Company: KYIV
Filing Date: 2025-07-17
Form Type: F-4/A
Source: 0001213900-25-064873
Chunk: 401

Company: Kyivstar Group Ltd.
Filing Date: 2025-07-17
Form: F-4/A
Chunk 401
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the “STIP”). The STIP is expected to provide for cash pay -outsto participating employees, normally in respect of a single calendar year period, based generally on the achievement of established Key Performance Indicators (“KPIs”) and/or continued employment over a period of up to 12months. Under the STIP scheme, the on -targetaward for Kyivstar Group Ltd.’s executive officers is expected to generally range between 60% to 100% of the annual base salary. The STIP is expected to be paid out entirely in cash, subject to certain exceptions requiring Board approval. The maximum payout opportunity for the executive officers is expected to be 150% of their on -targetlevel STIP award, subject to certain exceptions for exceptional circumstances pursuant to Kyivstar Group Ltd. Board approval. KPIs will be generally set at the beginning of each calendar year and evaluated in the first quarter of the following year. The cash pay -outof the STIP award is to be scheduled in the first quarter of the year following the assessment year, and is subject to continued active employment during the year of assessment (except in limited “good leaver” circumstances, in which case there will be a pro -ratareduction) and on the date of payout, as well as a pro -ratareduction if the participant commenced employment after the start of the year of assessment, but not later than the October 1 stof such year, unless the Board, in its discretion, determines otherwise. In accordance with Kyivstar Group Ltd.’s Policy for Recovery of Erroneously Awarded Compensation to be adopted prior to or concurrently with the listing of the Kyivstar Group Ltd. Common Shares on Nasdaq, Kyivstar Group Ltd. will be required to recover any portion of any STIP award granted in excess of the STIP award that would have been granted based on a restated financial reporting measure. Share-based Compensation Plan — Long-Term Incentive Plan In connection with the consummation of Business Combination, the Kyivstar Group Ltd. Board intends to adopt, subject to approval by the Kyivstar Group Ltd. Board, a discretionary long -term, share -basedcompensation plan (the “LTIP”). The key objective of the LTIP will be to align the interests of the Kyivstar Group Ltd. leadership team with the long -termsuccess of the Company and shareholders’ interests while also serving as a tool to incentivize and enhance retention among the leadership team.