Company: TENB
Filing Date: 2025-04-03
Form Type: DEF 14A
Source: 0001660280-25-000058
Chunk: 56

Company: Tenable Holdings, Inc.
Filing Date: 2025-04-03
Form: DEF 14A
Chunk 56
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 | 374,938 |     |                                  |  87.5 | % |
| Mr. Thurmond            |     |                                    | 374,938 |     |                                  |  87.5 | % |

Consistent with the prior year, for 2024, our Board of Directors established anticipated target goals for each performance metric used in our annual operating plan, with actual bonus payments at

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each periodic payment interval calculated by multiplying 20% of a participant’s target cash bonus opportunity by the weighted average percentage attainment level of the applicable goals for each applicable quarter or full year. No payments are made if attainment is below 75% and the maximum payment is capped at 200% of the target amount. Accordingly, for 2024, the target performance goals for our Named Executive Officers were as follows, each of which exceeds prior year actual performance:

| Performance Metric                    |     | Target Performance Level 
        (in thousands)(1) |           |     | Weighting |       |   |
|:--------------------------------------|:----|-------------------------:|----------:|:----|:----------|------:|:--|
| Revenue + Unlevered Free Cash Flow(2) |     |                        $ | 1,155,226 |     |           | 66.67 | % |
| Bookings                              |     |                       -3 |           |     |           | 33.33 | % |

_____________

(1) The target performance level for each performance metric was adjusted to include the expected impact of Eureka from June 6, 2024 (date of acquisition) through the end of the year as approved by our Board of Directors.

(2) Unlevered Free Cash Flow is a non-GAAP measure. Refer to the Appendix for reconciliations of non-GAAP measures to comparable GAAP measures.

(3) We have chosen not to disclose the target performance level for our bookings performance measure as such information is proprietary in nature, the disclosure of which could result in competitive harm to the Company. For 2024, the Board of Directors considered the target performance achievement levels for the bookings performance measure to be challenging, but achievable with significant effort requiring circumstances to align as projected. The bookings target goal reflected a 14.9% increase over our actual bookings results from 2023.

For this purpose, each of the above metrics is defined as follows:

• Revenue - to be calculated in accordance with GAAP and as set forth