Company: PRMB
Filing Date: 2025-02-07
Form Type: S-1/A
Source: 0001193125-25-022806
Chunk: 357

Company: Primo Brands Corp
Filing Date: 2025-02-07
Form: S-1/A
Chunk 357
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 to reduce the maximum number of shares remaining available for issuance under the Equity Plans; provided that the total number of shares available for issuance under the Equity Plans are reduced two shares for each share issued pursuant to a “full-value” award (i.e., an award other than a stock option or stock appreciation right). Shares to be issued pursuant to Time-based RSUs, Performance-based RSUs, or stock options that are forfeited, expired, or are canceled or settled without the issuance of shares return to the pool of shares available for issuance under the Equity Plans. As of December 30, 2023, there were approximately 819,000 shares available for future issuance under the Amended and Restated Equity Plan, and approximately 1,406,000 shares available for future issuance under the 2018 Equity Plan. The table below summarizes the share-based compensation expense for the fiscal years ended December 30, 2023, December 31, 2022, and January 1, 2022. Share-based compensation expense is recorded in SG&A expenses in the Consolidated Statements of Operations. As referenced below: (i) “Performance-based RSUs” represent restricted share units with performance-based vesting, (ii) “Time-based RSUs” represent restricted share units with time-based vesting, (iii) “Stock options” represent non-qualifiedstock options, (iv) “Director share awards” represent common shares issued in consideration of the annual Board retainer fee to non-managementmembers of our Board, and (v) the “ESPP” represents the Primo Water Corporation Employee Share Purchase Plan, under which common shares are issued to eligible employees at a discount through payroll deductions.

|                        | (in millions of U.S. dollars) | For the Fiscal Year Ended | December 30, 2023 |     |   | December 31, 2022 |     |   | January 1, 2022 |
|:-----------------------|:------------------------------|:--------------------------|------------------:|:----|:--|------------------:|:----|:--|----------------:|
| Stock options          |                               | $                         |               0.2 |     | $ |               0.8 |     | $ |             3.0 |
| Performance-based RSUs |                               |                           |               9.3 |     |   |               6.5 |     |   |             7.4 |
| Time-based RSUs        |                               |                           |