Company: LILA
Filing Date: 2025-04-09
Form Type: DEF 14A
Source: 0001712184-25-000084
Chunk: 50

Company: Liberty Latin America Ltd.
Filing Date: 2025-04-09
Form: DEF 14A
Chunk 50
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, OFCF and adjusted OIBDA;

• Operational goals : completing the Liberty Puerto Rico and CWP migrations from AT&T and Claro Panama, respective; improving operational efficiency through OFCF margin expansion; building 300,000 fiber-to-the-home; deploying 5G in Costa Rica; and

• Governance goals : delivering improvements in our internal control framework across all of our markets.

In addition, the compensation committee’s evaluation of Mr. Nair’s overall performance could include other factors that the committee deems appropriate, including, for example, leadership, handling adversity, strategic progress and stock price. If the committee determined that Mr. Nair’s 2024 performance was “strong” (on a scale of “good” – “strong” – “exceeds”), then Mr. Nair would vest in the PSUs.

“Adjusted OIBDA” is defined as operating income or loss before share-based compensation, depreciation and amortization, provisions and provision releases related to significant litigation and impairment, restructuring and other operating items. Other operating items include (i) gains and losses on the disposition of long-lived assets, (ii) third-party costs directly associated with successful and unsuccessful acquisitions and dispositions, including legal, advisory and due diligence fees, as applicable, and (iii) other acquisition-related items, such as gains and losses on the settlement of contingent consideration.

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In March 2025, the compensation committee reviewed Mr. Nair’s 2024 performance and determined that the PSUs had not been earned. Instead, the committee decided to condition vesting of the 156,250 remaining PSUs on 2025 performance.

Extension of SARs Granted in 2018, 2019 and 2020. In October 2024, the compensation committee extended the expiration date of SARs granted under the Incentive Plan in 2018, 2019, and 2020 (the SAR Extensions ) from the seventh anniversary to the tenth anniversary of the original grants to align with current company and industry practice and to further incentivize the achievement of the company’s objectives. There was no change to the exercise prices of the 2018, 2019, and 2020 SARs. They have exercise prices ranging from $18.15 to $21.58 (for 2018), $15.84 to $19.91 (for 2019), and $10.28 to $10.42 (for 2020) in Class A