Company: LILA
Filing Date: 2025-04-09
Form Type: DEF 14A
Source: 0001712184-25-000084
Chunk: 65

Company: Liberty Latin America Ltd.
Filing Date: 2025-04-09
Form: DEF 14A
Chunk 65
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 LILAB PSUs that would vest, subject to Mr. Nair’s attainment of his 2023 individual performance objectives, on March 15, 2024. On March 12, 2024, the compensation committee determined to vest 50% of the third installment (or 156,250 LILAB PSUs) on March 15, 2024 and to condition vesting of the remaining 50% of the target award on 2024 performance. If earned, the remaining 50% of the target award would have vested on March 15, 2025. In March 2025, the compensation committee reviewed Mr. Nair’s 2024 performance and determined that the remaining 50% of the target award (156,250 PSUs) had not been earned. Instead, the committee decided to condition vesting of the 156,250 remaining PSUs on 2025 performance. The 2022 Nair Agreement also provides Liberty Latin America with a right of first refusal with respect to transfers by Mr. Nair of LILAB shares that he receives upon vesting of the Sign-on LILAB Award, subject to certain exceptions.

Pursuant to the 2022 Nair Agreement, Mr. Nair’s base salary has remained at $1.5 million for 2023, 2024 and 2025.

Mr. Nair is eligible to earn an annual bonus each year. For 2022, the compensation committee increased Mr. Nair’s target annual bonus from $3.5 million to $4 million. In 2023 and again in 2024 and 2025, Mr. Nair’s target annual bonus increased by $250,000 pursuant to the terms of the 2022 Nair Agreement’s and will continue to increase by such amount each subsequent year through 2026. There is no guaranteed bonus amount. The actual amount paid to Mr. Nair will depend on the achievement of qualitative and quantitative performance objectives, which will be determined each year by the compensation committee. See Annual Performance Awards above. Mr. Nair will have the opportunity to receive his annual bonus payment in LILA shares and/or LILAK shares in lieu of cash under the shareholding incentive program of our annual performance bonus plan.

During the term of the 2022 Nair Agreement, Mr. Nair is entitled to participate in our equity compensation programs on the same basis as our other executives. Pursuant to these programs, Mr. Nair will