Company: PRMB
Filing Date: 2025-02-27
Form Type: 10-K
Source: 0002042694-25-000003
Chunk: 177

Company: Primo Brands Corp
Filing Date: 2025-02-27
Form: 10-K
Item: Item 8
Chunk 177
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 a reduction in force (collectively, the “Restructuring Initiatives”), which is in the process of being actioned. The Restructuring Initiatives are expected to result in a range of approximately $75 million - $100 million of aggregate charges, which are anticipated to include $47 million - $55 million of one-time cash termination benefits and costs associated with the decommissioning of facilities and the early termination of leases. The Company anticipates that the Restructuring Initiatives will be substantially completed by the end of the fiscal year ending December 31, 2026.

(b) During the fourth quarter of 2024, none of the Company's directors or executive officers (as such term is defined in Rule 16a-1(f) promulgated under the Exchange Act) adopted or terminated a "Rule 10b5-1 trading arrangement" or a "non-Rule 10b5-1 trading arrangement," as each term is defined in Item 408(a) of Regulation S-K.

(c) In the Company’s press release, dated February 20, 2025, as well as the Company’s current report on Form 8-K, dated the same date, which furnished a copy of such press release as Exhibit 99.1, the Company’s preliminary balance sheet incorrectly indicated that the Company had Other non-current liabilities of $85.8 million. $36.0 million relates to certain foreign exchange hedge liabilities that should have been classified in Accruals and other current liabilities as of December 31, 2024. This has been corrected in the Consolidated Financial Statements presented herein.

ITEM 9C.DISCLOSURE REGARDING FOREIGN JURISDICTIONS THAT PREVENT INSPECTIONS

None.

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Table of Contents

PART III

ITEM 10.DIRECTORS, EXECUTIVE OFFICERS AND CORPORATE GOVERNANCE

The information required by this item is incorporated by reference to, and will be contained in, the Company's definitive proxy statement for the 2025 Annual Meeting of Stockholders, which is expected to be filed within 120 days after December 31, 2024 (the “2025 Proxy Statement”). The information required by this item regarding executive officers appears as the Supplemental Item in Part I.

Stockholders may recommend individuals to the Nominating and Governance Committee for consideration as potential director candidates by submitting the names of the recommended individuals, together with appropriate biographical information and  background materials, to the Nominating and Governance Committee