Company: TIPT
Filing Date: 2025-03-17
Form Type: DEF 14A
Source: 0001393726-25-000038
Chunk: 40

Company: TIPTREE INC.
Filing Date: 2025-03-17
Form: DEF 14A
Chunk 40
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 the Company, plus significant non-recurring expenses consisting of acquisition, start-up and disposition costs, including debt extinguishment, legal, taxes, banker fees and other costs, and plus unrealized gains (losses) on available for sale securities, the pre-tax gain recorded directly to stockholders’ equity related to the 2022 $200 million strategic investment in Fortegra by WP Falcon Aggregator, L.P. (a Delaware limited partnership affiliated with funds advised or managed by Warburg Pincus LLC) (the “WP Transaction”) and changes in unrealized currency translation adjustments reported in other comprehensive income.

The CNG Committee believes Adjusted EBITDA reflects a total return of the Company’s income from business operations, investment activity and capital allocation to assets.

Incentive Compensation-Pool Determination — Other NEOs

On January 1, 2024, Messrs. Maultsby and McKinney were granted 183,333 and 137,500 PRSUs, respectively with a $70 share price target (adjusted for dividends) as the vesting criteria. For Mr. Rifkind, his bonus pool is allocated 80% in cash and 20% in the form of matching RSUs that cliff vest after three years and deliver two shares of Tiptree stock for each RSU. The actual bonus amount for each applicable executive was determined by the CNG Committee in its discretion in consultation with the Executive Committee, based 50% on the Company’s Adjusted EBITDA relative to the prior year and 50% on the CNG Committee’s qualitative assessment of individual performance for 2024 considering the NEO’s role, leadership responsibilities and retention considerations.

Incentive Compensation-Performance-Based Annual Cash Incentive Awards — Executive Committee and Other NEOs

For 2024, the performance-based annual cash incentive award allocation to the Executive Committee was as follows:

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| Name           |     | Annual Cash Incentive Award |
| Michael Barnes |     |                          $0 |
| Jonathan Ilany |     |                  $2,001,319 |
| Total          |     |                  $2,001,319 |

For 2024, the performance-based annual cash incentive award allocation to the other NEOs were as follows:

| Name           |     | Annual Cash Incentive Award |
| Randy Maultsby |     |                  $1,750,000 |
| Scott McKinney |     |                  $1,250,000 |
| Neil