Company: PRMB
Filing Date: 2025-03-20
Form Type: DEF 14A
Source: 0001140361-25-009675
Chunk: 100

Company: Primo Brands Corp
Filing Date: 2025-03-20
Form: DEF 14A
Chunk 100
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 Plan that had not vested as of December 31, 2024, (iii) time-based restricted share units granted to our NEOs in December 2024 under the Primo Brands Equity Plan, (iv) performance-based restricted share units granted in December 2022 and 2023 under the Legacy 2018 Plan that had not vested as of December 31, 2024, which were converted to time-based restricted share units in connection with the closing of the Transaction that will vest at the end of the original award’s performance period, and (v) performance-based restricted share units granted in December 2024 under the Primo Brands Equity Plan. Because the performance period for the performance-based restricted share units granted to our NEOs in December 2024 has not yet been completed, the number of common shares issuable pursuant to performance-based restricted share units that such NEOs would have been entitled to on December 31, 2024 cannot be determined. As a result, this column includes the value of such performance-based restricted share units, assuming achievement of the performance goals at “target” and a share value equal to the closing price of our common shares on the NYSE as of December 31, 2024 ($30.77). |

These amounts are included in the applicable “Equity Awards” column in the tables under the heading “ —Payments under the Severance Plan” on page 65of this proxy statement. Triton Water Parent Holdings, LP Class B Units BlueTriton has historically granted profits interests to BlueTriton’s executives, including Mr. Austin and Ms. Kim, in TWP Holdings. In connection with an “Exit Transaction,” all unvested Class B units granted to Mr. Austin and Ms. Kim would vest, subject to their continued service with the Company through the effective date of the Exit Transaction and Mr. Austin and Ms. Kim would be entitled to the following:

| Class B Units in TWP Holdings |     | Accelerated 
     Vesting 
      ($)(1) |
| Robert Austin                 |     |   8,337,622 |
| Hih Song Kim                  |     |   3,601,133 |

Notes:

| (1) | Amount reflects the assumed accelerated vesting of all unvested Class B units in TWP Holdings granted to Mr. Austin and Ms. Kim based on an assumed value per Class B unit in TWP Holdings as of December 31, 2024 of $5,399 with such amount