Company: CELH
Filing Date: 2025-04-14
Form Type: DEF 14A
Source: 0001193125-25-080192
Chunk: 42

Company: Celsius Holdings, Inc.
Filing Date: 2025-04-14
Form: DEF 14A
Chunk 42
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 no different. Our annual compensation process is typically as follows: Compensation Committee Annual Compensation Process

|             |     | Q4 2023                        |     | Q1 2024                                |     | Q4 2024                        |     | Q1 2025                                                                        |
| Pay Actions |     | ◾  FY24 Target Pay Established |     |                                        |     | ◾  FY25 Target Pay Established |     |                                                                                |
| Plan Design |     |                                |     | ◾  FY24 Incentive Plan Design Approved |     |                                |     | ◾  FY24 Incentive Plan Payouts Approved ◾  FY25 Incentive Plan Design Approved |

| ❖ | 2024 Target Pay Established |

At the end of 2023, the Committee considered Celsius’ record 2023 performance and significant growth, individual performance, and size-appropriatemarket pay data that reflected our larger scope of operations. When taking these factors into consideration, the Compensation Committee approved year-over-year increases in executives’ target pay from 2023 to 2024 to place our executives at competitive levels.

| 2025 PROXY STATEMENT |     | 27 |

COMPENSATION DISCUSSION AND ANALYSIS

| ❖ | 2024 Incentive Plan Design and Outcomes |

Alongside the compensation increases, at the beginning of 2024, the Company also set aggressive financial goals for 2024 to continue to ensure executive rewards were tied to strong financial performance. In addition, to further enhance the link between executive pay and stockholder return, we incorporated performance stock units (“PSUs”) tied to three-year revenue and relative total stockholder return goals that will vest in March 2027, subject to goal achievement. During 2024, our ability to achieve our financial goals was impacted by the timing of orders from PepsiCo, increased promotional activity, and PepsiCo’s incentive programs. While still delivering strong operating results, this resulted in lower-than-expected financial performance for the Company. As a result, the financial performance component of the 2024 annual bonus plan had a payout factor of 17% of target.

| ❖ | 2025 Target Pay Established |

Finally, in recognition of a challenging 2024, in Q4 of 2024 the Committee determined that it would not make substantive changes to target total direct pay levels (salary plus target annual incentive plus target long