LTI
Equity is awarded starting at this level
C04
STI is defined as
Short-term incentive
Executives at Chewy are defined as
C08/ Director +
Month when annual grants are awarded
April
The fiscal year is defined as
February through January
Chewy CTO
Satish Mehta
A new hire joining in May 2023 will receive a new hire award that will begin vesting in this month
May 2024
Maximum payout percentage
2x of target
75% RSUs and 25% PRSUs
The percentage of an annual or new hire award that vests at the one-year mark
25%
The calculation for deriving payout
The weighting of RSUs and PRSUs for the C-Suite
50% RSUs & 50% PRSUs
The number of days used to derive the grant price
Average closing price 20 days prior to grant
Financial metrics used to calculate values
Adjusted EBITDA (earnings before interest, taxes, depreciation and amortization) & Net Sales
Additional performance measure for measuring performance for C-Suite PRSUs
Free Cash Flow