Vistance Networks, Inc.
For the period ended Mar 21, 2025. Filed Mar 24, 2025.
View on SEC.govAbout this filing
What shareholders are asked to vote on at a company's meeting. It is where to find what directors and top executives are paid, and who owns the most shares.
Mar 21, 2025 · Filed Mar 24, 2025
Contents
Outcomes of Previously Granted Performance-Based Long-Term Incentives
Executive Performance Retention Grant (EPRG)
During 2024, NEOs were eligible to earn shares tied to the achievement of stock price goals between $25 and $40. EPRG shares remained outstanding through the end of the applicable performance period, which was October 1, 2024 for Messrs. Treadway, Choi and Firouzbakht and January 4, 2025 for Mr. Lorentzen. None of the price hurdles were achieved during 2024.
| Name | EPRG Shares Eligible tobe Earned as 1/1/24 | EPRG Shares EarnedDuring 2024 |
|---|---|---|
| Charles L. Treadway | 770,000 | — |
| Kyle D. Lorentzen | 86,660 | — |
| Justin C. Choi | 52,920 | — |
| Farid Firouzbakht | 60,739 | — |
| Koen ter Linde | Did not participate | Did not participate |
2025 Proxy Statement 51
2022 Core Adjusted EBITDA PSUs
Following the modification of the 2022 Core Adjusted EBITDA PSUs in February 2024, which is described in greater detail above, NEOs were eligible to earn the target number of PSUs based on the achievement of cumulative Core Adjusted EBITDA of $3.605B for the performance period. In addition, NEOs were eligible to earn 35% of target for threshold achievement of cumulative Adjusted EBITDA of $3.136B. Based on our actual cumulative Core Adjusted EBITDA for 2022 through 2024, the Compensation Committee approved a payout to each NEO equal to 69.7% of their respective target PSUs for the performance period. Core Adjusted EBITDA for 2024 includes the OWN segment and DAS business unit.
| Name | Target Adj. EBITDAPSUs | Earned Adj. EBITDAPSUs |
|---|---|---|
| Charles L. Treadway | 235,000 | 163,795 |
| Kyle D. Lorentzen | 88,280 | 61,532 |
| Justin C. Choi | 51,100 | 35,617 |
| Farid Firouzbakht | 30,000 | 20,910 |
| Koen ter Linde | 13,800 | 9,619 |
2022 TSR PSUs
For a 3-year performance period ending February 28, 2025, NEOs were eligible to earn shares based on our level of total shareholder return relative to the companies included in the S&P 500 benchmark. Our relative TSR fell below the threshold and all of these relative TSR PSUs were forfeited.
| Name | Target RelativeTRS PSUs | Earned RelativeTSR PSUs |
|---|---|---|
| Charles L. Treadway | 156,700 | — |
| Kyle D. Lorentzen | 58,920 | — |
| Justin C. Choi | 34,100 | — |
| Farid Firouzbakht | 20,000 | — |
| Koen ter Linde | Did not participate | Did not participate |
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.