Company: CRCL
Filing Date: 2025-05-16
Form Type: S-1/A
Source: 0001193125-25-121234
Chunk: 254

Company: Circle Internet Group, Inc.
Filing Date: 2025-05-16
Form: S-1/A
Chunk 254
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| • |     | Launch three critical components of major blockchain infrastructure. |

For the non-financial business performance goals, threshold payout of 50% is based on achievement of two of the goals, target payout is based on achievement of three of the goals, and maximum payout is based on achievement of all five of the goals. For purposes of the STIP, STIP Adjusted EBITDA is defined as our Adjusted EBITDA, plus one-time severance and retention costs, less digital assets gains and impairment, less other non-recurring income derived from non-core operations. For the 1H STIP for 2024, the STIP Adjusted EBITDA Goal was achieved at $160M, resulting in a payout percentage of 150% for the financial component, and all four non-financial business performance goals were achieved, resulting in a payout percentage of 150% for the non-financial component, and an aggregate achievement for the 1H STIP of 150% of target levels. For the 2H STIP 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)