Company: PRMB
Filing Date: 2025-01-24
Form Type: S-1
Source: 0001193125-25-012325
Chunk: 293

Company: Primo Brands Corp
Filing Date: 2025-01-24
Form: S-1
Chunk 293
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 from the Parent, stock-based compensation expense recognized by the
Company was $1.3 million and $1.8 million for the year ended December 31, 2023 and 2022 (Successor), respectively. These costs are reflected as compensation expense within selling, general and administrative expenses. The expense was
determined by the Parent using the Black-Scholes pricing model for determining the estimated fair value of PIUs. The Black-Scholes pricing model requires the use of subjective assumptions including the units’ expected term and the price
volatility of the underlying stock. The total future compensation cost related to nonvested time-vesting PIUs is $2.9 million, which is expected to be recognized over a weighted-average period of 2.9 years as of December 31, 2023.

NOTE 14—EMPLOYEE BENEFIT PLANS

Defined Contribution Plan

The Company provides defined contribution retirement plans for substantially all of its employees (“401(k) Plan”). The
Company’s matching contribution for employees provides the option to match contributions for eligible participants up to 4% of the employee’s eligible pay. The Company may also make discretionary retirements contributions, from 3% to 9% of
eligible pay, for certain employees under the plan. The total expense

F-38

for the Company’s contributions to the 401(k) Plan for the years ended December 31, 2023 and 2022 (Successor) was $44.8 million and $43.1 million, respectively. The total
expense for the Company’s contributions to the 401(k) Plan for the period from February 3, 2021 to December 31, 2021 (Successor) and January 1, 2021 to March 31, 2021 (Predecessor) was $25.4 million and
$13.5 million, respectively.

Deferred Compensation Plans

As part of the acquisition of NWNA, the Company acquired the assets of NWNA’s deferred compensation plan and assumed the related liabilities
(“Nestlé Deferred Compensation Plan” or “Nestlé Plan”). The Nestlé Deferred Compensation Plan had a liability of $221.4 million for future payments to be made under the legacy Nestlé Plan, with an
offsetting asset for the investments held in trust of $221.4 million to fund future payments. The Nestlé Plan was fully funded, and each participant was fully vested. Settlement of the Nestlé Plan was