Company: CAVA
Filing Date: 2025-04-25
Form Type: DEF 14A
Source: 0001628280-25-019936
Chunk: 25

Company: CAVA GROUP, INC.
Filing Date: 2025-04-25
Form: DEF 14A
Chunk 25
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, Inc.262025 Proxy Statement
includes sales of food and beverage in our CAVA restaurants and consumer packaged goods sales. Please see the Company’s Annual Report on Form 10-K for the fiscal year ended December 29, 2024 for additional information.

The Committee chose Adjusted EBITDA because it reflects an important short-term goal of improving our operating profitability and is a metric that our stockholders use to evaluate the Company’s performance. The Committee chose Revenue because it aligns with business goals to expand market share and attract new customers and placed a lesser emphasis on it than Adjusted EBITDA because Adjusted EBITDA ensures sustainable profitability, not just growth. The Adjusted EBITDA and Revenue goals under the CAVA Short-Term Incentive Plan were established at the beginning of the fiscal year and approved by our Board of Directors.

Individual performance of the CEO and the other NEOs is assessed based on how their individual performance supports the achievement of the Company’s strategic objectives that are tied to the NEO’s area of responsibility. This allows annual incentive awards to be differentiated on the basis of individual performance and aligns compensation with the achievement of key non-financial initiatives. The individual performance of the CEO is evaluated by the Committee. The CEO evaluates the performance of each other NEO and recommends performance ratings which are approved by the Committee.

The following table sets forth the target achievement levels and the actual fiscal 2024 results with respect to each of the financial metrics included in the CAVA Short-Term Incentive Plan. For the attainment of Revenue and Adjusted EBITDA within the range of each percentage referenced below, the Company interpolates the actual amounts payable. The Company’s Adjusted EBITDA and Revenue targets for fiscal 2024 under the CAVA Short-Term Incentive Plan were $88.9 million and $866.2 million, respectively, which represented a 20.5% increase and 18.9% increase, respectively, over the Company’s fiscal 2023 results.

| Metric                      |     | Weighting 
 (%)       |    |   | Threshold  
 25% payout 
 ($)        |             |     | Target      
 100% payout 
 ($)         |             |     | Maximum     
 200% payout 
 ($)         |             |     | Actual Results 
 ($)            |             |     | Payout (% of Target) |     |   |
| Adjusted EBITDA             |     |           | 67 | % |            |  75,605