Company: FOX
Filing Date: 2025-09-25
Form Type: DEF 14A
Source: 0001628280-25-042772
Chunk: 48

Company: Fox Corp
Filing Date: 2025-09-25
Form: DEF 14A
Chunk 48
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 options set as the volume-weighted average price of the Class A Common Stock on Nasdaq on the date of grant and the number of RSUs and PSUs underlying each award determined based on the 20-day trailing average of the closing price of the Class A Common Stock as of the last day of the fiscal year.

Vesting of Performance-Based Long-Term Equity-Based Incentive Awards for Fiscal 2023-2025 Performance Period

As previously disclosed in our proxy statement filed in connection with our 2022 Annual Meeting of Stockholders, in August 2022, the Compensation Committee granted long-term equity-based incentive awards that include PSUs (the “fiscal 2023 PSUs”) for the three-year performance period ended June 30, 2025 (the “fiscal 2023-2025” performance period). The fiscal 2023 PSUs vested

| 28 |     | 2025 Proxy Statement |

#### COMPENSATION DISCUSSION AND ANALYSIS
based on the extent to which average annual adjusted EPS 2 growth (15%), average annual adjusted FCF 3 growth (15%), and the Company’s Relative TSR (70%) (collectively referred to as the “performance metrics”) were achieved over the fiscal 2023-2025 performance period.

In August 2022, the Compensation Committee established the following performance levels and weightings for the fiscal 2023 PSUs’ performance metrics:

|                    |     | Fiscal 2023 – 2025 PSU Performance Metrics |     |                     |     |                        |     |                    |
| Performance Levels |     | Adjusted EPS Growth                        
 (15% Weighting)                            |     | Adjusted FCF Growth 
 (15% Weighting)     |     | TSR (70% Weighting)(a) |     | Payout as a % of   
 Target Opportunity |
| Maximum            |     | 22%                                        |     | 22%                 |     | ≥75thPercentile        |     | 200%               |
| Target             |     | 12%                                        |     | 12%                 |     | 50thPercentile         |     | 100%               |
| Threshold          |     | 2%                                         |     | 2%                  |     | <25thPercentile        |     | 0%                 |

(a) TSR has a 50% payout at the 25 th Percentile.

In August 2025, the Compensation Committee evaluated the average annual