Company: CIO
Filing Date: 2025-03-12
Form Type: DEF 14A
Source: 0001193125-25-052437
Chunk: 79

Company: City Office REIT, Inc.
Filing Date: 2025-03-12
Form: DEF 14A
Chunk 79
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 terms in this summary not defined in this summary shall have the meaning in the EIP.

EIP Administration

The EIP is administered by the Compensation Committee of our Board of Directors or, if there is no compensation committee, by our Board of Directors (the “plan administrator”). The plan administrator has the full authority to administer and interpret the EIP; to authorize the granting of awards; to determine the eligibility of individuals to receive awards under the EIP; to determine the number of shares of common stock to be covered by each award; to determine the terms, provisions and conditions of each award (which may not be inconsistent with the terms of the EIP); to prescribe the form of agreement evidencing awards; and to take any other actions and make all other determinations that it deems necessary or appropriate in connection with the EIP or the administration or interpretation thereof. In connection with this authority, the plan administrator may, among other things, establish performance goals that must be met in order for awards to be granted or to vest, or for the restrictions on any such awards to lapse. The committee administering the EIP will consist of directors, each of whom is intended to be, to the extent required by Rule 16b-3 of the Exchange Act, a non-employee director.

Eligibility

The plan administrator selects, from the eligible individuals, those individuals who receive awards under the EIP. Individuals eligible for awards are our officers, directors, advisors and personnel, and, with approval of our Board of Directors, those of our subsidiaries and their affiliates. Notwithstanding the foregoing, an individual is an eligible person only if shares of our common stock issued under awards to that person are eligible for registration with the SEC on a registration statement on Form S-8.

Available Shares

The EIP provides for grants of restricted common stock, restricted stock units, phantom shares, stock options, DERs and other equity-based awards (including LTIP Units), subject to the total number of shares available for issuance under the EIP. The maximum number of shares of common stock that may be issued under the EIP was 3,763,580 shares prior to the Third Amendment. The Third Amendment increases this maximum number to 5,763,580. The aggregate share limit is subject to adjustment in the event of specified changes in our capitalization, including share splits and share dividends. The grant of an LTIP Unit shall count against the aggregate share limit on a one-for-one basis, treating each LTIP Unit covered by an award as one