Company: PRMB
Filing Date: 2025-03-20
Form Type: DEF 14A
Source: 0001140361-25-009675
Chunk: 36

Company: Primo Brands Corp
Filing Date: 2025-03-20
Form: DEF 14A
Chunk 36
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 a director employed by the Company cannot be deemed to be an “independent director.” Each other director will qualify as “independent” only if the Board affirmatively determines that he or she has no material relationship with the Company, either directly or as a partner, shareholder, or officer of an organization that has a relationship with the Company. Ownership of a significant amount of the Common Stock, by itself, does not constitute a material relationship. Our Board has determined that each of Ms. Bomhard, Ms. Cates, Mr. Cramer, Mr. Foss, Mr. Fowden, Mr. Prim, and Mr. Stanbrook qualifies as an independent director in accordance with the rules of the NYSE. Under the rules of the NYSE, the definition of independence includes a series of objective tests, such as that the director is not, and has not been for at least three years, one of our employees and that neither the director nor any of his or her family members has engaged in various types of business dealings with the Company. In addition, as required by the rules of the NYSE, the Board has made an affirmative determination as to each independent director that he or she, as applicable, has no material relationship with the Company (either directly or as a partner, stockholder or officer of an organization that has a relationship with the Company). In making these determinations, the Board reviewed and discussed information provided by the directors and the Company with regard to each director’s relationships as they 23 TABLE OF CONTENTS may relate to us and our management. We are currently relying on the phase-in exemption provided to newly-public companies under the NYSE listing rules with respect to the requirement that a majority of the Board be independent and that our Audit, Compensation and Nominating and Governance Committees be fully independent. As described below under “—Controlled Company Exemption,” we may also choose to rely on the phase-in exemption provided to companies that cease to be considered a “controlled company,” which would provide an exemption from the requirement that a majority of the Board and our Nominating and Governance Committee and Compensation Committee be independent until 1 year following the date on which we ceased to be a “controlled company.” CONTROLLED COMPANY EXEMPTION As of March 12, 2025, we are no longer considered a “controlled company” for the purposes of the NYSE listing requirements. Although we were a “controlled company” by such standards, we did not rely on any of the related corporate governance exemptions and instead have relied only