Company: PRMB
Filing Date: 2025-01-24
Form Type: S-1
Source: 0001193125-25-012325
Chunk: 347

Company: Primo Brands Corp
Filing Date: 2025-01-24
Form: S-1
Chunk 347
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 (460 | ) |     |                  | 15.54 |
| Forfeited                                          |     |                |  (101 | ) |     |                  | 16.26 |     |                 |  (76 | ) |     |                  | 15.52 |
| Outstanding as of December 30, 2023                |     |                | 1,503 |   |     | $                | 16.61 |     |                 |  544 |   |     | $                | 15.29 |
| Vested or expected to vest as of December 30, 2023 |     |                | 1,865 |   |     | $                | 16.55 |     |                 |  544 |   |     | $                | 15.29 |

The total fair value of Performance-based RSUs vested and issued during the fiscal years ended December 30, 2023, December 31, 2022 and January 1, 2022 was $7.1 million, $4.7 million and $8.1 million, respectively. The total fair value of Time-based RSUs vested and issued during the fiscal years ended December 30, 2023, December 31, 2022, and January 1, 2022 was $7.1 million, $6.6 million, and $3.9 million, respectively. Employee Share Purchase Plan The Company has maintained the Primo Water Corporation Employee Share Purchase Plan (the “ESPP”) since 2015. The ESPP qualifies as an “employee share purchase plan” under Section 423 of the Internal Revenue Code of 1986 (“IRC”), as amended. Substantially all employees are eligible to participate in the ESPP and may elect to participate at the beginning of any quarterly offering period. The ESPP authorizes the issuance, and the purchase by eligible employees, of up to 3,000,000 shares of Primo common shares through payroll deductions. As of December 30, 2023, 2,091,606 shares remained available for issuance under the ESPP. Eligible employees who choose to participate may purchase Primo common shares at 90% of market value on the first or last day of the quarterly offering period, whichever is lower. The minimum contribution which an eligible employee may make under the ESPP is 1% of the employee’s eligible compensation, with the maximum contribution limited to 15% of the employee