Company: SLND-WT
Filing Date: 2025-04-25
Form Type: DEF 14A
Source: 0001558370-25-005565
Chunk: 21

Company: Southland Holdings, Inc.
Filing Date: 2025-04-25
Form: DEF 14A
Chunk 21
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 the Company without cause (and not as a result of death or disability) or a resignation by an executive with good reason during the two-year period following a change in control or (ii) a termination of an executive’s employment by the Company without cause (and not as a result of death or disability) within six (6) months prior to a change in control, if the termination was at the request of a third party or otherwise arose in anticipation of the change in control, the executive will receive the payments and benefits set forth in Termination by the Company without Cause or Termination by Executive with Good Reason, except that in lieu of the lump-sum payment under subsection (i)(D) thereof, the executive will receive a cash payment in an amount equal to two (2) times the sum of his base salary and target annual bonus for the year of termination (without taking into account any reductions which would constitute good reason), payable in a lump sum on the 60th day following the date of termination. |

13

DIRECTOR COMPENSATION During the year ended December 31, 2024, our non-employee directors received compensation for their service as directors. Mr. Frank Renda and Mr. Winn received no compensation for their service on our board and only received compensation for their service as officers of the Company. Our non-employee director compensation program consisted of an annualized retainer of $15,000 in cash for each non-employee director for January 2024 through May 2024. In June 2024, the Board approved changes to our non-employee director compensation program including: (i) increasing the annualized retainer to $75,000 for each non-employee director; (ii) additional cash compensation of $10,000 to the Chairman of the Audit Committee; and (iii) additional cash compensation of $5,000 to the non-employee chairman of any other Committees established by the Board of Directors. Additionally, each non-employee director was granted 19,956 RSUs on June 25, 2024. The following table sets forth total compensation awarded to or earned by each of our non-employee directors during the fiscal year ended December 31, 2024:

| ​              
 Director       | ​ 
 ​ | ​                                             
 Fees Earned        Or Paid In         Cash(1) |      ​ | ​ 
 ​ | ​                         
 Stock           Awards(2) |      ​ | ​ 
 ​ | ​     
 Total |       ​ |
|:---------------|:--