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DEF 14A
CAVA GROUP, INC.
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The People, Culture and Compensation Committee does not schedule equity award grant dates in anticipation of the release of material non-public information, and the Company does not have any plans, programs, or practices of timing the release of material non-public information in order to affect the value of executive compensation. The exercise price of stock options is set at the closing price of the Company’s common stock on the NYSE on the date of the grant.
The People, Culture and Compensation Committee does not schedule equity award grant dates in anticipation of the release of material non-public information, and the Company does not have any plans, programs, or practices of timing the release of material non-public information in order to affect the value of executive compensation. The exercise price of stock options is set at the closing price of the Company’s common stock on the NYSE on the date of the grant.
The People, Culture and Compensation Committee does not schedule equity award grant dates in anticipation of the release of material non-public information, and the Company does not have any plans, programs, or practices of timing the release of material non-public information in order to affect the value of executive compensation.
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<div style="margin-bottom:6pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:5.940%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.963%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.825%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.825%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.825%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:9.675%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.825%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.394%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.106%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.522%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="background-color:#f9d000;padding:0 1pt"></td><td colspan="3" style="background-color:#f9d000;padding:0 1pt"></td><td colspan="3" style="background-color:#f9d000;padding:0 1pt"></td><td colspan="3" style="background-color:#f9d000;padding:0 1pt"></td><td colspan="3" style="background-color:#f9d000;padding:0 1pt"></td><td colspan="6" style="background-color:#f9d000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center"><span style="color:#000000;font-family:'Lato',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Value of Initial Fixed $100 Investment Based on: </span></div></td><td colspan="3" style="background-color:#f9d000;padding:0 1pt"></td><td colspan="3" style="background-color:#f9d000;padding:0 1pt"></td><td colspan="3" style="background-color:#f9d000;padding:0 1pt"></td></tr><tr style="height:3pt"><td colspan="3" style="background-color:#f9d000;padding:0 1pt"></td><td colspan="3" style="background-color:#f9d000;padding:0 1pt"></td><td colspan="3" style="background-color:#f9d000;padding:0 1pt"></td><td colspan="3" style="background-color:#f9d000;padding:0 1pt"></td><td colspan="3" style="background-color:#f9d000;padding:0 1pt"></td><td colspan="3" style="background-color:#f9d000;padding:0 1pt"></td><td colspan="3" style="background-color:#f9d000;padding:0 1pt"></td><td colspan="3" style="background-color:#f9d000;padding:0 1pt"></td><td colspan="3" style="background-color:#f9d000;padding:0 1pt"></td><td colspan="3" style="background-color:#f9d000;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#f9d000;padding:2px 1pt 2px 5.5pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:3pt;padding-left:4.5pt"><span style="color:#000000;font-family:'Lato',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Year</span></div></td><td colspan="3" style="background-color:#f9d000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><span style="color:#000000;font-family:'Lato',sans-serif;font-size:8pt;font-weight:700;line-height:120%">(1) </span></div><div style="text-align:right"><span style="color:#000000;font-family:'Lato',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Summary Compensation Table Total for PEO</span></div><div style="text-align:right"><span style="color:#000000;font-family:'Lato',sans-serif;font-size:8pt;font-weight:700;line-height:120%">($)</span></div></td><td colspan="3" style="background-color:#f9d000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><span style="color:#000000;font-family:'Lato',sans-serif;font-size:8pt;font-weight:700;line-height:120%">(2)</span></div><div style="text-align:right"><span style="color:#000000;font-family:'Lato',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Compensation Actually Paid to PEO</span></div><div style="text-align:right"><span style="color:#000000;font-family:'Lato',sans-serif;font-size:8pt;font-weight:700;line-height:120%">($)</span></div></td><td colspan="3" style="background-color:#f9d000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><span style="color:#000000;font-family:'Lato',sans-serif;font-size:8pt;font-weight:700;line-height:120%">(3)</span></div><div style="text-align:right"><span style="color:#000000;font-family:'Lato',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Average Summary Compensation Table Total for Non-PEO NEOs</span></div><div style="text-align:right"><span style="color:#000000;font-family:'Lato',sans-serif;font-size:8pt;font-weight:700;line-height:120%">($)</span></div></td><td colspan="3" style="background-color:#f9d000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><span style="color:#000000;font-family:'Lato',sans-serif;font-size:8pt;font-weight:700;line-height:120%">(4)</span></div><div style="text-align:right"><span style="color:#000000;font-family:'Lato',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Average Compensation Actually Paid to Non-PEO NEOs</span></div><div style="text-align:right"><span style="color:#000000;font-family:'Lato',sans-serif;font-size:8pt;font-weight:700;line-height:120%">($)</span></div></td><td colspan="3" style="background-color:#f9d000;border-top:0.5pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><span style="color:#000000;font-family:'Lato',sans-serif;font-size:8pt;font-weight:700;line-height:120%">(5)</span></div><div style="text-align:right"><span style="color:#000000;font-family:'Lato',sans-serif;font-size:8pt;font-weight:700;line-height:120%">CAVA Total Shareholder Return</span></div><div style="text-align:right"><span style="color:#000000;font-family:'Lato',sans-serif;font-size:8pt;font-weight:700;line-height:120%">($)</span></div></td><td colspan="3" style="background-color:#f9d000;border-top:0.5pt solid #000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><span style="color:#000000;font-family:'Lato',sans-serif;font-size:8pt;font-weight:700;line-height:120%">(6)</span></div><div style="text-align:right"><span style="color:#000000;font-family:'Lato',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Peer Group Total Shareholder Return</span></div><div style="text-align:right"><span style="color:#000000;font-family:'Lato',sans-serif;font-size:8pt;font-weight:700;line-height:120%">($)</span></div></td><td colspan="3" style="background-color:#f9d000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><span style="color:#000000;font-family:'Lato',sans-serif;font-size:8pt;font-weight:700;line-height:120%">(7)</span></div><div style="text-align:right"><span style="color:#000000;font-family:'Lato',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Net income</span></div><div style="text-align:right"><span style="color:#000000;font-family:'Lato',sans-serif;font-size:8pt;font-weight:700;line-height:120%">($)</span></div></td><td colspan="3" style="background-color:#f9d000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><span style="color:#000000;font-family:'Lato',sans-serif;font-size:8pt;font-weight:700;line-height:120%">(8)</span></div><div style="text-align:right"><span style="color:#000000;font-family:'Lato',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Company Selected Measure: Adjusted EBITDA</span></div><div style="text-align:right"><span style="color:#000000;font-family:'Lato',sans-serif;font-size:8pt;font-weight:700;line-height:120%">($)</span></div></td><td colspan="3" style="background-color:#f9d000;padding:0 1pt"></td></tr><tr style="height:5pt"><td colspan="3" style="background-color:#f9d000;padding:0 1pt"></td><td colspan="3" style="background-color:#f9d000;padding:0 1pt"></td><td colspan="3" style="background-color:#f9d000;padding:0 1pt"></td><td colspan="3" style="background-color:#f9d000;padding:0 1pt"></td><td colspan="3" style="background-color:#f9d000;padding:0 1pt"></td><td colspan="3" style="background-color:#f9d000;padding:0 1pt"></td><td colspan="3" style="background-color:#f9d000;padding:0 1pt"></td><td colspan="3" style="background-color:#f9d000;padding:0 1pt"></td><td colspan="3" style="background-color:#f9d000;padding:0 1pt"></td><td colspan="3" style="background-color:#f9d000;padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 5.5pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Lato',sans-serif;font-size:8pt;font-weight:400;line-height:120%">2025</span></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Lato',sans-serif;font-size:8pt;font-weight:400;line-height:120%">3,859,478 </span></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Lato',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(40,880,084)</span></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Lato',sans-serif;font-size:8pt;font-weight:400;line-height:120%">1,770,740 </span></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Lato',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(5,483,158)</span></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Lato',sans-serif;font-size:8pt;font-weight:400;line-height:120%">134 </span></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Lato',sans-serif;font-size:8pt;font-weight:400;line-height:120%">110 </span></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Lato',sans-serif;font-size:8pt;font-weight:400;line-height:120%">63,743,000 </span></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Lato',sans-serif;font-size:8pt;font-weight:400;line-height:120%">152,760,000 </span></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="border-top:0.5pt solid #b6b6b6;padding:2px 1pt 2px 5.5pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Lato',sans-serif;font-size:8pt;font-weight:400;line-height:120%">2024</span></td><td colspan="2" style="border-top:0.5pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Lato',sans-serif;font-size:8pt;font-weight:400;line-height:120%">1,924,218 </span></td><td style="border-top:0.5pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="border-top:0.5pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Lato',sans-serif;font-size:8pt;font-weight:400;line-height:120%">80,148,421 </span></td><td style="border-top:0.5pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="border-top:0.5pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Lato',sans-serif;font-size:8pt;font-weight:400;line-height:120%">908,319 </span></td><td style="border-top:0.5pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="border-top:0.5pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Lato',sans-serif;font-size:8pt;font-weight:400;line-height:120%">27,481,496 </span></td><td style="border-top:0.5pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="border-top:0.5pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Lato',sans-serif;font-size:8pt;font-weight:400;line-height:120%">255 </span></td><td style="border-top:0.5pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="border-top:0.5pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Lato',sans-serif;font-size:8pt;font-weight:400;line-height:120%">111 </span></td><td style="border-top:0.5pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="border-top:0.5pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Lato',sans-serif;font-size:8pt;font-weight:400;line-height:120%">130,319,000 </span></td><td style="border-top:0.5pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="border-top:0.5pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Lato',sans-serif;font-size:8pt;font-weight:400;line-height:120%">126,248,000 </span></td><td style="border-top:0.5pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="border-top:0.5pt solid #b6b6b6;padding:0 1pt"></td></tr><tr><td colspan="3" style="border-bottom:1pt solid #f9d000;border-top:0.5pt solid #b6b6b6;padding:2px 1pt 2px 5.5pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Lato',sans-serif;font-size:8pt;font-weight:400;line-height:120%">2023</span></td><td colspan="2" style="border-bottom:1pt solid #f9d000;border-top:0.5pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Lato',sans-serif;font-size:8pt;font-weight:400;line-height:120%">17,060,929 </span></td><td style="border-bottom:1pt solid #f9d000;border-top:0.5pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="border-bottom:1pt solid #f9d000;border-top:0.5pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Lato',sans-serif;font-size:8pt;font-weight:400;line-height:120%">46,526,664 </span></td><td style="border-bottom:1pt solid #f9d000;border-top:0.5pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="border-bottom:1pt solid #f9d000;border-top:0.5pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Lato',sans-serif;font-size:8pt;font-weight:400;line-height:120%">2,781,834 </span></td><td style="border-bottom:1pt solid #f9d000;border-top:0.5pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="border-bottom:1pt solid #f9d000;border-top:0.5pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Lato',sans-serif;font-size:8pt;font-weight:400;line-height:120%">9,929,713 </span></td><td style="border-bottom:1pt solid #f9d000;border-top:0.5pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="border-bottom:1pt solid #f9d000;border-top:0.5pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Lato',sans-serif;font-size:8pt;font-weight:400;line-height:120%">96 </span></td><td style="border-bottom:1pt solid #f9d000;border-top:0.5pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="border-bottom:1pt solid #f9d000;border-top:0.5pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Lato',sans-serif;font-size:8pt;font-weight:400;line-height:120%">105 </span></td><td style="border-bottom:1pt solid #f9d000;border-top:0.5pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="border-bottom:1pt solid #f9d000;border-top:0.5pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Lato',sans-serif;font-size:8pt;font-weight:400;line-height:120%">13,280,000 </span></td><td style="border-bottom:1pt solid #f9d000;border-top:0.5pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="border-bottom:1pt solid #f9d000;border-top:0.5pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Lato',sans-serif;font-size:8pt;font-weight:400;line-height:120%">73,825,000 </span></td><td style="border-bottom:1pt solid #f9d000;border-top:0.5pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="border-bottom:1pt solid #f9d000;border-top:0.5pt solid #b6b6b6;padding:0 1pt"></td></tr></table></div>
3859478
-40880084
1770740
-5483158
134
110
63743000
152760000
1924218
80148421
908319
27481496
255
111
130319000
126248000
17060929
46526664
2781834
9929713
96
105
13280000
73825000
<span style="color:#000000;font-family:'Lato',sans-serif;font-size:8pt;font-weight:400;line-height:150%;padding-left:11.68pt">Reflects compensation amounts reported in the Summary Compensation Table for our principal executive officer (“PEO”), Brett Schulman, our CEO and President, for the respective years shown.</span><span style="color:#000000;font-family:'Lato',sans-serif;font-size:8pt;font-weight:400;line-height:150%;padding-left:11.68pt">For 2025, the following non-PEO NEOs are included in the average amounts: Tricia Tolivar, Jennifer Somers, Theodoros Xenohristos, Kelly Costanza, and Robert Bertram. The following non-PEO NEOs are included in the average amounts for 2024 and 2023: Tricia Tolivar, Jennifer Somers, Theodoros Xenohristos, and Kelly Costanza.</span>
Brett Schulman
<span style="color:#000000;font-family:'Lato',sans-serif;font-size:8pt;font-weight:400;line-height:150%;padding-left:11.68pt">Reflects the respective amounts set forth in column (1) of the table above, adjusted as set forth in the table below, as determined in accordance with SEC rules and computed in accordance with the methodology used for financial reporting purposes. The dollar amounts reflected in column (2) of the table above do not reflect the actual amount of compensation earned, realized, or received by the CEO during the applicable year. Decreases in stock price may result in negative dollar amounts. For information regarding the decisions made by our People, Culture, and Compensation Committee regarding the CEO’s compensation for each fiscal year, see “Compensation Discussion and Analysis” and the tables and narrative explanations reporting pay for the fiscal years covered in the table above.</span><div style="margin-bottom:6pt;padding-left:18pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:96.551%"><tr><td style="width:1.0%"></td><td style="width:5.298%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.507%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.441%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.888%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.590%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.144%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.888%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:11.400%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.844%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="background-color:#f9d000;padding:2px 1pt 2px 5.5pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:3pt;padding-left:4.5pt"><span style="color:#000000;font-family:'Lato',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Year</span></div></td><td colspan="3" style="background-color:#f9d000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><span style="color:#000000;font-family:'Lato',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Summary Compensation Table Total for PEO</span></div><div style="text-align:right"><span style="color:#000000;font-family:'Lato',sans-serif;font-size:8pt;font-weight:700;line-height:120%">($)</span></div></td><td colspan="3" style="background-color:#f9d000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><span style="color:#000000;font-family:'Lato',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Less: Summary Compensation Table Total Equity (Stock Awards + Option Awards) for PEO</span></div><div style="text-align:right"><span style="color:#000000;font-family:'Lato',sans-serif;font-size:8pt;font-weight:700;line-height:120%">($)</span></div></td><td colspan="3" style="background-color:#f9d000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><span style="color:#000000;font-family:'Lato',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Plus: Fair Value as of Fiscal Year-End of Stock and Option Awards Granted in Covered Year for PEO</span></div><div style="text-align:right"><span style="color:#000000;font-family:'Lato',sans-serif;font-size:8pt;font-weight:700;line-height:120%">($)</span></div></td><td colspan="3" style="background-color:#f9d000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><span style="color:#000000;font-family:'Lato',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Plus: Change in Fair Value of Outstanding Unvested Stock and Option Awards from Prior Years for PEO</span></div><div style="text-align:right"><span style="color:#000000;font-family:'Lato',sans-serif;font-size:8pt;font-weight:700;line-height:120%">($)</span></div></td><td colspan="3" style="background-color:#f9d000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><span style="color:#000000;font-family:'Lato',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Plus: Change in Fair Value of Stock and Option Awards that Vested in the Covered Year for PEO</span></div><div style="text-align:right"><span style="color:#000000;font-family:'Lato',sans-serif;font-size:8pt;font-weight:700;line-height:120%">($)</span></div></td><td colspan="3" style="background-color:#f9d000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><span style="color:#000000;font-family:'Lato',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Less: Fair Value at Prior Fiscal Year-End of Stock and Option and Option Awards Forfeited during the Covered Year for PEO</span></div><div style="text-align:right"><span style="color:#000000;font-family:'Lato',sans-serif;font-size:8pt;font-weight:700;line-height:120%">($)</span></div></td><td colspan="3" style="background-color:#f9d000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><span style="color:#000000;font-family:'Lato',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Compensation Actually Paid to PEO</span></div><div style="text-align:right"><span style="color:#000000;font-family:'Lato',sans-serif;font-size:8pt;font-weight:700;line-height:120%">($)</span></div></td><td colspan="3" style="background-color:#f9d000;padding:0 1pt"></td></tr><tr style="height:5pt"><td colspan="3" style="background-color:#f9d000;padding:0 1pt"></td><td colspan="3" style="background-color:#f9d000;padding:0 1pt"></td><td colspan="3" style="background-color:#f9d000;padding:0 1pt"></td><td colspan="3" style="background-color:#f9d000;padding:0 1pt"></td><td colspan="3" style="background-color:#f9d000;padding:0 1pt"></td><td colspan="3" style="background-color:#f9d000;padding:0 1pt"></td><td colspan="3" style="background-color:#f9d000;padding:0 1pt"></td><td colspan="3" style="background-color:#f9d000;padding:0 1pt"></td><td colspan="3" style="background-color:#f9d000;padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 5.5pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Lato',sans-serif;font-size:8pt;font-weight:400;line-height:120%">2025</span></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Lato',sans-serif;font-size:8pt;font-weight:400;line-height:120%">3,859,478 </span></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Lato',sans-serif;font-size:8pt;font-weight:400;line-height:120%">1,999,946 </span></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Lato',sans-serif;font-size:8pt;font-weight:400;line-height:120%">1,187,042 </span></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Lato',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(36,817,175)</span></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Lato',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(7,109,483)</span></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Lato',sans-serif;font-size:8pt;font-weight:400;line-height:120%">— </span></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Lato',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(40,880,084)</span></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="border-top:0.5pt solid #b6b6b6;padding:2px 1pt 2px 5.5pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Lato',sans-serif;font-size:8pt;font-weight:400;line-height:120%">2024</span></td><td colspan="2" style="border-top:0.5pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Lato',sans-serif;font-size:8pt;font-weight:400;line-height:120%">1,924,218 </span></td><td style="border-top:0.5pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="border-top:0.5pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Lato',sans-serif;font-size:8pt;font-weight:400;line-height:120%">— </span></td><td style="border-top:0.5pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="border-top:0.5pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Lato',sans-serif;font-size:8pt;font-weight:400;line-height:120%">— </span></td><td style="border-top:0.5pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="border-top:0.5pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Lato',sans-serif;font-size:8pt;font-weight:400;line-height:120%">69,029,501 </span></td><td style="border-top:0.5pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="border-top:0.5pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Lato',sans-serif;font-size:8pt;font-weight:400;line-height:120%">9,194,702 </span></td><td style="border-top:0.5pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="border-top:0.5pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Lato',sans-serif;font-size:8pt;font-weight:400;line-height:120%">— </span></td><td style="border-top:0.5pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="border-top:0.5pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Lato',sans-serif;font-size:8pt;font-weight:400;line-height:120%">80,148,421 </span></td><td style="border-top:0.5pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="border-top:0.5pt solid #b6b6b6;padding:0 1pt"></td></tr><tr><td colspan="3" style="border-bottom:1pt solid #f9d000;border-top:0.5pt solid #b6b6b6;padding:2px 1pt 2px 5.5pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Lato',sans-serif;font-size:8pt;font-weight:400;line-height:120%">2023</span></td><td colspan="2" style="border-bottom:1pt solid #f9d000;border-top:0.5pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Lato',sans-serif;font-size:8pt;font-weight:400;line-height:120%">17,060,929 </span></td><td style="border-bottom:1pt solid #f9d000;border-top:0.5pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="border-bottom:1pt solid #f9d000;border-top:0.5pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Lato',sans-serif;font-size:8pt;font-weight:400;line-height:120%">15,088,300 </span></td><td style="border-bottom:1pt solid #f9d000;border-top:0.5pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="border-bottom:1pt solid #f9d000;border-top:0.5pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Lato',sans-serif;font-size:8pt;font-weight:400;line-height:120%">34,898,602 </span></td><td style="border-bottom:1pt solid #f9d000;border-top:0.5pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="border-bottom:1pt solid #f9d000;border-top:0.5pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Lato',sans-serif;font-size:8pt;font-weight:400;line-height:120%">9,657,763 </span></td><td style="border-bottom:1pt solid #f9d000;border-top:0.5pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="border-bottom:1pt solid #f9d000;border-top:0.5pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Lato',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(2,330)</span></td><td style="border-bottom:1pt solid #f9d000;border-top:0.5pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="border-bottom:1pt solid #f9d000;border-top:0.5pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Lato',sans-serif;font-size:8pt;font-weight:400;line-height:120%">— </span></td><td style="border-bottom:1pt solid #f9d000;border-top:0.5pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="border-bottom:1pt solid #f9d000;border-top:0.5pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Lato',sans-serif;font-size:8pt;font-weight:400;line-height:120%">46,526,664 </span></td><td style="border-bottom:1pt solid #f9d000;border-top:0.5pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="border-bottom:1pt solid #f9d000;border-top:0.5pt solid #b6b6b6;padding:0 1pt"></td></tr></table></div>
3859478
-1999946
1187042
-36817175
-7109483
0
-40880084
1924218
0
0
69029501
9194702
0
80148421
17060929
-15088300
34898602
9657763
-2330
0
46526664
<span style="color:#000000;font-family:'Lato',sans-serif;font-size:8pt;font-weight:400;line-height:150%;padding-left:11.68pt">Reflects the respective amounts set forth in column (3) of the table above, adjusted as set forth in the table below, as determined in accordance with SEC rules and computed in accordance with the methodology used for financial reporting purposes. The dollar amounts reflected in column (4) of the table above do not reflect the actual amount of compensation earned, realized, or received by the non-PEO NEOs during the applicable year. Decreases in stock price may result in negative dollar amounts. For information about the decisions made by our People, Culture and Compensation Committee regarding the non-PEO NEOs’ compensation for each fiscal year, see “Compensation Discussion and Analysis” and the related tables and narrative explanations reporting pay for the fiscal years covered in the table above.</span><div style="margin-bottom:6pt;padding-left:18pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:96.551%"><tr><td style="width:1.0%"></td><td style="width:4.852%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:11.251%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.144%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.590%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.441%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.888%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:13.334%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:10.655%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.845%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="background-color:#f9d000;padding:2px 1pt 2px 5.5pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Lato',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Year</span></td><td colspan="3" style="background-color:#f9d000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><span style="color:#000000;font-family:'Lato',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Average Summary Compensation Table Total for Non-PEO NEOs</span></div><div style="text-align:right"><span style="color:#000000;font-family:'Lato',sans-serif;font-size:8pt;font-weight:700;line-height:120%">($)</span></div></td><td colspan="3" style="background-color:#f9d000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><span style="color:#000000;font-family:'Lato',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Less: Average Summary Compensation Table Total Equity (Stock Awards + Option Awards) for Non-PEO NEOs</span></div><div style="text-align:right"><span style="color:#000000;font-family:'Lato',sans-serif;font-size:8pt;font-weight:700;line-height:120%">($)</span></div></td><td colspan="3" style="background-color:#f9d000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><span style="color:#000000;font-family:'Lato',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Plus: Average Fair Value as of Fiscal Year-End of Stock and Option Awards Granted in Covered Year for Non-PEO NEOs</span></div><div style="text-align:right"><span style="color:#000000;font-family:'Lato',sans-serif;font-size:8pt;font-weight:700;line-height:120%">($)</span></div></td><td colspan="3" style="background-color:#f9d000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><span style="color:#000000;font-family:'Lato',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Plus: Average Change in Fair Value of Outstanding Unvested Stock and Option Awards from Prior Years for Non-PEO NEOs</span></div><div style="text-align:right"><span style="color:#000000;font-family:'Lato',sans-serif;font-size:8pt;font-weight:700;line-height:120%">($)</span></div></td><td colspan="3" style="background-color:#f9d000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><span style="color:#000000;font-family:'Lato',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Plus: Average Change in Fair Value of Stock and Option Awards that Vested in the Covered Year for Non-PEO NEOs</span></div><div style="text-align:right"><span style="color:#000000;font-family:'Lato',sans-serif;font-size:8pt;font-weight:700;line-height:120%">($)</span></div></td><td colspan="3" style="background-color:#f9d000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><span style="color:#000000;font-family:'Lato',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Less: Average Fair Value at Prior Fiscal Year-End of Stock and Option and Option Awards Forfeited during the Covered Year for Non-PEO NEOs</span></div><div style="text-align:right"><span style="color:#000000;font-family:'Lato',sans-serif;font-size:8pt;font-weight:700;line-height:120%">($)</span></div></td><td colspan="3" style="background-color:#f9d000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right"><span style="color:#000000;font-family:'Lato',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Average Compensation Actually Paid to Non-PEO NEOs</span></div><div style="text-align:right"><span style="color:#000000;font-family:'Lato',sans-serif;font-size:8pt;font-weight:700;line-height:120%">($)</span></div></td><td colspan="3" style="background-color:#f9d000;padding:0 1pt"></td></tr><tr style="height:5pt"><td colspan="3" style="background-color:#f9d000;padding:0 1pt"></td><td colspan="3" style="background-color:#f9d000;padding:0 1pt"></td><td colspan="3" style="background-color:#f9d000;padding:0 1pt"></td><td colspan="3" style="background-color:#f9d000;padding:0 1pt"></td><td colspan="3" style="background-color:#f9d000;padding:0 1pt"></td><td colspan="3" style="background-color:#f9d000;padding:0 1pt"></td><td colspan="3" style="background-color:#f9d000;padding:0 1pt"></td><td colspan="3" style="background-color:#f9d000;padding:0 1pt"></td><td colspan="3" style="background-color:#f9d000;padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt 2px 5.5pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Lato',sans-serif;font-size:8pt;font-weight:400;line-height:120%">2025</span></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Lato',sans-serif;font-size:8pt;font-weight:400;line-height:120%">1,770,740 </span></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Lato',sans-serif;font-size:8pt;font-weight:400;line-height:120%">959,952 </span></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Lato',sans-serif;font-size:8pt;font-weight:400;line-height:120%">427,328 </span></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Lato',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(3,647,051)</span></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Lato',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(860,596)</span></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Lato',sans-serif;font-size:8pt;font-weight:400;line-height:120%">2,213,627 </span></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Lato',sans-serif;font-size:8pt;font-weight:400;line-height:120%">(5,483,158)</span></td><td style="padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="border-top:0.5pt solid #b6b6b6;padding:2px 1pt 2px 5.5pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Lato',sans-serif;font-size:8pt;font-weight:400;line-height:120%">2024</span></td><td colspan="2" style="border-top:0.5pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Lato',sans-serif;font-size:8pt;font-weight:400;line-height:120%">908,319 </span></td><td style="border-top:0.5pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="border-top:0.5pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Lato',sans-serif;font-size:8pt;font-weight:400;line-height:120%">— </span></td><td style="border-top:0.5pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="border-top:0.5pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Lato',sans-serif;font-size:8pt;font-weight:400;line-height:120%">— </span></td><td style="border-top:0.5pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="border-top:0.5pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Lato',sans-serif;font-size:8pt;font-weight:400;line-height:120%">20,921,990 </span></td><td style="border-top:0.5pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="border-top:0.5pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Lato',sans-serif;font-size:8pt;font-weight:400;line-height:120%">5,651,187 </span></td><td style="border-top:0.5pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="border-top:0.5pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Lato',sans-serif;font-size:8pt;font-weight:400;line-height:120%">— </span></td><td style="border-top:0.5pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="border-top:0.5pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Lato',sans-serif;font-size:8pt;font-weight:400;line-height:120%">27,481,496 </span></td><td style="border-top:0.5pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="border-top:0.5pt solid #b6b6b6;padding:0 1pt"></td></tr><tr><td colspan="3" style="border-bottom:1pt solid #f9d000;border-top:0.5pt solid #b6b6b6;padding:2px 1pt 2px 5.5pt;text-align:left;vertical-align:middle"><span style="color:#000000;font-family:'Lato',sans-serif;font-size:8pt;font-weight:400;line-height:120%">2023</span></td><td colspan="2" style="border-bottom:1pt solid #f9d000;border-top:0.5pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Lato',sans-serif;font-size:8pt;font-weight:400;line-height:120%">2,781,834 </span></td><td style="border-bottom:1pt solid #f9d000;border-top:0.5pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="border-bottom:1pt solid #f9d000;border-top:0.5pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Lato',sans-serif;font-size:8pt;font-weight:400;line-height:120%">1,854,424 </span></td><td style="border-bottom:1pt solid #f9d000;border-top:0.5pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="border-bottom:1pt solid #f9d000;border-top:0.5pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Lato',sans-serif;font-size:8pt;font-weight:400;line-height:120%">5,065,659 </span></td><td style="border-bottom:1pt solid #f9d000;border-top:0.5pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="border-bottom:1pt solid #f9d000;border-top:0.5pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Lato',sans-serif;font-size:8pt;font-weight:400;line-height:120%">3,245,653 </span></td><td style="border-bottom:1pt solid #f9d000;border-top:0.5pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="border-bottom:1pt solid #f9d000;border-top:0.5pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Lato',sans-serif;font-size:8pt;font-weight:400;line-height:120%">690,991 </span></td><td style="border-bottom:1pt solid #f9d000;border-top:0.5pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="border-bottom:1pt solid #f9d000;border-top:0.5pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Lato',sans-serif;font-size:8pt;font-weight:400;line-height:120%">— </span></td><td style="border-bottom:1pt solid #f9d000;border-top:0.5pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="2" style="border-bottom:1pt solid #f9d000;border-top:0.5pt solid #b6b6b6;padding:2px 0 2px 1pt;text-align:right;vertical-align:middle"><span style="color:#000000;font-family:'Lato',sans-serif;font-size:8pt;font-weight:400;line-height:120%">9,929,713 </span></td><td style="border-bottom:1pt solid #f9d000;border-top:0.5pt solid #b6b6b6;padding:2px 1pt 2px 0;text-align:right;vertical-align:middle"></td><td colspan="3" style="border-bottom:1pt solid #f9d000;border-top:0.5pt solid #b6b6b6;padding:0 1pt"></td></tr></table></div>
1770740
-959952
427328
-3647051
-860596
-2213627
-5483158
908319
0
0
20921990
5651187
0
27481496
2781834
-1854424
5065659
3245653
690991
0
9929713
<span style="color:#000000;font-family:'Lato',sans-serif;font-size:8pt;font-weight:400;line-height:150%;padding-left:11.68pt">For the relevant fiscal year, represents the cumulative total shareholder return ("TSR") of CAVA through the last day of the applicable fiscal year, assuming $100 was invested on the date of our IPO, June 15, 2023.</span><span style="color:#000000;font-family:'Lato',sans-serif;font-size:8pt;font-weight:400;line-height:150%;padding-left:11.68pt">Reflects CAVA’s net income for each of the fiscal years ended </span><span style="color:#000000;font-family:'Lato',sans-serif;font-size:9pt;font-weight:400;line-height:150%">December 28, 2025,</span><span style="color:#000000;font-family:'Lato',sans-serif;font-size:8pt;font-weight:400;line-height:150%"> </span><span style="color:#000000;font-family:'Lato',sans-serif;font-size:9pt;font-weight:400;line-height:150%">December 29, 2024</span><span style="color:#000000;font-family:'Lato',sans-serif;font-size:8pt;font-weight:400;line-height:150%">, and </span><span style="color:#000000;font-family:'Lato',sans-serif;font-size:9pt;font-weight:400;line-height:150%">December 31, 2023</span>. Net income in fiscal 2024 included a one-time $80.1 million net benefit from the release of the valuation allowance against deferred tax assets.
For the relevant fiscal year, represents the cumulative TSR of the S&P 500 Restaurants Index (Peer Group TSR) through the last day of the applicable fiscal year, assuming $100 was invested on May 31, 2023 and dividends were reinvested.
<span style="color:#000000;font-family:'Lato',sans-serif;font-size:8pt;font-weight:400;line-height:150%;padding-left:11.68pt">Company Selected Measure is Adjusted EBITDA, which is defined as net income adjusted to exclude interest income, net, (benefit from) provision for income taxes, and depreciation and amortization, further adjusted to exclude equity-based compensation, other income, net, impairment and asset disposal costs, restructuring and other costs, certain non-recurring public company costs, and executive transitions costs to the extent applicable in each fiscal year.</span>
Adjusted EBITDA
Adjusted EBITDA
<div style="margin-bottom:9pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:98.900%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="background-color:#f9d000;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center"><span style="color:#000000;font-family:'Lato',sans-serif;font-size:8pt;font-weight:700;line-height:120%">Most Important Performance Measures for 2025 Compensation</span></div></td></tr><tr style="height:5pt"><td colspan="3" style="background-color:#f9d000;padding:0 1pt"></td></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:middle"><div style="text-align:center"><span style="color:#000000;font-family:'Lato',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Adjusted EBITDA</span></div></td></tr><tr><td colspan="3" style="border-bottom:1pt solid #f9d000;border-top:0.5pt solid #b6b6b6;padding:2px 1pt;text-align:left;vertical-align:middle"><div style="text-align:center"><span style="color:#000000;font-family:'Lato',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Revenue</span></div></td></tr></table></div>
Adjusted EBITDA
Revenue
<div style="text-align:center"><img alt="549755818895" id="i-107" src="cava-20260424_g40.jpg" style="height:380px;margin-bottom:5pt;vertical-align:text-bottom;width:613px"/></div>
<div style="text-align:center"><img alt="549755818895" id="i-107" src="cava-20260424_g40.jpg" style="height:380px;margin-bottom:5pt;vertical-align:text-bottom;width:613px"/></div>
<div style="text-align:center"><img alt="549755818898" id="i-108" src="cava-20260424_g41.jpg" style="height:380px;margin-bottom:5pt;vertical-align:text-bottom;width:613px"/></div>Excluding the $80.1 million net benefit from the release of the valuation allowance against deferred tax assets, net income for 2024 would have been $50.2 million. The relationship between CEO CAP, and non-CEO CAP, to net income would still have been positive between 2023 and 2024.
<div style="text-align:center"><img alt="549755819471" id="i-109" src="cava-20260424_g42.jpg" style="height:380px;margin-bottom:5pt;vertical-align:text-bottom;width:613px"/></div>