Company: PRMB
Filing Date: 2025-02-07
Form Type: S-1/A
Source: 0001193125-25-022806
Chunk: 198

Company: Primo Brands Corp
Filing Date: 2025-02-07
Form: S-1/A
Chunk 198
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 and attended the
compensation committee meetings as requested. FW Cook provided recommendations to the compensation committee of Primo Water on the competitiveness and appropriateness of all elements of executive compensation, including equity incentive
compensation. FW Cook did not provide any additional services to the Board or management of Primo Water in 2024.

Prior to the
Transaction, the compensation committee of Primo Water reviewed compensation data and pay practices from Primo Water’s peer group and general industry surveys to determine the “market median” of the compensation of executives
performing similar functions in the competitive market and in Primo Water’s peer group. However, the board and the compensation committee of Primo Water retained discretion in setting the compensation for its Chief Executive Officer and its
other executive officers, respectively, including consideration of the factors deemed relevant in connection with hiring Mr. Rietbroek during fiscal 2024, including the approval of certain inducement equity awards and a sign-on bonus, which together replaced the

135

value of similar compensation from Mr. Rietbroek’s prior employer. As a result, compensation for these executives may have differed from the peer group and may have varied according to factors such as experience, position, tenure, individual and organizational factors, and retention needs, among others. The compensation committee of Primo Water annually evaluated and selected which companies would comprise its compensation peer group. With guidance from its compensation consultant and input and discussion with management, the compensation committee of Primo Water discussed annually whether the mix of companies in the peer group produced a valid competitive analysis relative to our talent requirements. The compensation committee of Primo Water, with input from FW Cook during its August 2023 meeting, determined that the peer group below, consisting of selected North American companies, was appropriate for setting 2024 target compensation.

| Companies used for Compensation Comparison |     |                                       |
| Addus HomeCare Corporation                 |     | Cintas Corporation                    |
| ADT Inc.                                   |     | Frontier Communications Parent, Inc.  |
| A.O. Smith Corporation                     |     | GDI Integrated Facility Services Inc. |
| ATN International, Inc.                    |     | Healthcare Services Group, Inc.       |
| Aveanna Healthcare Holdings Inc.           |     | Rollins, Inc.                         |
| The Brink’s Company                        |     | Stericycle Inc.                       |
| Casella Waste Systems, Inc.                |     | UniFirst Corporation                  |
| Chemed Corporation                         |     | Waste Connections, Inc