Company: BLCO
Filing Date: 2025-04-10
Form Type: DEF 14A
Source: 0001140361-25-013244
Chunk: 46

Company: Bausch & Lomb Corp
Filing Date: 2025-04-10
Form: DEF 14A
Chunk 46
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75th percentile but below the 90th percentile |     | 130%     |
| At or above the 90th percentile                               |     | 150%     |

In the event that the Company’s absolute TSR during such period is negative, then the maximum payout of the PSU award will be capped at 50%. Any PSUs that are earned will vest on February 28, 2027, subject generally to the executive’s continued employment through such date, except in limited circumstances as set forth in the applicable award agreement. Please see the Equity Award Amendments section below for additional details regarding how PSUs with relative total shareholder return metrics will be treated in case BHC's spin-off distribution of Bausch + Lomb Common Shares does not occur by certain dates. Equity Award Amendments As previously disclosed on Form 10-Q of the Company for the quarter ended June 30, 2024, on July 31, 2024, the Talent and Compensation Committee approved two equity award amendments. Given the current BHC ownership structure, these changes were approved to provide recipients of these awards with clarification regarding how the IPO Founder Grant and PSUs with relative total shareholder return (“rTSR”) metrics will ultimately be treated in case BHC’s spin-off distribution of Bausch + Lomb Common Shares (the “Distribution Date”) does not occur by certain dates, as described below. The Talent and Compensation Committee believes that by approving these clarifying amendments, these awards, which were intended to reward executives for their contributions to the Company’s performance over time, can continue to deliver this intended value timely, regardless of when the Distribution Date occurs, which is driven by a number of factors outside of our NEOs’ control. Equity awards originally granted to certain employees (including Mr. Eldessouky and Dr. Hashad) in connection with our initial public offering in May 2022 originally included vesting conditions requiring the Distribution Date to occur before such IPO Founder Grants would vest and become exercisable. Given the Distribution Date has not yet occurred, and time-based vesting conditions have begun to be satisfied, these IPO Founder Grants have not been able to vest and become exercisable as originally scheduled. Therefore, the Talent and Compensation Committee approved, with respect to IPO Founder Grants held by current employees of Bausch + Lomb or one of its subsidiaries, that in the event that the Distribution Date does not occur on or before May 5, 2026 (four years from the original grant date), the existing vesting condition requiring the Distribution Date to occur