TUCOWS INC /PA/
For the period ended Jun 20, 2024. Filed May 10, 2024.
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Jun 20, 2024 · Filed May 10, 2024
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Contents
Incentive Bonus program
The table below summarizes the 2023 and 2024 incentive bonus opportunities for our NEOs.
| 2024 · 2023 | ||||
|---|---|---|---|---|
| Named Officer | Target incentive Bonus Opportunity (1) | Basis for Target incentive Bonus for 2024 | Target incentive Bonus Opportunity (1) | Basis for Target incentive Bonus for 2023 |
| Elliot Noss | $490,686 | 50% Ting targets, 20% Wavelo targets and 30% Tucows Domains targets | $362,859 | 50% Ting targets, 30% Wavelo targets and 20% Tucows Domains targets |
| Davinder Singh | $181,176 | 50% Ting targets, 25% Wavelo targets and 25% Tucows Domains targets | $153,277 | 50% Ting targets, 15% Wavelo targets and 35% Tucows Domains targets |
| Justin Reilly | $355,104 | 100% Wavelo targets | $347,343 | 100% Wavelo targets |
| David Woroch | $181,176 | 100% Domain Services targets | $157,064 | 100% Domain Services targets |
| Bret Fausett | $210,000 | 50% Ting targets, 25% Wavelo targets and 25% Tucows Domains targets | $158,828 | 50% Ting targets, 15% Wavelo targets and 35% Tucows Domains targets |
| (1) | All dollar amounts below are shown U.S. dollars. Amounts payable in Canadian dollars for 2023 have been converted into U.S. dollars based upon the exchange rate of 1.3500 Canadian dollars for each U.S. dollar, the average OANDA exchange rate for 2023 as at December 31, 2023. Amounts payable in Canadian dollars during the 2023 fiscal year have been converted into U.S. dollars based upon the exchange rate of 1.338 Canadian dollars for each U.S. dollar, which represents the year-end exchange rate as at December 31, 2023 |
Our Corporate Governance, Nominating and Compensation Committee met in March 2024 and determined the achievement of the financial objectives applicable under the management incentive compensation plan for 2023 had been partially achieved.
In connection with the Corporate Governance, Nominating and Compensation Committee’s annual review process, the Committee also approved a new set of performance goals under our management incentive compensation plan for Fiscal 2024 and decided not to increase the incentive bonus target opportunity for our NEOs.
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