Company: WRBY
Filing Date: 2025-04-28
Form Type: DEF 14A
Source: 0001104659-25-040245
Chunk: 36

Company: Warby Parker Inc.
Filing Date: 2025-04-28
Form: DEF 14A
Chunk 36
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 which each of our NEOs participated in fiscal year 2024. Each NEO’s target bonus is expressed as a percentage of base salary which can be achieved by meeting certain performance objectives at target level. The 2024 annual bonuses for Messrs. Blumenthal, Gilboa, and Miller were targeted at 90%, 90%, and 65% of the executive’s base salary, respectively. The Compensation Committee established these target bonus amounts following its review of similarly-situated executives at our peer group companies and its assessment of our executives’ experience and expected contributions. For fiscal year 2024, our NEOs were eligible to earn annual bonuses based on the achievement of the following financial objectives:

| Metrics                          | ​ | ​ | Weighting | ​ | ​ | Threshold |   |             |   | ​ | ​ | Target |   |             |   | ​ | ​ | Maximum |   |             |   | ​ | ​ | Actual Result |   |             |   | ​ |
|:---------------------------------|:--|:--|:----------|:--|:--|:----------|:--|------------:|:--|:--|:--|:-------|:--|------------:|:--|:--|:--|:--------|:--|------------:|:--|:--|:--|:--------------|:--|------------:|:--|:--|
| Net Revenue                      | ​ | ​ | 70%       | ​ | ​ | ​         | $ | 736,700,000 | ​ | ​ | ​ | ​      | $ | 758,000,000 | ​ | ​ | ​ | ​       | $ | 803,800,000 | ​ | ​ | ​ | ​             | $ | 771,315,000 | ​ | ​ |
| Adjusted EBITDA(1)               | ​ | ​ | 30%       | ​ | ​ | ​         | $ |  67,000,000 | ​ | ​ | ​ | ​      | $ |  70,000,000 | ​ | ​ | ​ | ​       | $ |  80,000,000 | ​ | ​ | ​ | ​             | $ |  73,111,000 | ​ | ​ |
| Payout as a Percentage of Target | ​ | ​ | —         | ​ | ​ | 50%       |   |             |   | ​ | ​