Company: PRMB
Filing Date: 2025-03-07
Form Type: 424B3
Source: 0001193125-25-049851
Chunk: 64

Company: Primo Brands Corp
Filing Date: 2025-03-07
Form: 424B3
Chunk 64
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 the end of the three-year performance period if 100% of the “target” relative TSR is achieved, with the number of units determined                                    
 using the closing price of Primo Brands common shares on the Closing. The amounts included in the “Maximum” column reflect the total number of shares that would be issued at the end of the three-year                                 
 performance period if the ‘outperform’ measure of relative TSR is achieved. All such awards were converted into 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                                                                                                                                                                                               |

41

| (3) | Unless otherwise noted, the amounts in this column represent grants of                                                                                                                                                                                 
 time-based restricted share units, with 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