Company: PRMB
Filing Date: 2025-03-20
Form Type: DEF 14A
Source: 0001140361-25-009675
Chunk: 60

Company: Primo Brands Corp
Filing Date: 2025-03-20
Form: DEF 14A
Chunk 60
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 Primo Water Corporation 2018 Equity Incentive Plan, as each may be amended from time to time (the “ Legacy 2018 Equity Plan”) and with respect to Mr. Austin and Ms. Kim, included grants of BlueTriton Profits Interests. Awards outstanding under the Legacy Equity Plans were assumed by the Company in the Transaction, however, in light of the Transaction and in consultation with FW Cook, the compensation committee of Primo Water determined to convert outstanding awards that were subject to performance-vesting conditions based on metrics for the Legacy Primo business to awards that vest solely on continued service, based on the estimated performance achieved by Primo Water as of the Transaction, with the new

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awards vesting at the end of the original award’s performance period. No future awards will be granted under the Legacy Equity Plans and such plans will not be considered an element of any go-forward executive compensation. BlueTriton Profits Interests awards held by Mr. Austin and Ms. Kim remain outstanding and, to the extent unvested, eligible to vest, following the Transaction. In connection with the Transaction, we adopted the Primo Brands Corporation Equity Incentive Plan, (the “ Primo Brands Equity Plan”) which provides the Company with the flexibility to design compensatory awards responsive to Primo Brands’ business needs and goals. Awards under the Primo Brands Equity Plan may be in the form of stock options, stock appreciation rights, restricted shares, restricted share units, performance shares, performance units or unrestricted shares, and other stock or cash-based awards, including the payment of performance bonuses in shares of Class A common stock (the Legacy Equity Plans, together with the Primo Brands Equity Plan, the “ Equity Plans”). In December 2024, each of our NEOs received an equity award for the 2025 annual grant cycle, consisting of performance-based restricted share units (“ PSUs”) (66%) and time-based restricted share units (“ RSUs”) (34%). The compensation structure for our NEOs is intended to balance the need of these executives for current income with the need to create long-term incentives, including the PSUs granted in December 2024, that are directly tied to achievement of our operational targets and growth in stockholder value. Compensation Components For 2024, the principal compensation components for Primo Brands’ NEOs consisted of the following:

| Compensation Component                                                  |     | Compensation Objective Designed to be Achieved                                                                                                                                                                                                                     |
| Base salary                                                             |