Company: SBH
Filing Date: 2025-12-10
Form Type: DEF 14A
Source: 0001193125-25-313464
Chunk: 72

Company: Sally Beauty Holdings, Inc.
Filing Date: 2025-12-10
Form: DEF 14A
Chunk 72
---
 periods with goals related to AOI (referred to herein as the FY23-25 Y1AOIM PSUs, FY23-25 Y2AOIM PSUs and FY23-25 Y3AOIM PSUs), in each case with the number of shares earned paid out at the end of the three-year performance period on November 15, 2025. The AOIM goals for the FY23-25 Y2AOIM PSUs and FY23-25 Y3AOIM PSUs were not established on the date of grant and, as a result, for accounting purposes, are not considered granted until the respective performance goals are established. Accordingly, the grant date fair value of the FY23-25 rTSR PSUs and FY23-25 Y1AOIM PSUs were reported in the Stock Awards column for 2023, the grant date fair value of the FY23-25 Y2AOIM PSUs were reported in the Stock Awards column for 2024, and the grant date fair value of the FY23-25 Y3AOIM PSUs are reported in the Stock Awards column for 2025. (3) The fair value of the FY25 RSUs is calculated using the closing price for shares of our Common Stock on the date of grant (November 6, 2024). The fair value of the FY25-27 Y1AOIM PSUs, FY24-26 Y2AOIM PSUs and FY23-25 Y3AOIM PSUs is calculated using the closing price for shares of our Common Stock on the date the Committee approved the performance objectives of the awards (November 6, 2024). The fair value of the FY25-27 rTSR PSUs is based on the Monte Carlo valuation as of the grant date (November 6, 2024). The assumptions used in the Monte Carlo valuation of the FY25-27 rTSR PSUs are included in Note 6 to our audited financial statements for the fiscal year ended September 30, 2025, included in our Form 10-K filed with the SEC on November 13, 2025. For PSUs, the grant date fair value is calculated using the target number of PSUs awarded to each NEO, which was the assumed probable outcome as of the grant date. Assuming, instead, that the highest level of performance conditions would be achieved, the grant date fair values would have been as follows:

|                    | FY25 PSUs |     | FY