Company: CRCL
Filing Date: 2025-06-02
Form Type: S-1/A
Source: 0001193125-25-132755
Chunk: 257

Company: Circle Internet Group, Inc.
Filing Date: 2025-06-02
Form: S-1/A
Chunk 257
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 for 2024, the STIP Adjusted EBITDA Goal was achieved at $123M, resulting in a payout percentage of 99% for the financial component, and three non-financial business performance goals were achieved, resulting in a payout percentage of 100% for the non-financial component, and an aggregate achievement for the 2H STIP of 99% of target levels. The resulting aggregate funding level under the 2024 STIP was 124.5%. Accordingly, payouts to the NEOs were as follows: (i) Mr. Allaire, $1,568,700, (ii) Mr. Fox-Geen, $684,750, (iii) Ms. Carpenter, $684,750, (iv) Mr. Tarbert, $684,750, and (v) Mr. Chandhok, $466,875. Equity incentive compensation Each year our NEOs are eligible to receive equity awards under our Annual Grant Program (“Annual Grant”). In 2024, our NEOs received 100% of their Annual Grant in the form of RSUs (the “2024 Annual Grants”). The amounts granted of the 2024 Annual Grant were determined by several factors, including the Compensation Committee factoring in peer data, the individual’s performance and impact to the Company, and the individual’s outstanding equity holdings. For 2024 Annual Grants, grants made to the NEOs were as follows: (i) Mr. Allaire, $9,000,000, (ii) Mr. Fox-Geen, $4,000,000, (iii) Ms. Carpenter, $4,000,000, (iv) Mr. Tarbert, $4,000,000, and (v) Mr. Chandhok, $4,000,000. The 2024 Annual Grants have both time-based and performance-based vesting conditions. The time-based vesting condition is 25% after one year, then monthly thereafter for the next 36 months. The performance-based vesting condition will be satisfied upon a qualifying change in control event or public listing of the Company, which will be deemed satisfied in connection with our initial public offering. For 2025, our NEOs (Messrs. Allaire, Fox-Geen, Tarbert, and Chandhok) received 100% of their Annual Grant in the form of RSUs (the “2025 Annual Grants”). The amounts granted of the 2025 Annual Grant were determined