Company: HOUS
Filing Date: 2025-03-24
Form Type: DEF 14A
Source: 0001398987-25-000047
Chunk: 49

Company: Anywhere Real Estate Inc.
Filing Date: 2025-03-24
Form: DEF 14A
Chunk 49
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 compensation program are described: 
 ▪on page46for our 2024 Annual Incentive (Cash)                          
 ▪on page49for our Long-Term Incentive (Equity)                          |

Many of these changes were informed by investor sentiment expressed over the past several investor outreach sessions that our executive compensation program may benefit from design changes aimed at mitigating the volatility of incentive payouts, which have been largely driven by the cyclical nature of the real estate industry.

The cyclicality of our industry has always posed certain challenges in designing compensation programs that meet each of the components of our compensation philosophy of pay-for-performance, rewarding our NEOs for their achievements and reinforcing ethical behavior.

However, the current downturn, now entering its fourth year, is historic in both its magnitude and duration and has dramatically reduced or eliminated the retentive value of outstanding awards in our incentive compensation programs for reasons outside of our control.

Specifically, the downturn had a significant impact on the attainability of our CFCF goals for our 2021-2023 and 2022-2024 PSU award cycles, each of which assumed a pre-March 2022 macroeconomic environment.

The downturn after the grant of those awards had a significant impact on the realized value for these cycles.

The table below shows the payout and aggregate realized value of PSU awards earned for the 2021-2023 and 2022-2024 PSU award cycles, with aggregate realized value determined by comparing the product of the aggregate number of shares or units earned by the NEOs times the stock price on the last day of the performance cycle vs. the target grant date value of the awards approved by the Compensation and Talent Management Committee. The 2023-2025 and 2024-2026 PSU cycles are as of December 31, 2024 and actual results will be determined based upon results under the applicable metric at the conclusion of the applicable three-year cycle.

| PSU Award Cycle           
 and Metric                |     |      |                                 |     |                                |     |                              |     |                       |     |      |
| 2021                      |     |      |                            2022 |     |                           2023 |     |                         2024 |     |                  2025 |     | 2026 |
| 2021-2023 PSU Award       |     |      |               Completed in 2023 
 (Aggregate Realized Value: 23%) |     |                                |     |                              |     |                       |     |