Company: SBH
Filing Date: 2025-12-10
Form Type: DEF 14A
Source: 0001193125-25-313464
Chunk: 49

Company: Sally Beauty Holdings, Inc.
Filing Date: 2025-12-10
Form: DEF 14A
Chunk 49
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 bonuses under the AIP and were granted LTI awards in the form of 50% PSUs and 50% RSUs.✓ We achieved each of our FY25 AIP financial performance goals: AOI performance was slightly below target, H1 Comparable Sales performance was slightly above threshold, and H2 Comparable Sales performance was above target. Accordingly, the weighted payout for the financial component of the AIP was 67.5% of target. Our teams remained focused on delivering achievements through our core Strategic Initiatives – Customer Centricity, Own Brands & Innovation, Efficiency & Optimization, and Sustainability & Culture. The work done in FY25 to enhance and implement these growth strategies continue to build upon our modern and dynamic retail / distribution platform, delivering strong results in FY25 and preparing us for a successful future. Importantly, we remain steadfast in our commitment to enhance value for our customers and shareholders over the long-term. As such, given the successful activation and enhancement of these long-term growth initiatives, as well as our strong results throughout FY25, the Committee determined a 137.5% payout for performance with respect to our Strategic Initiatives was appropriate (20% weighting, at target). Overall, after weighting the financial and Strategic Initiative components, the AIP payouts were 95% of target.✓ Following the completion of the performance period on September 30, 2025, the Committee determined that the FY23-25 relative total shareholder return PSUs (“FY23-25 rTSR PSUs") granted in November 2022 were earned at 77.9% of the target award.✓ Following the completion of the performance period on September 30, 2025, the Committee determined that the third one-year performance period of the FY23-25 adjusted operating income margin PSUs (“FY23-25 Y3AOIM PSUs”) granted in November 2022, the second one-year performance period of the FY24-26 adjusted operating income margin PSUs (“FY24-26 Y2AOIM PSUs”) granted in November 2023, and the first one-year performance period of the FY25-27 adjusted operating income margin PSUs (“FY25-27 Y1AOIM PSUs”) granted in November 2024 were earned at 97.6% of the target award. The earned FY24-26 Y2AOIM PSUs and  FY25-27 Y1AOIM PSUs were banked and will be paid out after completion of all performance periods on