PAY VERSUS PERFORMANCE DISCLOSURE

The following table provides information on compensation for the principal executive officer (“PEO”), the average compensation for the other Named Executive Officers (“Non-PEO NEOs”) and certain measures of the Company’s financial performance for the last three fiscal years ended December 30, 2022:


									Value of Initial Fixed $100 Investment Based on:
Year	Summary Compensation Table Total for PEO ($)(1)		Compensation Actually Paid to PEO ($)(1)(2)		Average Summary Compensation Table Total for Non-PEO NEOs ($)(1)		Average Compensation Actually Paid to Non-PEO NEOs ($)(1)(2)		Total Shareholder Return (3)		Peer Group Total Shareholder Return (4)		Net Income ($ '000) (5)		EBITDA ($ '000) (6)
2022		3,589,062		2,322,702		1,626,994		1,245,805		145		118		102,330		137,217
2021		3,022,417		5,151,590		1,500,913		2,165,705		169		141		101,202		132,258
2020		2,674,793		4,300,765		1,362,236		1,938,548		129		111		82,552		102,102

(1)

Dr. Corrigan was the PEO in 2022, 2021 and 2020. Mr. Schlenker, Dr. Murray, Dr. Reitman and Dr. Pye were the non-PEO NEOs in 2022. Mr. Schlenker, Dr. Murray, Dr. Reitman and Dr. Doyle were the non-PEO NEOs in 2021. Mr. Schlenker, Dr. Murray, Dr. Reitman and Dr. James were the non-PEO NEOs in 2020.

(2)

The value of the “compensation actually paid” to our PEO and Non-PEO NEOs reflect the following adjustments from the Summary Compensation Table:


Compensation Actually Paid Adjustment Summary	Principal Executive Officer (PEO)									NON PEO Named Executive Officers (NEO) (average)
	2022			2021			2020			2022			2021			2020
Summary Compensation Table (SCT) Total	$	3,589,062		$	3,022,417		$	2,674,793		$	1,626,994		$	1,500,913		$	1,362,236
Stock and option award values reported in the SCT	$	(1,799,624	)	$	(1,306,442	)	$	(1,313,446	)	$	(689,978	)	$	(598,564	)	$	(533,908	)
The year-end fair value of any outstanding and unvested stock awards granted during the year	$	630,014		$	472,173		$	558,636		$	309,756		$	439,051		$	302,614
The year-end fair value of any outstanding and unvested option awards granted during the year	$	829,168		$	823,548		$	565,645		$	138,195		$	137,255		$	94,274
The change in fair value as of the vesting date (from the end of the prior year) of any stock awards that vest during the year	$	(151,729	)	$	64,616		$	46,330		$	(101,156	)	$	39,656		$	12,486
The change in fair value as of the vesting date (from the end of the prior year) of any option awards that vest during the year	$	(639,842	)	$	121,119		$	226,967		$	(122,616	)	$	23,925		$	43,974
The change in year-end fair value (from the end of the prior year) of any outstanding and unvested stock awards granted in prior years	$	(304,608	)	$	552,717		$	430,383		$	(138,787	)	$	276,298		$	281,911
The change in year-end fair value (from the end of the prior year) of any outstanding and unvested option awards granted in prior years	$	(429,807	)	$	1,001,391		$	691,441		$	(71,635	)	$	182,601		$	147,438
'The dollar value of stock awards that were both granted and vested during the year	$	600,068		$	400,051		$	420,016		$	295,032		$	164,570		$	227,523
The dollar value of any dividends or other earnings paid on stock or option awards during the year (prior to vesting) that are not otherwise reflected		—			—			—			—			—			—
Compensation Actually Paid	$	2,322,702		$	5,151,590		$	4,300,765		$	1,245,805		$	2,165,705		$	1,938,548

(3)

Amounts represent the cumulative Total Shareholder Return ("TSR") for Exponent calculated and presented as the dollar value of an investment of $100 made on January 1, 2020, assuming dividend reinvestment.

(4)

Amounts represent the cumulative TSR for the S&P 600 Small Cap Index as "Peer Group" calculated and presented as the dollar value of an investment of $100 made on January 1, 2020, assuming dividend reinvestment.

(5)

Net Income is calculated in accordance with generally accepted accounting principles.

(6)

EBITDA is our company-selected measure and is defined as net income before income taxes, interest income, depreciation and amortization.

Named Executive Officers, Footnote [Text Block]

(1)

Dr. Corrigan was the PEO in 2022, 2021 and 2020. Mr. Schlenker, Dr. Murray, Dr. Reitman and Dr. Pye were the non-PEO NEOs in 2022. Mr. Schlenker, Dr. Murray, Dr. Reitman and Dr. Doyle were the non-PEO NEOs in 2021. Mr. Schlenker, Dr. Murray, Dr. Reitman and Dr. James were the non-PEO NEOs in 2020.

PEO Total Compensation Amount

$ 3,589,062

$ 3,022,417

$ 2,674,793

Adjustment To PEO Compensation, Footnote [Text Block]


Compensation Actually Paid Adjustment Summary	Principal Executive Officer (PEO)									NON PEO Named Executive Officers (NEO) (average)
	2022			2021			2020			2022			2021			2020
Summary Compensation Table (SCT) Total	$	3,589,062		$	3,022,417		$	2,674,793		$	1,626,994		$	1,500,913		$	1,362,236
Stock and option award values reported in the SCT	$	(1,799,624	)	$	(1,306,442	)	$	(1,313,446	)	$	(689,978	)	$	(598,564	)	$	(533,908	)
The year-end fair value of any outstanding and unvested stock awards granted during the year	$	630,014		$	472,173		$	558,636		$	309,756		$	439,051		$	302,614
The year-end fair value of any outstanding and unvested option awards granted during the year	$	829,168		$	823,548		$	565,645		$	138,195		$	137,255		$	94,274
The change in fair value as of the vesting date (from the end of the prior year) of any stock awards that vest during the year	$	(151,729	)	$	64,616		$	46,330		$	(101,156	)	$	39,656		$	12,486
The change in fair value as of the vesting date (from the end of the prior year) of any option awards that vest during the year	$	(639,842	)	$	121,119		$	226,967		$	(122,616	)	$	23,925		$	43,974
The change in year-end fair value (from the end of the prior year) of any outstanding and unvested stock awards granted in prior years	$	(304,608	)	$	552,717		$	430,383		$	(138,787	)	$	276,298		$	281,911
The change in year-end fair value (from the end of the prior year) of any outstanding and unvested option awards granted in prior years	$	(429,807	)	$	1,001,391		$	691,441		$	(71,635	)	$	182,601		$	147,438
'The dollar value of stock awards that were both granted and vested during the year	$	600,068		$	400,051		$	420,016		$	295,032		$	164,570		$	227,523
The dollar value of any dividends or other earnings paid on stock or option awards during the year (prior to vesting) that are not otherwise reflected		—			—			—			—			—			—
Compensation Actually Paid	$	2,322,702		$	5,151,590		$	4,300,765		$	1,245,805		$	2,165,705		$	1,938,548

Non-PEO NEO Average Compensation Actually Paid Amount

$ 1,245,805

2,165,705

1,938,548

Compensation Actually Paid vs. Net Income [Text Block]

Relationship Between CAP and Company Net Income Compensation Actually Paid ($) 5,000,000 4,000,000 3,000,000 2,000,000 1,000,000 0 2020 2021 2022 120 100 80 60 40 20 - Net Income (dollars in millions) PEO Actual Pay Ave. Non-PEO Actual Pay Net Income

Total Shareholder Return Vs Peer Group [Text Block]

Relationship Between CAP and Company TSR and Peer Group TSR Compensation Actually Paid ($) 5,000,000 4,000,000 3,000,000 2,000,000 1,000,000 0 2019 2020 2021 2022180 160 140 120 100 80 60 40 20 - Total Shareholder Return PEO Actual Pay Company TSR Ave. Non-PEO Actual Pay Peer Group TSR