Company: CIO
Filing Date: 2025-03-12
Form Type: DEF 14A
Source: 0001193125-25-052437
Chunk: 49

Company: City Office REIT, Inc.
Filing Date: 2025-03-12
Form: DEF 14A
Chunk 49
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’s performance. After consideration of the Company’s actual performance against the 2024 Performance Objectives, the total remuneration of the NEOs versus the Company’s peer sets and overall performance, the Compensation Committee and Board of Directors approved and issued the following restricted stock units and Performance RSU Awards to our NEOs, which will be reflected in the 2025 total compensation table:

| Recipient       |     | Number of Restricted Stock 
 Unit Awards Awarded        |        |     | Number of Performance RSU 
 Awards Awarded            |        |
| James Farrar    |     |                            | 60,000 |     |                           | 90,000 |
| Gregory Tylee   |     |                            | 60,000 |     |                           | 90,000 |
| Anthony Maretic |     |                            | 29,581 |     |                           | 44,371 |

The Performance RSU Awards granted to our NEOs on January 23, 2025 are subject to vesting after the Performance RSU Measurement Period beginning January 1, 2025 and ending on December 31, 2027. The Effect of Regulatory Requirements on Our Executive Compensation Internal Revenue Code (“IRC”) Sections 280G and 4999 .IRC Section 280G limits our ability to take a tax deduction for certain “excess parachute payments” (as defined in Section 280G) and IRC Section 4999 imposes excise taxes on each executive that receives “excess parachute payments” paid by CIO in connection with a change in control. The Compensation Committee does not anticipate that the Company would be required to pay non-deductiblecompensation upon any change in control of the Company. Accounting Rules .Various rules under generally accepted accounting principles determine the manner in which CIO accounts for grants of equity-based compensation to our employees in our financial statements. The Compensation Committee takes into consideration the accounting treatment of alternative grant proposals under Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”) Topic 718, “Stock Compensation” (formerly, FASB Statement 123R), or FASB ASC Topic 718, when determining the form and timing of equity compensation grants to employees, including our NEOs. The accounting treatment of such grants, however, is not determinative of the type, timing, or amount of any particular grant of equity-based compensation to our employees. Potential Impact on Compensation from Financial Restatements .Effective November 8, 2023, in compliance