Company: MCW
Filing Date: 2025-04-09
Form Type: DEF 14A
Source: 0000950170-25-052554
Chunk: 51

Company: Mister Car Wash, Inc.
Filing Date: 2025-04-09
Form: DEF 14A
Chunk 51
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”) and (ii) the sum of such participant’s Base Salary Rate and target annual bonus for the fiscal year in which such termination of employment occurs;

A lump-sum cash payment equal to the Prorated Bonus;

Payment or reimbursement of such participant’s and his or her covered eligible dependents’ health insurance coverage under COBRA for up to the number of years equal to such participant’s CIC Severance Multiplier; and

Accelerated vesting of such participant’s outstanding equity to the extent provided in any written agreement between such participant and the Company.

Receipt of severance benefits under the Severance Plan is subject to: (a) the eligible participant’s compliance with certain restrictive covenants, including (i) 18-month post-termination non-competition and non-solicitation of customers and employees’ covenants, (ii) a perpetual confidentiality covenant and (iii) a perpetual non-disparagement covenant in favor of the Company; and (b) the covered employee’s execution of a general release of claims.

In addition, in the event of death or Disability, an eligible participant will be entitled to receive accelerated vesting of such participant’s outstanding equity to the extent provided in any written agreement between such participant and the Company.

| 2025 Proxy Statement |     | 37 |

Compensation Discussion and Analysis

Outstanding Equity Awards at 2024 Fiscal Year-End Table The following table summarizes the number of shares of common stock underlying outstanding equity incentive plan awards for each NEO as of December 31, 2024.

|                 |                 | Option Awards                                                       |         |     |                                                                       |         |     |                           |       |     |                        | Stock Awards                                                |         |     |                                                                       |           |
| Name            | Grant Date      | Number of Securities Underlying Unexercised Options (#) Exercisable |         |     | Number of Securities Underlying Unexercised Options (#) Unexercisable |         |     | Option Exercise Price ($) |       |     | Option Expiration Date | Number of Shares or Units of Stock That Have Not Vested (#) |         |     | Market Value of Shares or Units of Stock That Have Not Vested ($) (1) |           |
| John Lai        | 6/25/2021(3)    |                                                                     | 600,000 |     |                                                                       | 400,000 |     |                           | 15.00 |     | 6/25/2031              |                                                             | 160,