Company: CENX
Filing Date: 2025-04-25
Form Type: DEF 14A
Source: 0001552781-25-000153
Chunk: 41

Company: CENTURY ALUMINUM CO
Filing Date: 2025-04-25
Form: DEF 14A
Chunk 41
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 of Directors of the Company that it adopt a new plan in order for the Company to continue to have the ability to offer equity as part of the Company’s overall compensation program. Subject to adjustment and the share usage provisions further described below, the maximum number of shares that may be issued pursuant to awards granted under the Plan will be 5,519,839, which consists of 1,681,839 shares that remain available for grant under the Existing Plan as of March 1, 2025 plus 3,838,000 newly reserved shares, less one share for every share subject to an award that is granted under the Existing Plan after March 1, 2025 and prior to the date of the Annual Meeting. No additional grants will be made under the Existing Plan if the Plan is approved. Rationale for Implementing the Plan The Board believes that the adoption of the Plan is desirable and in the best interests of the Company and its stockholders. The Plan is intended to promote and closely align the interests of officers and key employees of the Company and its stockholders by continuing the ability for the Company to award to stock-based compensation, including performance-based equity compensation, while not causing unreasonable dilution to stockholders. The Plan includes important features that are designed to serve our stockholders’ interests as described below. The continued ability to offer equity-based compensation also is a critical factor in attracting, motivating and retaining qualified employees who will contribute to our financial success, thereby advancing the interests of the Company and its stockholders. Additionally, the Plan will provide the flexibility to grant awards to our non-employee directors. Therefore, the Board views the Plan as a key component of the Company’s compensation program. In setting the proposed number of shares to be reserved and issuable under the Plan, the Compensation Committee and the Board of Directors considered a number of factors, which included the following:

| • | Expected                                                                                   
 duration of shares available for issuance under the Plan. Based on the requested           
 number of shares to be reserved under the Plan (including the anticipated number of shares 
 to be transferred from the Existing Plan to the Plan) and on our three-year average burn   
 rate, we expect that the share reserve will cover awards under the Plan for approximately  
 six years. We believe the expected life of the share reserve is reasonable and will ensure 
 sufficient availability for equity awards.                                                 |

| 2025            
 Proxy Statement | 59 |

Proposal No. 4

We define fully diluted overhang as the sum of (1) the number of shares