Company: CIO
Filing Date: 2025-03-12
Form Type: DEF 14A
Source: 0001193125-25-052437
Chunk: 45

Company: City Office REIT, Inc.
Filing Date: 2025-03-12
Form: DEF 14A
Chunk 45
---
). If earned, these restricted stock units will be settled in the form of shares of our common stock, pursuant to the EIP, or if approved by the Compensation Committee, in cash of equivalent value. Restricted stock units do not entitle the recipient to the rights of a holder of common stock until shares are issued upon settlement of the vested units. The restricted stock unit award agreements generally also grant the right to receive dividends pursuant to the dividend equivalency rights, which will be reinvested in shares of our common stock and delivered to the recipient upon, and subject to, satisfaction of the vesting criteria applicable to the related restricted stock units. In connection with the payment of dividends declared of $0.10 per share on December 15, 2023, $0.10 on March 15, 2024, $0.10 per share on June 14, 2024 and $0.10 per share on September 13, 2024, Mr. Farrar was granted an aggregate 10,531 restricted stock units, Mr. Tylee was granted an aggregate 10,531 restricted stock units and Mr. Maretic was granted an aggregate 4,061 restricted stock units. These additional restricted stock units vest in accordance with the same vesting schedule, and upon the same conditions, as the underlying restricted stock units as to which the dividend equivalent rights were granted (generally vesting on the first three anniversaries of the original grant date). Future awards will be at the discretion of our Compensation Committee. The Time Vesting Restricted Stock Unit component of the long-term equity incentive compensation that was issued in January 2024 for each of the NEOs for calendar year 2023 performance is listed below.

| Recipient       |     | Restricted Stock Units Granted 
 During Calendar 2024           |        |     | Value of Restricted Stock Units Granted 
 During Calendar 2024(1)                 |         |
|:----------------|:----|:-------------------------------|-------:|:----|:----------------------------------------|--------:|
| James Farrar    |     |                                | 73,289 |     | $                                       | 399,425 |
| Gregory Tylee   |     |                                | 73,289 |     | $                                       | 399,425 |
| Anthony Maretic |     |                                | 30,537 |     | $                                       | 166,427 |

| (1) | The amounts represent the aggregate grant date fair values, computed in accordance