Company: FCFS
Filing Date: 2025-04-25
Form Type: DEF 14A
Source: 0000840489-25-000055
Chunk: 53

Company: FirstCash Holdings, Inc.
Filing Date: 2025-04-25
Form: DEF 14A
Chunk 53
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 number of shares, while the time-vested awards are fixed at target. The target number of shares for each participating executive officer is based on the scope of the officer’s responsibilities, internal pay equity among participating executive officers with similar responsibilities and competitive considerations and is reviewed annually by the Compensation Committee.

2024 Senior Executive LTIP Grants

In January 2024, performance-based and time-based restricted stock awards were granted under the senior executive LTIP to the CEO, COO and CFO. The Compensation Committee established the following vesting conditions, award weightings and performance/service periods for the January 2024 awards:

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The Compensation Committee believes the nature and weighting of the senior executive LTIP awards granted for 2024 provide an appropriate mix of long-term targets directed at core earnings growth, total stockholder returns and executive retention.

• The adjusted net income performance measure provides what the Compensation Committee believes is the most meaningful measure of the Company’s true long-term operating performance. The adjusted net income measure excludes certain items that management believes are non-operating in nature and are not representative of the Company’s core operating performance. The adjusted net income cumulative three-year performance goal, which was established in January 2024, is based on target adjusted net income for 2024 (on a basis which was equivalent to the level of the target earnings metrics used in the senior executive APIP) with increases in 2025 and 2026 based on long-term growth rates established by the Compensation Committee. The Compensation Committee has elected not to disclose adjusted net income goals for the 2024-2026 LTIP grants due to the potential to cause competitive harm and to remain consistent with the Company’s policy of not providing long-term guidance to the market.

• The TSR measure is tied directly to the Company’s share price and dividend payouts compared to its defined compensation peers. This metric measures management’s ability to create future stockholder value and further aligns the interests of management and the Company’s stockholders. The three-year TSR target was established at the 50 th percentile of the 2024 Peer Group. The threshold TSR award was set at the 25 th percentile while the maximum TSR award was set at the 75 th percentile.

• Time-vested awards provide a further executive retention incentive and are structured so that the awards do not vest unless the executive remains employed for the three-year period ending December 31, 2026. These awards further align executives’ interests with those of stockholders through long-term ownership of Company