Company: PRMB
Filing Date: 2025-01-24
Form Type: S-1
Source: 0001193125-25-012325
Chunk: 197

Company: Primo Brands Corp
Filing Date: 2025-01-24
Form: S-1
Chunk 197
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 Mr. Austin and Ms. Kim remain outstanding and, to the extent unvested, eligible to vest, following the Transaction.

In connection with the Transaction, we adopted the Primo Brands Corporation Equity Incentive Plan, (the “Primo Brands Equity
Plan”) which provides the Company with the flexibility to design compensatory awards responsive to Primo Brands’ business needs and goals. Awards under the Primo Brands Equity Plan may be in the form of stock options, stock appreciation
rights, restricted shares, restricted share units, performance shares, performance units or unrestricted shares, and other stock or cash-based awards, including the payment of performance bonuses in shares of Class A common stock (the Legacy
Equity Plans, together with the Primo Brands Equity Plan, the “Equity Plans”). In December 2024, each of our named executive officers received an equity award for the 2025 annual grant cycle, consisting of
performance-based restricted share units (“PSUs”) (66%) and time-based restricted share units (“RSUs”) (34%).

The compensation structure for our named executive officers is intended to balance the need of these executives for current income with the
need to create long-term incentives, including the PSUs granted in December 2024, that are directly tied to achievement of our operational targets and growth in shareholder value.

137

Compensation Components For 2024, the principal compensation components for Primo Brands’ named executive officers consisted of the following:

| Compensation Component                                                                               |     | Compensation Objective Designed to be Achieved                                                                                                                                                                                   |
| Base salary                                                                                          |     | Fixed pay that takes into account an individual’s role and responsibilities, experience, expertise, and individual performance, and compensates named executive officers for services rendered during the fiscal year.           |
| Annual cash performance bonuses                                                                      |     | Performance-based compensation that is paid to reward attainment of annual corporate targets, or specific strategic goals.                                                                                                       |
| Long-term equity incentive awards                                                                    |     | Equity compensation that reinforces the link between incentives and long-term performance of Primo Brands (or its applicable predecessor) incentivizes our named executive officers, aligns the interests of our named executive 
 officers with those of shareholders, and encourages executive retention.                                                                                                                                                         |
| Retirement benefits                                                                                  |     | Retirement benefits that provide the opportunity for financial security in retirement consistent with programs for our broad-based employee population, including appropriate matching                                           
 contributions.                                                                                                                                                                                                                   |
| Perquisites and benefits                                                                             |     | Perquisites and benefits that effectively facilitate job performance.