Company: CIO
Filing Date: 2025-03-12
Form Type: DEF 14A
Source: 0001193125-25-052437
Chunk: 53

Company: City Office REIT, Inc.
Filing Date: 2025-03-12
Form: DEF 14A
Chunk 53
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. Farrar—17,197, Mr. Tylee—17,197, and Mr. Maretic—7,091. |

| (2) | In May 2024, the Company entered into acknowledgment agreements (the “Acknowledgment Agreements”) with each of James Farrar and Gregory Tylee, clarifying that to the extent that future vesting of restricted stock units, performance RSUs and dividend equivalency rights could otherwise be inconsistent with the annual limitation set forth in Section 6 of the Company’s Equity Incentive Plan (the “Annual Limitation”), the number of shares issuable pursuant to such vesting shall not exceed the Annual Limitation. Pursuant to the terms of the Acknowledgement Agreements, to the extent any grant would exceed the Annual Limitation, (i) first, all dividend equivalency rights shall be issued and paid in cash, to the extent permitted pursuant to Section 12(a) of the Company’s Equity Incentive Plan (the “Cash DERs Payment”), (ii) then, to the extent that any grants exceed the Annual Limitation after giving effect to the Cash DERs Payment, such grants shall be adjusted in accordance with the Company’s Equity Incentive Plan so that the maximum number of shares that may underlie grants in any one year to any grantee shall not exceed the Annual Limitation as specified in Section 6 of the Plan, or such other limit, if any, as specified in the Company’s Equity Incentive Plan. |

| (3) | The amounts included in the Grant Date Fair Value of Stock Award column represents the grant date fair value of the awards made to the NEOs in 2024 computed in accordance with FASB ASC Topic 718, using closing prices for our common stock of: (i) $5.45 per share on January 24, 2024; (ii) $4.57 per share on April 24, 2024; (iii) $5.65 per share on July 24, 2024; and (iv) $5.67 per share on October 24, 2024. Excludes the value of any dividend equivalents related to such awards. The grant date fair value of such dividend equivalents during the year ended December 31, 2024 was as follows: Mr. Farrar—$91,017; Mr. Tylee—$91,017; and Mr. Maretic—$37,527. |

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