Company: ACCO
Filing Date: 2025-03-28
Form Type: DEF 14A
Source: 0000950170-25-046374
Chunk: 58

Company: ACCO BRANDS Corp
Filing Date: 2025-03-28
Form: DEF 14A
Chunk 58
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 that are surrendered or withheld to pay an award's exercise price or withholding taxes cannot be added back to the shares available under the Plan. Likewise, any shares reacquired by the Company with the amount received from stock option exercises will not be added to the pool of available shares under the Plan.

No repricing or cash buy-out without stockholder approval . No stock option or SAR may be re-priced or substituted or exchanged for cash or as consideration for the grant of a new award with a lower exercise price without stockholder approval, except as may be permitted in connection with an event described below under the heading “—Adjustments” or in the event of a change in control. (However, options and SARs may be settled by a cash payment that does not exceed the difference between the fair market value of the shares subject to the option or SAR and the strike price.)

No liberal change of control definition . The Plan does not have a “liberal” change-in-control definition. A change in control is deemed to occur only upon completion, rather than stockholder approval, of a transaction.

No evergreen provision . The number of shares available for grant under the Plan is capped, and there is no formula providing for any automatic increase in the number of shares available.

No discounted stock options or SARs . The Plan prohibits the granting of stock options or SARs at strike prices that are less than the fair market value of our common stock on the date of grant.

Historical Grant and Governance Practice Highlights

Our historical grant and governance practices are set forth below.

Three-year vesting and performance periods. Historically, annual equity grants to executive officers, including our CEO, have generally been subject to a minimum three-year vesting period. RSUs are currently subject to a minimum three-year cliff vesting period and grants of NQSOs vest one-third per year over three years. In addition, PSU awards are subject to a cumulative three-year performance period.

High proportion of CEO’s compensation subject to performance conditions. In 2023 and 2024, 67 percent of our CEO’s target equity-based compensation was subject to achievement of financial performance measures. In 2023 and 2024, 83.0 percent and 84.0 percent, respectively, of our CEO’s total target compensation was variable and at risk as it was subject to the achievement of financial performance measures and share price appreciation.

No hedging or pledging . Our insider trading policy, which applies to shares acquired through grants made under the Plan, prohibits our directors and