Company: CGC
Filing Date: 2025-07-25
Form Type: PRE 14A
Source: 0001104659-25-070853
Chunk: 59

Company: Canopy Growth Corp
Filing Date: 2025-07-25
Form: PRE 14A
Chunk 59
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 and individual objectives and is structured as follows: Fiscal 2025 Target Award Levels Under the STIP, and pursuant to their respective employment agreements, each NEO has a target award expressed as a percentage of base salary. Payouts are based on the achievement of overall Company performance relative to pre-established qualitative and quantitative objectives. NEOs may receive no payout for performance at or below threshold level, and a maximum payout of 200% of target for performance at or above maximum objectives. As part of the leadership transition, the target short-term incentive opportunity for the CEO position has been reduced from 125% to 100% of base salary. This adjustment reflects a more conservative pay approach in response to the Company’s evolving business environment and increased focus on profitability. This modification underscores Canopy Growth’s commitment to aligning executive compensation with the new business size, managing costs, and maintaining a competitive yet disciplined incentive structure.

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The threshold, target, and maximum awards for our NEOs are as follows:

| ​ | ​ | Individual               | ​ | ​ | ​ | Below Threshold(% of salary) | ​ | ​ | ​ | Target(% of salary) | ​ | ​ | ​ | Maximum(% of salary) | ​ | ​ |
| ​ | ​ | Luc Mongeau | CEO        | ​ | ​ | ​ | 0%                           | ​ | ​ | ​ | 100%                | ​ | ​ | ​ | 200%                 | ​ | ​ |
| ​ | ​ | Judy Hong | Former CFO   | ​ | ​ | ​ | 0%                           | ​ | ​ | ​ | 75%                 | ​ | ​ | ​ | 150%                 | ​ | ​ |
| ​ | ​ | Christelle Gedeon | CLO  | ​ | ​ | ​ | 0%                           | ​ | ​ | ​ | 75%                 | ​ | ​ | ​ | 150%                 | ​ | ​ |
| ​ | ​ | David Klein | Former CEO | ​ | ​ | ​ | 0%                           | ​ | ​ | ​ | 125%                | ​ | ​ | ​ | 250%                 | ​ | ​ |

Fiscal 2025 STIP Performance Criteria & Results Per the Company’s STIP initially adopted by the Board for the Company’s fiscal year ended March 31, 2021 (“ Fiscal 2021 ”), the performance of the Company’s executive leadership team, including the NEOs, was