Company: FOX
Filing Date: 2025-09-25
Form Type: DEF 14A
Source: 0001628280-25-042772
Chunk: 47

Company: Fox Corp
Filing Date: 2025-09-25
Form: DEF 14A
Chunk 47
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led stock performance measures to strengthen the alignment of interests between the named executive officers and our stockholders.

Company financial performance is measured through EPS and FCF. The Compensation Committee selected these metrics because it believes they support the Company’s long-term creation of stockholder value. EPS is one of the primary measures used by FOX’s investors and analysts to assess FOX’s and our management’s performance, and FCF gives a clear view of the Company’s ability to generate cash that can be used for investments in the business, returns to stockholders and other actions that enhance stockholder value. The Company adjusts EPS and FCF to ensure that the measurement of performance reflects factors that management can directly control and is not artificially inflated or diminished by factors unrelated to the ongoing operation of the business. This is intended to ensure that our named executive officers neither benefit from nor are penalized for unexpected or uncontrollable events or strategic decisions that are in the long-term interest of stockholders, but may have a negative or neutral effect on our named executive officers’ compensation and thus might drive decision-making that is not aligned with our stockholders’ interests.

For the fiscal 2025-2027 performance period, in August 2024 each of our named executive officers received long-term equity-based incentive awards in the following aggregate target amount:

| Named Executive Officer |     | Fiscal 2025-2027 Target Long-Term 
 Incentive Award Opportunity       |
| Lachlan K. Murdoch      |     | 367% of Base Salary               |
| John P. Nallen(a)       |     | 250% of Base Salary               |
| Steven Tomsic           |     | 171% of Base Salary               |
| Adam Ciongoli           |     | 171% of Base Salary               |

(a) Pursuant to his amended employment agreement, beginning July 1, 2025, Mr. Nallen is entitled to receive long-term equity-based incentive awards in an aggregate target amount equal to $6,500,000. For additional information on this arrangement, please see the section titled “Employment Arrangements” in “Executive Compensation” below.

The grant date for the fiscal 2025 long-term equity-based incentive awards, as approved by the Compensation Committee, was more than one full trading day following each of (i) the Company’s announcement of earnings for the previously completed quarter, and (ii) the filing of its Form 10-K for the fiscal year ended June 30, 2024, with the exercise price of stock