Company: TENB
Filing Date: 2025-04-03
Form Type: DEF 14A
Source: 0001660280-25-000058
Chunk: 59

Company: Tenable Holdings, Inc.
Filing Date: 2025-04-03
Form: DEF 14A
Chunk 59
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962 |     |                             | 11.7 | % |
| Mr. Thurmond            |     |                               69,888 |     |                                                     | 3,298,714 |     |                                              | 37,632 |     |                                                             | 1,776,230 |     |                             |  5,074,944 |     |                             | 48.2 | % |

2024 RSU Awards

RSU awards serve as an incentive that is aligned with the long-term interests of our stockholders because their value increases (or decreases) with any change in the value of the underlying shares. Further, RSUs serve our retention objectives because they are subject to a multi-year vesting requirement based on continued service. The RSU awards granted to our Named Executive Officers vest over a four-year period, with 25% of the total number of units subject to the award vesting on the first anniversary of February 22, 2024, the vesting commencement date, and 1/16 th of the total number of units subject to the award vesting in quarterly installments over the following three years, contingent upon the Named Executive Officer’s continued employment by us through each applicable vesting date. As further discussed in the “Executive Compensation” section below under the heading “—Potential Payments Upon Termination or Change in Control” and in accordance with his employment and equity award agreements as described under the heading “—Employment Agreements with Our Named Executive Officers—Mr. Yoran,” the vesting of Mr. Yoran’s unvested RSUs, including the 2024 RSU award, accelerated in connection with his death.

2024 PSU Awards

For 2024, PSUs represented 35% of the equity award mix for our Named Executive Officers (based on target grant date values). Because PSUs are only earned upon achievement of key performance goals that drive our business and our stockholder value, the Compensation Committee believes that these awards increase the alignment between the interests of our executive officers and stockholders and reinforce the Company’s pay for performance philosophy.

The PSU awards were subject to the achievement of (i) pre-established target levels for global bookings (weighted 33.33%) and revenue + unlevered free cash flow (weighted 66.67%) during the one-year performance period beginning on January 1, 2024, and (ii) a service-based vesting requirement, with 25% of the total number of PSUs deemed to be earned based on performance by the