Company: TIPT
Filing Date: 2025-03-17
Form Type: DEF 14A
Source: 0001393726-25-000038
Chunk: 49

Company: TIPTREE INC.
Filing Date: 2025-03-17
Form: DEF 14A
Chunk 49
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 the earlier of (1) the ten-year anniversary of the grant date of the Stock Option and (2) the date of the termination of Mr. Barnes’s (with respect to Mr. Barnes’s Stock Options) or Mr. Ilany’s (with respect to Mr. Ilany’s Stock Option) service with the Company for cause (as defined in the Stock Option Agreement) or their respective voluntary termination of service with the Company (other than a termination of employment for good reason (as defined in the Employment Agreement) or for retirement (as defined below under “—Potential Payments to Named Executive Officers Upon Termination or Change in Control”).

(2) Based on the common stock closing price on the date such options are granted.

(3) Based on the common stock closing price of $20.86 on December 31, 2024 (the last trading day of the year).

(4) Consists of the remaining unvested 2021 PRSUs and the 2024 PRSUs that vest upon Tiptree satisfying the relevant Tiptree share price target milestones in accordance with the terms of the respective PRSUs. The fair value of the PRSUs was estimated on the date of grant using a Black-Scholes-Merton option pricing formula embedded within a Monte Carlo model used to simulate the future stock prices of Tiptree, which assumes that the market requirement is achieved. For more detail, including the underlying valuation assumptions for PRSUs and stock option awards, please see Note 19, Stock Based Compensation, to our consolidated financial statements in our 2024 Annual Report on Form 10-K.

(5) Mr. McKinney’s 30,846 unvested RSUs consist of (a) 15,736 RSUs granted to him on February 17, 2022, which cliff vested on February 20, 2025 and (b) 15,110 RSUs granted to him on February 22, 2023, which will cliff vest on February 20, 2026, in each case generally subject to Mr. McKinney’s continued employment with Tiptree.

(6) Mr. Rifkind’s 73,206 unvested RSUs consist of (a) 26,750 RSUs granted to him on February 17, 2022, which cliff vested on February 20, 2025, (b) 22,664 RSUs granted to him on February 22, 2023, which will cliff vest