Company: CRCT
Filing Date: 2025-04-15
Form Type: DEF 14A
Source: 0001828962-25-000065
Chunk: 43

Company: Cricut, Inc.
Filing Date: 2025-04-15
Form: DEF 14A
Chunk 43
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 event of a “change in control” that occurs on or after June 30, 2025, but before the end of the applicable performance period, then the following rules will apply:

• First, calculate the aggregate Operating Income for the last four consecutive completed fiscal quarters during the Change in Control Performance Period (as defined in the award agreement) (such amount, the “CIC Operating Income”).

• Next, determine whether any RSUs subject to a tranche shall vest immediately prior the "change in control” by applying the following rules, but only to the extent such tranche has not previously vested. If a tranche has already vested prior to the “change in control”, no additional RSUs subject to such tranche shall vest. If the CIC Operating Income is greater than the first tranche’s CIC Operating Income target, the first tranche shall vest immediately prior to the “change in control”. If the CIC Operating Income is greater than the second tranche’s CIC Operating Income target, the second tranche shall vest immediately prior to the “change in control”.

• Finally, prior to the “change in control”, the compensation committee shall certify the number of RSUs subject to a tranche that shall vest after applying the rules in steps 1 and 2 above, with such determination subject to and contingent upon the consummation of the “change in control.”

We have earmarked a total of 10.3 million shares to be awarded under the 2024 LTIP. In the future, we may implement other performance-based programs like the 2024 LTIP, as we believe it is appropriate for incentivizing our key employees toward achieving certain objectives. We do not expect to implement performance-based programs like this every year.

2022 LTIP Awards

In January 2022, the compensation committee granted Messrs. Arora, Shill and Olsen and certain other of our key employees awards of performance-based RSUs. The Company has determined it is not probable any performance conditions will be achieved.

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#### Benefits
Our executive officers are eligible to participate in the same benefits programs offered to all employees. We maintain a 401(k) retirement savings plan for the benefit of our employees, including our named executive officers, who satisfy certain eligibility requirements. Under the 401(k) plan, eligible employees may elect to defer a portion of their compensation, within the limits prescribed by the Internal Revenue Code of 1986, as amended, or the Code, on a pre