Company: TRTN-PA
Filing Date: 2025-02-28
Form Type: 20-F
Source: 0001660734-25-000004
Chunk: 55

Company: Triton International Ltd
Filing Date: 2025-02-28
Form: 20-F
Item: Item 6
Chunk 55
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 Management Transition" above in Item 6. A, "Directors, Senior Management and Employees".

The aggregate compensation that we paid to our executive officers as a group for the year ended December 31, 2024 was approximately $39.0 million, which included approximately (i) $3.0 million in base salaries for 2024, (ii) $3.4 million in annual

bonuses paid in February 2025, earned for services performed in 2024; (iii) $32.5 million, representing the value of contingent cash awards in respect of restricted share awards that were outstanding immediately prior to the Merger that vested in 2024, including accrued dividends; and (iv) $100,000 to provide for retirement savings plan benefits and other payments, including Company paid car allowances, Company paid life insurance premiums for coverage exceeding $50,000, Company paid HSA contributions, Company matching gift donations and club membership fees. We do not offer a defined benefit pension plan to our executive officers.

Annual Incentive Program

Our annual cash-based incentive program is designed to incentivize our executive officers to achieve annual financial and strategic priorities. The Compensation Committee establishes the target incentive compensation amounts and incentive compensation ranges annually. For 2024, performance criteria under the annual incentive plan were based on both our 2024 consolidated financial performance and on individual performance. Actual payouts under the Company financial performance and individual performance elements of the plan may range from 0% to 200% based on actual performance compared to target goals, and the Compensation Committee may also use a subjective assessment of the perceived strength and contributions of each of the executive officers to increase or decrease the calculated payout levels. In February 2025, an aggregate of approximately $3.4 million in annual incentive bonuses was paid to the executive officers based on the achievement of the 2024 performance goals.

Long-Term Cash Incentive Plan

In 2024, we adopted a Long-Term Cash Incentive Plan under which eligible employees and consultants of the Company, including the executive officers, may receive long-term cash incentive awards (the "Cash Incentive Plan"). Payout of awards granted under the Cash Incentive Plan may be based on the value of the Company over the vesting period of the awards or may have such other terms as the Compensation Committee may determine.

In 2024, the Compensation Committee approved long-term target incentive awards to our executive officers with an aggregate target opportunity to the group of approximately $5.8 million