Company: LILA
Filing Date: 2025-04-09
Form Type: DEF 14A
Source: 0001712184-25-000084
Chunk: 43

Company: Liberty Latin America Ltd.
Filing Date: 2025-04-09
Form: DEF 14A
Chunk 43
---
 for the NEOs. The compensation committee also approves the amount to be paid to the other participants in the program, including our other NEOs, with respect to their performance awards, and the terms of the annual cash performance award program for the current year, including, in a private session, the goals for our CEO for the coming year.

In connection with our annual cash performance award program, we encourage increased share ownership among management, including our NEOs, in our various countries, aligning incentives among employees and shareholders. As a result, the compensation committee implemented a shareholding incentive plan ( SHIP ) that allows certain members of senior management to receive up to 100% of their 2024 annual performance awards in our LILA and LILAK shares in lieu of cash. A participant who received shares in respect to their 2023 and earlier annual cash performance award also received RSUs equal to 12.5% of the gross number of shares earned under the annual performance award. The RSUs would vest approximately one year after the grant date, provided the participant held all of the shares issued in respect to the respective annual performance award through that period. The number of common shares granted would be based on the closing prices of our LILA and LILAK shares on the date the performance award was paid and delivered on a one for two ratio between our LILA and LILAK shares. All of our NEOs, except for Ms. Lorenzo (whose 2024 annual bonus is described in more detail below), received their 2024 annual bonus payments in cash.

Design of 2024 Annual Bonus Program and 2024 Performance . The 2024 Annual Bonus Program was adopted and approved in March 2024. In approving the 2024 annual performance bonus program (the 2024 Annual Bonus Program ), the compensation committee considered the following key elements:

• the achievement of budgeted revenue growth and operating free cash flow ( OFCF ) growth; and

• governance objectives focused on compliance and improvements in our internal control framework.

The total bonus payout based on the above performance metrics is the sum of the percentages derived from the achievement in 2024 of such metrics, with a maximum payout of 150% for over-performance for each of revenue and OFCF. If less than 25% performance is achieved for the revenue or OFCF goals, then no payout would be earned for that particular metric. The metrics are weighted as: (i) revenue, weighted 25%; (ii) OFCF, weighted 60%; and