Company: VSAT
Filing Date: 2025-07-25
Form Type: DEF 14A
Source: 0001193125-25-165436
Chunk: 71

Company: VIASAT INC
Filing Date: 2025-07-25
Form: DEF 14A
Chunk 71
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 acting under delegation of authority from the Board, approved equity awards in the form of time-based restricted stock units and performance restricted stock units for our Named Executive Officers in fiscal year 2025. Restricted Stock Units. Our Committee believes that time-based restricted stock units that vest over a multi-year period in equal annual installments based on continued employment provide a strong retentive tool for our Named Executive Officers and help to ensure their continued service over a multi-year period. Prior to June 2024, restricted stock units granted to our Named Executive Officers vested over four years, which was revised to a standard three-year vesting schedule commencing with the restricted stock units granted to our Named Executive Officers in June 2024. In addition, the Named Executive Officers may also be eligible for accelerated vesting of all or a portion of their restricted stock units in accordance with the terms of their severance agreements and change in control severance agreements, as described below. Performance Stock Units. Consistent with previous years, in fiscal year 2025 the Committee granted a substantial portion of the equity incentives to our Named Executive Officers in the form of performance-based awards. Prior to June 2024, performance-based equity incentives granted to our Named Executive Officers were awarded in the form of performance-based stock options, but the Committee determined that issuing awards in the form of performance stock units maintained the right incentive structure while having a less dilutive impact under our equity program. The Committee also determined that the performance-based equity awards granted to our Named Executive Officers in June 2024 would be delivered in the form of two separate performance stock unit awards, each representing approximately 25% of the Named Executive Officer’s long-term incentive award for such fiscal year (other than with respect to Mr. Chase), which are described below. Given Mr. Chase commenced employment with Viasat in September 2025, his performance-based awards formed a portion of his new hire equity package and he received only TSR performance stock units, and did not receive any financial performance stock units (each as described below). Total Shareholder Return (TSR) Performance Stock Units Granted to Named Executive Officers in June 2024. Consistent with previous years, the Committee selected relative TSR as a performance metric for a portion of the performance stock units granted to our Named Executive Officers in fiscal year 2025 (the “TSR performance stock units”), which represented approximately 25% of the long-term incentive awards granted to our Named Executive Officers during fiscal year 2025. The Committee believes that TSR is the strongest indicator of