Company: CENX
Filing Date: 2025-04-25
Form Type: DEF 14A
Source: 0001552781-25-000153
Chunk: 47

Company: CENTURY ALUMINUM CO
Filing Date: 2025-04-25
Form: DEF 14A
Chunk 47
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 service period for a non-employee director) and the satisfaction of any performance objectives as specified in the discretion of the Compensation Committee. Generally, upon exercise, an SAR entitles a participant to receive (in cash, shares of common stock or a combination thereof) the excess of the fair market value of a share of common stock on the date the SAR was exercised over its exercise price. SARs will expire no later than the tenth anniversary of the date of grant, and the exercise price of an SAR may not be less than the fair market value of a share of our common stock on the date of grant (other than in connection with certain business combination events). Restricted stock.Shares of common stock that are subject to restrictions on transfer or other incidents of ownership as established by the Compensation Committee, including the satisfaction of performance criteria, may be awarded under the Plan. For restricted stock, a “period of restriction” will apply during which time the shares are subject to forfeiture by the participant if, for example, the participant’s employment or service terminates. During a period of restriction, the holder of restricted stock will be entitled to exercise full voting rights unless otherwise provided for in the award agreement. Restricted and performance stock units.RSUs and PSUs are fixed or variable share denominated units subject to such terms and conditions, including periods of restriction, vesting, time of payment and, in the case of PSUs, the satisfaction of performance criteria, as the Compensation Committee may determine. RSUs and PSUs are valued in whole or in part by reference to, or otherwise based on, the fair market value of the Company’s common stock, and may be paid in shares of common stock, cash or a combination of both. Holders of RSUs or PSUs are not entitled to exercise voting rights.

| 2025            
 Proxy Statement | 63 |

Proposal No. 4 PSUs and any other performance awards that may be granted under the Plan represent the right to receive shares of common stock, cash or a combination thereof, contingent on the achievement of performance or other objectives during a specified period as the Compensation Committee may determine. Awards intended to be “performance-based compensation” will be conditioned on the achievement of criteria, measures or goals established by the Compensation Committee. The Compensation Committee has the sole discretion to adjust the determinations of the value and degree of attainment of the performance goals including the discretion to reduce the amount of an award that would otherwise vest or be paid based on the achievement of the performance goals. The Compensation Committee also retains the sole discretion