Company: CDLX
Filing Date: 2025-04-03
Form Type: DEF 14A
Source: 0001666071-25-000046
Chunk: 47

Company: Cardlytics, Inc.
Filing Date: 2025-04-03
Form: DEF 14A
Chunk 47
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 discussions, we heard directly from stockholders about desired changes to our executive compensation program. Stockholders expressed concerns that our prior executive compensation program did not include performance-based restricted stock units ("PSUs"), which are a key component of performance-based, long-term incentive plans in the market. In response, the Compensation Committee has begun the implementation of PSUs for officers, beginning with the 2025 compensation cycle, in which two of our Named Executive Officers recently received PSU awards, the first PSU awards the Company has issued since 2022. These PSUs will directly link executive compensation to long-term company performance, reinforcing our commitment to pay-for-performance alignment.

Investors also raised concerns regarding the structure of our annual incentive bonus plan, specifically that it relied on a single performance metric. In response to this feedback, the Compensation Committee approved the 2025 Bonus Plan, which will include two performance metrics, based on Billings and Adjusted EBITDA, ensuring a more balanced assessment of executive performance. Additionally, in response to investor feedback, we did not include any element of personal performance in the 2025 Bonus Plan for Named Executive Officers ("NEOs"), ensuring that our NEOs are only bonused based on business performance. These changes will enhance the alignment between executive incentives and long-term value creation.

Additionally, stockholders expressed concern that 2018 Plan included an annual evergreen provision, which allowed for the issuance of additional shares without requiring stockholder approval. In response, the Board of Directors has approved and recommended to stockholders the 2025 Plan, which does not contain an evergreen provision. This change ensures that stockholder approval is required to issue additional shares, allowing our stockholders to have direct input on our equity compensation plans and reinforcing our commitment to governance best practices.

Our Board of Directors and management remain dedicated to continued engagement with our stockholders to gather input and enhance our executive compensation program. We believe that the enhancements made in response to stockholder feedback strengthen our pay-for-performance philosophy and further align the interests of our executives with those of our investors. We appreciate the valuable insights provided by our stockholders and will continue to evaluate and refine our compensation practices to support sustainable company performance and stockholder value creation.

### COMPENSATION DISCUSSION AND ANALYSIS
In 2024 we had four executive officers. This Compensation Discussion and Analysis provides information regarding the 2024 compensation program for each individual who served as our principal executive officer at any time during 2024, our principal financial officer and our other most highly compensated executive officers who were