Company: TRUE
Filing Date: 2025-04-08
Form Type: DEF 14A
Source: 0001104659-25-033025
Chunk: 40

Company: TrueCar, Inc.
Filing Date: 2025-04-08
Form: DEF 14A
Chunk 40
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 financial and industry/business parameters to best reflect a group of companies most similar to us. We used initial quantitative screens primarily as guides to inform our decision-making process in reviewing current or potential peers. The screening process for 2024 used similar parameters as 2023, focusing specifically on companies within defined ranges for revenue and market capitalization, the technology industry and additional qualitative parameters. Specifically, the criteria the compensation committee used to assess our 2024 peer group are summarized below. ✓ Size and Scale: Using our 2023 peer group as a starting point, we assessed potential changes to the peer group by identifying companies within a reasonable range of trailing 12 month total revenues and market capitalizations at the time of the compensation committee’s determination. This group of companies had between roughly 0.3x to 3.0x our trailing 12 month revenues and market capitalizations of less than $1 billion. Our trailing 12 months revenue of $152 million was positioned towards the bottom quartile of the group, which had median revenues of $205 million. Our market capitalization of $212 million was just above the group’s median market capitalization of $209 million. ✓ Industry and Business: We identified innovative companies that focus on the automotive industry (excluding direct retailers), are heavily involved in providing technology-enabled marketing services, operate an online or digital marketplace enhancing consumer experiences or maintain significant partnerships with merchants and affiliations. ✓ Other Qualitative Factors: We identified companies that are located in major metropolitan areas, had recent initial public offerings in the last three to five years or were strong talent competitors. 28

TABLE OF CONTENTS Compensation Discussion and Analysis 2025 ANNUAL PROXY STATEMENT

Following this assessment, the compensation committee made significant updates to our peer group for 2024, including (i) removing the two companies from our 2023 peer group other than Cars.com with market capitalizations of over $1 billion (Zuora and PROS Holdings), (ii) removing two companies that had been acquired and therefore were no longer public (Quotient and ChannelAdvisor) and (iii) adding five companies to our peer group (eHealth, AdTheorent, Veritone, Illumin and Travelzoo) with a median of $139 million in annual revenues and median of $109 million in market capitalization and also met the additional industry and qualitative criteria above at the time of its assessment. The compensation committee made these changes in October 2023 to reduce the median revenue of our peer group to $205 million