Company: PRMB
Filing Date: 2025-02-27
Form Type: 10-K
Source: 0002042694-25-000003
Chunk: 154

Company: Primo Brands Corp
Filing Date: 2025-02-27
Form: 10-K
Item: Item 16
Chunk 154
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 Water Equity Incentive PlansIn connection with the Transaction, the Company adopted the Legacy Primo Water Corporation Equity Incentive Plan (the “Legacy Equity Plan”) and the Legacy Primo Water Corporation 2018 Equity Incentive Plan (the “Legacy 2018 Equity Plan”, and together with the Legacy Equity Plan, the “Legacy Equity Plans”) which assumed the outstanding Primo Water equity incentive awards and issued corresponding replacement awards with respect to the Company's Class A common stock. The Company does not expect to issue any additional awards under the Legacy Equity Plans going forward. The Legacy Equity 

F-34

Plans are administered by the Compensation Committee or any other Board committee as may be designated by the Board of Directors from time to time. Stock-Based Compensation ExpenseStock-based compensation expense is recorded in Selling, general and administrative expenses in the Consolidated Statements of Operations. As referenced below: (i) “Performance-based RSUs” represent restricted share units with performance-based vesting, (ii) “Time-based RSUs” represent restricted share units with time-based vesting, (iii) “Stock options” represent non-qualified stock options, (iv) “Other awards” represent common shares issued in consideration of the annual Board retainer fee to non-management members of our Board, profit interest units in Triton Water Parent Holdings, LP with time-based vesting ("Time-based PIUs"), and profit interest units in Triton Water Parent Holdings, LP with time- and performance-based vesting ("Performance-based PIUs").The table below summarizes the stock-based compensation expense for the years then ended:For the Year Ended December 31,(in millions of U.S. dollars)202420232022Performance-based RSUs$0.4 $— $— Time-based RSUs6.9 — — Other awards1.5 1.3 1.8 Total 1$8.8 $1.3 $1.8 ______________________1     Includes $0.1 million of stock-based compensation expense for the year ended December 31, 2024 associated with the Company's discontinued operations, which is included in Net income loss from discontinued operations, net of income taxes on the Consolidated Statements of Operations.The tax benefit recognized related to stock-based compensation expense for the year ended December 31, 2024 was $3.5 million.  There was no tax benefit recognized related to stock-based compensation expense for the years ended December 31, 2023