Company: QLYS
Filing Date: 2025-04-11
Form Type: PRE 14A
Source: 0001140361-25-013472
Chunk: 59

Company: QUALYS, INC.
Filing Date: 2025-04-11
Form: PRE 14A
Chunk 59
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ifying the achievement of the revenue growth and adjusted EBITDA margin goals: (i) 15,178 for Mr. Thakar, (ii) 3,923 for Ms. Kim, and (iii) 2,242 for Mr. Posey. The remaining PRSUs that became eligible to vest are scheduled to vest on the date that performance is certified for the third tranche, subject to the applicable named executive officer’s continued service with us through that date. PRSU Awards Approved in October 2023 In October 2023, our board of directors approved the intended value of the PRSU awards to our named executive officers. Each named executive officer’s PRSU award was divided into three tranches with one-year performance periods covering the calendar years 2024, 2025, and 2026, respectively. One-third of the target number of PRSUs was allocated to each tranche. Each tranche was and is to become eligible to vest based on the annual growth rate of the Company’s revenues and the

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Company’s adjusted EBITDA margin for the applicable performance period. The first tranche of these PRSU awards were not considered granted under FASB ASC Topic 718 until the performance goals for the 2024 performance period was approved by our board of directors in February 2024. As a result of the Company achieving revenue growth of 10% and adjusted EBITDA margin of 47% in 2024, the following number of PRSUs became eligible to vest for the first tranche of each named executive officer’s PRSUs (which represents 103% of each named executive officer’s target number of PRSUs for that tranche): (i) 15,584 for Mr. Thakar, (ii) 3,754 for Ms. Kim, and (iii) 2,239 for Mr. Posey. Of these PRSUs, the following number vested immediately upon our board of directors certifying the achievement of the revenue growth and adjusted EBITDA margin goals: (i) 15,183 for Mr. Thakar, (ii) 3,657 for Ms. Kim, and (iii) 2,181 for Mr. Posey. The remaining PRSUs that became eligible to vest are scheduled to vest on the date that performance is certified for the third tranche, subject to the applicable named executive officer’s continued service with us through that date. Retirement and Other Benefits Our named executive