Company: PRMB
Filing Date: 2025-01-24
Form Type: S-1
Source: 0001193125-25-012325
Chunk: 157

Company: Primo Brands Corp
Filing Date: 2025-01-24
Form: S-1
Chunk 157
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, 2021, the Primo Water board of
directors approved a share repurchase program for up to $50.0 million of Primo Water’s outstanding common shares over a 12-month period that expired on May 10, 2022. Primo Water repurchased
2,646,831 common shares for $43.5 million through open market transactions under this repurchase plan, all in the fiscal year ended January 1, 2022.

Shares purchased under these repurchase plans were subsequently canceled. In light of the Transaction, Primo Water has paused its share
repurchase program.

Tax Withholding

During the three months ended September 28, 2024 and September 30, 2023, an aggregate of 2,747 common shares and 46,989 common
shares, respectively, were withheld from delivery to Primo Water’s associates to satisfy their respective tax obligations related to share-based awards.

During the fiscal years ended December 30, 2023, December 31, 2022, and January 1, 2022, 307,042 shares, 253,968 shares, and
263,220 shares, respectively, of Primo Water’s previously-issued common shares were withheld from delivery to the company’s associates to satisfy their tax obligations related to share-based awards.

Capital Structure

Since
December 30, 2023, Primo Water’s equity has increased by $41.6 million. The increase was due to net income of $79.6 million, the issuance of common shares of $17.5 million, and share-based compensation costs of
$17.5 million, partially offset by common shares repurchased and canceled of $20.3 million, common share dividend payments of $43.9 million and other comprehensive loss, net of tax of $8.8 million.

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Dividend Payments

Common Share Dividend

On
August 6, 2024, Primo Water’s board of directors declared a dividend of $0.09 per share on common shares, payable in cash on September 5, 2024, to shareowners of record at the close of business on August 22, 2024. On
October 15, 2024, Primo Water’s board of directors also declared a special dividend of $0.82 per common share, to be paid on November 21, 2024 to shareowners of record at the close of business on November 5, 202