Company: TIPT
Filing Date: 2025-10-31
Form Type: DEFM14A
Source: 0001140361-25-039949
Chunk: 140

Company: TIPTREE INC.
Filing Date: 2025-10-31
Form: DEFM14A
Chunk 140
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holders’ Representative Expense Amount, attributable to such Fortegra shares.

From and after the Effective Time, each dollar-denominated performance-based award that represents the right to acquire shares of Fortegra common stock granted under the Fortegra Equity Plan and that is outstanding immediately prior to the Effective Time pursuant to its terms (each, a “Fortegra performance award”), will continue in effect in accordance with its existing terms and conditions (except as expressly provided in the Merger Agreement), subject to any adjustments necessary to preserve the value of such Fortegra performance award, as measured immediately prior to the Effective Time, with the corresponding value as measured immediately following the Effective Time, as reasonably agreed to by the parties and approved by the Fortegra Board prior to, but contingent upon, the Effective Time; provided, however, that following the vesting of any Fortegra performance award in accordance with the terms and conditions set forth in the underlying Fortegra performance award agreement, each Fortegra performance award will be settled solely in cash from and after the Effective Time. Prior to, but contingent upon, the Effective Time, the Fortegra Board (or, if appropriate, any committee thereof administering the Fortegra Equity Plan) will adopt resolutions or take such other actions as may be required to provide solely for cash settlement of Fortegra performance awards, from and after the Effective Time.

At the Effective Time, each such vested Fortegra stock option will, by virtue of the Merger, be cancelled, and in full consideration of such cancellation, will be converted into and thereafter evidence the right to receive, without interest and less applicable tax withholding, an amount equal to the sum of (1) the product obtained by multiplying (a) the difference of (i) the Per Share Closing Merger Consideration minus (ii) the exercise price per share of the applicable Fortegra stock option, by (b) the aggregate number of shares of Fortegra common stock underlying such Fortegra stock option (the amount contemplated by this clause (1), the “Option Closing Merger Consideration”) and (2) the Leakage Delayed Consideration attributable to such Fortegra stock option (if any), minus, in the case of each of the Minority Investors, such holder’s Pro Rata Percentage of the Equityholders’ Representative Expense Amount, attributable to such vested Fortegra stock option.

Each Fortegra stock option and each Fortegra RSU award, when converted in accordance with the terms of the Merger Agreement, will no longer be outstanding, will automatically be cancelled, and will cease to exist. As promptly as