Company: TROW
Filing Date: 2025-03-26
Form Type: DEF 14A
Source: 0001104659-25-028002
Chunk: 49

Company: PRICE T ROWE GROUP INC
Filing Date: 2025-03-26
Form: DEF 14A
Chunk 49
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33% on each of December 10, 2025, December 10, 2026, and December 10, 2027. The performance-based RSUs are subject to a performance-based vesting threshold with a three-year performance period, which for the December 2024 grant will run from January 1, 2025, to December 31, 2028. For each performance-based RSU, the target payout represents the number of RSUs to be earned by the NEO if the Company's operating margin for the performance period is at least 100% of the average operating margin of a designated peer group. The Company's operating margin performance below this target threshold results in forfeiture of some or all of the performance-based RSUs. The performance-based RSUs earned by the NEO are then subject to time-based vesting, which occurs 50% on December 8, 2028, and December 10, 2029. Dividends on time-based RSUs are paid during the vesting period and for performance-based RSUs are accrued during the performance period and are only paid on earned units. Additional information related to the performance-based RSUs, including a list of companies in the designated peer group, are included in our CD&A. The grant agreements include a provision that allows for the continued vesting of the grant, from the date of separation if certain age and service criteria are met for the NEOs. 4Represents the grant date fair value of the time-based RSUs and performance-based RSUs granted in 2024 in accordance with FASB ASC Topic 718. The grant date fair value of the awards was measured using the market price per share of Price Group common stock on the date of grant multiplied by the target number of units noted in the table, as this was considered the probable outcome.

| 2025 Proxy Statement | 67 |

Outstanding Equity Awards Table at December 31, 2024 1 The following table shows information concerning equity incentive awards outstanding at December 31, 2024, for each NEO. The grant agreements for all unexercisable option awards and unvested stock awards include a provision that allows for continued vesting from the date of separation utilizing a tiered approach with three different age and service criteria, each having separate periods of continued vesting. The provision was modified in 2021 for 2021 grants and thereafter to allow continued vesting for all unvested awards to all associates who meet certain age and service criteria.

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