Company: PRMB
Filing Date: 2025-01-24
Form Type: S-1
Source: 0001193125-25-012325
Chunk: 192

Company: Primo Brands Corp
Filing Date: 2025-01-24
Form: S-1
Chunk 192
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’ Chief Executive Officer. To assist in executing its responsibilities, our Compensation Committee may retain independent compensation consultants, at Primo
Brands’ expense, who will report solely to our Compensation Committee. Changes to the compensation of the Chief Executive Officer of Primo Brands will be recommended to the independent members of the Board by the Compensation Committee, and the
Board will review and approve any changes deemed appropriate.

Setting Executive Compensation and the Role of Executive Officers in Compensation Decisions

Prior to the Transaction

Prior to the Transaction, the compensation committee of Primo Water, annually and as it otherwise deemed appropriate, met with its Chief
Executive Officer and its Chief Human Resources Officer to obtain recommendations with respect to its compensation programs and packages for Mr. Hass and Ms. Poe. Further, from time to time, its Chief Executive Officer and Chief Human
Resources Officer made recommendations to its compensation committee on base salary, long-term incentive plan awards, performance targets, and other compensation terms for such executive officers that its compensation committee considered. The
compensation committee of Primo Water considered management’s proposals, reviewed independent data to validate these recommendations and, if acceptable, approved them. The compensation committee of Primo Water was not bound to, and did not
always accept, management’s recommendations with respect to executive compensation for Mr. Hass and Ms. Poe.

The
compensation committee of Primo Water engaged Frederic W. Cook & Co., Inc (“FW Cook”), a compensation consultant, to provide executive compensation advisory services, to help evaluate Primo Water’s compensation philosophy and
objectives and to provide guidance in administering Primo Water’s executive compensation program for fiscal year 2024. FW Cook only performed work for and reported directly to the compensation committee of Primo Water and attended the
compensation committee meetings as requested. FW Cook provided recommendations to the compensation committee of Primo Water on the competitiveness and appropriateness of all elements of executive compensation, including equity incentive
compensation. FW Cook did not provide any additional services to the Board or management of Primo Water in 2024.

Prior to the
Transaction, the compensation committee of Primo Water reviewed compensation data and pay practices from Primo Water’s peer group and general industry surveys to determine the “market median” of the compensation of executives
performing similar functions in the competitive market and in Primo Water’s peer group. However, the board and the compensation committee of Primo Water retained discretion in setting the compensation for its Chief Executive Officer and its
other executive officers, respectively. As a