Company: LILA
Filing Date: 2025-04-09
Form Type: DEF 14A
Source: 0001712184-25-000084
Chunk: 49

Company: Liberty Latin America Ltd.
Filing Date: 2025-04-09
Form: DEF 14A
Chunk 49
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,000 |     |                                                  |  62,992 |     |                        | 125,984 |     |                                                  | 119,225 |     |                        | 238,450 |

One-third of the 2024 RSUs and 2024 SARs vest on March 15 of each of 2025, 2026 and 2027. The SARs have a term of ten years and base prices equal to the market closing price of the common shares on the grant date of March 12, 2024, which was $6.16 for LILA and $6.22 for LILAK. The SARs and RSUs are subject to tax withholding, forfeiture, acceleration, amendment or other terms in connection with certain terminations of employment, change-of-control events and other terms with executives, generally consistent with the terms of equity awards previously granted by the company.

Other than Mr. Nair and Ms. Lorenzo, our NEOs’ 2024 target equity values did not change from their 2023 target values. For 2024, we increased Mr. Nair’s target equity value from $7.25 million to $7.5 million pursuant to the 2022 Nair Agreement, and we increased Ms. Lorenzo’s target equity value from $1.5 million to $2.0 million in connection with her transition from Chief Customer Officer to Senior Vice President, General Manager of CWP in January 2024.

CEO Award of LILAB PSUs. Upon the effective date of the 2022 Nair Agreement, Mr. Nair received an award of 625,000 LILAB shares, that was split into three installments (the Sign-on LILAB Award ). The first two installments vested on July 28, 2022 and March 15, 2023. The final installment, consisting of 312,500 PSUs, would vest on March 15, 2024, subject to the compensation committee’s determination that Mr. Nair’s 2023 performance met or exceeded the compensation committee’s expectations. After reviewing Mr. Nair’s 2023 performance, the committee determined to vest 50% of the final installment (or 156,250 PSUs) and to condition vesting of the remaining 50% upon achievement of Mr. Nair’s 2024 performance objectives.

The performance objectives for 2024 with respect to the remaining 156,250 PSUs were:

• Financial goals: delivering growth in revenue