Company: PRMB
Filing Date: 2025-03-05
Form Type: S-1/A
Source: 0001193125-25-045972
Chunk: 63

Company: Primo Brands Corp
Filing Date: 2025-03-05
Form: S-1/A
Chunk 63
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 the number of units determined using the closing price of Primo Brands common shares on the grant date, except for Mr. Rietbroek’s January 2024 grant, which                                                   
 used the closing price of the applicable underlying shares. Time-based restricted share units granted in 2024 vest in three equal installments on the first, second and third anniversaries of the grant date.                                         
 All performance-based restricted share units that were converted to time-based restricted share units in connection with the closing of the Transaction vest at the end of the original three-year performance period, subject to continued employment 
 through the vesting date.                                                                                                                                                                                                                              |

| (4) | This amount represents time-based restricted share units granted on January 1, 2024, pursuant to an                                                                                                                              
 inducement award, which vests in two equal installments on the first and second anniversaries of the grant date. As described in “—Setting Executive Compensation and the Role of Executive Officers in Compensation Decisions,” 
 Mr. Rietbroek received this one-time inducement equity award as a replacement award for compensation lost at his former employer.                                                                                                |

| (5) | This amount represents time-based restricted share units originally granted as a performance-based restricted                                                                                                                                       
 share unit award on January 1, 2024, which were converted to time-based restricted share units in connection with the closing of the Transaction and vest at the end of the original three-year performance period, subject to continued employment 
 through the vesting date. This award was granted in connection with Primo Water’s annual grant cycle; however, such award was not granted until Mr. Rietbroek’s employment commencement date with Primo Water.                                      |

| (6) | This amount represents time-based restricted share units originally granted as a performance-based restricted                                                                                                                                        
 share unit award, which were converted to time-based restricted share units in connection with the closing of the Transaction and vest at the end of the original three-year performance period, subject to continued employment through the vesting 
 date.                                                                                                                                                                                                                                                |

| (7) | The award reported in these columns reflects the Class B units in TWP Holdings granted to Mr. Austin.                                                                                                                               
 The Company believes that, despite the fact that the Class B units do not require the payment of an exercise price, they are most similar economically to stock options because the “profits interests” share in future profits and 
 appreciation in value in excess of the associated participation threshold, and as such, they are properly classified