Company: ONEW
Filing Date: 2025-01-10
Form Type: DEF 14A
Source: 0001772921-25-000007
Chunk: 39

Company: OneWater Marine Inc.
Filing Date: 2025-01-10
Form: DEF 14A
Chunk 39
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200% of the target PSUs. The number of PSUs that become contingently earned is determined based on the achievement of Return on Invested Capital and Sales Growth during a one-year performance period beginning on the first day of the fiscal year in which the PSUs were granted. PSUs become contingently earned after certification of achievement of the performance metrics by the compensation committee and then convert to RSUs that vest in equal installments over the three-year period from the date the award was granted; notwithstanding the foregoing, the first tranche of the contingently vested PSUs will vest on the date on which performance is certified if such date is later than the date of grant. The PSUs granted during fiscal year 2024 were subject to a performance period beginning on October 1, 2023, and ending on September 30, 2024. In December 2024, the compensation committee ratified the achievement of the performance results, and determined that 74% of the target PSUs became contingently earned. Shares subject to these contingently earned PSUs vest in equal installments on each of December 10, 2024 (the date on which performance was certified), October 1, 2025 and October 1, 2026.

Acquisition Incentive Program . In order to encourage and reward the successful long-term performance of businesses acquired by the Company and to create a further incentive to retain the Company’s Named Executive Officers, based on advice provided by Aon, our compensation committee adopted the Acquisition Incentive Program in 2022 (the “AIP”). The AIP is a long-term cash incentive program pursuant to which the Named Executive Officers may become eligible for cash awards in amounts determined based on the achievement of financial performance metrics by businesses acquired by the Company over the two-year period following its acquisition. Each Named Executive Officer is granted an award under the AIP with a target value of $50,000 for “small” acquisitions or $100,000 for “large” acquisitions. A percentage of each target award may then become earned in amounts ranging from 0% to 300%. Acquired businesses with an Adjusted EBITDA between $1,000,000 and $3,500,000 are considered small acquisitions, while acquired businesses with an Adjusted EBITDA in excess of $3,500,000 are considered large acquisitions. No awards are granted under the AIP with respect to the acquisition of businesses with an Adjusted EBITDA of less than $1,000,000