Company: CIO
Filing Date: 2025-03-12
Form Type: DEF 14A
Source: 0001193125-25-052437
Chunk: 61

Company: City Office REIT, Inc.
Filing Date: 2025-03-12
Form: DEF 14A
Chunk 61
---
 amounts listed below. The market value of the amount to be earned upon vesting is based on the closing price of our common stock on the NYSE on December 31, 2024, which was $5.52 per share, and restricted stock units and Performance RSU Awards that have not vested, including dividend equivalents thereon, in the amounts of: (i) 68,447 restricted stock units granted on January 25, 2022; (ii) 113,797 restricted stock units granted on January 24, 2023; and (iii) 187,494 restricted stock units granted on January 24, 2024. Excludes dividend equivalency rights reflected as in-kind payments of additional Performance RSU Awards upon each regular common stock dividend payment. During the year ended December 31, 2024, Messrs. Farrar and Tylee were each issued 17,197 in-kind awards in respect of the dividend equivalency rights with a grant date fair value of $91,017. |

| (3) | Included in this number are restricted stock units granted on the dates and in the amounts listed below. The market value of the amount to be earned upon vesting is based on the closing price of our common stock on the NYSE on December 31, 2024, which was $5.52 per share, and restricted stock units and Performance RSU Awards that have not vested, including dividend equivalents thereon, in the amounts of: (i) 24,312 restricted stock units granted on January 25, 2022; (ii) 47,414 restricted stock units granted on January 24, 2023; and (iii) 78,122 restricted stock units granted on January 24, 2024. Excludes dividend equivalency rights reflected as in-kind payments of additional Performance RSU Awards upon each regular common stock dividend payment. During the year ended December 31, 2024, Mr. Maretic was issued 7,091 in-kind awards in respect of the dividend equivalency rights with a grant date fair value of $37,527. |

42

Change in Control Pursuant to each NEO’s employment agreement with us, in the event of a change in control of the Company, all outstanding awards granted to the NEO under the EIP fully vest immediately upon the change in control. In addition, if the NEO resigns for good reason within twelve months of a change in control, subject to the execution by the NEO