listed person or entity is Three Lincoln Centre, 5430 LBJ Freeway, Suite 1700, Dallas, Texas 75240-2620.

(2)	The percentages set forth above and in the following footnotes are based on 115,053,116 shares of our common stock outstanding as of the record date.

-5-

(3)	The shares reported in this table for the Family Trust and Ms. Simmons consist of 93,346,984 shares held directly by the entities below. See footnote 4 to this table, below.


		Kronos Worldwide Common Stock
				Percent of
Direct Holder		Shares		Class
Valhi		57,990,042		50.4%
NLKW		35,219,270		30.6%
Contran		137,672		*
Total		93,346,984		81.1%

*Less than 1%

(4)	The following is a description of certain related entities or persons that may be deemed to beneficially own outstanding shares of our common stock.

A majority of Contran’s outstanding voting stock is held directly by Ms. Simmons and by family stockholders (Thomas C. Connelly (the husband of Ms. Simmons’ late sister), a family-owned entity and various family trusts established for the benefit of Ms. Simmons, Mr. Connelly and their children) who are required to vote their shares of Contran voting stock in the same manner as Ms. Simmons. Such voting rights are personal to Ms. Simmons and last through April 22, 2030. The remainder of Contran’s outstanding voting stock is held by the Family Trust, for which Tolleson Private Bank, a third-party financial institution, serves as trustee (the “Trustee”). Ms. Simmons can appoint qualifying successor trustees of the Family Trust if the Trustee resigns or otherwise decides not to serve as trustee. The business address of the Family Trust (and the Trustee) is 5550 Preston Road, Suite B, Dallas, Texas 75205.

Ms. Simmons serves as chair of the board of directors of Contran, and two other members of Contran management also serve on the board of directors of Contran. Contran is the holder of the sole membership interest of Dixie Rice and may be deemed to control Dixie Rice.

Ms. Simmons and the Family Trust are related to Valhi, which directly holds 82.7% of the outstanding shares of NL common stock.

Ms. Simmons and the Family Trust are related to Dixie Rice, which directly holds 91.4% of the outstanding shares of Valhi common stock. We and NL (including a wholly owned subsidiary of NL) own 143,743 shares and 1,197,746 shares, respectively, of Valhi common stock. Since we and NL are majority owned subsidiaries of Valhi, and pursuant to Delaware law, Valhi treats the shares of Valhi common stock that we and NL own as treasury stock for voting purposes. Pursuant to Section 13(d)(4) of the Securities Exchange Act, such shares are not deemed outstanding for the purposes of calculating the percentage ownership of the outstanding shares of Valhi common stock as of the record date in this proxy statement.

By virtue of the stock ownership of each of us, NLKW, NL, Valhi, Dixie Rice and Contran, Ms. Simmons being a beneficiary of the Family Trust, the direct holdings of Contran voting stock by Ms. Simmons, the voting rights conferred to Ms. Simmons by a stockholders agreement relating to Contran stock, Ms. Simmons’ position as chair of the Contran board, and the Family Trust’s ownership of Contran voting stock, in each case as described above:

●

Ms. Simmons and the Family Trust (and the Trustee, in its capacity as trustee of the Family Trust) may be deemed to control each of Contran, Dixie Rice, NL, NLKW, Valhi and us; and

●

Ms. Simmons, the Family Trust (and the Trustee, in its capacity as trustee of the Family Trust), Contran, Dixie Rice, NL, NLKW and Valhi and we may be deemed to possess indirect beneficial ownership of shares of common stock directly held by such entities, including any shares of our common stock.

Ms. Simmons disclaims beneficial ownership of all shares of our common stock, except to the extent of her pecuniary interest in such shares, if any. The Family Trust (and the Trustee) disclaim beneficial ownership of all shares of our common stock, except to the extent of their pecuniary interest in such shares, if any.

(5)	Each of our directors or executive officers disclaims beneficial ownership of any shares of our common stock, except to the extent he or she has a pecuniary interest in such shares, if any.

We understand that Contran and related entities or persons may consider acquiring or disposing of shares of our common stock through open market or privately negotiated transactions, depending upon future developments, including, but not limited to, the availability and alternative uses of funds, the performance of our common stock in the market, an assessment of our business and prospects, financial and stock market conditions and other factors deemed relevant by such entities. We may similarly consider acquisitions of shares of our common stock and acquisitions or dispositions of securities issued by related entities.

-6-

Ownership of Related Companies. Some of our directors and executive officers own equity securities of certain companies related to us.

Ownership of NL and Valhi. The following table and footnotes set forth the beneficial ownership, as of the record date, of the shares of NL and Valhi common stock held by each of our current directors, each of the named executive officers, and all of our current directors and executive officers as a group. All information is taken from or based upon ownership filings made by such individuals with the SEC or upon information provided by such persons.


	NL Common Stock			Valhi Common Stock
	Amount and Nature		Percent of	Amount and Nature		Percent of
	of Beneficial		Class	of Beneficial		Class
Name of Beneficial Owner	Ownership (1)		(1)(2)	Ownership (1)		(1)(3)
Brian W. Christian	-0-	(4)	-0-	-0-	(4)	-0-
Loretta J. Feehan	35,050	(4)	*	7,491	(4)	*
John E. Harper	32,050	(4)	*	-0-	(4)	-0-
Kevin B. Kramer	18,350	(4)	*	1,900	(4)	*
Meredith W. Mendes	28,550	(4)	*	-0-	(4)	-0-
Cecil H. Moore, Jr.	43,550	(4)	*	-0-	(4)	-0-
Michael S. Simmons	-0-	(4)	-0-	-0-	(4)	-0-
R. Gerald Turner	3,739	(4)	*	586	(4)	*

John A. Sunny	-0-	(4)	-0-	-0-	(4)	-0-
Bradley E. Troutman	-0-	(4)	-0-	-0-	(4)	-0-
James M. Buch	-0-	(4)	-0-	-0-	(4)	-0-
Tim C. Hafer	-0-	(4)	-0-	-0-	(4)	-0-

Current directors and executive officers as a group (23 persons)	164,539	(4)	*	13,727	(4)	*

*	Less than 1%.

(1)

(2)	The percentages are based on 48,862,734 shares of NL common stock outstanding as of the record date.

(3)

The percentages are based on 28,302,293 shares of Valhi common stock outstanding for voting purposes as of the record date. We and NL (including a wholly owned subsidiary of NL) own 143,743 shares and 1,197,746 shares, respectively, of Valhi common stock. Since we and NL are majority owned subsidiaries of Valhi and pursuant to Delaware law, Valhi treats the shares of Valhi common stock that we and NL own as treasury stock for voting purposes. Pursuant to Section 13(d)(4) of the Securities Exchange Act, such shares are not deemed outstanding for the purposes of calculating the percentage ownership of the outstanding shares of Valhi common stock as of the record date in this proxy statement.

(4)	Each of our directors or executive officers disclaims beneficial ownership of any shares of NL or Valhi common stock, except to the extent he or she has a pecuniary interest in such shares, if any.

-7-

PROPOSAL 1

ELECTION OF DIRECTORS

Our bylaws provide that the board of directors shall consist of one or more members as determined by our board of directors or stockholders. Our board of directors has currently set the number of directors at eight and recommends the eight director nominees named in this proxy statement for election at our 2026 annual stockholder meeting. The directors elected at the meeting will hold office until our 2027 annual stockholder meeting and until their successors are duly elected and qualified or their earlier removal or resignation.

All of the nominees are currently members of our board of directors whose terms will expire at the 2026 annual meeting. All of the nominees have agreed to serve if elected. If any nominee is unable to serve or for good cause will not serve as a director at the time of the annual meeting, the proxy holders may vote your shares for any alternate nominee selected by the board of directors, unless you withhold authority to vote for such unavailable nominee. The board of directors believes that all of its nominees will be available for election at the meeting and will serve if elected.

OUR BOARD OF DIRECTORS RECOMMENDS A VOTE FOR THE ELECTION OF EACH OF THE FOLLOWING NOMINEES FOR DIRECTOR.

Nominees for Director. All of our nominees have extensive senior management and policy-making experience or significant accounting experience. Each of the nominees is knowledgeable about our business. Each of our independent directors is financially literate. The board of directors considered each nominee’s specific business experiences described in the biographical information provided below in determining whether to nominate him or her for election as a director.

Brian W. Christian, age 47, has served on our board of directors and as our chief executive officer since February 2026 and as our president since May 2025. He previously served as our chief operating officer from 2023 to February 2026, as our executive vice president from 2016 until May 2025, as our chief strategy officer from 2021 to 2023, as our vice president, strategic business development from 2011 to 2016, and as our manager of strategic and financial planning from 2009 to 2011. He currently serves as executive vice president of Contran. Mr. Christian has served in strategic and financial planning positions (including officer positions) with various companies related to us and Contran since 2006.

Mr. Christian has extensive experience with our business, during which he developed general management, senior executive, corporate governance, finance and financial accounting oversight experience.

Loretta J. Feehan, age 70, has served as chair of the board (non-executive) of us, CompX, NL and Valhi since 2017 and as a director of each such company since 2014. She is a certified public accountant who consults on financial and tax matters. Prior to forming her own practice, she served as a tax partner with Deloitte and Touche LLP serving primarily corporate clients. Ms. Feehan also taught continuing education courses from 2002 to 2016 to tax practitioners around the country for Accountant’s Education Services. She has been a financial advisor to Lisa K. Simmons since prior to 2021.

Ms. Feehan has 12 years of experience as a director of us, CompX, NL and Valhi. She has over 47 years of financial and tax accounting and auditing experience, certain years of which were as a partner in one of the largest international accounting firms.

John E. Harper, age 64, has served on our board of directors since 2016. Mr. Harper is currently a private investor. He previously served as vice president and chief financial officer of Dell Services, a business unit of the global information technology company Dell, Inc., from 2009 to 2014. Prior to the 2009 acquisition of Perot Systems Corporation, a worldwide provider of information technology services and business solutions, by Dell, he worked for 16 years with Perot Systems, most recently as their chief financial officer. Before joining Perot Systems, he worked for nine years in the audit practice of Ernst & Young LLP, serving a number of industries including technology, manufacturing, education and oil and gas. From 2015 to 2016, Mr. Harper served as a director and chairman of the audit committee and member of the compensation committee of Rackspace Hosting, Inc., a world leader in the managed cloud segment of the business information technology market. Mr. Harper is a certified public accountant. He has served as a director and on the audit committee of NL since prior to 2021 and on NL’s management development and compensation

-8-

committee since 2024. He is a member of our audit committee and our management development and compensation committee.

Mr. Harper has 10 years of experience on the boards of directors and audit committees of Kronos Worldwide and NL. He also has senior executive, operating, corporate governance, finance, financial accounting and auditing experience from one of the largest independent international public accounting firms and from other publicly held entities for which he currently serves or formerly served.

Kevin B. Kramer, age 66, has served on our board of directors since 2023. He has served as senior advisor to the chief executive officer of ATI Inc. (previously named Allegheny Technologies, Incorporated), a publicly traded global manufacturer of specialty materials and components supplying the aerospace, defense, energy, medical, consumer electronics and automotive industries, since 2023. He has served since 2024 as a senior advisor to Brimstone, which co-produces multiple products including portland cement, supplementary cementitious materials, and smelter grade alumina. Since 2026, he has served as a member of the Strategic Advisory Board of Quantum Leap Energy LLC, a wholly owned subsidiary of ASP Isotopes Inc., a publicly traded development stage advanced materials company dedicated to the development of technology and processes to produce isotopes for use in multiple industries. He previously served as senior vice president, chief commercial and marketing officer for ATI from 2014 to 2023. Prior to joining ATI, Mr. Kramer worked for Stoneridge, Inc. where he was president—Stoneridge wiring division and vice president from 2012 to 2014. Earlier experience includes serving as president—growth initiatives and president—wheel and transportation products for Alcoa, Inc. from 2004 to 2012 and serving in various roles for Goodyear Tire and Rubber Company from 1983 to 2004. From 2022 until 2023, Mr. Kramer served as a director and on the audit committee of CompX and Valhi. Since 2023, he has served as a director and on the audit committee of NL. He is a member of our audit committee.

Mr. Kramer has over two years of experience on the boards of directors and audit committees of Kronos Worldwide and NL. He also has senior executive, operating, corporate governance, finance, and financial accounting oversight experience from a publicly traded company and other companies for which he has served.

Meredith W. Mendes, age 67, has served on our board of directors since 2018. Since 2024, Ms. Mendes has served as chief financial officer and a founding partner of Pierson Ferdinand LLP, a full-service technology-driven law firm with more than 270 lawyers in over 20 U.S. markets and London, where she is responsible for finance, accounting, tax, financial planning and analysis, treasury, payroll, human resources and related functions. From 2022 to 2023, Ms. Mendes served as the chief executive officer of Matthew Pritzker Company LLC, a single-family office. From 2020 to 2022, she served as chief operating officer and a partner of Gresham Partners, LLC, a wealth management and investment advisory firm, where she was responsible for finance, technology, cybersecurity, client and investment operations, facilities, legal and other support functions. From 2005 to 2020, Ms. Mendes served as executive director and chief operating officer of Jenner & Block LLP, a law firm with more than 500 attorneys with offices across the United States and in London, where she was responsible for firm-wide operations relating to finance, technology, facilities and real estate, human resources and other support functions. From 1999 to 2005, Ms. Mendes served as executive vice president and worldwide chief financial officer of Daniel J. Edelman, Inc., a global communications marketing firm. From 2019 to 2023, Ms. Mendes served as a director and on the audit and nominating and corporate governance committees of Quanex Building Products Corporation (NYSE: NX), a manufacturer of window and door, and kitchen and bath cabinet components sold to original equipment manufacturers. Ms. Mendes has a law degree from Harvard Law School, a Master of Business Administration degree with a finance concentration from the University of Chicago Booth School of Business and an AB (magna cum laude) from Brown University. Ms. Mendes is an Illinois certified public accountant. Ms. Mendes has earned her CERT Certificate in Cybersecurity Oversight from the Software Engineering Institute of Carnegie Mellon University. Ms. Mendes has served as a director and on the audit committee of NL since prior to 2021. She is a member of our audit committee.

Ms. Mendes has eight years of experience on the boards of directors and audit committees of Kronos Worldwide and NL. She also has senior executive, operating, corporate governance, finance and financial accounting oversight experience from other publicly and privately held entities for which she currently serves or formerly served.

Cecil H. Moore, Jr., age 86, has served on our board of directors since 2003. Mr. Moore is currently a private investor and retired from KPMG LLP in 2000 after 37 years in which he served in various capacities with the public accounting firm. Among other positions, he served as managing partner of the firm’s Dallas, Texas office from 1990 to 1999. Prior to 1990, Mr. Moore was partner-in-charge of the audit and accounting practice of the firm’s Dallas, Texas

-9-

office for 12 years. From 2014 to 2016, Mr. Moore served as a director and chairman of the audit committee of Sizmek Inc., a former publicly held on-line advertising business that was spun-off in 2014 by Digital Generation, Inc. From 2011 to 2014, he served as a director and chairman of the audit committee of Digital Generation, Inc., a former publicly held provider of digital technology services to media outlets. From 2003 until 2009, Mr. Moore served as a director and chairman of the audit committee of Perot Systems. Mr. Moore is a certified public accountant. Since prior to 2021, he has served as a director and on the audit committee of NL, serving as chairman of its audit committee since 2019; and he has served as a member of NL’s management development and compensation committee since 2019, and as that committee’s chairman since 2024. From 2016 until 2019, he served as a director and as the chairman of the audit committee of CompX. He is a member of our management development and compensation committee and the chairman of our audit committee.

Mr. Moore has over 22 years of experience on the boards of directors and audit committees of Kronos Worldwide and NL. He also has senior executive, operating, corporate governance, finance, financial accounting and auditing experience from one of the largest independent international public accounting firms and from other publicly held entities for which he currently serves or formerly served.

Michael S. Simmons, age 54, has served on our board of directors and as our vice chairman of the board since 2023. He previously served as our executive vice president, finance from 2022 to 2023; as our senior vice president, finance from 2021 to 2022; and as our vice president, finance from 2019 to 2021. He currently serves as vice chairman of the board, president and chief executive officer of Valhi; as vice chairman of the board of NL and CompX; and as president and chief executive officer of Contran. He has served as a director of Valhi and CompX since 2022 and as a director of NL and Contran since 2023. Mr. Simmons has served in accounting and financial positions (including officer positions) with various companies related to us and Contran since 2018. From 1994 to 2018, Mr. Simmons was employed by PwC, most recently as a managing director. Mr. Simmons is not related to Lisa K. Simmons, who may be deemed to control Kronos Worldwide.

Mr. Simmons has extensive experience with our business. He also has senior executive, operating, corporate governance, finance, financial accounting and auditing experience with us, from one of the largest independent international public accounting firms, and from other publicly and privately held entities related to us for which he currently serves or formerly served.

Dr. R. Gerald Turner, age 80, has served on our board of directors since 2003. He has served as president emeritus of Southern Methodist University in Dallas, Texas since 2025, after serving as its president from 1995 until 2025. He held previous executive and administrative positions at the University of Mississippi, the University of Oklahoma and Pepperdine University. He served from 2001 to 2020 as a trustee of the American Beacon Funds and American Beacon Select Funds, each a registered management investment company. He served on the board of directors of J.C. Penney Company from 1995 to 2019. Dr. Turner has served as a director and on the audit committee of NL since 2025. He is a member of our audit committee and chairman of our management development and compensation committee.

Dr. Turner has over 22 years of experience on our board of directors, audit committee and management development and compensation committee. He also has senior executive, operating, corporate governance, finance and financial accounting oversight experience from a large, non-profit, private educational institution for which he currently serves and from other publicly held entities for which he currently serves or formerly served.

-10-

EXECUTIVE OFFICERS

Set forth below is certain information relating to our executive officers. Each executive officer serves at the pleasure of the board of directors. Biographical information with respect to Michael S. Simmons and Brian W. Christian is set forth under the Nominees for Director subsection above.


Name	Age	Position(s)
Michael S. Simmons	54	Vice Chairman of the Board
Brian W. Christian	47	President and Chief Executive Officer
Dennis Werner	42	Chief Commercial Officer
Benjamin R. Corona	65	President, Americas
Rainer F. Gruber	58	Executive Vice President, Chief Manufacturing and Technology Officer
Kristin B. McCoy	53	Executive Vice President, Global Tax
Andrew B. Nace	61	Executive Vice President
Courtney J. Riley	60	Executive Vice President
Amy Allbach Samford	51	Executive Vice President, Finance
John A. Sunny	63	Executive Vice President and Chief Information Officer
Erica A. Austin	35	Senior Vice President, Human Resources
Bryan A. Hanley	45	Senior Vice President and Treasurer
Alexis A. Thomason	45	Senior Vice President and General Counsel
Bradley E. Troutman	52	Senior Vice President and Chief Financial Officer
Bryan S. Bell	52	Vice President and Controller, Global Finance
Ulrich F. Kabelac	62	Vice President and Controller, Global Operations
Bart W. Reichert	55	Vice President, Internal Audit

Dennis Werner has served as our chief commercial officer since August 2025. He previously served as our president, EMEAA from 2023 to August 2025. He has served in various sales and marketing positions with us since 2018, including various vice president positions with some of our subsidiaries.

Benjamin R. Corona has served as our president, Americas since 2023. He previously served as our president, global sales management from 2012 to 2023. In 2012, he served as our president, North American and export sales and marketing. He also served as our president, North American sales and marketing from 2008 to 2012 and from 2005 to 2008 as our vice president, marketing. He has served in various marketing positions with us since 2004.

Rainer F. Gruber has served as our executive vice president, chief manufacturing and technology officer since 2022. He previously served as our senior vice president, manufacturing and technology from 2019 to 2022 and as our vice president, product and process development from 2014 to 2019. He has served in various manufacturing and technology positions with us since 2003.

Kristin B. McCoy has served as our executive vice president, global tax since 2022. She previously served as our senior vice president, global tax from 2021 to 2022 and as our vice president, tax from 2018 to 2021. She currently serves as executive vice president, tax of Valhi, CompX, NL and Contran. Ms. McCoy has served in various tax accounting positions with various companies related to us and Contran since 2003.

Andrew B. Nace has served as our executive vice president since 2017. He previously served as our vice president from 2013 to 2017 and as our general counsel in 2013. He currently serves as executive vice president of NL and CompX, and as executive vice president and general counsel of Valhi and Contran. Mr. Nace has served in legal positions (including officer positions) with various companies related to us and Contran since 2003.

Courtney J. Riley has served as our executive vice president since February 2026. She previously served as our executive vice president, chief transformation officer from 2022 to 2026; as our senior vice president, health, safety and environment from 2021 to 2022; as our senior vice president, environmental affairs from 2020 to 2021; and as our vice president, environmental affairs from 2013 to 2020. She currently serves as president and chief executive officer of NL; and as senior vice president of Contran. She has served as a director of NL since 2022. Ms. Riley has served in legal and environmental affairs positions (including officer positions) with various companies related to us and Contran since 2009.

-11-

Amy Allbach Samford has served as our executive vice president, finance since May 2025. She previously served as our executive vice president from 2022 until May 2025. She currently serves as executive vice president and chief financial officer of Valhi, NL, CompX and Contran. Ms. Samford has served in various accounting and financial positions (including officer positions) in various companies related to us and Contran since 2006.

John A. Sunny has served as our executive vice president since 2022 and as our chief information officer since 2015. He previously served as our senior vice president from 2020 to 2022; as our vice president from 2015 to 2020; and as our vice president, information technology from 2013 to 2015. He currently serves as executive vice president and chief information officer of Valhi and NL, as executive vice president of CompX, and as senior vice president and chief information officer of Contran. Mr. Sunny has served in information technology positions (including officer positions) with various companies related to us and Contran since 2003.

Erica A. Austin has served as our senior vice president, human resources since May 2025. She currently serves as senior vice president, human resources of Valhi and Contran and as senior vice president, employee benefits of NL and CompX. Ms. Austin has served in human resources positions with various companies related to us and Contran since 2017.

Bryan A. Hanley has served as our senior vice president since 2022 and as our treasurer since 2017. He previously served as our vice president from 2017 to 2022. He currently serves as senior vice president and treasurer of NL, Valhi and CompX and as Contran’s vice president and treasurer.

Alexis A. Thomason has served as our senior vice president since May 2025 and as our general counsel since 2022. She previously served as our vice president from 2022 until May 2025. From 2019 to 2021, Ms. Thomason served as managing counsel, aviation systems segment of L3Harris Technologies, Inc., an aerospace and defense technology company, and also served as its assistant general counsel, electronics segment from 2018 to 2019. She was employed by Occidental Chemical Corporation, a chemical manufacturing company, from 2011 to 2018, most recently as senior counsel. Ms. Thomason started her legal career at the law firm Fulbright & Jaworski L.L.P. in Dallas, Texas.

Bradley E. Troutman has served as our senior vice president and chief financial officer since August 2025. He served as chief financial officer of Pegasus Logistics Group, a global freight forwarding and logistics company, from 2024 to July 2025. From 2019 to 2022, he served as chief financial officer of Atlantic Aviation, a fixed-base operator (FBO) network and aviation services provider with FBO locations throughout the United States. Prior to 2019, Mr. Troutman served in financial leadership roles for two publicly traded corporations, where collectively he was employed for 12 years; he was employed by the Public Company Accounting Oversight Board as manager, inspection division for two years; and he was employed by PricewaterhouseCoopers LLP from 1996 to 2004, most recently as manager, assurance and business advisory services.

Bryan S. Bell has served as our vice president and controller, global finance since 2024. He has served in various accounting positions with us since 2017. Prior to 2017, Mr. Bell held various accounting positions in the consumer and industrial products industries and spent 10 years at Ernst & Young LLP in Dallas to begin his career.

Ulrich F. Kabelac has served as our vice president and controller, global operations since 2024. He has served in various accounting positions with us since 2003.

Bart W. Reichert has served as our vice president, internal audit since 2021. He has also served as vice president, internal audit for CompX, Valhi and NL since 2021. From 1994 to 2021, Mr. Reichert was employed by PwC, most recently as a managing director.

-12-

CORPORATE GOVERNANCE

Controlled Company Status, Director Independence and Committees. Because of Valhi’s direct and indirect ownership of approximately 81.0% of the outstanding shares of our common stock, we are considered a controlled company under the listing standards of the NYSE. Pursuant to the listing standards, a controlled company may choose not to have a majority of independent directors, independent compensation, nominations or corporate governance committees or charters for these committees. While we currently have a majority of independent directors, we have chosen not to have an independent nominations or corporate governance committee or charters for these committees. Our board of directors believes that the full board of directors best represents the interests of all of our stockholders and that it is appropriate for all matters that would otherwise be considered by a nominations, corporate governance or risk oversight committee to be considered and acted upon by the full board of directors. Applying the NYSE director independence standards without any additional categorical standards, our board of directors has determined that John E. Harper, Kevin B. Kramer, Meredith W. Mendes, Cecil H. Moore, Jr. and R. Gerald Turner are independent and have no material relationship with us other than serving as our directors. While the members of our management development and compensation committee currently satisfy the independence requirements of the NYSE, we have chosen not to satisfy all of the NYSE corporate governance standards for a compensation committee, including not having a charter for our management development and compensation committee.

2025 Meetings and Standing Committees of the Board of Directors. The board of directors held five meetings and took action by written consent on two occasions in 2025. Each of our incumbent directors attended at least 90% of the board meetings and meetings of the committees on which he or she served that were held while he or she was in office during 2025. It is expected that each director nominee will attend our 2026 annual meeting of stockholders, which is held immediately before the annual meeting of the board of directors. All of our directors who were elected at our 2025 annual stockholder meeting attended such meeting.

The board of directors has established and delegated authority to two standing committees, which are described below. The board of directors is expected to elect the members of the standing committees at the board of directors annual meeting immediately following the annual stockholder meeting. The board of directors from time to time may establish other committees to assist it in the discharge of its responsibilities.

Audit Committee. Our audit committee assists with the board of directors’ oversight responsibilities relating to our financial accounting and reporting processes and auditing processes, and to our management of risk. The purpose, authority, resources and responsibilities of our audit committee are more specifically set forth in its charter. Applying the requirements of the NYSE corporate governance standards (without additional categorical standards) and SEC regulations, as applicable, the board of directors has determined that:

●

each member of our audit committee is independent, financially literate and has no material relationship with us other than serving as our director; and

●

Cecil H. Moore, Jr., John E. Harper and Meredith W. Mendes are each an “audit committee financial expert.”

No member of our audit committee serves on more than three public company audit committees. For further information on the role of our audit committee, see the Audit Committee Report in this proxy statement. The current members of our audit committee are Cecil H. Moore, Jr. (chairman), Kevin B. Kramer, John E. Harper, Meredith W. Mendes and R. Gerald Turner. Our audit committee held seven meetings in 2025.

Management Development and Compensation Committee. The principal responsibilities of our management development and compensation committee are:

●

to recommend to the board of directors whether or not to approve any proposed charge to us or any of our privately held subsidiaries pursuant to our ISA with Contran;

●

to review certain matters regarding our employee benefit plans or programs, including discretionary incentive bonuses and salaries we pay;

●

to review, approve, administer and grant awards under our director stock plan; and

-13-

●

to review and administer such other compensation matters as the board of directors may direct from time to time.

As discussed above, the board of directors has determined that each member of our management development and compensation committee is independent by applying the NYSE director independence standards (without additional categorical standards). The management development and compensation committee may delegate to its members or our officers any or all of its authority as it may choose subject to certain limitations of Delaware law on what duties directors may delegate. The committee has not exercised this right of delegation. With respect to the role of our executive officers in determining or recommending the amount or form of executive compensation, see the Compensation Discussion and Analysis section of this proxy statement. With respect to director cash compensation, our executive officers make recommendations on such compensation directly to our board of directors for its consideration without involving the management development and compensation committee. The current members of our management development and compensation committee are R. Gerald Turner (chairman), Cecil H. Moore, Jr. and John E. Harper. Our management development and compensation committee held one meeting in 2025.

Risk Oversight. Our board of directors oversees the actions we take in managing our material risks. Our management is responsible for our day-to-day management of risk. The board’s oversight of our material risks is undertaken through, among other things, various reports and assessments that management presents to the board and the related board discussions. The board has delegated some of its primary risk oversight to our audit committee and management development and compensation committee.

Our audit committee oversees risks associated with financial and accounting matters, including our financial reporting and internal control systems. The audit committee annually receives management’s report and assessment on the risk of fraud, and also periodically receives reports from our independent registered public accounting firm regarding, among other things, financial risks and the risk of fraud. In addition, the audit committee has responsibility for facilitating the board’s process of oversight of our overall risk management approach, and in that regard the audit committee annually receives management’s report on identification and assessment of our material business risks and management’s approach for providing periodic updates to the board and applicable committees.

Our management development and compensation committee receives management’s assessments on the likelihood that our compensation policies and practices could have a material adverse effect on us, as more fully described in the Compensation Policies and Practices as They Relate to Risk Management section of this proxy statement.

The audit committee and management development and compensation committee report to the board of directors about their meetings. We believe the leadership structure of the board of directors is appropriate for our risk oversight.

Identifying and Evaluating Director Nominees. Historically, our management has recommended director nominees to the board of directors. As stated in our corporate governance guidelines:

●

our board of directors has no specific minimum qualifications for director nominees;

●

each nominee should possess the necessary business background, skills and expertise at the policy-making level and a willingness to devote the required time to the duties and responsibilities of membership on the board of directors; and

●

the board of directors believes that experience as our director is a valuable asset and that directors who have served on the board for an extended period of time are able to provide important insight into our current and future operations.

In identifying, evaluating and determining our director nominees, the board of directors follows such corporate governance guidelines. The board also considers the nominee’s ability to satisfy the need, if any, for required expertise on the board of directors or one of its committees. While we do not have any policy regarding the diversity of our nominees, the board does consider diversity in the background, skills and expertise at the policy making level of our director nominees, and as a result our board believes our director nominees possess a diverse range of senior management experience that aids the board in fulfilling its responsibilities. The board of directors believes its procedures

-14-

for identifying and evaluating director nominees are appropriate for a controlled company under the NYSE corporate governance standards.

Leadership Structure of the Board of Directors and Independent Director Meetings. Loretta J. Feehan serves as our chair of the board (non-executive), and our chief executive officer Brian W. Christian serves on our board. The board of directors believes our current leadership structure is appropriate for a controlled company under the NYSE corporate governance guidelines. While there is no single organizational structure that is ideal in all circumstances, the board of directors believes that having different individuals serve as our chair of the board (non-executive) and as our chief executive officer reflects the established working relationship for these positions regarding our business and provides an appropriate breadth of experience and perspective that effectively facilitates the formulation of our long-term strategic direction and business plans. In addition, the board of directors believes that since Ms. Feehan is a representative of Contran, her service as our chair of the board (non-executive) is beneficial in providing strategic leadership for us since there is a commonality of interest that is closely aligned in building long-term stockholder value for all of our stockholders. We have in the past, and may in the future, have a leadership structure in which the same individual serves as our chairman of the board and as our chief executive officer. In those instances, the individual has been, or would be expected to be, an employee or representative of Contran.

Pursuant to our corporate governance guidelines, our non-management directors (who are not executive officers of Kronos Worldwide) are entitled to meet on a regular basis throughout the year, and will meet at least once annually, without management participation. Our independent directors also meet at least once annually, without the participation of our other directors who are not independent. We are not required to have a lead independent director under the NYSE corporate governance standards. While we do not have a lead independent director, the chairman of our audit committee presides at all of the meetings of our non-management and independent directors. In 2025, we complied with the NYSE requirements for meetings of our independent and non-management directors.

Stockholder Proposals and Director Nominations for the 2027 Annual Meeting of Stockholders. Under the rules of the SEC, in order to be considered for inclusion in next year’s proxy statement, a stockholder proposal must be received by us no later than December 1, 2026. The notice should be in writing and must comply with the proxy rules of the SEC. If the date of our 2027 annual stockholders meeting changes by more than 30 days from May 13, 2027 (the anniversary of this year’s annual meeting), then the deadline will be a reasonable time before the printing and mailing of our proxy materials in accordance with applicable SEC rules.

Our advance notice bylaw provisions require that any stockholder proposal or director nomination to be presented from the floor of our 2027 annual meeting must be received by our corporate secretary not later than the 120th day nor earlier than the 150th day prior to May 13, 2027 (the first anniversary of this year’s annual meeting). If the date of our 2027 annual meeting is more than 30 days before or after May 13, 2027, stockholder proposals must be delivered no later than the 10th day following the date that notice of the date of our annual meeting is mailed or the public disclosure of the date for such annual meeting, whichever is earlier. Any stockholder proposal must be, under law, an appropriate subject for stockholder action to be brought before the meeting. In addition, in order to present a stockholder proposal or nominate a director at our 2027 annual meeting, the stockholder must satisfy certain other requirements, including information requirements, set forth in our amended and restated bylaws. Stockholder proposals and director nominations should be directed to Kronos Worldwide, Inc., c/o Corporate Secretary, Three Lincoln Centre, 5430 LBJ Freeway, Suite 1700, Dallas, Texas 75240-2620.

In addition to satisfying the foregoing requirements under our amended and restated bylaws, stockholders who intend to solicit proxies in support of director nominees other than Kronos Worldwide’s nominees must provide us with the notice required under Rule 14a-19 under the Securities Exchange Act by the deadline for nominations under the advance notice provisions of our bylaws (that is, in most cases no later than January 13, 2027) and comply with the other requirements of that rule.

Communications with Directors. Stockholders and other interested parties who wish to communicate with the board of directors or its non-management or independent directors may do so through the following procedures. Such communications not involving complaints or concerns regarding accounting, internal accounting controls and auditing matters related to us may be sent to the attention of our corporate secretary at Kronos Worldwide, Inc., Three Lincoln Centre, 5430 LBJ Freeway, Suite 1700, Dallas, Texas 75240-2620. Provided that any such communication relates to our business or affairs and is within the function of our board of directors or its committees, and does not relate to insignificant or inappropriate matters, such communication, or a summary of such communication, will be forwarded to

-15-

the chairman of our audit committee, who also serves as the presiding director of our non-management and independent director meetings.

Complaints or concerns regarding accounting, internal accounting controls and auditing matters, which may be made anonymously, should be sent to the attention of our general counsel with a copy to our chief financial officer at the same address as our corporate secretary. These complaints or concerns will be forwarded to the chairman of our audit committee. We will investigate and keep these complaints or concerns confidential and anonymous, to the extent feasible, subject to applicable law. Information contained in such a complaint or concern may be summarized, abstracted and aggregated for purposes of analysis and investigation.

Compensation Committee Interlocks and Insider Participation. As discussed above, for 2025 the management development and compensation committee was composed of R. Gerald Turner, Cecil H. Moore, Jr. and John E. Harper. No member of the committee:

●

was an officer or employee of ours during 2025 or any prior year;

●

had any related party relationships with us that requires disclosure under applicable SEC rules; or

●

had any interlock relationships under applicable SEC rules.

For 2025, no executive officer of ours had any interlock relationships within the scope of the intent of applicable SEC rules. However, during 2025 Michael S. Simmons was an executive officer of ours and on the board of directors of Contran when concurrently also serving as one of our directors.

Code of Business Conduct and Ethics. We have adopted a code of business conduct and ethics. The code applies to all of our directors, officers and employees, including our principal executive officer, principal financial officer, principal accounting officer and controller. Only the board of directors may amend the code. Only our audit committee or other committee of the board of directors with specifically delegated authority may grant a waiver of this code. We intend to disclose changes to or waivers from the code by posting to our website at www.kronosww.com (under the investors-corporate governance section) if disclosure is required by SEC or NYSE rules.

Corporate Governance Guidelines. We have adopted corporate governance guidelines to assist the board of directors in exercising its responsibilities. Among other things, the corporate governance guidelines provide for director qualifications, for independence standards and responsibilities, for approval procedures for ISAs and that our audit committee chairman preside at all meetings of the non-management or independent directors.

Availability of Corporate Governance Documents. A copy of each of our audit committee charter, code of business conduct and ethics and corporate governance guidelines is available on our website at www.kronosww.com under the investors-corporate governance section.

Insider Trading Policy. We have adopted an insider trading policy governing the purchase, sale, and other transactions involving our securities by our directors, officers and employees. A copy of our insider trading policy is filed as Exhibit 19.1 to our Annual Report on Form 10-K for the fiscal year ended December 31, 2025. In addition, with regard to Kronos Worldwide’s trading in its own securities, it is our policy to comply with the federal securities laws and the applicable exchange listing requirements.

Employee, Officer and Director Hedging. We have not adopted any policies or practices regarding hedging of our equity securities by our employees (including officers) or directors. However, our employees (including officers) and directors must comply with our insider trading policy, which applies to hedging transactions involving our securities as it does to transactions in our securities generally.

-16-

COMPENSATION OF EXECUTIVE OFFICERS AND DIRECTORS

AND OTHER INFORMATION

Compensation Discussion and Analysis. This compensation discussion and analysis describes the key principles and factors underlying our executive compensation policies for our named executive officers. As defined in the Glossary of Terms at the beginning of this proxy statement, the phrase “named executive officers” refers to the six persons whose compensation is summarized in the 2025 Summary Compensation Table in this proxy statement. Such phrase is not intended to refer, and does not refer, to all of our executive officers.

Nonbinding Advisory Stockholder Vote on Executive Officer Compensation. For the 2025 annual meeting of stockholders, we submitted a nonbinding advisory proposal recommending the stockholders adopt a resolution approving the compensation of our named executive officers as disclosed in the 2025 proxy statement. At the annual meeting, the resolution received the affirmative vote of 87.6% of the shares of our common stock eligible to vote at the annual meeting. We considered the favorable result and determined not to make any material changes to our compensation practices.

Compensation of our Named Executive Officers Employed by Contran. All of our named executive officers were employed by Contran and provided their services to us pursuant to our ISA with Contran for each of the last three years. The nature of the duties of each of our executive officers who are employees of Contran is consistent with the duties normally associated with the officer titles and positions such officer holds with us.

We pay Contran a fee for services provided by Contran to us pursuant to our ISA with Contran, which fee was approved by our independent directors after receiving the recommendation of our management development and compensation committee and the concurrence of our chief financial officer. Such services provided under this ISA included the services of our named executive officers employed by Contran, and as a result a portion of the aggregate ISA fee we pay to Contran is paid with respect to the services provided to us by such named executive officers.

The charge under this ISA reimburses Contran for its cost of employing the personnel who provide the services by allocating such cost to us based on the estimated percentage of time such personnel were expected to devote to us over the year. The amount of the fee we paid for each year under this ISA for a person who provided services to us represents, in management’s view, the reasonable equivalent of “compensation” for such services. See the Intercorporate Services Agreements part of the Certain Relationships and Transactions section of this proxy statement for the aggregate amount we paid to Contran in 2025 under this ISA. Under the various ISAs among Contran and its subsidiaries and affiliates, we share the cost of the employment of our named executive officers employed by Contran with Contran and certain of its publicly and privately held subsidiaries. For our named executive officers employed by Contran, the portion of the annual charge we paid for each of the last three years to Contran under this ISA attributable to each of their services, as applicable, is set forth in the 2025 Summary Compensation Table in this proxy statement. As discussed further below, the amounts charged under the ISA are dependent upon Contran’s cost of employing or engaging the personnel who provide the services to us (including the services of our named executive officers) by allocating such cost to us based on the estimated percentage of time such personnel were expected to devote to us over the year. The amount charged under the ISA is not dependent upon our financial performance.

We believe the cost of the services received under our ISA with Contran, after considering the quality of the services received, is fair to us and is no less favorable to us than we could otherwise obtain from an unrelated third party for comparable services, based solely on our collective business judgment and experience without performing any independent market research.

In the early part of each year, Contran’s management, including certain of our named executive officers, estimates the percentage of time that each Contran employee, including our named executive officers, is expected to devote in the upcoming year to Contran and its subsidiaries and affiliates, including us. Contran’s management then allocates Contran’s cost of employing each of its employees among Contran and its various subsidiaries and affiliates based on such estimated percentages. Contran’s aggregate cost of employing each of its employees comprises:

●

the annualized base salary of such employee at the beginning of the year;

-17-

●

an estimate of the bonus Contran will pay or accrue for such employee (other than bonuses, if any, for specific matters) for the year, using as a reasonable approximation for such bonus the actual bonus that Contran paid or accrued for such employee in the prior year; and

●

Contran’s portion of the social security and medicare taxes on such base salary and an estimated overhead amount applied to the base salary for the cost of medical and life insurance benefits, unemployment taxes, disability insurance, defined benefit and defined contribution plan benefits, professional education and licensing and costs of providing an office, equipment and supplies related to providing such services. The estimated overhead amount for each employee is determined using a headcount-based methodology and is the same amount for each individual providing services under the ISA.

Contran’s senior management subsequently makes such adjustments to the details of the proposed ISA charge as they deem necessary for accuracy, overall reasonableness and fairness to us.

In the first quarter of each year reported in the 2025 Summary Compensation Table, the proposed charge for that year under our ISA with Contran was presented to our management development and compensation committee, and the committee considered whether to recommend that our board of directors approve the ISA charge. Among other things during such presentation, the committee was informed of:

●

the quality of the services Contran provides to us, including the quality of the services certain of our executive officers provide to us;

●

the comparison of the ISA charge and number of full-time equivalent employees reflected in the charge by department for the prior year and proposed for the current year;

●

the comparison of the prior year and proposed current year charges by department and in total and such amounts as a percentage of Contran’s similarly calculated costs for its departments and in total for those years;

●

the comparison of the prior year and proposed current year average hourly rate; and

●

the concurrence of our then-current chief financial officer as to the reasonableness of the proposed charge.

In determining whether to recommend that the board of directors approve the proposed ISA fee to be charged to us, the management development and compensation committee considers the three elements of Contran’s cost of employing the personnel who provide services to us, as discussed above, including the cost of employing our named executive officers, in the aggregate and not individually. After considering the information contained in such presentations, and following further discussion and review, our management development and compensation committee recommended that our board of directors approve the proposed ISA fee after concluding, based on their collective business judgment and experience without performing any independent market research, that:

●

the cost to employ the personnel necessary to provide the quality of the services provided by Contran would exceed the proposed aggregate fee to be charged by Contran to us under our ISA with Contran; and

●

the cost for such services would be no less favorable than could otherwise be obtained from an unrelated third party for comparable services.

In reaching its recommendation, our management development and compensation committee did not review:

●

any ISA charge from Contran to any other publicly held parent or sister company, although such charge was separately reviewed by the management development and compensation committee of the applicable company; and

-18-

●

the compensation policies of Contran or the amount of time our named executive officers are expected to devote to us because:

some of our named executive officers provide services to multiple companies related to Contran, including Contran itself, and the percentage of time devoted to each company by our named executive officers employed by Contran varies;

the fee we pay to Contran under our ISA with Contran each year does not represent all of Contran’s cost of employing each of our named executive officers;

Contran and these other companies related to Contran absorb the remaining amount of Contran’s cost of employing each of our named executive officers; and

the members of our management development and compensation committee consider the factors discussed above, applying their collective business judgment and experience, in determining whether to recommend that the proposed ISA fee for each year be approved by the full board of directors.

Based on the recommendation of our management development and compensation committee, as well as the concurrence of our then-current chief financial officer, our independent directors approved the proposed annual ISA charge effective January 1, 2025.

For financial reporting and income tax purposes, the ISA fee is expensed as incurred on a quarterly basis. Section 162(m) of the Code generally disallows an income tax deduction to publicly held companies for compensation over $1.0 million paid to the company’s chief executive officer, chief financial officer and three other most highly compensated executive officers. To the extent any individual’s charge to a publicly held company under the ISA was in excess of $1.0 million, the deductibility by the company of the charge for income tax purposes would be limited under Section 162(m), if such section were to be deemed applicable as it relates to the ISA. In each of 2023, 2024 and 2025 the ISA did include, and in 2026 the ISA will include, charges in excess of $1.0 million for certain individuals. However, Contran has agreed to absorb the impact of any such income tax deduction disallowance resulting from such charges in excess of $1.0 million.

No Director Fees or Equity-Based Compensation for Executive Officers. Our executive officers, including our named executive officers, are not eligible to receive cash or equity-based compensation for their service on our board of directors. For the years reflected in the 2025 Summary Compensation Table, we did not pay Mr. Simmons or Mr. Buch any compensation for their service as one of our directors.

Prior to 2023, we decided to forgo the grant of any equity compensation other than annual awards of stock to our directors, as discussed above. We also do not have any security ownership requirements or guidelines for our management, although we do have stock ownership guidelines for our non-employee directors. We do not currently anticipate any equity-based compensation will be granted in 2026, other than the annual grants of stock to our directors who are not employees of Contran or one of its subsidiaries or affiliates.

Compensation Committee Report. The management development and compensation committee has reviewed with management the Compensation Discussion and Analysis section in this proxy statement. Based on the committee’s review and a discussion with management, the committee recommended that our compensation discussion and analysis be included in this proxy statement.

The members of our management development and compensation committee submit the foregoing report as of February 25, 2026.

Management Development and Compensation Committee

R. Gerald Turner

Chairman of our Management Development and Compensation Committee

Cecil H. Moore, Jr.

Member of our Management Development and Compensation Committee

John E. Harper

Member of our Management Development and Compensation Committee

-19-

Summary of Cash and Certain Other Compensation of Executive Officers. The 2025 Summary Compensation Table below provides information concerning compensation we and our subsidiaries paid or accrued for services rendered during the last three years by a former executive officer who served as our only chief executive officer during 2025, our chief financial officer, a former executive officer who served as chief financial officer for a portion of 2025, and each of the three other most highly compensated individuals (based on ISA charges to us) who were our executive officers at December 31, 2025. All of our named executive officers were employees of Contran and provided their services to us and our subsidiaries pursuant to our ISA with Contran for each year in which they are included in the 2025 Summary Compensation Table. For a discussion of this ISA, see the Intercorporate Services Agreements part of the Certain Relationships and Transactions section of this proxy statement.

2025 Summary Compensation Table (1)


								All Other
Name and Principal Position	Year	Salary			Bonus		Compensation		Total

Michael S. Simmons (2)	2025	$	1,504,000	(3)	$	-0-	$	-0-	$	1,504,000
Vice Chairman of the Board	2024		932,000	(3)		-0-		-0-		932,000

Brian W. Christian (2)	2025		2,063,000	(3)		-0-		-0-		2,063,000
President and Chief Executive	2024		1,856,000	(3)		-0-		-0-		1,856,000
Officer	2023		1,690,000	(3)		-0-		-0-		1,690,000

John A. Sunny	2025		1,013,000	(3)		-0-		-0-		1,013,000
Executive Vice President and	2024		954,000	(3)		-0-		-0-		954,000
Chief Information Officer	2023		933,000	(3)		-0-		-0-		933,000

Bradley E. Troutman (2)	2025		420,000	(3)		-0-		-0-		420,000
Senior Vice President and
Chief Financial Officer

James M. Buch (2)	2025		2,293,000	(3)		-0-		-0-		2,293,000
Former Chief Executive Officer	2024		2,247,000	(3)		-0-		-0-		2,247,000
	2023		2,138,000	(3)		-0-		-0-		2,138,000

Tim C. Hafer (2)	2025		631,000	(3)		-0-		-0-		631,000
Former Executive Vice President and	2024		1,017,000	(3)		-0-		-0-		1,017,000
Chief Financial Officer	2023		1,022,000	(3)		-0-		-0-		1,022,000

(1)	Certain non-applicable columns have been omitted from this table.

(2)

Mr. Simmons is one of our named executive officers only for 2024 and 2025. Mr. Christian was elected as president and chief executive officer as of February 27, 2026, which was also the effective date of Mr. Buch’s retirement as our chief executive officer. Effective as of August 8, 2025, Mr. Hafer retired as our executive vice president and chief financial officer, and Mr. Troutman was elected as our senior vice president and chief financial officer. Mr. Troutman is one of our named executive officers only for 2025.

(3)

The amounts shown in the 2025 Summary Compensation Table as salary for each of the named executive officers represent the portion of the fees we paid pursuant to our ISA with Contran with respect to the services such officer rendered to us and our subsidiaries. The ISA charges disclosed for Contran employees who perform executive officer services for us and our subsidiaries are based on various factors described in the Compensation Discussion and Analysis section of this proxy statement. Our management development and compensation committee considers the factors described in the Compensation Discussion and Analysis section of this proxy statement in determining whether to recommend that our board of directors approve the aggregate proposed ISA fee with Contran. As discussed in the Compensation Discussion and Analysis section of this proxy statement, our management development and compensation committee does not consider any ISA charge from Contran to any other publicly held parent or sister company of ours, although such charge is separately reviewed by the management development and compensation committee of the applicable company.

No Grants of Plan-Based Awards. During 2025, no named executive officer received any plan-based awards from us or our subsidiaries.

-20-

No Outstanding Equity Awards at December 31, 2025. We have never granted any stock options to purchase shares of our common stock or shares of our common stock that were subject to vesting restrictions. At December 31, 2025, none of our named executive officers held any stock options exercisable for shares of common stock of our parent or subsidiary corporations or held any equity incentive awards for such shares. We do not have policies or practices on the timing of awards of options in relation to the disclosure of material nonpublic information because we do not award options.

No Option Exercises or Stock Vested. None of our named executive officers held shares of our stock or of our parent or subsidiary corporations that were subject to vesting restrictions in 2025. During 2025, no named executive officer exercised any stock options issued by us.

Pension Benefits. We do not have any defined benefit pension plans in which our named executive officers participate.

Nonqualified Deferred Compensation. We do not owe any nonqualified deferred compensation to our named executive officers.

Pay Ratio Disclosure. SEC rules require annual disclosure of the ratio of a registrant’s median employee’s annual total compensation to the total annual compensation of its chief executive officer. For 2025, the total annual compensation (as disclosed in the 2025 Summary Compensation Table) of James M. Buch, our former executive officer who served as our chief executive officer during all of 2025, is $2,293,000; the reasonable estimate of the median of the annual total compensation of all of our employees except our chief executive officer, calculated in a manner consistent with Item 402(u) of Regulation S-K, is $98,112, and the ratio of such two amounts is 23 to 1.

For purposes of this disclosure, our “median employee” was estimated using a simple random sample statistical sampling technique, pursuant to which we and each of our consolidated subsidiaries worldwide selected every seventh employee listed on their first payroll register for the month of October 2023. Based on the random sample of our employees, and using the 2023 base salary (or equivalent for hourly employees) for each employee in the random sample as reflected in our payroll records, the median employee was estimated by determining the employee in such random sample who had the median 2023 base salary (or equivalent for hourly employees). Base salary (or equivalent) amounts were annualized for any employee who had less than a full year of service during 2023. In determining the median employee, we used the applicable average exchange rates for the month of October 2023. There has been no change in our employee population or employee compensation arrangements since that median employee was identified that we believe would significantly impact our pay ratio disclosure. For providing the median employee’s annual total compensation in U.S. dollars, we used the applicable average exchange rate for all of 2025.

Director Compensation. Our directors who are not employees of Contran or one of its subsidiaries or affiliates are eligible for cash compensation for their service as one of our directors. The table below reflects the annual rates of their retainers for 2025.


		2025 Director
		Retainers
Each director		$	50,000

Chair of the board		$	50,000

Chairman of our audit committee and any member of our audit committee whom the board identified as an “audit committee financial expert” (provided that if one person served in both capacities only one such retainer was paid)		$	45,000

Other members of our audit committee		$	25,000

Members of our other committees		$	5,000

Additionally, our eligible directors receive a fee of $1,000 per day for attendance at meetings of the board of directors or its committees and an hourly rate (not to exceed $1,000 per day) for other services rendered on behalf of our board of directors or its committees. If a non-employee director who was first elected to our board prior to 2022 dies

-21-

while serving on our board of directors, his or her designated beneficiary or estate will be entitled to receive a death benefit equal to the annual retainer then in effect. We reimburse our directors for reasonable expenses incurred in attending meetings and in the performance of other services rendered on behalf of our board of directors or its committees.

As preapproved by our management development and compensation committee, on the day of each of our annual stockholder meetings, each of our eligible directors elected on that day receives a grant of shares of our common stock under our 2012 Director Stock Plan, with the number of shares received by each eligible director equal in value to $20,000 (rounded up or down to the nearest 50 shares), based on the closing price of a share of our common stock on the date of grant, but not more than 10,000 shares. These shares are fully vested and tradable immediately on their date of grant, other than restrictions under applicable securities laws. Our corporate governance guidelines include stock ownership guidelines for our non-employee directors (that is, directors who are not employed by us or one of our affiliates), which provide that non-employee directors may not sell shares of our common stock acquired as part of the annual stock grants unless, immediately after any such sale, they will hold a number of shares of our common stock (including shares owned by their immediate family members residing in the same household) having a value of at least three times our base annual cash retainer for service as a director.

The following table provides information with respect to compensation each of our eligible directors earned for their 2025 director services provided to us.

2025 Director Compensation (1)


	Fees Earned or
Name	Paid in Cash (2)		Stock Awards (3)		Total

Loretta J. Feehan	$	108,000	$	20,076	$	128,076
John E. Harper		108,000		20,076		128,076
Kevin B. Kramer		83,000		20,076		103,076
Meredith W. Mendes		103,000		20,076		123,076
Cecil H. Moore, Jr.		107,000		20,076		127,076
R. Gerald Turner		88,000		20,076		108,076

(1)	Certain non-applicable columns have been omitted from this table.

(2)	Represents cash retainers and meeting fees the director earned for director services he or she provided to us in 2025.

(3)

Represents the value of 2,800 shares of our common stock we granted to each of these directors on May 14, 2025. For the purposes of this table, we valued these stock awards at the $7.17 closing price per share of such shares on their date of grant, consistent with the requirements of Financial Accounting Standards Board Accounting Standards Codification Topic 718.

-22-

Pay Versus Performance. The Pay Versus Performance Table below summarizes compensation values previously reported in the Summary Compensation Table of our proxy statements and other information, as required by SEC rules. We did not use any specific financial performance measures to link executive compensation of our named executive officers to company performance for 2025; see the discussion in the Compensation Discussion and Analysis section of this proxy statement. As used in this section (including the charts below), “NEOs” means the persons designated in our proxy statement as our named executive officers for the applicable year, and “PEO” means our principal executive officer.

Pay Versus Performance Table

(a)

(b)

(b-2)

(c)

(c-2)

(d)

(e)

(f)

(g)

(h)

Average

Value of Initial Fixed $100

Summary

Average

Investment Based on:

Compensation

Kronos

Peer

Table

Actually

Table

Actually

Worldwide

Group

Net

Total for

Paid to

Total for

Paid to

Total

Income

PEO

Non-PEO

Shareholder

SEC Form DEF 14A filed by Kronos Worldwide Inc