Company: CIO
Filing Date: 2025-03-12
Form Type: DEF 14A
Source: 0001193125-25-052437
Chunk: 46

Company: City Office REIT, Inc.
Filing Date: 2025-03-12
Form: DEF 14A
Chunk 46
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 with Financial Accounting Standards Board Accounting Standards Certification Topic 718, of restricted stock unit awards during the applicable fiscal year under the Company’s EIP; these amounts do not reflect the value of any dividend equivalents related to such restricted stock units. |

Grants of Performance Restricted Stock Units to our NEOs in 2024 On January 24, 2024, each of the Board of Directors and the Compensation Committee approved performance-based restricted unit award agreements (each, a “Performance RSU Award Agreement”) used to grant performance-based restricted stock unit awards (“Performance RSU Awards”) pursuant to the EIP. On May 2, 2024, each of the Board of Directors and the Compensation Committee approved a new form of Performance RSU Award Agreement. The Performance RSU Awards are based upon the total stockholder return (“TSR”) of our common stock over a three-year measurement period (the “Performance RSU Measurement Period”) beginning January 1, 2024 and ending on December 31, 2026 relative to the TSR of the companies in the office REIT peer group as of December 31, 2024 (the “2024 RSU Peer Group”). The payouts under the Performance RSU Awards are evaluated on a sliding scale as follows: TSR below the 30 thpercentile of the 2024 RSU Peer Group would result in a 50% payout; TSR at the 50 thpercentile of the 2024 RSU Peer Group would result in a 100% payout; and TSR at or above 34

the 75 thpercentile of the 2024 RSU Peer Group would result in a 150% payout. Payouts are mathematically interpolated between these stated percentile targets, subject to a 150% maximum. Subject to the terms of any applicable employment agreement, payouts of the Performance RSU Awards will vest, if at all, upon the completion of the Performance RSU Measurement Period, provided that the awardee remains continuously employed with the Company through the end of the applicable Performance RSU Measurement Period, except in certain cases of Changes of Control or a Covered Termination (each, as defined in each Performance RSU Award Agreement). Unless otherwise set forth in an awardee’s employment agreement, if applicable, upon the occurrence of a Covered Termination the awardee will continue to hold the Performance RSU Award through the last day of the applicable Performance RSU Measurement Period, and the Performance RSU Award will vest as of such last day, if at