Company: CRCT
Filing Date: 2025-04-01
Form Type: PRE 14A
Source: 0001828962-25-000058
Chunk: 41

Company: Cricut, Inc.
Filing Date: 2025-04-01
Form: PRE 14A
Chunk 41
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 and (v) approximately -20% of Project Materials Cost Reduction (200% of target).

Based on these results, our named executive officers received the following payouts for 2024. For Mr. Arora, this amount listed below includes payouts under both of his bonus opportunities under the 2024 bonus plan:

| Named Executive Officer |     |    Bonus |
| Ashish Arora            |     | $853,878 |
| Kimball Shill           |     | $191,331 |
| Donald B. Olsen         |     | $109,731 |

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#### Equity Compensation
We provide equity awards to our executive officers to incentivize and reward strong long-term corporate performance and to align their interests with those of our stockholders. As we discussed in last year’s CD&A, we expect to continuously review and assess our executive equity compensation program in order to incentivize and motivate our executives to achieve our business objectives and to provide compensation that strengthens the alignment between their interests and those of our stockholders.

2024 Annual Equity Awards

In June 2024, we granted our named executive officers awards of RSUs. The 2024 annual equity awards were provided in the form of RSUs because we believe that full value awards, such as RSUs, better align the interest of executives with stockholders. RSUs never become underwater regardless of any future fluctuation in the market price of our Class A common stock, which means that, in the event of a decline in the market price, our named executive officers would continue to be incentivized to create stockholder value and the awards would continue to promote retention (since our named executive officers would still receive value from these awards).

The number of RSUs covered by these awards were: (i) 1,000,000 RSUs for Mr. Arora, (ii) 180,000 RSUs for Mr. Shill, and (iii) 115,000 RSUs for Mr. Olsen. The number of RSUs granted was determined by our compensation committee after taking into consideration the factors described in the section above titled “Our Compensation-Setting Process,” including the compensation committee’s assessment of the market for public and private companies and our named executive officers’ past and expected future contributions.

Each RSU award vests in four equal annual installments beginning on May 15, 2025, subject to the applicable named executive officer’s continued service with us.

In connection with the special cash dividends we paid in 2024, pursuant to