Company: TRUE
Filing Date: 2025-04-08
Form Type: DEF 14A
Source: 0001104659-25-033025
Chunk: 50

Company: TrueCar, Inc.
Filing Date: 2025-04-08
Form: DEF 14A
Chunk 50
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 two times his or her annual base salary. The NEOs covered by the stock ownership guidelines are expected to satisfy them within five years from the individual’s date of hire (or the adoption of the guidelines for individuals hired before the effective date). As of March 31, 2025, each of our NEOs covered by the stock ownership guidelines was in compliance with the guidelines after taking all applicable phase-in periods required for such compliance into account. Specifically, as of March 31, 2025, Mr. Swart held a number of shares of our common stock that was sufficient to comply with the guidelines and Messrs. Reigersman and Foley each held a number of shares that was sufficient to comply without taking the applicable phase-in periods into account. Each of Ms. Angel and Mr. Ku was in compliance after taking the phase-in period into account, which will conclude with respect to them on April 18, 2027 and February 13, 2028, respectively. 34 TABLE OF CONTENTS Compensation Discussion and Analysis 2025 ANNUAL PROXY STATEMENT Recoupment of Incentive Compensation, or Clawback, Policy Our compensation committee adopted a compensation recovery policy, which we refer to as the Rule 10D-1 Policy, effective October 2, 2023, in accordance with Rule 10D-1 promulgated under the Exchange Act and applicable Nasdaq listing standards. The Rule 10D-1 Policy applies to current and former executive officers of the Company as defined in Rule 10D-1, which we refer to as covered officers, and which includes our NEOs. The Rule 10D-1 Plan is administered by our compensation committee. The Rule 10D-1 Policy applies to certain incentive-based compensation, which we refer to as eligible compensation, and which is granted to covered officers and based wholly or in part upon our attainment of certain financial reporting measures and that is received by covered officers on or after October 2, 2023. In the event that we are required to prepare an accounting restatement due to material noncompliance with any financial reporting requirement under U.S. federal securities laws, including restatements that correct an error in previously issued financial statements that is material to the previously issued financial statements or that would result in a material misstatement if the error were corrected in the current period or left uncorrected in the current period, the Rule 10D-1 Policy requires us to recover eligible compensation from our covered officers to the extent that