Company: LILA
Filing Date: 2025-04-09
Form Type: DEF 14A
Source: 0001712184-25-000084
Chunk: 45

Company: Liberty Latin America Ltd.
Filing Date: 2025-04-09
Form: DEF 14A
Chunk 45
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 governance objectives consisted of: (i) maintenance and continued improvement of our business process controls, weighted 6%, (ii) significant improvement in our General IT controls ( GITCs ), weighted 6%, and (iii) completion of our 2024 code of conduct training, weighted 3%.

The business controls component was further broken down into two categories: (x) material weaknesses, weighted 50%, and (y) significant deficiencies, weighted 50%. The business process control targets were based on open deficiencies as of December 31, 2024, and the final payout percentage for each metric was calculated using interpolation. One or more material weaknesses in our business process controls would result in no bonus for that weighted portion. A 50% payout would be earned on the business controls component if there were no more than two significant deficiencies, and 100% of this component would be earned if there were no material weaknesses and no more than one significant deficiency in our business process controls.

With respect to the GITC targets, 100% of this component would be earned if (i) there were no user access material weaknesses for a certain number of our key financial applications ( target systems ) in each of our material markets with legacy GITC material weaknesses ( control onboarding markets ), which is weighted at 50% of the 6% total to be earned, and (ii) if there were no GITC material weaknesses in either of our two material markets without legacy GITC material weaknesses ( control execution markets ), each being weighted at 25% of the 6% total.

A payout of 50% would be earned with respect to the GITC targets attributable to the control execution markets (i) if there were more than one material weakness in one of the new systems implemented and one material weakness in the legacy systems of one of the control execution markets, which is the minimum target, and (ii) for the control onboarding markets, if the interpolation of the target systems without user access material weaknesses was equivalent to 50% achievement.

A minimum payout of 25% would be earned attributable to the control onboarding markets if the interpolation of the target systems without user access material weaknesses was equivalent to 25% achievement. For the control execution markets, if the minimum target resulting in a 50% payout was not achieved, the payout for these categories would be zero.

At its meeting on February 14, 2025, the compensation committee reviewed the actual revenue and OFCF for 2024 based on our 2024 audited consolidated