Company: TRUE
Filing Date: 2025-04-08
Form Type: DEF 14A
Source: 0001104659-25-033025
Chunk: 51

Company: TrueCar, Inc.
Filing Date: 2025-04-08
Form: DEF 14A
Chunk 51
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 such eligible compensation exceeds the amount of eligible compensation that otherwise would have been received had such eligible compensation been determined based on the restated amounts. In addition, in 2018, we adopted a clawback policy, which we refer to as the clawback policy, applicable to our executive officers which still applies to incentive compensation received prior to October 2, 2023. If our compensation committee determines that an officer’s misconduct caused us to materially restate all or a portion of our financial results, under certain circumstances our compensation committee has the authority and discretion to pursuant to the clawback policy, within a period of time following the material restatement, require the officer to repay incentive compensation that would not have been payable absent the material restatement. Incentive compensation for purposes of this policy means an officer’s cash bonus and long-term equity-based compensation where the award size or vesting was contingent on our performance. Equity Grant Timing and Equity Plan Information We do not have a formal policy for the timing of equity award grants. Beginning in 2018, our compensation committee determined to initiate a practice of granting equity awards to our executive officers annually in the first half of the year, although grants may occur at other times during the year, including for new hires, promotions, to address special retention needs or otherwise as determined appropriate by the compensation committee. We do not havea program, plan or practice to time our equity grants in coordination with the release of material, non-public information. We currently grant equity awards to the NEOs under the 2023 Plan. Taxation of “Parachute” Payments Sections 280G and 4999 of the Code provide that executive officers, directors who hold significant equity interests and certain other service providers may be subject to significant additional taxes if they receive payments or benefits in connection with a change of control that exceed certain prescribed limits, and that we (or our successor) may forfeit a deduction on the amounts subject to this additional tax. We did not provide any executive, including any NEO, with a gross up or other reimbursement payment for any tax liability that the executive might owe as a result of the application of Sections 280G or 4999 of the Code during 2024 and we have not agreed and are not otherwise obligated to provide any executive with such a gross up or other reimbursement. 35 TABLE OF CONTENTS Compensation Discussion and Analysis 2025 ANNUAL PROXY STATEMENT Compensation Committee Report The compensation committee has reviewed and discussed with management the above Compensation Discussion and Analysis. Based on that review