Company: SVV
Filing Date: 2025-04-21
Form Type: DEF 14A
Source: 0001883313-25-000019
Chunk: 52

Company: Savers Value Village, Inc.
Filing Date: 2025-04-21
Form: DEF 14A
Chunk 52
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agement covenants and post-termination non-solicit covenants.

| Savers Value Village, Inc. | 43 |     | 2025 Proxy Statement |

Table of C ontents

#### Equity Compensation
Pre-IPO Options. Prior to our IPO, we granted stock options under our 2019 Management Incentive Plan, as amended. These included time-based options and performance-based options.

• The time-based stock options generally provided for vesting in equal annual installments over five years, subject to continued employment through each vesting date.

• The performance-based stock options become vested to the extent our private equity investors receive a specified multiple of invested capital (“MOIC”) before the tenth anniversary of the option grant date, subject to the executive’s continued employment through the applicable measurement date. Additional performance measures are applicable, as described below.

• MOIC vesting. MOIC is a ratio comparing cash proceeds (including cumulative cash dividends and sale proceeds through the measurement date) to aggregate investment. Absent other events (such as the IPO or the VWAP vesting described below), the percentage of the performance-based portion that would become vested based on MOIC is as follows: one-third if MOIC equals or exceeds a 2.00 tranche price target; an additional one-third if MOIC equals or exceeds a 3.00 tranche price target; and the final one-third if MOIC equals or exceeds a 3.75 tranche price target.

• IPO vesting. 25% of the originally granted performance-based stock options vested upon closing of our IPO on July 3, 2023.

• VWAP vesting. The performance-based options are eligible to vest based on our stock price performance, as measured using a 90-day volume weighted average closing price (or “VWAP”), as defined in the option agreement, at each of the VWAP measurement events over a three year period following the IPO where 25% of the originally granted performance-based options are eligible for vesting with three tranches of price targets of $6.88, $11.76 and $15.42. As a result, an additional 25% of the performance-based options vested during 2024.

The stock option agreements for stock options granted prior to our IPO provide that, if a holder’s employment is terminated without cause, then a pro-rated portion of the time-based stock options will become vested. In the event of a change in control, the time-based stock options will become fully vested, and