Company: CDLX
Filing Date: 2025-04-03
Form Type: DEF 14A
Source: 0001666071-25-000046
Chunk: 66

Company: Cardlytics, Inc.
Filing Date: 2025-04-03
Form: DEF 14A
Chunk 66
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Prior to 2023, we granted RSU awards with time-based vesting requirements and PSU awards tied to pre-established performance goals, both of which are settled in shares of our common stock to retain, motivate, and reward our Named Executive Officers, and encourage them to drive long-term increases in the value of our common stock. We believe RSU awards are an effective tool for incentivizing and retaining our Named Executive Officers because their value rises with any increase in our stock price, and thus RSUs help align executive and stockholder interests over the long term.

We believe PSUs are also a powerful incentive to drive financial performance, providing a clear link between executive compensation and stockholder return. These awards align executive focus with both our annual and long-term strategic and financial goals.

The Compensation Committee does not apply a rigid formula in determining the size and form of the equity awards to be granted to our Named Executive Officers as part of our annual focal review of equity awards. Instead, in making these decisions, the Compensation Committee has exercised its judgment as to the amount and form of the awards after considering the factors described in " Governance of Executive Compensation Program – Compensation-Setting Process " above. Based upon these factors, the Compensation Committee has determined the size of each award at levels it considered appropriate to create a meaningful opportunity for reward predicated on the creation of long-term stockholder value.

In 2024, the Compensation Committee awarded long-term incentive opportunities to our Named Executive Officers exclusively in the form of time-based RSUs. Given the ongoing business transformation, it was challenging to define and set meaningful long-term financial goals, and the priority shifted toward retaining key leadership. The number of shares of our common stock subject to the equity awards granted was determined by the Compensation Committee after taking into consideration a competitive market analysis prepared by its compensation consultant, the recommendations of our Chief Executive Officer, the amount of equity compensation held by each Named Executive Officer (including the current economic value of his or her unvested equity and the ability of these unvested holdings to satisfy our retention objectives) and the other factors described in " Compensation-Setting Process – Setting Target Total Direct Compensation " above.

On March 22, 2024, the Compensation Committee approved the grant of the following number of RSUs to our Named Executive Officers:

| Named Executive Officer |     | RSU Awards granted during 2024 |
| Mr. Temsamani           |     |                        300,000 |
| Mr. Gupta               |     |