Company: STGW
Filing Date: 2025-04-25
Form Type: DEF 14A
Source: 0001104659-25-039437
Chunk: 44

Company: Stagwell Inc
Filing Date: 2025-04-25
Form: DEF 14A
Chunk 44
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 two increments, with one-third vested on November 17, 2024 and two-thirds vesting on November 17, 2025. Similarly, with respect to 2022, instead of paying annual cash bonuses, the Human Resources and Compensation Committee determined that it was in the best interests of the Company to compensate the NEOs in the form of additional equity incentives and, on February 23, 2023, awarded restricted shares in the following amounts: Mr. Penn — 177,951; Mr. Leveton — 90,843; Mr. Lanuto — 72,493; Mr. Greene — 65,816; and Mr. DiMaggio — 34,339. These shares of restricted stock vested on February 23, 2024. CEO SAR Grant In recognition of his services to the Company, on March 1, 2023, the Human Resources and Compensation Committee awarded Mr. Penn a grant of 225,000 SARs under the Company’s 2016 Stock Incentive Plan, which will vest and become exercisable in equal installments (each consisting of 75,000 underlying shares) on each of the first three anniversaries of the grant date and which will expire on the fifth anniversary of the grant date. LTIP Awards 2024 Stock LTIP. On March 8, 2024, the Human Resources and Compensation Committee awarded each NEO performance-based vesting restricted stock units under the Company’s 2016 Stock Incentive Plan in the following amounts: Mr. Penn — 810,066; Mr. Leveton — 183,688; Mr. Lanuto — 172,207; Mr. Greene — 63,372; and Mr. DiMaggio — 28,930 (the “2024 Stock LTIP Awards”). Vesting for these awards is conditioned upon the Company’s level of achievement of Adjusted EBITDA, excluding the effect of acquisitions with annual revenue more than $100 million and including gains and losses on dispositions, over the performance period commencing on January 1, 2024 and ending on December 31, 2026 and the NEO’s continued employment until March 8, 2027. The cumulative Adjusted EBITDA target for the 2024 Stock LTIP is $1.325 billion. 2023 Stock LTIP. On February 23, 2023, the Human Resources and Compensation Committee awarded each NEO performance-based vesting restricted shares under the Company’s