Company: QLYS
Filing Date: 2025-04-11
Form Type: PRE 14A
Source: 0001140361-25-013472
Chunk: 71

Company: QUALYS, INC.
Filing Date: 2025-04-11
Form: PRE 14A
Chunk 71
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 payout under our 2024 Corporate Bonus Plan based on the minimum amounts payable for certain levels of performance for all three performance measures. Payout could be zero if performance is below minimum levels for all three measures, or up to 125% of target based on maximum achievement of the applicable performance metrics. |

| (5) | The number of shares subject to this PRSU award represents the first of three tranches of a multi-year PRSU award with one-year performance periods covering the calendar years 2024, 2025, and 2026, respectively which were approved by the Compensation and Talent Committee in October 2023, the second of three tranches of a multi-year PRSU award with one-year performance period covering the calendar years 2023, 2024 and 2025 which were approved by the Compensation and Talent Committee in October 2022, and the third of three tranches of a multi-year PRSU award with one-year performance period covering the calendar years 2022, 2023 and 2024 which were approved by the Compensation and Talent Committee in October 2021. |

| 59 |

Subject to continued service, up to 200% of the target number of PRSUs covered by each tranche will become eligible to vest based on the annual growth rate of the Company’s revenues and the Company’s adjusted EBITDA margin for the applicable performance period, except that vesting and release of the earned PRSUs is capped at 100% of target performance for each of the first two performance periods, with cumulative achievement over 100% become eligible to vest and release at the end of the third performance period. Because the performance metrics for the third tranche of the PRSU grant awards granted to our named executive officers in October 2022, the second and third tranches of the PRSU awards granted to our named executive officers in October 2023, and the first, second, and third tranches of the PRSU awards granted to our named executive officers in October 2024 were not established in 2024, such tranches are not yet considered granted in 2024 under FASB ASC Topic 718. As a result, there is no reportable grant date fair value under FASB ASC Topic 718 for such tranches, and they are not included in this table. Accordingly, the reported grant date fair value of this PRSU award differs from the award value approved by our Compensation and Talent Committee. Outstanding Equity Awards at 2024 Fiscal Year-