Company: QLYS
Filing Date: 2025-04-11
Form Type: PRE 14A
Source: 0001140361-25-013472
Chunk: 58

Company: QUALYS, INC.
Filing Date: 2025-04-11
Form: PRE 14A
Chunk 58
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,570,000 |     |       4,115,365 |

PRSU Awards Approved in October 2021 In October 2021, our board of directors approved the grant of PRSU awards to our named executive officers. Each named executive officer’s PRSU award was divided into three tranches with one-year performance periods covering the calendar years 2022, 2023, and 2024, respectively. One-third of the target number of PRSUs was allocated to each tranche. Each tranche was and is to become eligible to vest based on the annual growth rate of the Company’s revenues and the Company’s adjusted EBITDA margin for the applicable performance period. As a result of the Company achieving revenue growth of 10% and adjusted EBITDA margin of 47% in 2024, the following number of PRSUs were earned and vested for the third tranche of each named executive officer’s PRSUs (which represents 103% of each named executive officer’s target number of PRSUs for that tranche): (i) 13,442 for Mr. Thakar, (ii) 4,854 for Ms. Kim, and (iii) 3,048 for Mr. Posey. PRSU Awards Approved in October 2022 In October 2022, our board of directors approved the grant of PRSU awards to our named executive officers. Each named executive officer’s PRSU award was divided into three tranches with one-year performance periods covering the calendar years 2023, 2024, and 2025, respectively. One-third of the target number of PRSUs was allocated to each tranche. Each tranche was and is to become eligible to vest based on the annual growth rate of the Company’s revenues and the Company’s adjusted EBITDA margin for the applicable performance period. As a result of the Company achieving revenue growth of 10% and adjusted EBITDA margin of 47% in 2024, the following number of PRSUs became eligible to vest for the second tranche of each named executive officer’s PRSUs (which represents 103% of each named executive officer’s target number of PRSUs for that tranche): (i) 15,579 for Mr. Thakar, (ii) 4,027 for Ms. Kim, and (iii) 2,302 for Mr. Posey. Of these PRSUs, the following number vested immediately upon our board of directors cert