Company: CENX
Filing Date: 2025-04-25
Form Type: DEF 14A
Source: 0001552781-25-000153
Chunk: 43

Company: CENTURY ALUMINUM CO
Filing Date: 2025-04-25
Form: DEF 14A
Chunk 43
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 future grant under the Existing Plan assumes currently 
 outstanding PSUs will vest at target payout. As of the approval date of the Plan, the share     
 authorization under the Plan will be reduced by the number of shares granted under the Existing 
 Plan after March 1, 2025 and prior to the approval date.                                        |

In setting the number of shares to authorize under the Plan, the Compensation Committee considered the historical number of equity awards granted under the Existing Plan, as well as the Company’s three-year average burn rate for the preceding three fiscal years as follows:

| Fiscal     
 Year       | Stock   
 Options 
 Granted 
 (A)     |        Full-Value 
            Awards 
 (RSUs Granted and 
      PSUs Vested) 
               (B) |     Total 
 (A) + (B) |            Basic 
 Weighted Average 
    Common Shares 
      Outstanding 
    (in millions) | Burn  
 Rate  |
| 2024       | —       |           954,070 |   954,070 |             92.8 | 1.03% |
| 2023       | —       |           812,534 |   812,534 |             92.4 | 0.88% |
| 2022       | —       |           558,211 |   558,211 |             91.4 | 0.61% |
| Three-year 
 average    |         |                   |           |                  | 0.84% |

As of the record date, there were 93,296,937 shares of common stock outstanding. Description of the Plan The following description of the Plan summarizes the material terms of the Plan; however, it does not purport to be complete and is qualified in its entirety by reference to the Plan attached as Annex A to this Proxy Statement. Term and Effective Date The Plan will become effective on the date our stockholders approve the Plan, which, if the Plan is approved at the Annual Meeting, will be June 16, 2025. No awards may be made or granted after the tenth anniversary of the Plan’s effective date. Administration The Plan will be administered by the Compensation Committee, which is composed entirely of directors who are “non-employee directors” under the rules adopted under Section 16 of the Exchange Act and are independent under the rules of Nasdaq. The Compensation Committee has the power and authority to construe and interpret the Plan, select the individuals who will receive awards from among eligible