Company: SGBAF
Filing Date: 2025-05-15
Form Type: 424B3
Source: 0001193125-25-120606
Chunk: 447

Company: SES S.A.
Filing Date: 2025-05-15
Form: 424B3
Chunk 447
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 Company’s relative shareholder 
 return percentile ranking versus the S&P 900 Index as defined in the grant agreement.                                                                                                                                                          |

Successor Share-Based Compensation Post-Emergence, Intelsat S.A. provides the opportunity for employees to acquire equity interest in the Company and other incentive compensation, such as stock options and cash-based awards, to align the interest of key personnel with those of the Company’s shareholders. The Intelsat S.A. 2022 Equity Incentive Plan (the “Incentive Plan”) provides for, among other things, the grant of RSUs and PSUs to employees, officers and directors of the Company. The Incentive Plan has vesting provisions predicated upon the death, termination or disability of the grantee. The Incentive Plan was effective as of February 23, 2022 and will expire on the tenth anniversary of the Effective Date. We account for share-based compensation expense in accordance with ASC 718,which requires us to measure and recognize compensation expense in our financial statements based on the fair value at the date of grant for our share-based awards. We recognize compensation expense for these equity-classified awards over their requisite service period and adjust for forfeitures as they occur. The following table summarizes the activity under our Incentive Plan related to RSUs for the year ended December 31, 2024.

|                                  |     | Number of RSUs 
 (in thousands) |      |   |     | Weighted-Average 
 Grant Date Fair  
 Value            |       |
|:---------------------------------|:----|:---------------|-----:|:--|:----|:-----------------|------:|
| Unvested as of December 31, 2023 |     |                |  945 |   |     | $                | 49.30 |
| Granted                          |     |                |  206 |   |     |                  | 49.24 |
| Vested                           |     |                | (600 | ) |     |                  | 49.58 |
| Cancelled and forfeited          |     |                |  (53 | ) |     |                  | 49.24 |
| Unvested as of December 31, 2024 |     |                |  498 |   |     |                  | 48.95 |

The following table summarizes the activity under our Incentive Plan related to PSUs for the year ended December 31, 2024:

|                                  |     | Number