Company: QXO-PB
Filing Date: 2025-04-02
Form Type: DEF 14A
Source: 0001140361-25-011886
Chunk: 42

Company: QXO, Inc.
Filing Date: 2025-04-02
Form: DEF 14A
Chunk 42
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     | $1,540,000 |
| $ 10 Billion to $20 Billion      |     | 1,185,000 |     | 155%          |     | $1,836,750 |
| $ 20 Billion to $30 Billion      |     | 1,425,000 |     | 190%          |     | $2,707,500 |
| Greater than $30 Billion         |     | 1,615,000 |     | 190%          |     | $3,068,500 |

Mr. Essaid also received a signing bonus of $3 million in recognition of a portion of incentives that he forfeited from his prior employer, subject to repayment of the net after-tax amount if he terminates his employment other than for good reason, death or disability, or if the company terminates his employment with cause within two years following his start date. Grant of Initial Equity Awards. Pursuant to the terms of the Essaid Employment Agreement, on July 30, 2024, the company granted to Mr. Essaid an award of 847,500 RSUs (which included 235,000 RSUs intended to recognize long-term incentives forfeited from Mr. Essaid’s prior employer) and 1,137,500 PSUs at target. Except in the event of a change of control of the company or his death, all shares delivered in settlement of these RSUs and PSUs (net of shares to cover taxes) are subject to a transfer restriction that prohibits Mr. Essaid from disposing of such shares until December 31, 2029 without committee approval. Mr. Essaid’s Employment Agreement does not provide for additional equity awards to Mr. Essaid during the vesting terms of the initial grants, based on business planning and compensation practices as of the date of the agreement. The RSUs and PSUs granted to Mr. Essaid have similar vesting schedules and performance conditions as described above for Mr. Jacobs. Involuntary Termination . Generally, if the company terminates Mr. Essaid’s employment without cause or he resigns for good reason (as defined in the Essaid Employment Agreement), he will be entitled to receive, subject to his execution and non-revocation of a release of claims: (a) a cash payment equal to 12 months of annual base salary; (b) a prorated target bonus for the year of termination (in addition to any bonus earned for the prior year that remains unpaid); and (