Company: PRMB
Filing Date: 2025-03-07
Form Type: 424B3
Source: 0001193125-25-049851
Chunk: 65

Company: Primo Brands Corp
Filing Date: 2025-03-07
Form: 424B3
Chunk 65
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-based restricted share units originally granted as a performance-based restricted                                                                                                                                        
 share unit award, which were converted to time-based restricted share units in connection with the closing of the Transaction and vest at the end of the original three-year performance period, subject to continued employment through the vesting 
 date.                                                                                                                                                                                                                                                |

| (7) | The award reported in these columns reflects the Class B units in TWP Holdings granted to Mr. Austin.                                                                                                                               
 The Company believes that, despite the fact that the Class B units do not require the payment of an exercise price, they are most similar economically to stock options because the “profits interests” share in future profits and 
 appreciation in value in excess of the associated participation threshold, and as such, they are properly classified as “options” under the definition provided in Item 402(a)(6)(i) of Regulation S-K                              
 under the 1933 Securities Act as an instrument with an “option-like feature.”                                                                                                                                                       |

| (8) | Unless otherwise noted, the “Grant Date Fair Value of Stock and Option Awards” column shows the full                                                                                                                                                      
 grant date fair values of the performance and time-based restricted share units granted in fiscal 2024. The grant date fair values of the awards are determined under ASC 718 and represent the amounts we would expense in our financial statements over 
 the vesting schedule for the awards. In accordance with SEC rules, the amounts in this column reflect the actual ASC 718 accounting cost without reduction for estimates of forfeitures related to service based vesting conditions. The amounts reflect  
 our accounting for these grants and do not correspond to the actual values that may be realized by the named executive officers.                                                                                                                          |

| (9) | Represents the incremental fair value of Mr. Rietbroek, Mr. Hass and Ms. Poe’s awards due                                                                                                                        
 to modifications as a result of the conversion of outstanding Primo Water time- and performance-based restricted share units awards into Primo Brands time-based restricted share units granted under the Legacy 
 2018 Plan, computed as of the modification date in accordance with ASC Topic 718.                                                                                                                                |

| (10) | All amounts shown are calculated in accordance with ASC Topic 718. The following assumptions were used in the                                  
 calculation of these amounts for the BlueTriton Profits Interests: volatility of 40.17%, risk free rate of 5.13%, and dividend yield of 0.00%. |

Narrative to Summary Compensation Table and Grants of Plan-Based Awards Table