Company: CHEF
Filing Date: 2025-03-26
Form Type: DEF 14A
Source: 0001517175-25-000003
Chunk: 47

Company: Chefs' Warehouse, Inc.
Filing Date: 2025-03-26
Form: DEF 14A
Chunk 47
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 the granting of long-term equity incentive (“LTI”) compensation, consisting of time-based restricted stock awards and performance-based restricted stock awards, to each of our named executive officers.

For these stock awards (the “2024 Grant”), the target LTI award value was set at 300% of base salary for Mr. C. Pappas and Mr. J. Pappas, and 150% of base salary for Mr. Leddy, Mr. Aldous and Ms. Polychroni. Once the target award value was established, the Compensation Committee decided that a significant percentage of the awards for the named executive officers should be performance-based. Accordingly, the Compensation Committee determined the mix of LTI awards would consist of 70% performance-based restricted stock awards for Mr. C. Pappas and Mr. J. Pappas and 50% performance-based restricted stock awards for Messrs. Leddy and Aldous and Ms. Polychroni, to motivate the executives to achieve our corporate objectives and enhance stockholder value and 30% time-based restricted stock awards for Mr. C. Pappas and Mr. J. Pappas and 50% time-based restricted stock awards for Messrs. Leddy and Aldous and Ms. Polychroni, to support retention objectives. While the Compensation Committee determined not to make any changes to the performance measures

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used for LTI awards in 2024, the Compensation Committee decided to increase the weight of AEBITDA to place a greater emphasis on the bottom-line growth of the Company. The measures for the performance-based restricted stock awards (the “2024 PRSA Grant”) included the Company’s share price (15% of the award target), ROIC (15% of the award target) and AEBITDA (70% of the award target). The 2024 PRSA Grant can payout up to a maximum of 200% of the target shares.

The respective target values and number of shares (determined based upon a 30-day trailing average of the grant date share price of $34.45) of the 2024 Grant at target and at maximum (200% of target), were as follows:

| Name                 |     | 2024 RSA Value ($) |     | 2024 RSA Shares (#) |     | 2024 PSA Target Value ($) |     | 2024 PSA Shares at Target (#) |     | 2024 PSA Shares at Max (#