Company: CIO
Filing Date: 2025-03-12
Form Type: DEF 14A
Source: 0001193125-25-052437
Chunk: 74

Company: City Office REIT, Inc.
Filing Date: 2025-03-12
Form: DEF 14A
Chunk 74
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 —   |     |                      |       — |
| Total(3)                                                   |     |                      | 1,294,927 |       |     |                      |     |     |                      | 638,701 |

| (1) | Represents restricted stock units issued under our EIP. |

| (2) | In May 2024, the Company entered into the Acknowledgment Agreements with each of James Farrar and Gregory Tylee, clarifying that to the extent that future vesting of restricted stock units, performance RSUs and dividend equivalency rights could otherwise be inconsistent with the Annual Limitation, the number of shares issuable pursuant to such vesting shall not exceed the Annual Limitation. Pursuant to the terms of the Acknowledgement Agreements, to the extent any grant would exceed the Annual Limitation, (i) first, all dividend equivalency rights shall be issued and paid in cash the Cash DERs Payment, (ii) then, to the extent that any grants exceed the Annual Limitation after giving effect to the Cash DERs Payment, such grants shall be adjusted in accordance with the Company’s Equity Incentive Plan so that the maximum number of shares that may underlie grants in any one year to any grantee shall not exceed the Annual Limitation as specified in Section 6 of the Plan, or such other limit, if any, as specified in the Company’s Equity Incentive Plan. |

| (3) | All equity-based compensation plans have been approved by our stockholders. |

49

PROPOSAL NO. 3. ADVISORY VOTE ON EXECUTIVE COMPENSATION Pay that reflects performance and alignment of pay with the long-term interests of our stockholders are key principles that underlie our compensation program. In accordance with the Dodd-Frank Act, stockholders have the opportunity to vote, on an advisory basis, on the compensation of our NEOs. This is often referred to as “say-on-pay.”At our 2020 Annual Meeting, we asked our stockholders to approve, on an advisory basis, the frequency of future advisory votes on executive compensation every “one year,” or the “say-on-frequency”vote. Our stockholders approved holding an advisory vote on executive compensation every “one year,” with approximately 85% of the votes cast voting in favor of an advisory vote on executive compensation every “one year.” After considering the nonbinding results for the vote on frequency of future advisory votes on executive compensation, the Board of Directors determined to