Company: PRMB
Filing Date: 2025-02-07
Form Type: S-1/A
Source: 0001193125-25-022806
Chunk: 188

Company: Primo Brands Corp
Filing Date: 2025-02-07
Form: S-1/A
Chunk 188
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 light of its business and structure, the Board expects to focus primarily on each person’s background and experience as reflected in the information discussed in each of the directors’ individual biographies in order to provide an appropriate mix of experience and skills relevant to the size and nature of the business. The total number of directors constituting the Board shall be determined from time to time in the manner as set forth in our certificate of incorporation. Our certificate of incorporation also provides the Sponsor Stockholders with certain director designation rights for so long as the Sponsor Stockholders continue to own at least 5% of our issued and outstanding Class A common stock. 127

Pursuant to the Stockholders Agreement, among other things, the Board is currently comprised of (i) the seven ORCP Designees, (ii) seven directors designated for election to the Board by Primo Water (the “Unaffiliated Directors”), all but one of whom must qualify as “independent” under the listing standards of the NYSE, and (iii) the Mutually Agreed Director. As noted above, it is expected that the Mutually Agreed Director will be identified after conducting an executive search. The collective beneficial ownership of shares of Class A Common Stock held by the ORCP Stockholders determines the future size of the Board and the number of ORCP Designees as follows:

| Beneficial Ownership of Class A Common Stock by the 
 ORCP                                                
 Stockholders                                        |     | Total Number of 
       Directors |     |      ORCP 
 Designees |
| 53% or greater                                      |     |              15 |     |         8 |
| Less than 53%, but greater than or equal to 45%     |     |              15 |     |         7 |
| Less than 45%, but greater than or equal to 40%     |     |              14 |     |         6 |
| Less than 40%, but greater than or equal to 35%     |     |              13 |     |         5 |
| Less than 35%, but greater than or equal to 30%     |     |              12 |     |         4 |
| Less than 30%, but greater than or equal to 25%     |     |              12 |     |         3 |
| Less than 25%, but greater than or equal to 15%     |     |              12 |     |         2 |
| Less than 15%, but greater than or