Company: FOX
Filing Date: 2025-09-25
Form Type: DEF 14A
Source: 0001628280-25-042772
Chunk: 55

Company: Fox Corp
Filing Date: 2025-09-25
Form: DEF 14A
Chunk 55
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 of FOX’s securities) or hedging or pledging equity compensation.

| 2025 Proxy Statement |     | 31 |

#### COMPENSATION DISCUSSION AND ANALYSIS
| Executive Stock Ownership Guidelines |

The Compensation Committee believes that the named executive officers of the Company should have an appropriate equity ownership in the Company to more closely align their economic interests with those of other Company stockholders. The Board has adopted stock ownership guidelines that require the named executive officers to own equity securities of the Company equal in value to at least a defined multiple of the named executive officer’s base salary as follows:

| Named Executive Officer |     | Ownership Guideline |
| Lachlan K. Murdoch      |     | 6 times base salary |
| John P. Nallen          |     | 2 times base salary |
| Steven Tomsic           |     | 2 times base salary |
| Adam Ciongoli           |     | 2 times base salary |

As of the end of fiscal 2025, each of our named executive officers has achieved the appropriate ownership level in accordance with the ownership guidelines. All fully owned shares held by the named executive officer or direct family members, vested shares held in retirement and deferred compensation accounts, shares held by the named executive officer or direct family members in trust, and all unvested restricted shares or time-based RSUs count for purposes of assessing an executive’s ownership level. No portion of unexercised stock options (such as the current “in the money” value) nor any portion of unearned performance awards count for purposes of assessing an executive’s ownership level under the ownership guidelines.

| Role of Compensation Consultant |

The Compensation Committee has retained FW Cook to advise the Compensation Committee on its named executive officer and non-executive Director compensation practices and framework. For information on the Compensation Committee’s consideration of FW Cook’s independence, please see the section titled “Committees and Meetings of the Board of Directors – Compensation Committee.”

| Compensation Deductibility Policy |

Section 162(m) of the Internal Revenue Code generally prohibits executive compensation in excess of $1 million per year to be deducted by the Company as a compensation expense. The Compensation Committee has approved, and may continue to approve, compensation exceeding the $1 million limitation, including with respect to a portion of base salary, Annual Incentive Compensation and long-term incentives, in order to provide appropriate compensation. While accounting and tax treatment are relevant issues to consider, the Compensation Committee believes that stockholder interests are best served by not restricting flexibility in designing compensation programs