Company: LBTYK
Filing Date: 2025-04-09
Form Type: DEF 14A
Source: 0001193125-25-076819
Chunk: 38

Company: Liberty Global Ltd.
Filing Date: 2025-04-09
Form: DEF 14A
Chunk 38
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, each with a weighting of between 2/3% and 1% of total payout. If the company achieves one of these goals, then the payout under the 2024 Annual Bonus Plan increases by that goal’s relative weighting, up to a maximum of 5%. The compensation committee has included both quantitative and qualitative initiatives in the People Planet Progress metric, including, among others, initiatives and presentations linked to sustainability, inclusivity survey results and programs and, corporate responsibility trainings. For quantifiable initiatives that can be achieved on a spectrum (e.g., 99 out of 100 employees completed their compliance training), achievement of less than 80% of the target results in no payout for the applicable metric. The maximum payout for each metric is 100%. 2024 Annual Bonus Program Performance. At its meeting in February 2025, the compensation committee reviewed the actual 2024 revenue and Adjusted EBITDA less P&E Additions for Compensation Purposes based on our 2024 audited 2024 financial results and also looked at the results of our operating companies’ customer metrics as well as how the company performed against its PPP targets. For this purpose, the 2024 budget was adjusted, in accordance with the terms of the 2024 Annual Bonus Program, for certain other unbudgeted events that the compensation committee, in its discretion and consistent with past practice, determined distorted performance against the financial performance metrics. These revisions included adjustments: (1) to reflect consistent foreign currency exchange translations, (2) for changes in accounting principles or policies, (3) for the impacts of certain acquisitions and dispositions, including the Spin-offand related matters, including the cost of execution and (4) to increase or decrease for transactions that had inorganic impacts on our business or our financial results. In the aggregate, these adjustments resulted in a net decrease to our budgeted revenue from $16.44 billion to $16.56 billion and a net increase to our budgeted Adjusted EBITDA less P&E Additions for Compensation Purposes from $2.15 billion to $2.30 billion. For purposes of determining performance payout, the compensation committee confirmed that actual 2024 revenue was 97.9% of the adjusted budget and actual 2024 Adjusted EBITDA less P&E Additions for Compensation Purposes was 101.8% of the adjusted budget on a consolidated basis. The Customer metric resulted in a 112.8% payout based on the revenue-weighted performance of each of