Company: CL
Filing Date: 2025-03-26
Form Type: DEF 14A
Source: 0001308179-25-000223
Chunk: 31

Company: COLGATE PALMOLIVE CO
Filing Date: 2025-03-26
Form: DEF 14A
Chunk 31
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 Resources function and the CEO. Stock Option and Time-Based RSU Grants During 2024, the stock option and time-based RSU grants to the Named Officers were at our guideline award level except for Ms. Parameswaran, whose awards were 25% above the guideline award level in recognition of her contributions and to ensure her continued service to the Company in her key operational role. See columns (i) and (j) of the Grants of Plan- Based Awards Table for the number of time-based RSUs and stock options, respectively, granted to the Named Officers in 2024. Mr. Wallace’s awards for 2024 were 145,696 stock options and 20,689 time-based RSUs, both consistent with the pre-established guideline. Stock Option Terms Stock options vest in equal annual installments over three years, the exercise price of the stock options is equal to the closing price of our Common Stock on the date of grant and the term of the stock options is eight years. Unvested stock options are forfeited if the recipient terminates their employment, other than through retirement, death or disability. For more information regarding the effect of various types of termination of employment on the vesting of stock options, see page 54.

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Executive Compensation Time-Based RSU Terms Time-based RSU awards vest in equal annual installments over three years and are distributed as shares of Common Stock upon vesting. Unvested awards are forfeited if the recipient terminates their employment, other than through retirement, death or disability. For more information regarding the effect of various types of termination of employment on the vesting of time-based RSUs, see page 54. Recipients of time-based RSU awards do not have voting rights or receive dividends until the awards vest. During the vesting period, dividend equivalents in the form of additional RSUs accrue at the same rate that dividends are paid on our Common Stock, to be distributed as shares together with the underlying award. Performance-Based Restricted Stock Unit Awards Awards Under our Growth Performance Plan, executives, including the Named Officers, receive PBRSUs at the beginning of each three-year performance cycle. Each year, at the beginning of a three-year performance cycle, the P&O Committee approves a set of performance goals and a target award expressed in dollars, which is converted into PBRSUs by dividing the dollar value by the closing price of our Common Stock on the grant date. The number of PBRSUs that are earned and vest at the end of the performance period will